...typical pigs.
M&T Paid CEO Wilmers Almost $1M in '07
biz.yahoo.com
M&T Paid CEO Wilmers Almost $1M in '07
Thursday March 6, 5:21 pm ET
M&T Bank Paid Chief Executive Robert G. Wilmers $985,979 in 2007
NEW YORK (AP) -- M&T Bank Corp. paid Chief Executive Robert G. Wilmers $985,979 in his first year as chief executive of the bank, the company said in a regulatory filing Thursday.
Wilmers, 73, earned a salary of $646,154. The Buffalo, N.Y.-based bank paid him a bonus of $275,000.
ADVERTISEMENT
The bank reported $64,825 in "other" compensation, which included club membership, parking, meals and expenses from an apartment in Buffalo.
M&T Bank earned $654.3 million in 2007, a 22 percent decline. The bank set aside more money preparing for unpaid debt and had to pay more to raise money for loans.
M&T Bank's stock lost a third of its value in 2007.
The company runs 704 branches in New York, Pennsylvania, Maryland, Delaware, New Jersey, Virginia and West Virginia, and has a $48.35 billion loan portfolio.
The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission. |
