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.
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.
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Jeffrey Culver
Southern National Bancorp of Virginia
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Georgia Derrico
Southern National Bancorp of Virginia
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Jeffrey Karafa
Southern National Bancorp of Virginia
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William Lagos
Southern National Bancorp of Virginia
Chief Financial Officer
Joseph Pennington
Southern National Bancorp of Virginia
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R Porter
Southern National Bancorp of Virginia
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Joe Shearin
Southern National Bancorp of Virginia
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J Sothen
Southern National Bancorp of Virginia