Thomas H. Jacobsen, chairman and chief executive officer of Mercantile Bancorp. of St. Louis had total compensation last year of $13.7 million, according to the company's annual proxy.

Mr. Jacobsen earned a salary of $850,000, up 17% from a year earlier, and a bonus of $1.02 million, an 18% increase. He also received restricted stock awards of $7.77 million and received options valued at $3.5 million that expire in 2008.

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