WV
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55-0628089
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
On December 14, 2011, the Committee authorized a 3% increase to the base salaries paid in 2011 for Mr. Frank W. Wilkinson, President and Chief Executive Officer of the Company, and of the Company's subsidiary, First Century Bank ( the "Bank"), Mr. J. Ronald Hypes, Treasurer of the Company and Senior Vice President and Chief Financial Officer of the Bank and Mr. John P. Beckett, Senior Vice President and Executive Trust Officer of the Bank. These individuals are expected to be the named executive officers of the Company reported in the 2012 proxy statement. The base salaries for these executive officers were based on:
* the Committee's evaluation of each officer's individual job performance;
After a discussion of the above considerations, the Committee determined that the base salaries of Mr. Frank W. Wilkinson, Mr. J. Ronald Hypes and Mr. John P. Beckett for 2012 be set as follows:
* Mr. Frank W. Wilkinson - $185,400
FIRST CENTURY BANKSHARES, INC.
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Date: December 19, 2011
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By:
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/s/ J. Ronald Hypes
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J. Ronald Hypes
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Treasurer (Principal Accounting and Financial Officer)
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