M&A Pays for Bank Execs
August 6, 2012 7:00 AM
Kim S. Price
President, CEO
Citizens South Banking (CSBC), Gastonia, N.C.
Parachute: $3.79M
Equity: $2.3M
Other perks: Post-merger consulting job; co-leadership of $500,000 charitable fund
Buyer/Deal Value: Park Sterling (PSTB)/
W.R. Collier
Chairman, CEO
American State Financial, Lubbock, Texas
Parachute: $3.4M from a change-in-control settlement and deal-completion bonus.
Equity: $33M
Other perks: a 3-year-employment arrangement with the buyer worth $3.9 million, excluding stock awards and perquisites.
Buyer/Deal Value: Prosperity Bancshares (PB) /
(Image: Fotolia)
John Doherty
Chairman, CEO
Central Bancorp (CEBK), Somerville, Mass.
Parachute: $2.2M
Equity: $9.8M
Buyer/Value: Independent Bank (INDB) /
(Image: Fotolia)
Ross Prossner
President, CEO
Beacon Federal Bancorp (BFED), East Syracuse, N.Y.
Parachute: a $1.49M
Equity: $4.17M
Other perks: $136,000 per year in retirement, under current contract
Buyer/Deal Value: Berkshire Hills (BHLB)/
(Image: Thinkstock)
James D'Agostino Jr.
Chairman & CEO
Encore Bancshares (EBTX), Houston
Parachute: $1.13M payment
Equity: $12M
Buyer/Deal Value: Cadence Bancorp /
W. Bibb Lamar Jr.
President, CEO
BancTrust Financial Group (BTFG), Mobile, Ala.
Parachute: $1.1M
Equity: $280,000
Buyer/Value: Trustmark (TRMK)/
Carl Webb
CEO
Pacific Capital Bancorp,Santa Barbara, Calif.
Parachute: Zero. He has not drawn a salary since taking over in 2010.
Equity: Nothing publicly disclosed, but Webb is a senior principal of Ford Management, the private equity fund that paid $500M for Pacific Capital two years ago.
Buyer/Value: UnionBanCal, a subsidiary of Mitsubishi UFJ Financial Group /
