Midland States Bancorp CEO Jeffrey Ludwig's 2019 pay jumps 32% to $1.4M
Midland States Bancorp reports 2019 executive compensation
By ExecPay News
Published: March 23, 2020
Midland States Bancorp reported fiscal year 2019 executive compensation information on March 23, 2020.
In 2019, seven executives at Midland States Bancorp received on average a compensation package of $650K, a 17% decrease compared to previous year.
Average pay of disclosed executives at Midland States Bancorp
Jeffrey G. Ludwig, Chief Executive Officer, received $1.4M in total, which increased by 32% compared to 2018. 42% of Ludwig's compensation, or $572K, was in salary. Ludwig also received $393K in non-equity incentive plan, $373K in stock awards, as well as $17K in other compensation.
For fiscal year 2019, the median employee pay was $48,157 at Midland States Bancorp. Therefore, the ratio of Jeffrey G. Ludwig's pay to the median employee pay was 28 to one.
Jeffrey S. Mefford, Executive Vice President and President of the Bank, received a compensation package of $891K, which increased by 30% compared to previous year. 45% of the compensation package, or $400K, was in salary.
Douglas J. Tucker, Senior Vice President and Corporate Counsel, earned $668K in 2019, a 8% increase compared to previous year.
James R. Stewart, Senior Vice President and Chief Risk Officer of the Bank, received $613K in 2019, which increases by 9% compared to 2018.
Donald J. Spring, Chief Financial Officer, earned $446K in 2019.
Eric T. Lemke, Chief Financial Officer, received $347K in 2019.
Stephen A. Erickson, Chief Financial Officer, earned $231K in 2019, a 58% decrease compared to previous year.
Related executives
Jeffrey Ludwig
Midland States Bancorp
Chief Executive Officer
Jeffrey Mefford
Midland States Bancorp
President of the Bank
Douglas Tucker
Midland States Bancorp
Senior Vice President and Corporate Counsel
Eric Lemke
Midland States Bancorp
Chief Financial Officer
James Stewart
Midland States Bancorp
Senior Vice President and Chief Risk Officer
Donald Spring
Midland States Bancorp
Chief Financial Officer
Stephen Erickson
Midland States Bancorp
Chief Financial Officer
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Source: SEC filing on March 23, 2020.