Community Bank CEOs: How to Navigate Your New Role After Selling the Bank
The deal closed.
The bank you led no longer exists as a separate entity.
If you had a holding company, that's gone too.
You still have duties related to distributing merger proceeds to shareholders.
That responsibility remains until everyone's been paid.
But everything else changed Friday afternoon.
Employees and customers now look beyond you for the final word.
Your authority as CEO ended when the merger closed.
This isn't meant to be depressing.
It's not highlighting something you didn't already know.
With the right perspective, this transition can actually be liberating.
The Weight That Lifts
Every decision about customers, employees, and shareholders no longer rests solely on your shoulders.
Think about what that means.
For years—maybe decades—you were the final word.
The ultimate decision maker.
The person accountable when things went wrong.
That responsibility is gone now.
If the buyer makes a decision that's completely different from what you would have chosen?
So be it.
They paid a lot of money for the right to make that decision.
Your new role is providing input and carrying out decisions.
Being a good advocate for the people and customers you care about.
That's it.
The Struggle Is Real
I've seen both business owners who sold and employees who were acquired wrestle with this transition.
I've wrestled with it myself.
Selling our bank wasn't the first time I was part of an acquisition.
That earlier experience is what eventually led me to think about starting my own bank.
Some situations work out great for everyone involved.
The buyer values your input.
Your team thrives.
Customers are happy.
Other situations don't work out that way.
Maybe you're no longer needed.
Maybe the fit isn't right.
Maybe the direction doesn't align with what you'd hoped.
If that happens, just move on.
Don't belabor the point.
Don't try to influence others or make them live through your struggles.
Just move on.
That's not quitting.
That's recognizing reality and responding professionally.
You Were Always Going to Be Duplicated
I was fully aware that I'd be the most duplicated person when we sold.
The value we built was in developing the team.
In creating systems and processes that didn't require my daily involvement.
In building something that could run without me.
My role was looking three to five years ahead and providing direction.
The buyer doesn't need that from me.
They have their own vision for the future.
That was always going to be the case.
What I'll Miss (And What I Won't)
Will I miss guiding the bank into the future?
Absolutely.
But I'm glad I was part of building it.
I want everyone involved to be successful.
I'll enjoy watching the bank continue to grow.
Hearing about our employees' career development.
Seeing our customers' continued growth and their impact on the community.
Our customers create jobs.
Their employees buy homes.
They increase commerce, which provides resources for better schools and services.
Our shareholders can redeploy the capital we returned to them for even more community growth.
The bank provided opportunities I wouldn't have had otherwise.
I'm sure you feel the same way about your journey.
I worked with people most could only dream of calling coworkers.
Very talented and caring people.
I participated in industry associations and served on the state banking board with great people.
Banking has been good to me and my family.
I thank everyone involved along the way and wish them all continued success.
Your New Responsibilities
The buyer will provide direction for your post-closing responsibilities.
Most likely, they'll want you to:
- Make the transition as smooth as possible
- Keep customers happy
- Help the team through the transition
- Bring in new business
- Collaborate with new team members
- Be a positive addition to the culture
These are good responsibilities.
Important work.
Meaningful contributions.
But they're different from what you've been doing.
The Responsibilities That Go Away
Here's what people often miss:
Change doesn't just add to your list.
It also takes things away.
You're not just getting new responsibilities.
You're losing old ones.
With the right perspective, this can rejuvenate your career.
Think about the periodic responsibilities you had:
Exams:
You'll still participate, but you're no longer ultimately accountable for the results and follow-up.
Annual duties:
You'll likely still participate, but you're not accountable for the entire project anymore.
- Annual business plan and budget
- Shareholder meeting preparation
- Proxy materials
- All the logistics of holding the meeting
Quarterly duties:
- Call report preparation, review, and submission
- Quarterly board reports
- Interest rate sensitivity analysis
- ACH and remote deposit capture reviews
- Allowance for loan and lease losses reports
Monthly duties:
- Board meeting preparation
- ALCO meeting assembly and review
- All-employee meeting preparation
- Financial reviews compared to budget
- Culture communication and reinforcement
These activities were extremely important.
They also consumed massive amounts of your time.
We haven't even touched on weekly and daily responsibilities.
What You'll Miss (And What You Won't)
You probably enjoyed many of these responsibilities.
You'll naturally feel a loss about not being directly involved anymore.
Some of them?
You'll be glad to see them go.
Make a list.
Actually write it down.
Things that gave you energy:
- What did you look forward to?
- What made you feel alive and engaged?
- What aligned with your strengths?
Things that drained your energy:
- What did you dread?
- What felt like grinding obligation?
- What sucked the life out of your day?
Now think about a bank 5-7 times your size.
The resources they have in-house.
The specialized roles they've created.
Many of the things that drained your energy?
Gone.
Someone else handles them now.
Many of the things that gave you energy?
You might be able to do more of them, either within the bank or outside it.
The Recovery Time You Deserve
When was your last real vacation?
Not the one where you checked email constantly.
Not the long weekend where you squeezed in board prep work.
Not the family trip where you spent half the time on conference calls.
An actual vacation.
Where you unplugged completely.
If you're like most bank CEOs, you can't remember the last time that happened.
Now might be the time to recharge your batteries before moving forward.
A change in perspective will likely do wonders for you.
You probably haven't had time to even consider these things until now.
The Mental Transition Matters
This transition—the mental and emotional shift from CEO to team member—is important.
Some people fight it.
They cling to their old authority.
They undermine the new leadership.
They make things harder for everyone, including themselves.
Other people embrace it.
They find freedom in not being the final word.
They discover new ways to contribute.
They enjoy aspects of banking they'd forgotten about while managing everything.
The difference is perspective.
You can view this as a loss.
Or you can view it as an opportunity.
Both views are valid.
But one makes you miserable and the other opens doors.
The Next Chapter
Auditing your activities and gaining perspective on this transition needs to happen as far in advance as possible.
If you're reading this years before selling, start thinking about it now.
What parts of your job energize you?
What parts drain you?
What would you do if you didn't have to do everything?
If you're reading this weeks before closing, make time for reflection now.
The mental preparation matters.
Moving into this next chapter with clarity and intention changes everything.
The Gratitude Perspective
No matter how this transition goes, you accomplished something significant.
You built or led a bank that someone else wanted to buy.
That's not easy.
You created jobs.
You served customers.
You strengthened your community.
You made decisions that mattered.
You solved problems that had no clear answers.
You showed up day after day, even when it was hard.
That's worth acknowledging.
Whatever comes next—whether you stay with the buyer, start something new, or move on entirely—you're leaving with experience and knowledge that few people have.
The Bottom Line
After closing, your role shifts from CEO to team member. Many draining responsibilities disappear—board prep, regulatory reporting, shareholder meetings—while new responsibilities emerge around customer retention and cultural integration. This transition can be liberating with the right perspective. Audit what energizes versus drains you now, take recovery time if needed, and embrace the next chapter with clarity rather than clinging to past authority.
P.S. I'm not a lawyer, an accountant, or an investment banker. Just a former bank CEO who has been in your shoes.
There are zero hacks or tricks in this newsletter. Just proven tactics that help you choose the right path for your bank.
Your path will:
- Inform your strategic plan.
- Guide your annual business plan and budget.
- Clarify priorities.
- Define your message so it can be communicated with confidence.
This is how savvy bankers navigate.
They build smart and valuable banks and choose the best time to sell on a timeline of their own choosing – serving the needs of the shareholders and the board.
I hope you found this short lesson helpful.
What are your thoughts?
I’ll see you next week.
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