In some cases, where the track record of the directors was not considered  2  BIS Review 88/2005  satisfactory, the directors vacated their positions. In regard to some others, there is an on-going process to ensure ‘fit and proper’ status of the directors.
One of the biggest advantages from scale comes in regulatory compliance. As one banker in Wyoming told me: “Consolidation is a huge threat as larger banks can deliver at a far lower cost.” One of the biggest costs, of course, is regulatory compliance.