From time to time we hear from bank senior management that their board doesn’t seem engaged, or that they can’t get a sustained conversation out of their board. Instead, board meetings consist of routine review of management reports, with motions, seconds, and unanimous adoptions of management recommendations without any meaningful discussion. Years of bank board meetings can go by without a single dissenting vote recorded in the bank’s board minutes. Regulators may being to question, perhaps correctly, that the board has merely become a rubber stamp for management, and that the board is merely “going through the motions” at each board meeting.
Over time, we have found one topic for which no board member can remain silent, and everyone (and I mean everyone) has an opinion.
What color should the bank’s new logo be?
Branch lobby carpet colors can also be quite effective, as can capitalization (grammar, not balance sheet, i.e. Fintech vs. FinTech), a change in mascot or marketing gimmick, or minor tweaks to branch hours.