Wednesday, May 22, 2013

Park Sterling board members re-elected

Four Park Sterling Bank board members were re-elected Wednesday at the company's annual meeting in Charlotte.

Leslie Baker, Larry Carroll and Ben Rudisill will serve until 2016, while Kim Price's term is set to expire in 2014, according to a securities filing.

Price and Rudisill became Park Sterling board members following the bank's $77 million purchase in October of Gastonia-based Citizens South Banking Corp. Price retired as Citizens South president and CEO as a result of the acquisition. Rudisill had been a director of Citizens South at the time of the acquisition.

Here's a look at total compensation, according to a securities filing, for the four board members in 2012:

  • Baker: $51,000
  • Carroll: $25,500
  • Price: $837,500
  • Rudisill: $25,923

Park Sterling, Charlotte's largest community bank, has taken off the pause button after a self-imposed moratorium on mergers and acquisitions that was in place while it completed its purchase of Citizens South.