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Summary of RMA Philadelphia’s 2026 Annual Bank Presidents’ Panel
For the 20th consecutive year, Ardmore Banking Advisors served as the gold sponsor for the Philadelphia Chapter of the Risk Management Association’s Annual Presidents’ Panel, which was held at the Philadelphia Union League on Tuesday, May 12.
Ardmore’s Senior Consultant, Teresa Wood, also a Board Member of the Philadelphia RMA, served as moderator of the panel, featuring Chris Annas, Chairman & CEO of Meridian Bank, Dan Fitzpatrick, President of the Mid-Atlantic and Midwest Regions of Citizens Bank, and Bernard Shields, Pennsylvania Market President of WSFS. The panel had a lively discussion of a wide range of topics from AI in banking, private credit, cybersecurity and fraud, and the impact of fintechs, particularly on community banking.
What follows is a summary of the panel discussion, and some of the key issues discussed. Please note – the opinions expressed are those of the panel and are merely presented here for informational purposes.
The Current State of the Banking Industry – Geopolitical Factors & Volatility
The panel discussed the current banking climate and the various factors impacting it – including the perception that we’re now living in unusually volatile times. There was a general agreement that there have always been turbulent times, with the aftermath of the terrorist attacks of 9/11, the COVID-19 outbreak, and the economic crisis of 2008 given as examples, and that a key aspect of banking is to be able to react to the environment and still meet clients’ needs.
The panel did point to concerns over lingering inflation, tariff uncertainty, and the war in Iran leading to rising oil prices as the largest factors causing portfolio disruption. Technology lending, particularly the impact of AI, was mentioned as an area with the potential for problems. Some larger banks are also seeing opportunity in defense spending, with an almost unlimited need for munitions with conflicts in Ukraine and the Middle East ongoing.
What Keeps You Up at Night?
When asked what issues are most concerning, all three bank presidents found consensus on cybersecurity and fraud prevention. Every institution is aware of the threat posed and there is a need for constant scrutiny and safeguards. All it takes is one mistake to cause massive disruption, and the cybercriminals are learning new tactics every day. Customer education on scams is also important.
Other areas of concern include the potential of the regulatory pendulum swinging back towards perceived overreach– particularly around mortgage scrutiny, Fintech deposit disintermediation (using the Silicon Valley Bank failure as an example), and hiring and succession practices with more senior lenders approaching retirement.
Artificial Intelligence (AI) in Banking
One of the most substantial portions of the discussion focused on the use of AI in banking, how it can be leveraged in the future, and whether there is concern about its use triggering layoffs and eroding business models. While the panel generally agreed that there is no danger of it completely removing the human factor, there is the potential for it to allow employees to repurpose their time. Potentially, AI can reduce time spent on tedious tasks, freeing it for other more profitable activities, creating efficiency. For example, marketing tasks that used to take five hours can now take five minutes. One panelist highlighted the significant opportunity there.
One president pointed to the numerous data points involved in lending and using Copilot to make suggestions, then letting human administrators decide whether or not to use them. Another president said that enough back-office tasks were automated to the point that staff members could be redeployed to front end tasks.
Another comment was made that AI could evolve to the point that it could solve one of the main areas of concern – staffing. As more junior staff are promoted to replace retiring senior executives, it’s possible that AI can be utilized to replace some junior staff functions.
The Regulatory Shift in Attitude and Experience
When asked how regulatory exams have evolved in recent years, all three bank presidents agreed that they have become easier. When there are changes in Washington, bankers feel the differences faster than anyone else. Many new directives from Washington are creating a fairer overall evaluation of risk as opposed to traditional examinations that often would drill deep to find any issues, no matter how trivial. Another factor is that many examiners have left the agencies, and some are being replaced with a more inexperienced workforce that is willing to work with banks and accept internal risk controls as long as any major issues are addressed. One panelist stated: “It is sort of like they are saying ‘Washington has told us to give you latitude. Don’t screw up. Keep doing what you are doing…see you later.’”
The M&A Landscape
The panel addressed a couple of questions regarding the potential for merger activity and the regulatory attitude around it. Members of the panel pointed out that there were around 18,000 banks when they started in their banking careers and now there are about 4,600, so it’s a safe bet that mergers will continue. The softening attitude of the regulators towards M&A and regulation in general, as discussed earlier, facilitates M&A. One of the current major driving factors is the need to stay ahead of the curve on technology and the growing need for up-to-date cybersecurity defenses. These growing needs can drive some banks to merge with others out of necessity. Another driver mentioned was private banking, as it is a key service for regional banks and a revenue source that is missing for some banks. As such, banks may have to acquire private banking through M&A.