Independent Banker - October 2017 - 38

Family members of family-owned
banks should meet periodically,
and no less than annually, and
document agreements as to issues
family members have discussed and
resolved and get the agreements
signed by all who are aff ected. "
-JEFFREY TISDALE,
TISDALE & NICHOLSON LLP
In an ideal situation, board
members should ensure that any
would-be successor is skilled in all
areas and takes the same pathway
that any CEO needs to take so that
he or she can step into the position
based on merit instead of lineage,
Cady advises.
Another challenge is passing the
baton to someone in the younger
generation who is " just not cut out "
for leadership, he says.
" They're not a visionary and
serving that community's fi nancial
needs. " Being in a tight-knit community
really helps us get along with
each other at the bank very well and
helps us to provide a good working
culture, " Patel says.
" The way we engage with our
employees is that we do not micromanage.
We fi nd good people that we
trust, and we let them fl y. "
Ensuring real-life experience
Patel graduated from Texas A&M
University with a degree in fi nance
and then attended the banking
program at Southern Methodist
University. He joined State Bank of
Texas in 2005 as vice president of
lending before advancing to chief
lending offi cer.
But his hands-on training at the
community bank began in high
school, when Patel worked as a credit
analyst, " with my dad giving me
pointers from the get-go. "
" Schooling is great, but getting reallife
experience on things happening
day-to-day is very important, " he says.
Joseph H. Cady, managing partner
of CS Consulting Group LLC in San
Diego, says that boards of family-run
banks can sometimes give undue
deference to a CEO who is pushing
for an unqualifi ed family member to
be the successor. Such was the case at
38 ICBA IndependentBanker October 2017
one family-run bank that used Cady's
consulting services.
" He was grooming his son to be the
CEO, but when the father retired, the
son was nowhere close to being ready
to take over, " Cady says.
" The son didn't have the
confi dence of the board and the board
did voice concerns. "
they're not good at strategy, which
are the key attributes of a CEO, " Cady
says. " They've got to be able to build
a consensus and get people to follow
an executive strategy plan. They can
go to leadership training, but some
people are natural leaders and some
are just natural followers. It can be a
very diffi cult or awkward situation. "
The matriarch and
patriarch should give
some serious consideration
of what the ownership is
going to look like after they
pass away to avoid problems. "
-JEFFREY C. GERRISH, GERRISH SMITH
TUCK CONSULTANTS AND ATTORNEYS

Independent Banker - October 2017

Table of Contents for the Digital Edition of Independent Banker - October 2017

Table of Contents
Independent Banker - October 2017 - Intro
Independent Banker - October 2017 - Cover1
Independent Banker - October 2017 - Cover2
Independent Banker - October 2017 - Table of Contents
Independent Banker - October 2017 - 2
Independent Banker - October 2017 - 3
Independent Banker - October 2017 - 4
Independent Banker - October 2017 - 5
Independent Banker - October 2017 - 6
Independent Banker - October 2017 - 7
Independent Banker - October 2017 - 8
Independent Banker - October 2017 - 9
Independent Banker - October 2017 - 10
Independent Banker - October 2017 - 11
Independent Banker - October 2017 - 12
Independent Banker - October 2017 - 13
Independent Banker - October 2017 - 14
Independent Banker - October 2017 - 15
Independent Banker - October 2017 - 16
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Independent Banker - October 2017 - 18
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Independent Banker - October 2017 - 21
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Independent Banker - October 2017 - 27
Independent Banker - October 2017 - 28
Independent Banker - October 2017 - 29
Independent Banker - October 2017 - 30
Independent Banker - October 2017 - 31
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Independent Banker - October 2017 - 33
Independent Banker - October 2017 - 34
Independent Banker - October 2017 - 35
Independent Banker - October 2017 - 36
Independent Banker - October 2017 - 37
Independent Banker - October 2017 - 38
Independent Banker - October 2017 - 39
Independent Banker - October 2017 - 40
Independent Banker - October 2017 - 41
Independent Banker - October 2017 - 42
Independent Banker - October 2017 - 43
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Independent Banker - October 2017 - 46
Independent Banker - October 2017 - 47
Independent Banker - October 2017 - 48
Independent Banker - October 2017 - 49
Independent Banker - October 2017 - 50
Independent Banker - October 2017 - 51
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Independent Banker - October 2017 - 53
Independent Banker - October 2017 - 54
Independent Banker - October 2017 - 55
Independent Banker - October 2017 - 56
Independent Banker - October 2017 - 57
Independent Banker - October 2017 - 58
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Independent Banker - October 2017 - 60
Independent Banker - October 2017 - 61
Independent Banker - October 2017 - 62
Independent Banker - October 2017 - 63
Independent Banker - October 2017 - 64
Independent Banker - October 2017 - 65
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Independent Banker - October 2017 - 70
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Independent Banker - October 2017 - 73
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Independent Banker - October 2017 - 79
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Independent Banker - October 2017 - 81
Independent Banker - October 2017 - 82
Independent Banker - October 2017 - 83
Independent Banker - October 2017 - 84
Independent Banker - October 2017 - Cover3
Independent Banker - October 2017 - Cover4
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