Independent Banker - December 2022 - 57

From blending differing values to choosing a new chairman, there are
many challenges that can arise after a merger or acquisition. We spoke
with legal and financial experts about what questions community bank
leaders should ask themselves pre-merger, what issues they may face
and how they can build an even stronger financial institution.
BY BRIDGET McCREA
C
ombining two banks into one
is a complex undertaking.
Between the due diligence, financial
negotiations, technology integrations
and the unification of two established
operations-be it via acquisition or
merger-the process can be risky and
challenging. There may be substantial
rewards at the other end, but that
doesn't necessarily make the journey
any easier.
As both sides of the table work
out the details, post-merger board
succession planning should be a key
topic of discussion. It's an aspect of
the deal that shouldn't be left until
the last minute, although it often
is. " What's going to happen to your
board once your banks merge can't
be an afterthought, " says Anton J.
Moch, a bank M&A and governance
attorney at Winthrop & Weinstine,
P.A., in Minneapolis.
" These conversations should take
place at the very beginning of any
transaction, with a focus on how to
put the boards together, who will
stay or leave and who will be the new
chairman of the board, " he continues.
" You can't wait until you're signing a
purchase agreement-or worse, until
you're closing on a deal-to figure out
how you're going to work with two
disparate boards. "
This is important, because banks
with strong boards are generally well
positioned in their marketplaces,
understand their customer bases
and make good decisions. Those
with weak boards tend to struggle
with decision-making due to
disagreements either among board
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Independent Banker - December 2022

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Table of Contents
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Independent Banker - December 2022 - Cover2
Independent Banker - December 2022 - Table of Contents
Independent Banker - December 2022 - 2
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