Joseph B. Bower, Jr. is the former CEO of CNB Financial Corporation, a position he held from 2010 until his retirement on December 31, 2022. He holds a Bachelor of Science degree in Accounting from The Pennsylvania State University and...

Joseph B. Bower, Jr. is the former CEO of CNB Financial Corporation, a position he held from 2010 until his retirement on December 31, 2022. He holds a Bachelor of Science degree in Accounting from The Pennsylvania State University and has built a solid career in finance. During his tenure, Bower saw significant growth in the company and maintained a performance-driven compensation approach. His last total compensation was around $2.3 million, which included salary, bonuses, and vested stock. Interesting to note, Bower's career in leadership of CNB coincided with strategic shifts in the banking industry. He was proactive in aligning the interests of key executives with those of shareholders through a focus on performance-based pay. As he neared retirement, his insider trading activity showed noteworthy fluctuations, including selling stock worth over $2 million in September 2022, right before his retirement announcement. Bower’s leadership style highlighted the importance of growth metrics and operational efficiency, all while ensuring the company adapted to market changes with a clear focus on profitability and sustainability.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other CNB Financial CEOs

C

Joseph B. Bower, Jr.

Ex-CEO of CNB Financial

Education

Bachelor of Science degree in Accounting from The Pennsylvania State University

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1966 - 59 years ago

CEO of CNB Financial for

12 years 11 months (Jan 2010 - Dec 2022)

Previous Experience

Senior Vice President and Chief Operating Officer of the Bank

Rivals

Competitors/colleagues of Joseph B. Bower, Jr.

F

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

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

O

Drake Mills

CEO of Origin Bancorp

2023 Compensation

Stock

$360.50K

Salary

$835.80K

Bonus

$408.16K

Other

$60.65K

Total Holdings

$11.77M

I

Gavin A. Mohr

CEO of Independent Bank Corporation

2023 Compensation

Stock

$65.89K

Salary

$302.00K

Bonus

$70.15K

Other

$45.98K

Total Holdings

$639.88K

U

Jeffrey M. Schweitzer

CEO of Univest Financial Corporation

2022 Compensation

Stock

$0.00

Salary

$806.00K

Bonus

$250.57K

Other

$26.25K

Total Holdings

$2.56M

Holdings

See how much did Joseph B. Bower, Jr. make over time.

Joseph B. Bower, Jr. had a notable track record with his stock holdings at CNB Financial. His insider trading activity showed significant fluctuations, particularly in late 2022 when he sold shares totaling over $2 million shortly before his retirement. Between...

Joseph B. Bower, Jr. had a notable track record with his stock holdings at CNB Financial. His insider trading activity showed significant fluctuations, particularly in late 2022 when he sold shares totaling over $2 million shortly before his retirement. Between 2020 and 2022, Bower consistently traded shares, with transactions ranging from $110K to peaks of over $2 million. The most substantial activity occurred in November and December 2022, when his sales were between $1.66 million and $2.17 million, reflecting a strategic exit as he transitioned away from his leadership role. At the time of his retirement, his proactive trading indicated an awareness of the market dynamics and his personal financial planning. These trades present a clear pattern in Bower's strategy, focusing on both personal wealth management and responding to corporate performance conditions.

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Charitable Transactions

CCNE

125 shares

CCNE

Recent Charitable Transactions

CCNE

25 shares

CCNE

Dec 12, 2011

Charity

CCNE

100 shares

CCNE

Dec 21, 2010

Charity

Insider Trading

See recent insider trades of Joseph B. Bower, Jr..

CCNE

$168.91K

CCNE at $26.71/share

Feb 15, 2022

Received

CCNE

$261.01K

CCNE at $26.71/share

Feb 1, 2022

Received

CCNE

$118.61K

CCNE at $21.03/share

Feb 24, 2021

Received

CCNE

$136.19K

CCNE at $21.03/share

Feb 11, 2021

Received

CCNE

$28.26K

CCNE at $14.13/share

May 15, 2020

Purchase

CCNE

$14.10K

CCNE at $20.14/share

Mar 10, 2020

Purchase

Compensation History

See how much did Joseph B. Bower, Jr. make over time.

Throughout his tenure, Joseph B. Bower, Jr.’s compensation reflected his leadership performance at CNB Financial. His total pay peaked notably in 2022, reaching approximately $2.3 million. This included a salary of $678,000, an annual bonus based on performance metrics, and the value of vested stock upon his retirement. Bower’s approach to compensation was closely tied to company performance indicators like earnings per share and loan growth, illustrating a commitment to aligning executive pay with company success. This philosophy is outlined in CNB's compensation strategy, aimed at motivating key executives to exceed corporate goals. However, his previous years also showed considerable earnings, from about $645,000 in 2015 to $1 million in 2021, illustrating a gradual increase consistent with the bank’s growth and profitability over the years.

Year

2022

Total Compensation

$1.53M

Salary

$678.00K

Board Justification

The compensation philosophy aims to attract, retain, and motivate key executives while aligning their interests with those of shareholders through performance-based pay.

Bonus

$325.24K

Board Justification

Annual cash incentive payments made under the Corporation’s Non-Equity Incentive Plan based on performance metrics including fully-diluted EPS, commercial loan revenues, and efficiency ratio.

Other

$265.62K

Board Justification

Includes severance payment, health insurance benefits, and other compensations upon retirement.

Restricted Stock

$261.01K(9.77K Restricted Stock)

Board Justification

Time-based restricted stock awards that vested upon retirement on December 31, 2022, totaling 9,772 shares.

Performance Metrics

Key performance metrics included fully-diluted EPS, commercial loan revenues, efficiency ratio, and wealth management fees.

Other CNB Financial CEOs

Here are other CEOs of CNB Financial

Michael Peduzzi

CEO of CNB Financial

December 2022 - Present