Umpqua Bank CEO Ray Davis got a big raise in 2010, according to a proxy statement filed Friday with the U.S. Securities and Exchange Commission.
The bank valued Davis' compensation at $3.7 million in 2010, up from $2.3 million in 2009 and $3.2 million in 2008.
Davis' 2010 compensation included $873,333 in base salary, up from $714,000 each of the previous two years.
For the first time since 2008, Davis received a bonus in 2010. He received a cash bonus of $191,700 and non-equity incentive plan compensation of $529,750. He received a mix of stock options and awards valued at $898,0101.
Read more: Umpqua CEO Davis gets big raise | Portland Business Journal
This kind of stuff really raises the blood pressure systolic readings!
Posted by: BOB KARM | February 26, 2011 at 11:13 AM
I bank at Umpqua for several reasons, not the least of which was that they tore down a Wells Fargo to build their store in my neighborhood.
Posted by: Don from Salem | February 26, 2011 at 11:22 AM
They also have free cookies on Friday.
Posted by: Don from Salem | February 26, 2011 at 11:23 AM
Two words:
Credit Union.
Posted by: stevedeshazer | February 26, 2011 at 11:42 AM
Well, the simple fact is that 3.7 million ain't what it used to be. I'm sure every penny was earned and deserved...don't think so? Look at what people in similar positions at big banks...like say US...are making.
Posted by: JoelinPDX | February 26, 2011 at 12:04 PM
And meanwhile all the teachers, police, and firemen should be taking paycuts because they earn way too much.
Posted by: TN | February 26, 2011 at 12:39 PM
This is why I show people how to be their own bank. It's not that difficult.
Posted by: Dan | February 26, 2011 at 01:46 PM
Yeah, a lot of teachers should be making less...in fact a lot of teachers shouldn't even have the job. It's a well known fact that education degrees are some of the easiest to get. When my ex-wife got her Master's Degree they told her to take an education minor because it was so simple. Nice huh? Simple degrees to educate our kids.
As for cops and firemen, you couldn't pay me enough to put my life on the line like they do. They should be paid more.
Posted by: JoelinPDX | February 26, 2011 at 04:31 PM
Fireman maybe. I haven't met a cop worth a damn in 20 years. How does this relate to bankers?
Posted by: E | February 26, 2011 at 11:34 PM
Fireman maybe. I haven't met a cop worth a damn in 20 years. How does this relate to bankers?
Posted by: Ed | February 26, 2011 at 11:34 PM
It would be class warfare of me to suggest that Umpqua Bank CEO Ray Davis should be taxed on every cent he "earns" , just like I am.
It would be class warfare of me to suggest that his heirs be taxed eventually when they "earn" their inheritance.
Class warfare is what its called when the poor finally start to fight back.
Posted by: SatansFlamingHairplugs | February 27, 2011 at 09:39 AM
"Class Warfare"?
What a steaming, brown, shovelful!
I seem to recall someplace the advice that one should not concern themselves with anything that is the property of their neighbor.
Such is the fatal flaw with Collectivist thinking: the self-righteous presumption upon the assets of another who may have more than they do without having provided ANYTHING (product or service)which justifies said claim.
The cry of "class warfare" is the infantile bleating and whining from someone who's only advancements can only be made with the limitation or tearing down of another.
Posted by: God'sLeave-inHairconditioner | February 27, 2011 at 10:55 AM
I should steal mine fair and square....like Umpqua bank CEO , Ray Davis did.
Posted by: SatansFlamingHairplugs | February 27, 2011 at 03:05 PM
How many of the underlings got fat raises?
Posted by: Russ | February 27, 2011 at 09:49 PM