Annual Meetings to Watch

Say on Pay

Umpqua Holdings - April 17

Shareholders again get to sign off on executive pay, a year after rejecting the compensation for CEO Ray Davis and other executives. Though it was a nonbinding vote, Umpqua responded last year by hiring an outside firm to review its pay policies, increasing the percentage of stock top executives must own, and cutting Davis' 2011 compensation by 7%.

A Small Bank Defends Its Turf

Cardinal Bankshares - May

The Virginia company has been embroiled in a yearlong battle with Schaller Equity Partners, which wants to add five directors to Cardinal's board. Doug Schaller has taken issue with management, particularly Chairman and CEO Leon Moore. Cardinal's board believes Schaller simply wants the company to sell. The actual meeting date has not been determined.

Dilution Concerns

Porter Bancorp - May 16

The Kentucky company, which is operating under a regulatory order, has asked investors to approve increasing shares of voting common stock to 86 million from 19 million. At March 28, Porter had about 11.8 million shares outstanding. Last month, the company announced that J. Chester Porter would step down as chairman at the meeting.(Image: ThinkStock)

Candy Wars

First Financial Northwest - May 24

Stilwell Group wants shareholders to elect Joseph Stilwell and Spencer Schneider to the Renton, Wash., company's board. Schneider resigned from the board earlier this year after reportedly making several demands - including an insistence that the company limit snacks at this year's annual meeting to hard candy. (Image: ThinkStock)

An Active Activist

Harvard Illinois Bancorp - May 24

Stilwell is also seeking representation on the board of Harvard Illinois with a singular objective to get the company to sell. Harvard Illinois' board has been fighting hard. Directors wrote in a March letter to shareholders that the company is "under attack by a New York hedge fund," while urging investors to reject Stilwell's nominee. (Image: Michael Chu)