Andrew Borrmann is the Chief Strategy Officer and Executive Vice President at Colony Bankcorp, Inc., a role he assumed following the company's merger in August 2021. His leadership journey started when he was appointed after the company expanded its board...

Andrew Borrmann is the Chief Strategy Officer and Executive Vice President at Colony Bankcorp, Inc., a role he assumed following the company's merger in August 2021. His leadership journey started when he was appointed after the company expanded its board with new directors from SouthCrest Financial Group. In 2023, Andrew reported a total compensation of approximately $623,635, with most of it coming from his salary and a discretionary bonus reflecting past company performance. His performance metrics are tied to the bank's earnings, deposit growth, and other financial goals. While his educational background is not specified, he plays a crucial role in shaping the strategic direction of Colony Bank in a competitive banking environment. In addition to his responsibilities, Andrew is included in important discussions about executive compensation and the overall governance of the bank, reflecting his influential position in the organization.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Colony Bankcorp CEOs

C

Andrew Borrmann

CEO of Colony Bankcorp

Education

Not specified

Sector of Economy

Financial Services

CEO of Colony Bankcorp for

3 years 11 months (Aug 2021 - Present)

Previous Experience

Not specified

Rivals

Competitors/colleagues of Andrew Borrmann

S

Travis Jaggers

CEO of Stellar Bancorp

2023 Compensation

Stock

$71.29K

Salary

$745.00K

Bonus

$92.61K

Other

$28.71K

Total Holdings

$352.34K

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

O

Patrick S. Barrett

CEO of OceanFirst Financial

2023 Compensation

Stock

$0.00

Salary

$450.00K

Bonus

$285.12K

Other

$65.33K

Total Holdings

$1.71M

P

Anthony Labozzetta

CEO of Provident Financial Services

2023 Compensation

Stock

$61.82K

Salary

$818.27K

Bonus

$309.38K

Other

$121.55K

Total Holdings

$8.84M

Holdings

See how much did Andrew Borrmann make over time.

Andrew Borrmann's holdings in Colony Bankcorp show some significant changes since the merger. He became part of the executive team following the merger on August 1, 2021, positioning him to influence the growth and strategic direction of the bank. However,...

Andrew Borrmann's holdings in Colony Bankcorp show some significant changes since the merger. He became part of the executive team following the merger on August 1, 2021, positioning him to influence the growth and strategic direction of the bank. However, the provided data does not detail specific stock holdings, stock grants, or extensive trading activity. This may indicate a more conservative approach or a focus on stability within his portfolio. As of now, Andrew may choose to gradually increase his equity in the company as it grows. His historical compensation suggests he holds a significant role in the bank’s management, which can impact the value of his holdings as Colony Bank continues to evolve.

Insider Trading

See recent insider trades of Andrew Borrmann.

SFST

2,000 shares

SFST

Jan 16, 2024

Received

SFST

$56.05K

SFST at $29.50/share

Jul 28, 2023

Purchase

SFST

$16.03K

SFST at $22.90/share

May 16, 2023

Purchase

SFST

$4.47K

SFST at $22.35/share

May 9, 2023

Purchase

SFST

$4.29K

SFST at $21.45/share

May 4, 2023

Purchase

SFST

$192.55K

SFST at $27.51/share

Apr 28, 2023

Purchase

SFST

1,500 shares

SFST

Apr 18, 2023

Received

CBAN

$14.22K

CBAN at $14.22/share

Jul 25, 2022

Purchase

CBAN

$49.50K

CBAN at $16.50/share

Feb 8, 2022

Purchase

CBAN

7,000 shares

CBAN

Jan 13, 2022

Received

Compensation History

See how much did Andrew Borrmann make over time.

As of 2023, Andrew Borrmann's total compensation is reported at approximately $623,635. This includes a base salary of $485,000 and a discretionary cash bonus of $58,200, reflecting the bank's performance from the previous year. He also receives around $52,175 in other forms of compensation, which includes car expenses, life insurance premiums, and various director fees. Notably, in past years, his compensation peaked at about $837,383 in 2021, which included stock awards that will vest in future years, showing a direct tie to his continued employment and the bank's performance. This compensation structure aligns with the company's growth and business objectives, focusing on both executive contribution and competitive market standards.

Year

2023

Total Compensation

$595.38K

Salary

$485.00K

Board Justification

The compensation philosophy is designed to reflect the potential contribution of the executive to the achievement of the Company’s and the Bank’s business objectives and to be competitive with base salaries paid by other institutions.

Bonus

$58.20K

Board Justification

Discretionary cash bonus paid in current year based on Company performance in prior year.

Other

$52.18K

Board Justification

Includes various forms of compensation such as car expenses, life insurance premiums, interest on deferred bonus, social club dues, director fees, dividends on restricted stock, disability insurance, and 401(k) match.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards vested in 2023.

Performance Metrics

Performance metrics include achieving an operating return on average assets (ROAA) ratio of greater than 0.89%, operating earnings per share (EPS) greater than $1.53, net growth in organic customer deposit growth of greater than $103.129 million, net operating non-interest expense to average assets (Net NIE) ratio of less than 1.94%, and individual performance goals.

Other Colony Bankcorp CEOs

Here are other CEOs of Colony Bankcorp

T. Heath Fountain

Ex-CEO of Colony Bankcorp

July 2018 - August 2021