Battle-tested Former Bank CEOs Offer Advice to Current Community Bankers
Alex Shorter, an account agent at our agency, recently attended a dinner event hosted by the Community Bankers Association (CBA) of Georgia. The event was titled, “If I Knew Then What I Know Now,” and provided insights from three former CEOs of banks seized by the FDIC within the past year. The discussions were led by Ray Stanford, an attorney with Taylor English, and featured former CEOs: Marvin Cosgray, Buckhead Community Bank; Mike McPherson, Unity National Bank; and Bill Gafford, McIntosh Commercial Bank.
Here are Alex’s observations from the evening. 
The discussion was especially insightful for the community bankers in attendance as the panelists shared unique insights on strategies in responding to sideline capital, negative media coverage, regulatory handcuffs, and opportunities in the current market environment.
Additionally, for bankers currently in “survival mode,” panelists recommended how to approach a variety of items such as employee and customer communication and dealing with regulators.
Some primary pieces of advice included:
- Focus on communicating and developing relationships with regulators
- Shrink balance sheets
- Consider third-parties for validating/verifying information on small business and construction loans
- Develop a crisis communications plan—for customers and employees
It is not easy for former bank CEO’s to discuss their mistakes. They earned my respect by offering their stories in order to help other bankers. CBA of Georgia, keep up the creative programming.
