Named Executive Goal Level
Exhibit 10.1
| 2017 Incentive Compensation Bonus Plan |
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| Named Executive Goal Level |
| CEO Goal Level | ||||||||||
| Metric |
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| ($ in millions) |
| ($ in millions) | ||||||||
| # | Metric Description | Weight |
| 1 | 2 | 3 | 4 | 5 |
| 1 | 2 | 3 | 4 | 5 |
| 1 | Pre-tax net income* | 30% |
| $ 6.600 | $ 7.100 | $ 7.600 | $ 8.100 | $ 8.600 |
| $ 6.600 | $ 7.100 | $ 7.600 | $ 8.100 | $ 8.600 |
| % of base pay to be earned in cash | 0.0% | 1.88% | 3.75% | 5.63% | 7.50% | 0.0% | 3.75% | 7.50% | 11.25% | 15.00% | ||||
| % of base pay to be earned in equity | 0.0% | 1.88% | 3.75% | 5.63% | 7.50% | 0.0% | 1.88% | 3.75% | 5.63% | 7.50% | ||||
| 2 | Loan growth | 20% |
| $ 650.000 | $ 665.000 | $ 675.000 | $ 685.000 | $ 700.000 |
| $ 650.000 | $ 665.000 | $ 675.000 | $ 685.000 | $ 700.000 |
| % of base pay to be earned in cash | 0.0% | 1.25% | 2.50% | 3.75% | 5.00% | 0.0% | 2.50% | 5.00% | 7.50% | 10.00% | ||||
| % of base pay to be earned in equity | 0.0% | 1.25% | 2.50% | 3.75% | 5.00% | 0.0% | 1.25% | 2.50% | 3.75% | 5.00% | ||||
| 3 | Non-interest expense* | 15% |
| $ 30.200 | $ 29.450 | $ 28.700 | $ 27.950 | $ 27.200 |
| $ 30.200 | $ 29.450 | $ 28.700 | $ 27.950 | $ 27.200 |
| % of base pay to be earned in cash | 0.0% | 0.94% | 1.88% | 2.81% | 3.75% | 0.0% | 1.88% | 3.75% | 5.63% | 7.50% | ||||
| % of base pay to be earned in equity | 0.0% | 0.94% | 1.88% | 2.81% | 3.75% | 0.0% | 0.94% | 1.88% | 2.81% | 3.75% | ||||
| 4 | Core deposits** | 20% |
| $ 407.000 | $ 420.000 | $ 432.000 | $ 452.000 | $ 472.000 |
| $ 407.000 | $ 420.000 | $ 432.000 | $ 452.000 | $ 472.000 |
| % of base pay to be earned in cash | 0.0% | 1.25% | 2.50% | 3.75% | 5.00% | 0.0% | 2.50% | 5.00% | 7.50% | 10.00% | ||||
| % of base pay to be earned in equity | 0.0% | 1.25% | 2.50% | 3.75% | 5.00% | 0.0% | 1.25% | 2.50% | 3.75% | 5.00% | ||||
| 5 | Asset quality*** | 15% |
| 35% | 30% | 25% | 20% | 15% |
| 35% | 30% | 25% | 20% | 15% |
| % of base pay to be earned in cash | 0.0% | 0.94% | 1.88% | 2.81% | 3.75% | 0.0% | 1.88% | 3.75% | 5.63% | 7.50% | ||||
| % of base pay to be earned in equity | 0.0% | 0.94% | 1.88% | 2.81% | 3.75% | 0.0% | 0.94% | 1.88% | 2.81% | 3.75% | ||||
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| Max Cash Award as % of Salary |
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| 0.00% | 6.25% | 12.50% | 18.75% | 25.00% |
| 0.00% | 12.50% | 25.00% | 37.50% | 50.00% |
| Max Equity Award as % of Salary |
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| 0.00% | 6.25% | 12.50% | 18.75% | 25.00% | 0.00% | 6.25% | 12.50% | 18.75% | 25.00% | ||
Plan is based on 5 key performance metrics at bank level – no points earned for first column of achievement.
Up to 50% of base pay may be earned in cash bonus and up to 25% of base pay may be earned in share-based compensation for CEO; 25% for other named executive officers.
*Excludes gain on sale of securities, OTTI charges, and other non-recurring items as determined at the Compensation Committee’s discretion.
**Total Deposits excluding CD and IRA CD
***Classified assets to capital (substandard loans + OREO)/(Tier 1 equity capital + ALLL)
