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Article: Survey Finds CEO, Worker Salaries Rose Last Year.(community banks)
- Article from:
- American Banker
- Article date:
- September 17, 2003
- Author:
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Chief executives of community banks got their biggest pay increases in at least seven years in 2002, thanks largely to a refinancing boom that led to record earnings for many banks and thrifts, according to a survey report from the America's Community Bankers.
The trade group's 2003 Compensation Survey, released last week, said CEO salaries rose 11.5% from Jan. 31, 2002, to the same date this year, to an average $196,526. With profit sharing and bonus compensation, CEOs' average total income rose to $263,068.
Their salaries rose by less than 4% in each of the previous two years, the report said.
Rob Drozdowski, the association's senior ...