Grant Thornton's 15th Bank Executive Survey
Banker's across the country are seeing unsettling signs that point to a challenging year ahead. They are aware that the declining economy, faltering credit markets, and heady bank competition, set against the backdrop of an uncertain political year, are converging to create the need for innovative strategies and experienced leadership. With this in mind, Grant Thornton LLP, in association with Bank Director magazine, conducted the "15th Bank Executive Survey," a comprehensive study that seeks to capture bank executives' opinions and plans for the year ahead.
This year's survey findings dramatically illustrate what U.S. bankers think about the topics most critical to their business, including the national economy, growth strategies, credit and lending, technology, risk management, corporate governance, and compensation. In each area,we gauge the direction and importance of long-term trends and inform directors and officers on emerging hot topics. In some instances, we offer results that are crossreferenced by institution size (large and small banks are defined as those above or below $500 million in assets) or bank ownership structure (public, private, or mutual).
2008 will bring many challenges to U.S. bank executives as they strive to identify funding sources, grow revenue, and pursue additional market share at a time when the economy is struggling to revive. While bank executives are well aware of the challenges ahead, the survey results show they are looking beyond the current months to solidify customer relationships and leverage profitable business while maximizing cost containment strategies. Strong leadership, good governance, and intense risk management will be necessary to chart these dual courses and steer their banks toward a clear horizon.We hope this comprehensive report on the findings of this year's survey will help bank boards and executives as they strive to meet those goals in the year ahead.
