Exceutive Compensation: Bank and Thrift CEOs

May 06, 2005, 10:08 a.m. EDT 1 Min Read

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Exceutive Compensation: Bank and Thrift CEOs
2004 Pay packages at selected companies, ranked by total direct compensation Published May 6, 2005
Name and organization	Salary	Bonus	Total cash compensation	Restricted stock awards¹	Long-term incentive payouts	Long-term performance plan²	Number of stock options	Option value³	Total direct compensation⁴	Value realized upon exercise of options	Value of unexcercised option holdings⁵	Value of stock owned	Total of equity value⁶
Kenneth D. Lewis Bank of America	$1,500,000	$5,712,500	$7,212,500	$10,808,700	$0	$0	500,000	$3,127,700	$21,148,900	$0	$58,003,000	$78,902,319	$186,915,619
Richard D. Fairbank Capital One Financial	0	0	0	0	0	0	566,000	20,889,100	20,889,100	56,484,609	560,179,179	71,232,397	730,240,385
Charles Prince Citigroup	983,333	9,690,000	10,673,333	7,237,700	0	0	133,333	1,536,600	19,447,633	965,108	5,386,715	64,108,790	120,162,545
Richard M. Kovacevich Wells Fargo	995,000	7,500,000	8,495,000	0	0	0	790,980	7,579,900	16,074,900	42,873,815	52,123,216	112,260,924	248,693,735
G. Kennedy Thompson Wachovia	1,000,000	7,000,000	8,000,000	4,614,700	0	0	419,048	3,400,000	16,014,700	0	57,727,815	26,627,908	124,804,171
Jerry A. Grundhofer U.S. Bancorp	1,100,042	4,200,000	5,300,042	0	0	0	1,720,149	10,188,700	15,488,742	33,060,705	66,179,324	91,294,637	228,532,341
William B. Harrison Jr. JPMorgan Chase	1,000,000	7,500,000	8,500,000	0	0	0	600,481	5,620,600	14,120,600	6,800,805	19,358,660	54,024,520	117,525,666
James E. Rohr PNC Financial Services	934,615	3,135,000	4,069,615	1,612,000	0	5,507,100	247,000	2,262,000	13,450,715	1,651,326	4,785,144	29,303,820	66,958,335
John Adam Kanas North Fork Bancorp	2,135,923	3,500,000	5,635,923	5,330,800	0	0	37,500	223,900	11,190,623	0	4,640,150	99,735,344	132,430,163
Martin G. McGuinn Mellon Financial	933,333	1,444,000	2,377,333	5,077,400	0	0	249,351	2,203,700	9,658,433	0	2,922,829	37,046,628	61,913,007
William A. Osborn Northern Trust	993,750	2,000,000	2,993,750	1,429,400	2,286,704	0	250,000	4,098,900	8,522,050	1,873,440	15,729,022	38,383,009	78,560,025
Bruce L. Hammonds MBNA	2,553,833	1,083,000	3,636,833	4,687,000	0	0	0	0	8,323,833	9,611,547	69,916,764	60,639,368	160,452,178
Thomas A. Renyi Bank of New York	1,000,000	3,000,000	4,000,000	0	4,862,610	0	340,000	3,763,300	7,763,300	4,209,698	22,246,899	48,490,983	99,676,790
Joseph W. Saunders Providian Financial	858,462	2,200,000	3,058,462	1,582,900	0	0	350,000	2,553,400	7,194,762	0	32,684,500	9,107,712	59,590,198
David A. Daberko National City	1,000,000	1,500,044	2,500,044	1,670,100	640,000	1,271,300	350,000	1,743,800	7,185,244	2,943,532	22,719,095	31,812,848	75,336,007
Henry L. Meyer 3d Keycorp	950,000	2,190,000	3,140,000	0	0	1,693,700	260,000	986,700	5,820,400	743,300	13,991,175	16,980,069	46,755,344
