A Message to Bank CEOs and Bank Leaders…WAKE UP!

A message to bank CEOs and bank leaders…just speaking the truth with love…

What you know about banking and your bank has nothing to do with knowledge. In truth, the greatest enemy of learning is knowing. How many times do you continue to say to yourself, "I know that”?

Here's the deal. You don't really know “that”. You only know “about that”.

There is a huge difference between knowing about something and knowing something and that includes what you think you know about your bank, your people, and your own leadership.

The only thing truly unique about your bank is how you lead it. None of us is a whole, self-sufficient, superb, capable, all powerful hot shot, so stop acting one. Leadership is often lonely enough without playing that game.

Now is the time to truly dive deep into your leadership and your bank and discover where you truly stand with your people, your depositors, your loan customers, your board of directors, your shareholders, and your regulators. And don’t forget your family.

Now is the time to truly dive deep into your balance sheet, income statement, past due list, classified loan list, loan loss reserve, sensitivity to interest rate risk, deposit offerings and pricing, cyber security, investment portfolio, and find the danger that is there. And the danger is there, and more than you know about.

What seemed to work in the past is not going to work going forward. Your regulatory supervisors will see to that. It is time to move several steps beyond traditional strategic planning and consider outrageous solutions and non-traditional approaches.

You, as the leader of your bank, should challenge the conviction of any belief you have about your bank and decide right now to change your and your bank’s behavior patterns and embark on an intentional journey of improvement and you become the leader you think you are now.

If that last statement stung, consider this…

“It is impossible for someone to learn what they think they already know.” ~ Epictetus

Nothing ever improves until the leader improves.

Banks are way behind the rest of the business world. Coaching was long thought to be only something to correct under-performance however today, business leaders consider the hiring of coaches for themselves to be essential, just like professional athletes.

More importantly, coaching in business is now used to support top producers and to generate immediate results. This is especially beneficial in times of change, challenge, and in pursuing new opportunities while confronted with new and more regulatory and market obstacles.

The future success of your banking enterprise and your own success as a banker is quite simply a leadership matter. Your leadership matters.

“One of the greatest values of mentors is the ability to see ahead what others cannot see and to help them navigate a course to their destination.” ~ John C. Maxwell

This is not my first rodeo. I have done this way more than once. Here is what works best each time, every time, all the time:

Always seek input and feedback.

Share everything.

Hide nothing.

Ask high-quality questions and don’t take those questions personally.

It is good to ask lots of high-quality questions. Don’t be mean-spirited when asking questions.

You have lots of smart people in your bank but seek counsel from outside qualified smart people.

Honesty and forthrightness always work.

Always make time and have time to talk to your co-workers.

Just like an athletic team, banking is a “cut” sport, but right now, until proven otherwise, you are all on the same team working toward the same goals.

Speak the truth with love.

?

Published April 5, 2023, All Rights Reserved ? 2023