First Business Financial Services CEO Corey Chambas' 2021 pay rises 19% to $1.6M

First Business Financial Services reports 2021 executive compensation

By ExecPay News

Published: March 8, 2022

First Business Financial Services reported fiscal year 2021 executive compensation information on March 8, 2022.

In 2021, five executives at First Business Financial Services received on average a compensation package of $776K, a 14% increase compared to previous year.

Average pay of disclosed executives at First Business Financial Services

Corey A. Chambas, Chief Executive Officer, received $1.6M in total, which increased by 19% compared to 2020. 31% of Chambas' compensation, or $510K, was in salary. Chambas also received $401K of change in pension value and nonqualified deferred compensation earnings, $378K in non-equity incentive plan, $312K in stock awards, as well as $29K in other compensation.

For fiscal year 2021, the median employee pay was $105,973 at First Business Financial Services. Therefore, the ratio of Corey A. Chambas' pay to the median employee pay was 15 to one.

David R. Seiler, Chief Operating Officer, received a compensation package of $670K, which increased by 11% compared to previous year. 47% of the compensation package, or $313K, was in salary.

Edward G. Sloane, Jr, Chief Financial Officer, earned $602K in 2021, a 8% increase compared to previous year.

Bradley A. Quade, Chief Credit Officer, received $491K in 2021, which increases by 13% compared to 2020.

Mark J. Meloy, Chief Executive Officer, earned $486K in 2021, a 9% increase compared to previous year.