Dennis J. Kuester Marshall & Ilsley	800,000	1,322,400	2,122,400	861,400	942,960	682,800	202,500	2,037,300	5,703,900	2,974,468	18,996,875	18,579,558	55,226,561
C. Dowd Ritter AmSouth	995,000	1,636,775	2,631,775	0	1,779,960	989,000	582,400	2,077,700	5,698,475	3,521,566	15,692,444	21,663,848	57,268,943
George A. Schaefer Jr. Fifth Third Bancorp	990,018	825,000	1,815,018	0	0	729,300	200,000	2,360,600	4,904,918	8,934,186	29,167,736	56,034,418	105,961,194
J. Kenneth Glass First Horizon National	813,215	285,000	1,098,215	0	0	2,181,200	165,528	1,232,500	4,511,915	1,630,878	8,217,337	35,606,273	55,742,061
L. Phillip Humann SunTrust Banks	979,167	1,356,146	2,335,313	0	0	305,100	150,000	1,818,200	4,458,613	143,946	7,914,563	45,087,486	64,548,534
Ralph W. Babb Jr. Comerica	850,025	1,020,030	1,870,055	598,900	0	360,200	150,000	1,507,800	4,336,955	919,500	7,325,720	8,199,746	27,138,931
Carl E. Jones Jr. Regions Financial	900,000	843,750	1,743,750	2,380,600	0	0		0	4,124,350	852,512	5,411,772	30,400,800	46,657,534
John A. Allison 4th BB&T Corp.	900,000	911,250	1,811,250	0	1,250,003	946,200	186,545	1,021,000	3,778,450	2,220,907	14,739,077	18,085,999	45,850,681
Richard L. Carrion Popular	778,333	941,687	1,720,020	1,506,600	0	0		0	3,226,620	0	0	69,053,357	77,226,617
Kerry K. Killinger Washington Mutual	1,000,000	1,926,000	2,926,000	0	8,935,416	0	0	0	2,926,000	3,389,436	82,767,067	66,937,231	170,807,150
James H. Blanchard Synovus	811,000	811,000	1,622,000	0	0	0	89,300	604,800	2,226,800	4,561,271	27,167,674	45,726,800	83,620,645
Ronald E. Logue State Street	919,846	1,300,000	2,219,846	0	2,244,369	0	0	0	2,219,846	0	6,378,803	4,993,294	20,276,004
Marion O. Sandler Golden West Financial	900,000	542,202	1,442,202	0	0	0	0	0	1,442,202	9,796,622	45,729,369	1,938,598,109	1,998,450,706
Herbert M. Sandler Golden West Financial	900,000	542,202	1,442,202	0	0	0	0	0	1,442,202	10,543,400	45,729,369	1,807,522,915	1,868,122,290
Thomas E. Hoaglin Huntington Bancshares	800,000	405,000	1,205,000	0	0	211,900		0	1,416,900	0	7,802,777	3,046,261	14,887,838
Robert G. Wilmers M&T Bank	544,808	500,000	1,044,808	0	0	0		0	1,044,808	15,366,000	59,977,239	505,356,896	583,834,559
Average	$994,366	$2,400,718	$3,395,084	$1,543,694	$716,938	$464,931	266,879	$2,588,694	$7,992,403	$7,064,768	$43,487,853	$173,276,383	$244,192,711

Notes:

1. Expected value calculated at grant date and discounted for risk of forfeiture.
2. Expected value calculated at grant date and discounted for risk of forfeiture, expected inflation.
3. Expected value calculated using Black-Scholes methodology, discounted for risk of forfeiture.
4. Sum of salary, bonus, and expected value of restricted stock, performance plans, and stock options.
5. Potential value of exercisable and unexercisable options at fiscal yearend.
6. Sum of the value of stock directly owned and the potential value of unexercised options at fiscal yearend.

Source: Executive Compensation Resources