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Bank Advisory Board

Is the Advisory Board compensated? Is selection of participants typically made by the Board or management?


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Jill Castilla
The Citizens Bank of Edmond
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Original Message:
Sent: 11-20-2017 11:36
From: Anonymous Member
Subject: Bank Advisory Board

This message was posted by a user wishing to remain anonymous

We are a small family owned commercial bank in the rural Midwest.  We are looking at starting an Advisory board for our bank from local participants.  We have a board of directors that is made up of employees and family members of the family that owns the bank.  We are looking at a quarterly meeting for our Advisory board and selecting a variety of people from our customer base.  We are thinking of a board of 4-6 people.  I am just curious if there are other banks that have done this and how it is working for them.  Also wondering about what information they are collecting from their board and how they are using it. Thank you for your time!
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