Sundar PichaiSundar Pichai earned $164M in 2023
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Andrew Borrmann

CEO of Colony Bankcorp

Education

Not specified

Economy Sector

Financial Services

Current Tenure

3 years 6 months (Aug 2021 - Present)

Previous Experience

Not specified

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...

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.