William (Brad) Kessel is the President and CEO of Independent Bank Corporation, a position he has held since January 1, 2013. He joined the company in 1994 and has worked his way up through various roles including Chief Operating Officer...

Current Market Cap

$779.34M

Number of Employees

832

Total Compensation

2015 - 2019

Trending down by -1.75% last year
Showing total compensation for the last 2015 - 2019

Stock

Up by 2.78% last year

Salary

Up by 3.13% last year

Bonus

Down by -18.03% last year

Other

Up by 68.21% last year

Year

2019

Total Compensation

$969.81K

Salary

$495.00K

Board Justification

The compensation committee believes in a balanced approach to executive compensation that aligns with company performance and market benchmarks.

Bonus

$286.78K

Board Justification

Cash bonuses paid under the terms of the Company's Management Incentive Compensation Plan for the annual period ended December 31, 2019.

Other

$68.04K

Board Justification

Includes contributions to the ESOP, matching contributions to defined contribution plans, personal use of company vehicles, dividends on restricted stock, and club dues.

Restricted Stock

$119.98K(5.34K Restricted Stock)

Board Justification

Shares of restricted stock granted in 2019 that cliff vest after three years.

Performance Metrics

Performance metrics for 2019 included earnings per share, organic deposit growth, efficiency ratio, and non-performing assets to total assets.

SEC Filing

From March 6, 2020