Slideshow Dear Shareholders...

As bank bosses sent out their annual shareholder letters in recent weeks, two themes dominated: The challenges of operating in an increasingly regulated, low interest rate world; and the desire to assure investors that they're putting safety first. Following are some notable quotes from around the industry.

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"Because the Wall Street juggernaut has tarnished the reputation of banking as a whole, it is difficult if not impossible for bankers … to plausibly play a leadership role today."

(Image: Michael Chu)

"A broken real estate market, increased regulation and heightened competition all conspire to keep the number of community banks declining. … No company is more concerned than we are by the appearance that community banking, as we know it, is dying."

"We built a fortress balance sheet that gives us the platform to accelerate business growth."

(Image: Bloomberg News)

"To generate any type of yield, banks are increasingly hard-pressed to accept some additional level of interest rate or credit risk, neither especially palatable. If we have to choose … managing interest rate risk would definitely and always be our preference."

"One thing is certain: there's no appetite among regulators for us - or any large bank - to grow inorganically."

"We are in a position to manage through this new regulatory environment, and we will devote ourselves to being an advocate for reasonable change - and an active critic and partner to amend and inform less productive changes."

(Image: Bloomberg News)

"Our choice to invest in franchise enhancements to deliver a great customer experience will lower the 'octane' of the business to some extent but will also help to create valuable long-term customer relationships."

"We cannot continue to have the fiscal 'flavor of the month' dominate the policy agenda. This fosters uncertainty and lack of confidence, which are the enemies of the only sure way to prosperity - a strong and growing economy."

"Dodd-Frank overreached and generated many unintended consequences. It aimed to solve problems that didn't even exist. … We still don't know the full extent of the impact of Dodd-Frank, which I have called a 'dump-truck' bill."

"We do promise you, among other things, consistent effort and integrity. In that spirit - I make this promise: We will be a port of safety in the next storm."

(Image: Bloomberg News)