First Bancorp CEO Tony McKim's 2022 pay rises 4% to $1.2M
First Bancorp reports 2022 executive compensation
By ExecPay News
Published: March 10, 2023
First Bancorp reported fiscal year 2022 executive compensation information on March 10, 2023.
In 2022, five executives at First Bancorp received on average a compensation package of $577K, a 5% increase compared to previous year.
Average pay of disclosed executives at First Bancorp
Tony C. McKim, Chief Executive Officer, received $1.2M in total, which increased by 4% compared to 2021. 56% of McKim's compensation, or $670K, was in salary. McKim also received $300K in bonus, $201K in stock awards, as well as $21K in other compensation.
For fiscal year 2022, the median employee pay was $67,499 at First Bancorp. Therefore, the ratio of Tony C. McKim's pay to the median employee pay was 18 to one.
Susan A. Norton, Chief Administrative Officer, received a compensation package of $477K, which increased by 12% compared to previous year. 60% of the compensation package, or $285K, was in salary.
Richard M. Elder, Chief Financial Officer, earned $431K in 2022, a 8% increase compared to previous year.
Sarah J. Tolman, Executive Vice President and Chief Banking Officer, received $404K in 2022, which increases by 2% compared to 2021.
Jonathan W. Nicholson, Executive Vice President and Chief Lending Officer, earned $383K in 2022, a 3% increase compared to previous year.
Related executives
Tony McKim
First Bancorp
Chief Executive Officer
Susan Norton
First Bancorp
Chief Administrative Officer
Richard Elder
First Bancorp
Chief Financial Officer
Sarah Tolman
First Bancorp
Executive Vice President and Chief Banking Officer
Jonathan Nicholson
First Bancorp
Executive Vice President and Chief Lending Officer
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Source: SEC filing on March 10, 2023.