Independent Bank CEO William Kessel's 2020 pay rises 17% to $1.3M
Independent Bank reports 2020 executive compensation
By ExecPay News
Published: March 5, 2021
Independent Bank reported fiscal year 2020 executive compensation information on March 5, 2021.
In 2020, eight executives at Independent Bank received on average a compensation package of $539K, a 3% decrease compared to previous year.
Average pay of disclosed executives at Independent Bank
William B. Kessel, Chief Executive Officer, received $1.3M in total, which increased by 17% compared to 2019. 39% of Kessel's compensation, or $510K, was in salary. Kessel also received $469K in non-equity incentive plan, $257K in stock awards, as well as $56K in other compensation.
Stefanie M. Kimball, Executive Vice President Chief Risk Officer, received a compensation package of $629K, which increased by 17% compared to previous year. 44% of the compensation package, or $274K, was in salary.
Dennis J. Mack, Executive Vice President Chief Lending Officer, earned $613K in 2020, a 18% increase compared to previous year.
Patrick J. Ervin, Executive Vice President Mortgage Banking, received $591K in 2020, which increases by 18% compared to 2019.
Joel F. Rahn, Executive Vice President Commercial Lending, earned $438K in 2020, a 28% increase compared to previous year.
Stephen A. Erickson, Chief Financial Officer, received $378K in 2020, which increases by 19% compared to 2019.
Gavin A. Mohr, Chief Financial Officer, earned $211K in 2020.
Robert N. Shuster, Chief Financial Officer, received $158K in 2020, which decreases by 72% compared to 2019.
Related executives
William Kessel
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Chief Executive Officer
Gavin Mohr
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Patrick Ervin
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Stefanie Kimball
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Executive Vice President Chief Risk Officer
Dennis Mack
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Robert Shuster
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Chief Financial Officer
Stephen Erickson
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Source: SEC filing on March 5, 2021.