How Meilstrup was paid
$892,855 in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Eric J. MeilstrupChief Executive Officer, Director | $500,000 | $84,607 | $68,750 | $190,241 | $49,257 | $892,855 |
| Robert C. Haines IIPresident | $298,875 | $33,843 | $41,095 | $106,671 | $45,737 | $526,222 |
| Andrew WallaceExecutive Vice President and Chief Financial Officer | $204,041 | $11,403 | $31,729 | — | $15,215 | $262,388 |
| Michael R. MillerExecutive Vice President and Trust Officer | $292,000 | $33,843 | $45,406 | $4,319 | $22,746 | $398,314 |
| Bradley A. RuppertExecutive Vice President and Chief Investment Officer | $274,000 | $31,682 | $42,607 | $78,399 | $36,632 | $463,318 |
What changed and why
- 5.4%Base salaries increased at an average of 5.4% of salary for each NEO effective January 2025.
- Short-term cash incentives were earned based on company financial performance metrics including net income and efficiency ratio.
- 16%Equity grants were issued at 16% of base salary for most NEOs and 24% for Mr. Meilstrup and Mr. Haines.
- The defined benefit pension plan was hard-frozen in March 2025 and fully terminated by the end of December 2025.
- $893KEric J. Meilstrup received total compensation of $892,855 for fiscal year 2025, resulting in a CEO to median employee pay ratio of 14.94:1.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.