Chief executives of major southeastern banks received hefty salary and bonus increases last year, reflecting earnings improvement.
The biggest raise went to Wachovia Corp. president and CEO L.M. "Bud" Baker Jr., who earned $550,000, up 22% from $450,000 in 1993. Mr. Baker also saw his bonus increase by $110,000 to $357,500. His total compensation, including stock options, was $1.7 million.