Serving on a bank board isn't what it used to be. Directors today are expected to interact regularly with regulators and shareholders, monitor cybersecurity efforts, plot online and mobile strategies, ensure the right culture by setting the tone at the top, and a whole lot of other things that, even a decade ago, weren't part of the job.

Yet the composition of many bank boards hasn't changed all that much. Overall, the industry has a reputation for boards that are "stale, pale and male" - clubby cliques of longtime members who lack the independence, skills and diversity to help a bank compete in the modern world. It's not always a fair characterization, but if your board fits the profile, it might be time for a refresh.

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