First Business Financial Services CEO Corey Chambas' 2023 pay rises 8% to $2M

First Business Financial Services reports 2023 executive compensation

By ExecPay News

Published: March 8, 2024

First Business Financial Services reported fiscal year 2023 executive compensation information on March 8, 2024.

In 2023, six executives at First Business Financial Services received on average a compensation package of $726K, a 17% decrease compared to previous year.

Average pay of disclosed executives at First Business Financial Services

Corey A. Chambas, Chief Executive Officer, received $2M in total, which increased by 8% compared to 2022. 35% of Chambas' compensation, or $691K, was of change in pension value and nonqualified deferred compensation earnings. Chambas also received $311K in non-equity incentive plan, $610K in salary, $337K in stock awards, as well as $30K in other compensation.

For fiscal year 2023, the median employee pay was $106,051 at First Business Financial Services. Therefore, the ratio of Corey A. Chambas' pay to the median employee pay was 19 to one.

David R. Seiler, Chief Operating Officer, received a compensation package of $729K, which decreased by 6% compared to previous year. 51% of the compensation package, or $375K, was in salary.

Bradley A. Quade, Chief Credit Officer, earned $507K in 2023, a 7% decrease compared to previous year.

Mark J. Meloy, Executive Vice President, received $502K in 2023, which decreases by 6% compared to 2022.

Brian D. Spielmann, Chief Financial Officer, earned $499K in 2023.

Edward G. Sloane, Jr, Chief Financial Officer, received $141K in 2023, which decreases by 79% compared to 2022.