1. Do your best; work as hard as you can.
2. Fighting with the regulators is, at best, useless and, at worst, damaging to the institution. If the bank is going to fail, don’t blame the regulators.
3. Search hard for solutions. Short of buying out the bad loans with personal funds, be as aggressive as reasonably practicable. Prove to the regulators you know what is at stake: the insured deposits.
4. Cooperate with the bidders in any assisted transaction.
5. Attend to the regulatory sanctions and requirements imposed on the institution with diligence and common sense. Do not feed the regulators false promises or unrealistic prognostications.
6. Do not resign, unless you discuss it with independent counsel and the regulators first.
7. Document, document, document everything you do to help save the bank.