The two years since George Frazis was unceremoniously dumped from the Bank of Queensland have hardly covered the regional bank with glory.

Chairman-turned-chief executive Patrick Allaway, learning the ropes in his first retail banking gig, is now battling the majors and his own franchise network, who were this week warned not to speak to the media. Some so cautioned must look with longing at the days when the bank’s flashy but, by all accounts, highly skilled former CEO ran things.