Charles H. Updegraff, Jr. served as the CEO of Citizens & Northern Corporation from January 2010 until his retirement in August 2014. With a focus on banking, he was instrumental in steering the company through challenging economic times. Updegraff's career...

Charles H. Updegraff, Jr. served as the CEO of Citizens & Northern Corporation from January 2010 until his retirement in August 2014. With a focus on banking, he was instrumental in steering the company through challenging economic times. Updegraff's career highlights include his rise from Executive Vice President to Chief Executive Officer, reflecting a deep commitment to the organization. During 2014, he earned a total compensation of approximately $1.11 million, showcasing his financial acumen and the value he brought to the company. Notably, he had a vested interest in the company's performance, as evidenced by his stock holdings that peaked at around $1.9 million in late 2019, indicative of his confidence in the future of Citizens & Northern. Beyond finance, he played an active role in numerous committees, influencing the corporate strategy and helping develop future leaders in banking. This hands-on approach showed his dedication to both the bank's growth and the community it served.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Citizens & Northern CEOs

C

Charles H. Updegraff, Jr.

Ex-CEO of Citizens & Northern

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

CEO of Citizens & Northern for

4 years 7 months (Jan 2010 - Aug 2014)

Previous Experience

President and Chief Executive Officer of Citizens Bancorp, Inc. and Citizens Trust Company

Rivals

Competitors/colleagues of Charles H. Updegraff, Jr.

H

John W. Bordelon

CEO of Home Bancorp

2023 Compensation

Stock

$147.04K

Salary

$484.62K

Bonus

$245.00K

Other

$126.54K

Total Holdings

$8.92M

W

David D. Nelson

CEO of West Bancorporation

2010 Compensation

Stock

$0.00

Salary

$203.08K

Bonus

$125.00K

Other

$50.75K

Total Holdings

$4.74M

P

David L. Trautman

CEO of Park National

2023 Compensation

Stock

$552.75K

Salary

$750.00K

Bonus

$364.00K

Other

$103.40K

Total Holdings

$12.21M

M

Len D. Devaisher

CEO of MidWestOne Financial Group

2022 Compensation

Stock

$0.00

Salary

$426.92K

Bonus

$100.00K

Other

$17.05K

Total Holdings

$957.41K

F

Gary R. Mills

CEO of First Community Bankshares

2020 Compensation

Stock

$155.97K

Salary

$567.00K

Bonus

$265.78K

Other

$81.92K

Total Holdings

$1.58M

Holdings

See how much did Charles H. Updegraff, Jr. make over time.

Charles H. Updegraff, Jr. had notable stock holdings at Citizens & Northern Corporation, peaking at around $1.9 million in late 2019. This spike reflected his deep ties to the company and confidence in its trajectory. His holdings fluctuated significantly during...

Charles H. Updegraff, Jr. had notable stock holdings at Citizens & Northern Corporation, peaking at around $1.9 million in late 2019. This spike reflected his deep ties to the company and confidence in its trajectory. His holdings fluctuated significantly during his tenure, with values around $1.88 million in September 2019 and steadily decreasing thereafter. He consistently held a substantial stake in the company, underscoring not just a financial commitment but also a belief in the bank's potential. Updegraff's stock interests varied over the years, but they remained a considerable part of his overall financial portfolio, indicating his strategic foresight regarding the banking industry.

Insider Trading

See recent insider trades of Charles H. Updegraff, Jr..

CZNC

$30.43K

CZNC at $20.45/share

Jan 3, 2014

Received

CZNC

$46.10K

CZNC at $19.21/share

Jan 3, 2013

Received

CZNC

$43.90K

CZNC at $18.54/share

Jan 4, 2012

Received

CZNC

$25.09K

CZNC at $15.06/share

Jan 4, 2011

Received

Compensation History

See how much did Charles H. Updegraff, Jr. make over time.

During his time as CEO from 2010 to 2014, Charles H. Updegraff, Jr. saw his total compensation reflect the bank's performance and his leadership effectiveness. In 2014, he earned about $1.11 million, which included a salary of $260,962, with no cash bonus awarded that year. He received stock and options that contributed to his overall compensation, but the bulk came from other benefits, including retirement and severance. His compensation was aligned with the bank’s performance metrics, focusing on corporate results such as return on average equity. This design aimed to ensure that the leadership was incentivized to enhance long-term success for both shareholders and the community served by Citizens & Northern.

Year

2014

Total Compensation

$1.04M

Salary

$260.96K

Board Justification

The compensation program is designed to provide competitive compensation aligned with corporate performance and individual contributions, with a focus on long-term success and retention of key executives.

Bonus

$0.00

Board Justification

No annual cash bonus was awarded for 2014 as per the Incentive Award Plan.

Other

$749.02K

Board Justification

Includes severance benefits and other compensation related to retirement and employment termination.

Restricted Stock

$30.43K(1.49K common stock)

Board Justification

Restricted stock awards vested in 2014, based on the market price of the Corporation’s stock at the time of vesting.

Performance Metrics

The performance metrics for determining compensation included corporate performance measures such as return on average equity and individual performance contributions.

Other Citizens & Northern CEOs

Here are other CEOs of Citizens & Northern

Craig G. Litchfield

Ex-CEO of Citizens & Northern

January 2009 - December 2009

Mark A. Hughes

Ex-CEO of Citizens & Northern

August 2014 - March 2015