Southern National Bancorp of Virginia CEO Dennis Zember's 2021 pay jumps 28% to $1.6M

Southern National Bancorp of Virginia reports 2021 executive compensation

By ExecPay News

Published: April 15, 2022

Southern National Bancorp of Virginia reported fiscal year 2021 executive compensation information on April 15, 2022.

In 2021, six executives at Southern National Bancorp of Virginia received on average a compensation package of $695K, a 16% increase compared to previous year.

Average pay of disclosed executives at Southern National Bancorp of Virginia

Dennis J. Zember, Jr, Chief Executive Officer, received $1.6M in total, which increased by 28% compared to 2020. 39% of Zember's compensation, or $632K, was in stock awards. Zember also received $342K in non-equity incentive plan, $618K in salary, as well as $27K in other compensation.

For fiscal year 2021, the median employee pay was $50,442 at Southern National Bancorp of Virginia. Therefore, the ratio of Dennis J. Zember, Jr's pay to the median employee pay was 32 to one.

Matthew A. Switzer, Chief Financial Officer, received a compensation package of $643K. 45% of the compensation package, or $291K, was in salary.

Jeffrey L. Karafa, Chief Financial Officer, earned $581K in 2021, a 55% increase compared to previous year.

Stephen B. Weber, Executive Vice President and Chief Strategy Officer, received $509K in 2021, which decreases by 12% compared to 2020.

G. Cody Sheflett, Executive Vice President and Chief Information Officer, earned $423K in 2021, a 10% increase compared to previous year.

Marie T. Leibson, Executive Vice President and Chief Credit Officer, received $394K in 2021, which is about the same as previous year.