You get the call.
A strategic buyer wants a conversation.

Now what?

Who do you call first — legal counsel, an investment banker, your accountant, your board… or do you try to handle it yourself?

Most CEOs think they have a plan.
But as Mike Tyson put it: “Everyone has a plan until they get punched in the face.”

In this episode of the Community Bank Value™ Playbook, Kurt Knutson explains why the banks that maintain leverage don’t build their advisor teams after interest shows up — they build those relationships years in advance.

This isn’t about preparing to sell.
It’s about building strategic bench strength so you can respond calmly, protect confidentiality, and maintain control when strategic questions arise.

What You’ll Learn

• Why buyers have a built-in advantage if you’re figuring things out in real time
• The principle that changes the power dynamic instantly: serious advisors signal seriousness
• The three advisors every CEO should know before they ever need them
• Why legal counsel should be selected for deep sell-side bank M&A experience
• The most expensive mistake CEOs make when choosing an investment banker
• The real difference between “regional guesswork” and national buyer intelligence
• Why audited financials and accounting preparedness reduce friction under pressure
• The timing rule that matters most: build relationships before urgency enters the room

The Three Advisors (In Order)

1) Legal Counsel
Not just any attorney — sell-side bank M&A experience matters. A buyer even told Kurt directly: get real experience, save time and money, and stay focused on running the bank.

2) Investment Banker
Not interchangeable. Specialization + reach + closed-deal experience. Kurt’s story about the seed-packet printing company shows how “brand name” bankers can miss the actual buyer universe.

3) Accounting Firm
Often overlooked — but preparedness creates credibility. Maintaining audited financials longer than required can prevent scramble and preserve confidence.

Next Episode

Next episode we shift from external leverage to emotional leverage — the kind CEOs carry alone.

Next episode: Protecting Your Legacy — What Truly Carries Forward (Episode 10)

Resource Mentioned

📘 New Listener Resource Guide
An overview of the foundational episodes and links to the free resources referenced throughout the series — all in one place.
👉 Linked here: Guide

About the Show

The Community Bank Value™ Playbook is a weekly video and audio series for community bank CEOs who want clarity, control, and optionality — whether they remain independent or explore opportunities someday.

About Kurt Knutson

Kurt Knutson is a founder, former CEO, and chairman of a community bank. He has lived through every phase of a bank’s lifecycle and shares practical, experience-based insight to help CEOs lead with confidence.