CRISIS-PROOF YOUR SUCCESSION PLAN Succession planning is a critical tool for community banks to identify up-and-coming talent and provide a long-term strategic vision. But how has COVID-19 aff ected these plans? Experts discuss strategies for making sure your community bank's succession plan can withstand this crisis-and the next one. BY KELLY PIKE * PHOTO BY MATT STANLEY an ideal world, the departure of a key leader at a community bank would be an anticipated and carefully orchestrated event. A retirement date would be set. The successor would have plenty of time to learn from their predecessor. It would be a smooth transition. But we don't live in an ideal world. If COVID-19 has taught us anything, it's that resiliency must be integrated into every aspect of community banking-including succession planning. Bank presidents, CEOs and other C-suite executives aren't immune to the coronavirus or other unexpected events. Morgan Stanley CEO James Gorman was diagnosed with COVID-19 in March, running the company while quarantining IN Robert White joined 1st Colonial Community Bank as president and CEO right as the pandemic was ramping up. 50 Q ICBA Independent Banker Q November 2020