Several small and midsize banks have added high-profile directors in recent months. Since the 2008 crisis, serving on a bank's board has become a more demanding job, leaving some industry experts to question whether celebrity directors are useful. Others praise these moves as a way to bring in new business and build name recognition.

There is evidence of growing trust in smaller institutions, which indicates a need for banks of all sizes to adopt a new philosophy: to maintain fiduciary responsibility to customers while pairing asset management with a commitment to supporting communities.