When the chairman of MainSource Financial Group, a $2.8-billion asset banking company in Greensburg, Indiana, retired last year after 28 years, figuring out how to replace him became a critical decision. Did the bank have the expertise it needed on board committees, including banking expertise and a background to handle all the new government regulations for banking? The answer was no. So MainSource went through a radical change: going from nine to 12 members, merging the holding company and bank board and adding two new members: one with deep banking experience, the other with compliance expertise, and both with a...
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Naomi Snyder is a writer and contributor to Bank Director publications. She is the former editor of Bank Director.