The president and CEO of Five Star Bank's parent company saw his total compensation increase 14 percent last year, to $1.2 million.
Martin K. Birmingham's total compensation was 23 times that of the median total compensation of the rest of Financial Institutions' employees, which was $51,170, according to a regulatory filing. Median indicates half of the Warsaw-based bank's other 650 employees had more than that total compensation, and half had less.
Birmingham's salary increased 5.4 percent to $530,000. His total compensation was also bolstered by factors including a change in pension value and incentive compensation.
Financial Institutions reported first-quarter profits of $9.3 million, up 17 percent from a year ago. The bank will hold its annual meeting on June 20 at its headquarters.