The percentage of bank boards with expertise in mergers and acquisitions has grown in the past year as the regulatory environment has become more favorable to such activity, according to a new survey on bank governance by Bank Director and Bradley Arant Boult Cummings. The survey also found a growing number of boards exploring artificial intelligence.
Roughly 44% of bank boards reported having expertise in M&A in 2026, up 10% from the previous year, Bank Director reported. Still, the top skill sets sought in board directors remained largely unchanged, with 91% of boards reporting expertise in finance and accounting, 87% in auditing, 69% in real estate, and 51% in legal.
Twenty-one percent of bank boards said they have a director with AI expertise. Nearly half of boards have discussed AI risks. Relatively few respondents said AI tools were being used in board meetings, such as using AI to prepare meeting minutes (26%) or transcribe board discussions (22%).
Other findings:
- More than half of respondents (57%) expect one or two board members to retire by the end of 2027.
- Thirty-nine percent said their board conducts an annual board assessment, with more than half of those reporting changes to their boardrooms as a result.
- Only 20% reported they have examined whether their institutions could be investigated by federal regulators for alleged debanking activities. However, Bank Director reported the survey was conducted before the Justice Department subpoenaed several large banks as part of debanking investigations.
