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In an era of fewer and fewer opportunities to grow internally, many institutions are faced with one decision: Acquire or be acquired. Here’s the dramatic story of one board that explored every option to stay independent and satisfy shareholders. In the end, the bank made the toughest decision of all.
New century economic drivers are pointing banks toward a new set of priorities. Try these strategies to stay on top during the tough times ahead.
Dime Bancorp CEO Larry Toal recently approached Bank Director to get something off his chest: His directors were completely justified in rejecting North Fork Bancorporation’s hostile bid, which finally folded last November. His long-term defense for their refusal to sell? Performance.
A year ago small banks were scrambling to sign on with newly minted Internet banking companies—companies awash in VC and IPO money. Large banks were hell-bent to get their own products out the door. Some, like Bank One, were spending millions a month promoting an entire new bank name, in their case, Wingspan Bank. It […]
As the board meeting adjourned, several directors of the $4 billion dollar Tri-State Bank & Trust paused for a short discussion prior to attending the retirement party in the boardroom reception area. Two longtime directors had reached the board`s mandatory retirement age and the bank was expressing thanks for their service. But farewell speeches weren`t […]
Complacency is the board’s worst enemy, and directors must be on constant alert to manage risk and guide their institutions wisely. We examine the most critical areas the board should monitor today.
Consumer groups have been whipped into a frenzy over the issue of privacy and several state prosecutors are actively pursuing such cases. Now that regulatory watchdogs also have taken a stand, directors must ensure prudent privacy policies are in place and are being followed.
Financial institutions are beginning to stake their claim in the business-to-business online marketplace. For directors, forging into this arena means fully understanding customers` needs and the bank`s strategic plan.
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