Southern National Bancorp of Virginia Chairman Georgia Derrico's 2018 pay falls 56% to $1.4M

Southern National Bancorp of Virginia reports 2018 executive compensation

By ExecPay News

Published: April 22, 2019

Southern National Bancorp of Virginia reported fiscal year 2018 executive compensation information on April 22, 2019.
In 2018, eight executives at Southern National Bancorp of Virginia received on average a compensation package of $579K, a 29% decrease compared to previous year.
Average pay of disclosed executives at Southern National Bancorp of Virginia
Georgia S. Derrico, Chairman, received $1.4M in total, which decreased by 56% compared to 2017. 37% of Derrico's compensation, or $507K, was in salary. Derrico also received $185K in bonus, $476K of change in pension value and nonqualified deferred compensation earnings, $157K in stock awards, as well as $58K in other compensation.
For fiscal year 2018, the median employee pay was $39,959 at Southern National Bancorp of Virginia. Therefore, the ratio of Georgia S. Derrico's pay to the median employee pay was 35 to one.
Joe A. Shearin, Chief Executive Officer, received a compensation package of $1.1M, which increased by 115% compared to previous year. 47% of the compensation package, or $521K, was in salary.
R. Roderick Porter, Chairman, earned $1.1M in 2018, a 38% decrease compared to previous year.
Jeffrey H. Culver, President, received $375K in 2018.
William H. Lagos, Chief Financial Officer, earned $265K in 2018, a 39% increase compared to previous year.
Joseph D. Pennington, Chief Financial Officer, received $215K in 2018.
Jeffrey L. Karafa, Chief Financial Officer, earned $145K in 2018.
J. Adam Sothen, Chief Financial Officer, received $99K in 2018, which decreases by 23% compared to 2017.

Related executives

Jeffrey Culver

Southern National Bancorp of Virginia

Former President

Georgia Derrico

Southern National Bancorp of Virginia

Chairman

Jeffrey Karafa

Southern National Bancorp of Virginia

Chief Financial Officer

William Lagos

Southern National Bancorp of Virginia

Chief Financial Officer

Joseph Pennington

Southern National Bancorp of Virginia

Chief Financial Officer

R Porter

Southern National Bancorp of Virginia

Chairman

Joe Shearin

Southern National Bancorp of Virginia

Chief Executive Officer

J Sothen

Southern National Bancorp of Virginia

Chief Financial Officer

You may also like

Source: SEC filing on April 22, 2019.