Independent Bank CEO William Kessel's 2021 pay rises 4% to $1.3M
Independent Bank reports 2021 executive compensation
By ExecPay News
Published: March 4, 2022
Independent Bank reported fiscal year 2021 executive compensation information on March 4, 2022.
In 2021, five executives at Independent Bank received on average a compensation package of $775K, a 44% increase 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 4% compared to 2020. 39% of Kessel's compensation, or $520K, was in salary. Kessel also received $442K in non-equity incentive plan, $272K in stock awards, as well as $106K in other compensation.
Patrick J. Ervin, Executive Vice President Mortgage Banking, received a compensation package of $666K, which increased by 13% compared to previous year. 41% of the compensation package, or $271K, was in salary.
Stefanie M. Kimball, Executive Vice President Chief Risk Officer, earned $659K in 2021, a 5% increase compared to previous year.
Gavin A. Mohr, Chief Financial Officer, received $612K in 2021, which increases by 190% compared to 2020.
Joel F. Rahn, Executive Vice President Commercial Lending, earned $599K in 2021, a 37% increase compared to previous year.
Related executives
William Kessel
Independent Bank
Chief Executive Officer
Gavin Mohr
Independent Bank
Chief Financial Officer
Patrick Ervin
Independent Bank
Executive Vice President Mortgage Banking
Stefanie Kimball
Independent Bank
Executive Vice President Chief Risk Officer
Joel Rahn
Independent Bank
Executive Vice President Commercial Lending
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Source: SEC filing on March 4, 2022.