What do the shareholders want? They are the ones that actually own the bank, not the "manager owners" whatever that is. A big problem with this management team is that they are a public compmany and answerable to shareholders. Because the shares are so widely held, no one shareholder has ever held the board accountable. At the end of the day, this company is not an attractive takeover candidate due to its various businesses, i.e. clearing. They would have been better off selling clearing and buying another broker/dealer to bolster their business when the stock was at $12. Sinking a couple of million into guaranteed compensation for a head of clearing they eventually fired could have been spent elsewhere.