The president and CEO of CNB Financial, Joseph B. Bower Jr., had total compensation of $1.6 million in 2018, up 24 percent from a year earlier.
CNB is the Pennsylvania-based parent of Bank on Buffalo. Bower received a salary of $572,000 last year, a 10 percent increase from 2017. The rest of his total compensation included restricted stock awards and change in pension value.
Bower's total compensation of $1.6 million was 39 times that of the median of the annual total compensation of all 558 of CNB's employees, according to a regulatory filing. The median indicates that half of the employees had total compensation higher than that amount – $41,648 – and half had less.
Bank on Buffalo has four area branches and recently moved into a renovated regional headquarters in the Electric Tower.