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Community bank directors have a lot of responsibility when it comes to making decisions about their bank. Their decisions impact a variety of stakeholders, including shareholders, depositors and regulators. However, there is another important shareholder that bank directors must consider when making decisions – the community. All of these things considered, it can be hard to find ideal candidates to serve as community board bank members. Below are three qualities that your Board of Directors should look for when adding new members:

A board member should be balanced. Whoever is selected should have the community as their focus. They should understand the market and have a strategic vision for the bank that’s in line with shareholders and senior management’s views.

A board member should be competent. Anyone being considered for a board member position should have extensive experience and strong business expertise. In addition, they need to understand the functions of a team and be consensus builders.

A board member should be committed to the role. Being a board member requires a level of dedication that not everyone can meet. For example, there is a variety of continuing education demands that board members will require to complete.

To eliminate any misconceptions about the workload or time commitment, prepare every prospective board member with a written job description. That way everyone will be on the same page and potential candidates will know what is expected of them.

For more information, please visit the Independent Bankers Association of Texas.