This is my first post as I am a new user to BOL. Last year our FI opened a branch office in a new community to our market, and one of the things I want to do is start an advisory board. Does anyone out there have any recommendations on this, such as size of board, compensation, meeting topics, etc.? Thanks in advance for your help!

Meeting topics?

You need to decide this (to charter this group) before you decide on the rest. Will they have input into CRA activities, customer complaints, advisory capacity regarding the operation of the bank, etc?

Once you know this, you should be able to determine the who and how often.

I've no clue as to compensation.

Hi, we are about to establish one for each of our three regions. Primarily the focus of these groups are for CRA ideas and product development. The Pres wants the advisory board to include the following:
2 directors
1 commercial loan officer
1 regional branch admin
4 retail business (2 large, 2 small)
This is only my limited knowledge of the plan (I wasn't invited to that meeting! ) as I was honored to do the Powerpoint for the Pres.
I know that the business parties will have a two year term along with the directors. The others are "lifers". I don't know what the compensation will be. (Oh, and I think I read something about dinner meetings)