While I continued on a family vacation (which was totally worthwhile), Jonathan and Jim McAlpin recorded an episode of The Bank Account looking at planning a strategic planning session for your bank. Jonathan and Jim cover a wide array of topics based on their collective experience in assisting dozens of banks with their strategic planning.
Among the multitude of topics covered include:
- thinking about shareholder interests in strategic planning;
- what the “new normal” means for community banks;
- how frequently strategic planning sessions should occur;
- the importance of efficiency ratio analysis;
- the length of a “good” strategic plan;
- board composition; and
- the need to address whether or not to pursue the sale of the bank with the board.