You Texans make good points for depth esp in drought conditions and if the pond is a "leaker". Up here in the north, a well sealed pond even in "our drought conditions" only goes down 2 ft maximum. Anymore than 2ft lower and it is either a water table pond or a "leaker". See how conditions vary greatly in various parts of the country.. As I always say, "It All Depends".
Michigan Sport Fishing Ponds Book recommends northern ponds be at least 15' deep and 18-20 ft is distinctly better primarily to minimize winterkill under extended, heavy snow cover. . They currently think that depths greater than 25' provide little benefit for pond situations.


aka Pond Doctor & Dr. Perca Read Pond Boss Magazine -
America's Journal of Pond Management