Independent Bank CEO William Kessel's 2019 pay stays at $1.1M
Independent Bank reports 2019 executive compensation
By ExecPay News
Published: March 5, 2021
Independent Bank reported fiscal year 2019 executive compensation information on March 5, 2021.
In 2019, seven executives at Independent Bank received on average a compensation package of $554K, a 16% decrease compared to previous year.
Average pay of disclosed executives at Independent Bank
William B. Kessel, Chief Executive Officer, received $1.1M in total, which is about the same as previous year. 45% of Kessel's compensation, or $495K, was in salary. Kessel also received $287K in non-equity incentive plan, $251K in stock awards, as well as $68K in other compensation.
Robert N. Shuster, Chief Financial Officer, received a compensation package of $554K, which decreased by 1% compared to previous year. 50% of the compensation package, or $278K, was in salary.
Stefanie M. Kimball, Executive Vice President Chief Risk Officer, earned $538K in 2019, a 1% decrease compared to previous year.
Dennis J. Mack, Executive Vice President Chief Lending Officer, received $521K in 2019, which decreases by 3% compared to 2018.
Patrick J. Ervin, Executive Vice President Mortgage Banking, earned $502K in 2019, a 9% decrease compared to previous year.
Joel F. Rahn, Executive Vice President Commercial Lending, received $341K in 2019.
Stephen A. Erickson, Chief Financial Officer, earned $317K in 2019.
Related executives
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Joel Rahn
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William Kessel
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Chief Executive Officer
Robert Shuster
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Chief Financial Officer
Stefanie Kimball
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Dennis Mack
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Source: SEC filing on March 5, 2021.