While the circumstances of this merger were aberrant, they nonetheless provide an excellent lesson for all bank directors. Have a structure in place to react decisively to a crisis. Understand your role in the process. Delegate authority and support the efforts of those who have been assigned tasks. Don't fall into the trap of chasing the soccer ball every time it is kicked.
Teamwork is what counts.
Reprinted with permission. This article first appeared in Bank Director , Fourth Quarter.