ex10-1.htm


Exhibit 10.1


 


	
			2017 Incentive Compensation Bonus Plan

				
			 

				
			 

				
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			Named Executive Goal Level

				
			 

				
			CEO Goal Level

			
	
			Metric

				
			 

				
			 

				
			 

				
			($ 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%

			
	
			 

				
			Max Cash Award as % of Salary

				
			 

				
			 

				
			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

				
			 

				
			 

				
			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)