A 'STRONG' BOARD - PRO (MOSTLY) AND CON

MID-JERSEY BANK HAS COME UP WITH A VIABLE ALTERNATIVE TO THE 'STRONG CEO-WEAK BOARD.' THE BANK'S BOARD CONSIDERS ITS RESPONSIBILITY TO GO BEYOND MERELY BEING AN ADVISOR TO THE CEO - A STATEMENT THAT IN NO WAY DOWNGRADES THE IMPORTANCE OF A CAPABLE, KNOWLEDGEABLE, AGGRESSIVE PRESIDENT. THE BANK'S BOARD HAS THE COMMITTEES REQUIRED BY STATUTE - EXECUTIVE, TRUST, AND AUDIT - PLUS 6 REGULAR COMMITTEES - PERSONNEL, PUBLIC-RELATIONS, INVESTMENTS, LOAN POLICY, BUILDINGS AND GROUNDS, AND PLANNING. SPECIAL COMMITTEES ARE APPOINTED FOR A LIMITED PERIOD WHEN NECESSARY OR APPROPRIATE. TWO ADVANTAGES OF THIS STRUCTURE ARE - FULL KNOWLEDGE THROUGH COMPLETE REPORTS AND PARTICIPATION CREATES GREATER INTEREST IN THE BANK'S AFFAIRS, AND DIRECTORS' ACTIVE PARTICIPATION ENHANCES BOTH INDIVIDUAL AND TOTAL KNOWLEDGE. TWO DISADVANTAGES ARE - DANGER THAT THE BOARD MIGHT WANDER AWAY FROM BANK POLICY AND INTO OPERATIONS, AND THE 'STRONG' BOARD MAY WEAKEN SENSE OF OVERALL RESPONSIBILITY.