Mercantile Bank CEO Robert Kaminski's 2020 pay rises 7% to $1.1M
Mercantile Bank reports 2020 executive compensation
By ExecPay News
Published: April 8, 2021
Mercantile Bank reported fiscal year 2020 executive compensation information on April 8, 2021.
In 2020, five executives at Mercantile Bank received on average a compensation package of $705K, a 5% increase compared to previous year.
Average pay of disclosed executives at Mercantile Bank
Robert B. Kaminski, Jr, Chief Executive Officer, received $1.1M in total, which increased by 7% compared to 2019. 50% of Kaminski's compensation, or $539K, was in salary. Kaminski also received $37 of change in pension value and nonqualified deferred compensation earnings, $204K in non-equity incentive plan, $285K in stock awards, as well as $59K in other compensation.
For fiscal year 2020, the median employee pay was $51,278 at Mercantile Bank. Therefore, the ratio of Robert B. Kaminski, Jr's pay to the median employee pay was 21 to one.
Raymond E. Reitsma, Executive Vice President of Mercantile, and President of the Bank, received a compensation package of $782K, which increased by 7% compared to previous year. 51% of the compensation package, or $401K, was in salary.
Charles E. Christmas, Chief Financial Officer, earned $723K in 2020, a 2% increase compared to previous year.
Lonna L. Wiersma, Senior Vice President and Human Resources Director of Mercantile and the Bank, received $482K in 2020, which increases by 2% compared to 2019.
Robert T. Worthington, Chief Operating Officer, earned $451K in 2020, a 2% increase compared to previous year.
Related executives
Robert Kaminski
Mercantile Bank
Chief Executive Officer
Raymond Reitsma
Mercantile Bank
Chief Operating Officer
Charles Christmas
Mercantile Bank
Chief Financial Officer
Lonna Wiersma
Mercantile Bank
Senior Vice President and Human Resources Director of Mercantile and the Bank
Robert Worthington
Mercantile Bank
General Counsel
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Source: SEC filing on April 8, 2021.