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#2003993 - 03/25/15 06:04 PM Board Audit Committee- # of directors?
Chocaholic Offline
Gold Star
Joined: Aug 2005
Posts: 443
Northwest
We are a community bank with assets under $200mil. Our current membership is 4 outside directors ( Chair is financial expert). There has been some discussion about the need to increase our membership by 1. Wanted to get a sense of committee composition in other banks our size.

thanks for your feedback!

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Audit
#2004014 - 03/25/15 06:22 PM Re: Board Audit Committee- # of directors? Chocaholic
Tater Offline
Platinum Poster
Joined: Jan 2006
Posts: 631
Missouri
$400MM community bank. Full board is 9. Audit Committee is 3.
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#2004017 - 03/25/15 06:26 PM Re: Board Audit Committee- # of directors? Chocaholic
Gioia Offline
Member
Joined: Sep 2014
Posts: 82
We are about the same size as you and our committee has 4 directors. Our charter states the committee must have 3 directors, but by having 4 even if 1 director misses a meeting we still have a quorum. Haven't had any scrutiny or recommendations to increase the size.

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#2004078 - 03/25/15 08:22 PM Re: Board Audit Committee- # of directors? Chocaholic
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,403
1.5 billion 4 outside.

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#2004608 - 03/27/15 03:26 PM Re: Board Audit Committee- # of directors? Chocaholic
Quadspapa Offline
Power Poster
Quadspapa
Joined: Aug 2002
Posts: 3,275
Quadrupletville, Texas
$400MM 6 outside directors on AC, and 18 full board
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