Charles M. Shaffer is the CEO of Seacoast Banking Corporation of Florida, having stepped into the role on January 1, 2021. He holds a Bachelor’s degree in Finance and a Bachelor’s in Accounting, along with an MBA in Finance. Before becoming CEO, he served as the President and COO of the company. Shaffer has been with Seacoast for many years, working in various positions that include CFO and community banking executive. His leadership has helped shape the bank's strategies in retail, commercial banking, and digital operations. Interestingly, his compensation in 2022 summed up to around $2.8 million, mainly driven by salary and performance-based bonuses. Notably, he earned $1.15 million just from bonuses, reflecting his focus on driving company results. Shaffer has been heavily involved in community service, holding positions on various local boards, which shows his commitment beyond the office.

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Charles M. Shaffer

Ex-CEO of Seacoast Banking Corporation of Florida

Education

Bachelor of Science degree in Finance, Bachelor of Arts degree in Accounting, MBA with a finance specialization

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1973 - 52 years ago

CEO of Seacoast Banking Corporation of Florida for

2 years 11 months (Jan 2021 - Dec 2023)

Previous Experience

President and Chief Operating Officer of Seacoast since June 2020. Previously served as Chief Financial Officer and Executive Vice President.

Rivals

Competitors/colleagues of Charles M. Shaffer

Timothy S. Crane

CEO of Wintrust Financial

2023 Compensation

Stock

$276.30K

Salary

$1.00M

Bonus

$1.14M

Other

$33.85K

Total Holdings

$8.91M

C. Malcolm Holland, III

Founder and CEO of Veritex Holdings

2023 Compensation

Stock

$0.00

Salary

$800.00K

Bonus

$320.00K

Other

$332.37K

Total Holdings

$5.63M

John C. Corbett

CEO of SouthState

2023 Compensation

Stock

$2.89M

Salary

$1.04M

Bonus

$1.33M

Other

$51.75K

Total Holdings

$10.92M

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

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

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

Holdings

See how much did Charles M. Shaffer make over time.

As the CEO of Seacoast Banking Corporation, Charles M. Shaffer has had significant investments in the company. His wealth has been closely tied to the performance of Seacoast’s stock, especially during pivotal moments when he was transitioning into the CEO role. For instance, in 2021, Charles held a significant portion of his wealth in stock that was poised for growth, as he aimed to align his interests with the company's long-term performance. His holdings included restricted stock units, reflecting a vested interest in the bank’s success. In the years leading up to 2022, there were fluctuations in his equity stakes, influenced by market movements and overall company performance. Currently, the value of his stock awards is noteworthy, signaling both his commitment and the confidence the market has in his leadership initiatives.

Total Stock Sold

$691.18K

SBCF

$691.18K

21,182 SBCF shares

What if they kept their stock?

If Charles M. Shaffer didn't sell their stock, today they would have:
Extra SBCF21,182 shares worth $399.07K.
This is -42.26% and $292.11K less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Charles M. Shaffer.

SBCF

$1.21M

SBCF at $24.76/share

Apr 1, 2024

Received

SBCF

12,581 shares

SBCF

Feb 29, 2024

Received

SBCF

$300.01K

SBCF at $23.63/share

Apr 1, 2023

Received

SBCF

13,303 shares

SBCF

Mar 1, 2023

Received

SBCF

$144.24K

SBCF at $30.71/share

Feb 27, 2023

Sale

SBCF

$179.98K

SBCF at $34.34/share

Apr 1, 2022

Received

SBCF

10,253 shares

SBCF

Mar 1, 2022

Received

SBCF

$381.65K

SBCF at $36.35/share

Feb 1, 2022

Sale

SBCF

$7.66K

SBCF at $34.05/share

Nov 30, 2021

Purchase

SBCF

$7.59K

SBCF at $31.62/share

Aug 26, 2021

Purchase

Compensation History

See how much did Charles M. Shaffer make over time.

In 2022, Charles M. Shaffer's total compensation reached approximately $2.8 million, which included a base salary of $720,000 and a hefty bonus of $1.15 million based on company performance. His compensation model emphasizes alignment with shareholder interests, showcasing his drive for results. Along with his salary and bonuses, he has also accrued value from vested stock awards amounting to over $736,000. His strategic focus on performance metrics such as earnings per share (EPS) growth demonstrates a clear link between his actions and the company’s success. This pay-for-performance approach is integral not just for him, but it also sets a standard for the company's leadership culture moving forward. With a commitment to long-term growth and sustainability, his compensation reflects the high stakes involved in navigating the financial sector.

Year

2022

Total Compensation

$2.82M

Salary

$720.00K

Board Justification

The compensation philosophy emphasizes pay-for-performance, aligning executive compensation with long-term shareholder interests and company performance metrics.

Bonus

$1.15M

Board Justification

Annual cash bonuses based on Company performance for the year and the achievement of pre-established individual goals.

Other

$207.50K

Board Justification

Includes contributions to retirement plans, supplemental insurance, and other benefits.

Restricted Stock

$736.46K(22.55K RSU)

Board Justification

Restricted Stock Awards that vested in 2022, reflecting performance in 2021.

Performance Metrics

Average annual EPS growth and average annual return on average tangible common equity (ROATE) were key performance metrics used to determine compensation.

Other Seacoast Banking Corporation of Florida CEOs

Here are other CEOs of Seacoast Banking Corporation of Florida

Dennis S. Hudson, III

Founder and Ex-CEO of Seacoast Banking Corporation of Florida

January 2008 - January 2021

Julie Kleffel

CEO of Seacoast Banking Corporation of Florida

December 2023 - Present