The chief executives of the top three banks by deposits in metro Atlanta all got a boost in total compensation in a turbulent 2011.
The top officers of SunTrust Banks, Wells Fargo and Bank of America each has his own operational challenges and circumstances, and the economic turmoil in Europe and the U.S. weighed on each bank’s share prices.
SunTrust, Wells Fargo and Bank of America improved their full year earnings in 2011 over the previous year, but all three banks have announced efforts to downsize and become more efficient in certain areas. Each continues to be dogged to various degrees by allegedly flawed foreclosure practices.
Here’s a look at how the executives' total compensation stacked up in 2011 compared to 2010.
SunTrust Chairman and CEO William Rogers
Metro Atlanta rank: No. 1 by deposits
National rank: No. 12 by assets
Earnings or loss per share 2011 vs. 2010: 94 cent profit vs. 18 cent loss#
Total compensation 2011 vs. 2010: $9.3 million, up 188 percent*+
Wells Fargo Chairman, President and CEO John Stumpf
Metro Atlanta rank: No. 2 by deposits
National rank: No. 4 by assets
Earnings or loss per share 2011 vs. 2010: $2.82 profit vs. $2.21 profit#
Total compensation 2011 vs. 2010: $19.8 million, up 4.6 percent*
Bank of America CEO Brian Moynihan
Metro Atlanta rank: No. 3 by deposits
National rank: No. 2 by assets
Earnings or loss per common share 2011 vs. 2010: 1 cent profit vs. 37 cent loss#
Total compensation 2011 vs. 2010: $8.1 million, up 317 percent*
Notes:
*Total compensation includes, among other things salary, stock awards and deferred compensation.
+Rogers was promoted to CEO in June 2011 and he became chairman in January 2012.
#This measure includes such things as possible goodwill impairments or the impact of preferred dividend payments.
Sources: Compensation data is from proxy filings with the Securities and Exchange Commission by SunTrust, Wells Fargo and Bank of America. Deposit market share data is from the Federal Deposit Insurance Corp. National asset rankings compiled by SNL Financial.
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