Western Independent Banker - November/December 2008 - (Page 16)

cussions. The discussion focuses on how a board can improve its performance. A full board evaluation will encompass some of all of these methods. First, conduct a board survey to ascertain where issues may exist. Next, conduct one-on-one interviews with each individual director, then finally conduct a one-on-one interview with the CEO. In the meantime, assess the board’s annual agenda, review the committee structure, and issue a report. Follow-up is critical! Develop a plan of action for addressing points that arise from the discussion, assign follow up responsibilities to an appropriate committee (executive or governance or board chair), and commit to an annual reevaluation. Remember that there is no “one size fits all” approach to evaluating the board. Each evaluation is different, and the key to success is for the board to be actively engaged in the process. If you do not undertake an evaluation based upon a legitimate purpose that is endorsed by the board, you will not see improvement. A board that views evaluation as a valuable opportunity to focus on critical issues and improve performance will find itself way ahead of other bank boards. Geri Forehand is director of strategic services for Brintech in Atlanta, Ga., and is a Certified Professional Consultant to Management. He can be reached at 800929-2746 or GForehand@Brintech.com. We’re so independent, p we could start our own country. At Amalﬁ Consulting, we’re independent thinkers. In fact, we pride ourselves on being able to offer you compensation advice that is unbiased, accurate, complete, and totally without agenda. It’s this kind of freedom, knowledge, experience and willingness to go the extra mile that will get you the best compensation analysis possible, and help you keep your best employees. No wonder more than 400 ﬁnancial institutions nationwide have turned to Amalﬁ for compensation advice. So declare your independence. Call Amalﬁ today. For more information, contact Gayle Appelbaum, 952-893-6795 or gayle.appelbaum@ amalﬁconsulting.com. Independent and unbiased compensation consulting. www.amalﬁconsulting.com 16 www.wib.org Western Independent Banker http://www.belrad.com http://www.amalficonsulting.com http://www.wib.org

Table of Contents Feed for the Digital Edition of Western Independent Banker - November/December 2008

Western Independent Banker - November/December 2008 Contents A Message from the President & CEO A Practical Approach to Director Evaluations Director Assessment: New Standards for a High Performing Director The Best of the West: Traits of High Performing Banks Best Practices Checklist for the Audit Committee The Real Performance Metric: It Takes a Balance of Profitability and Growth to Be Successful The Role of the Board in a Credit Crisis A Bank Director's Obligation to Be Aware of Regulatory Change Benefits Tied to Performance Receive Higher Approval Rating by�Board Members Increasing Shareholder Value: Key Profitability Drivers Board Portals Streamline Efficiency for 21st Century WIB Service Corporation Report WIB Calendar Welcome New Members Index to Advertisers advertiser.com

Western Independent Banker - November/December 2008

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