Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Lake Sunapee Bank Group | d134957d8k.htm |
| EX-10.1 - EX-10.1 - Lake Sunapee Bank Group | d134957dex101.htm |
Exhibit 10.2
Lake Sunapee Bank Group
Named Executive Officer Incentive Plan
2016 Goals
| Goal |
Weight | 12/31/2015 | Threshold | Target | Superior | |||||
| 1) Net Income |
40% | $9,029,000 | $9,200,000 to $9,500,000 |
$9,500,001 to $10,000,000 |
$10,000,001+ | |||||
| Factor Available: | 1.000% | 2.000% | 4.000% | |||||||
| 2) Gross Loan Growth |
20% | $1,222,108,000 | +$30 million ($1,252,000,000+) |
+$40 million ($1,262,000,000+) |
+$60 million ($1,322,000,000+) | |||||
| Factor Available: | 0.50% | 1.00% | 2.00% | |||||||
| 3) Asset Quality |
15% | 0.49% | NPL/Loans < 1% | NPL/Loans < .50% | NPL/Loans < .35% | |||||
| Factor Available: | 0.38% | 0.75% | 1.50% | |||||||
| 4) Deposit Growth |
15% | $1,157,352,000 | Increase of less than 4% | +4% Growth (>$1,203,645,000) |
+5% Growth (>$1,215,220,000) | |||||
| Factor Available: | 0.38% | 0.75% | 1.50% | |||||||
| 5) Individual Goals |
10% | Factor Available: | 0.25% | 0.500% | 1.000% | |||||
| Totals |
100% | Total Factor Available: | Maximum Threshold
2.50% |
Maximum Target
5.00% |
Maximum Superior
10.00% | |||||
| * | In order to activate the plan, the Threshold levels for Goals #1 and #5 must be obtained, and acceptable regulatory ratings maintained. |
| 1) | Net income: Consolidated Net Income, as reported in SEC Filings, including impact of incentive expense and all discretionary bonuses. |
| 2) | Gross Loan Growth: Growth of gross loans held in portfolio, as disclosed in SEC Filings, at 12/31/16 compared to gross loans held in portfolio at 12/31/15, as disclosed in SEC Filings. |
| 3) | Asset Quality is calculated by dividing the amount of Non-Performing Loans (NPL) to total loans at 12/31/16. |
| 4) | Deposit growth: Percent of growth comparing deposits, as disclosed in SEC Filings, at 12/31/16 compared deposits at 12/31/15, as disclosed in SEC Filings. |
| 5) | Three individual goals per Executive, with satisfactory completion (as determined by Executive’s respective reporting authority) of 1 of 3 necessary for Threshold; 2 of 3 for Target; and 3 of 3 for Superior. |