Financial Services

Community Banks... A Way To Win (in the New Regulatory Environment)

April 1, 2005

By Christopher C. Gallagher*

Keynote Address of Christopher C. Gallagher before the Directors & Managing Officers Conference of the New Jersey League of Community Banks, Forsgate Country Club, Monroe Township, New Jersey.

Most of us are familiar with the premise of “Survivor,” the TV show in which teams compete while they face various new challenges. During the series, the survivors are required to vote team members “off the island.” It’s pretty horrifying, since it appears to bring out the worst in everyone. Nevertheless, it resonates because it depicts a ruthless Darwinian environment in which only the strong can survive. At times business can seem that way.

In some ways, the show resembles community banking today. Only the strong survive–or do they? Darwin taught us that survival comes not from strength, but from adaptation.

In the last 10 years more than 6,000 community banks have gone “off the island.” Today, however, the community bankers and directors here are survivors in every way. You should be proud of it. But if you want to remain on the island, the key word is adapt.


Download entire address in PDF form.


* Christopher Gallagher is admitted in New Hampshire.

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