Gavin A. Mohr has been the Chief Financial Officer and CEO of Independent Bank Corporation (IBCP) since September 2020. Before joining IBCP, he served as CFO at STAR Financial Bank, a sizable institution in Indiana. Under his leadership, IBCP has...

Gavin A. Mohr has been the Chief Financial Officer and CEO of Independent Bank Corporation (IBCP) since September 2020. Before joining IBCP, he served as CFO at STAR Financial Bank, a sizable institution in Indiana. Under his leadership, IBCP has been focusing on achieving specific financial goals, reflected in his performance metrics, which include earnings per share and deposit growth. In 2023, Mohr's total compensation reached approximately $542,630, with a base salary of $302,000 and additional performance-based bonuses. His career spans significant roles in finance, demonstrating a solid grasp of the industry. Interestingly, he has seen notable fluctuations in his personal investments in the bank, indicating a strong belief in the company’s future. His trading activity shows that in 2021, he was particularly active, making insider trades that peaked over $200,000 within months. This reflects a high level of confidence in his organization and underscores his commitment to its long-term success. Gavin's practical experience and strategic focus continue to guide IBCP in a competitive banking landscape.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Independent Bank Corporation CEOs

I

Gavin A. Mohr

CEO of Independent Bank Corporation

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1975 - 50 years ago

CEO of Independent Bank Corporation for

4 years 6 months (Sep 2020 - Present)

Previous Experience

Chief Financial Officer of STAR Financial Bank.

Rivals

Competitors/colleagues of Gavin A. Mohr

F

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

H

Kevin S. Kim

CEO of Hope Bancorp

2023 Compensation

Stock

$700.98K

Salary

$1.05M

Bonus

$1.05K

Other

$60.71K

Total Holdings

$10.60M

S

Christopher J. McComish

CEO of S&T Bancorp

2023 Compensation

Stock

$150.00K

Salary

$350.00K

Bonus

$70.00K

Other

$20.00K

Total Holdings

$715.40K

F

Mark K. Hardwick

CEO of First Merchants Corporation

2023 Compensation

Stock

$611.04K

Salary

$728.00K

Bonus

$369.81K

Other

$78.87K

Total Holdings

$128.69K

A

H. Palmer Proctor, Jr.

CEO of Ameris Bancorp

2023 Compensation

Stock

$1.90M

Salary

$925.00K

Bonus

$1.44M

Other

$98.20K

Total Holdings

$28.94M

P

George M. Pereira

CEO of Pacific Premier Bancorp

2022 Compensation

Stock

$2.05M

Salary

$950.00K

Bonus

$522.50K

Other

$0.00

Total Holdings

$185.07K

Holdings

See how much did Gavin A. Mohr make over time.

Gavin A. Mohr's holdings in Independent Bank Corporation have shown significant fluctuations, with a marked increase in trading activity from 2020 to 2021. Starting in September 2020, he executed multiple trades, reflecting his growing investment confidence. Notably, his trading peaked...

Gavin A. Mohr's holdings in Independent Bank Corporation have shown significant fluctuations, with a marked increase in trading activity from 2020 to 2021. Starting in September 2020, he executed multiple trades, reflecting his growing investment confidence. Notably, his trading peaked at $227,480 in January 2022, showcasing a strong financial position and belief in the company’s potential. As of now, he has been diversifying his trades, with amounts ranging from $39,470 to over $650,000 throughout 2023, indicating sustained engagement and investment strategy centered on IBCP. These trades highlight an evolving wealth backed by his ongoing role and efforts within the company.

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Insider Trading

See recent insider trades of Gavin A. Mohr.

IBCP

2,517 shares

IBCP

Feb 6, 2024

Received

IBCP

$36.52K

IBCP at $16.60/share

May 3, 2023

Purchase

IBCP

2,517 shares

IBCP

Feb 6, 2023

Received

IBCP

$34.69K

IBCP at $21.68/share

Jan 30, 2023

Purchase

IBCP

$42.60K

IBCP at $21.30/share

Aug 22, 2022

Purchase

IBCP

2,190 shares

IBCP

Jan 25, 2022

Received

IBCP

2,865 shares

IBCP

Jan 26, 2021

Received

IBCP

3,000 shares

IBCP

Sep 14, 2020

Received

Compensation History

See how much did Gavin A. Mohr make over time.

In 2023, Gavin A. Mohr's total compensation was approximately $542,630, which included a salary of $302,000 and performance bonuses reaching $70,147. His bonus structure relies heavily on achieving specific company performance goals, with a target set around 50% of his base salary tied to financial metrics like earnings per share and deposit growth. Over the years, his compensation has reflected a steady increase as he establishes his leadership at Independent Bank Corporation, with a notable $601,932 in 2022. This reflects a significant jump, including a mix of compensation components designed to attract and retain talent while motivating executive performance.

Year

2023

Total Compensation

$484.02K

Salary

$302.00K

Board Justification

The compensation program aims to attract and retain talented individuals, motivate and reward executives for achieving business goals, align incentives with strategies and goals, and provide competitive compensation at a reasonable cost.

Bonus

$70.15K

Board Justification

The bonus is based on the achievement of certain Company performance objectives and predetermined individual goals, with a target bonus level of 50% of base salary for the CEO. No bonuses were payable under the 2023 plan unless the Company's earnings per share equaled or exceeded $2.52.

Other

$45.98K

Board Justification

Includes contributions to the ESOP, matching contributions to qualified defined contribution plans, IRS determined personal use of company owned automobiles, dividends on restricted stock, and country club and other social club dues.

Restricted Stock

$65.89K(2.52K restricted stock)

Board Justification

The shares of restricted stock granted in 2023 cliff vest after three years. The number of shares reflects the number of shares originally granted.

Performance Metrics

The performance metrics include earnings per share, efficiency ratio, non-performing assets to total assets, deposit balance growth, and deposit account growth.

Other Independent Bank Corporation CEOs

Here are other CEOs of Independent Bank Corporation

William (Brad) Kessel

Ex-CEO of Independent Bank Corporation

January 2013 - December 2019