2017 COMMERCIAL LENDER SALARY SURVEY RESULTS

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Kristopher Pitts
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2017 COMMERCIAL LENDER SALARY SURVEY RESULTS Smith & Wilkinson is excited to present the results from our ninth annual Commercial Lender salary survey.

1 2017 COMMERCIAL LENDER SALARY SURVEY RESULTS Smith & Wilkinson is excited to present the results from our ninth annual Commercial Lender salary survey. The results below are collected from all survey respondents; any responses specific to Individual Contributors or Team Leaders will be labeled as such. 898 Total Respondents 534 Individual Contributors 363 Team Leaders

2 Demographics 3.91% 11.96% 18.88% 9.83% Regional Breakout 32.74% 7.37% 15.31% Northern New England (ME, NH, VT) Southern New England (MA, CT, RI) North Atlantic (NY, NJ, PA) Mid Atlantic (DE, DC, MD, VA) Southeast Midwest Other Type of Financial Institution Worked For 20.74% 6.35% 18.39% 54.52% Credit Union Publicly Traded Privately Owned/Closely Held Mutual/Cooperative

3 Have you been formally credit trained? 68.67% 31.33% Yes No Where were you credit trained? 3.43% 9.95% 11.58% 75.04% Banking Association Current Employer Prior Employer Other

4 Average Salary & based on Formal Credit Training Salary Credit Trained $139, Not Credit Trained $128, $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 Credit Trained $35, Not Credit Trained $30, $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000

5 Average Salary & by Education Level Salary High School $111, Some College or Associates Degree $123, Bachelor's Degree $132, MBA or other advanced degree $145, $40,000 $80,000 $120,000 $160,000 High School $21, Some College or Associates Degree $25, Bachelor's Degree $31, MBA or other advanced degree $38, $10,000 $20,000 $30,000 $40,000

6 "The results from this year s salary surveys very much mirror what we are hearing in the market every day: as demand for credit trained Commercial Lenders and Commercial Credit Analysts outstrips supply, banks and credit unions are continuing to pay a hefty premium for talent with formal credit training. Not surprisingly, organizations are also compensating most heavily for tenure, as reflected in overall compensation based on years of experience. We anticipate this trend to continue into the foreseeable future, or until such time that more widespread training programs reemerge." Cameron Boyd, Practice Director, Financial Services

7 Salary & es Results from Individual Contributors Salary Average Salary and by Region Northern NE (ME/NH/VT) $118, Southern NE (MA/CT/RI) $138, North Atlantic (NY/NJ/PA) $128, Mid Atlantic (DE/DC/MD/VA) $126, Midwest (MO/IN/IL/OH) $113, The Carolinas/Southeast $118, $40,000 $80,000 $120,000 Northern NE (ME/NH/VT) $20, Southern NE (MA/CT/RI) $32, North Atlantic (NY/NJ/PA) $32, Mid Atlantic (DE/DC/MD/VA) $26, Midwest (MO/IN/IL/OH) $23, The Carolinas/Southeast $25, $10,000 $20,000 $30,000

8 Salary Average Salary & by Years of Experience 0-2 $92, $106, $115, $120, $134, $134, $145, $40,000 $80,000 $120,000 $160, $14, $18, $26, $27, $32, $27, $34, $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000

9 Average Salary & by Institution Salary Credit Union $107, Mutual/Cooperative $121, Privately Owned/Closely Held $120, Publicly Traded $129, $40,000 $80,000 $120,000 Credit Union $19, Mutual/Cooperative $21, Privately Owned/Closely Held $20, Publicly Traded $32, $10,000 $20,000 $30,000

10 Average Salary & by Institutional Asset Size Salary < $200MM $102, $200-$500MM $116, $501MM-$1B $117, $1.1-$5B $125, $5.1-$25B $128, $ $100B $132, > $100.1B $140, $40,000 $80,000 $120,000 $160,000 < $200MM $14, $200-$500MM $16, $501MM-$1B $18, $1.1-$5B $23, $5.1-$25B $32, $ $100B $29, > $100.1B $44, $10,000 $20,000 $30,000 $40,000

11 Salary Average Salary & by Lending Type Asset Based $136, C&I $134, CRE $118, Other/Specialty $133, SBA/Government $110, $40,000 $80,000 $120,000 Asset Based $23, C&I $31, CRE $24, Other/Specialty $34, SBA/Government $35, $10,000 $20,000 $30,000 $40,000

12 Salary Average Salary & by Production $0, I manage a PORTFOLIO but do not develop business $110, <$10MM $106, $10-$20MM $123, $21-$30MM $138, $31-$40MM $145, $41-$50MM $137, $51-100MM $148, >$100MM $159, $40,000 $80,000 $120,000 $160,000 $0, I manage a PORTFOLIO but do not develop business $16, <$10MM $15, $10-$20MM $22, $21-$30MM $31, $31-$40MM $40, $41-$50MM $39, $51-100MM $52, >$100MM $76, $20,000 $40,000 $60,000 $80,000

13 Average Salary & by Education Level Salary High School $79, Some College or Associates Degree $110, Bachelor's Degree $123, MBA or other advanced degree $133, $40,000 $80,000 $120,000 High School $9, Some College or Associates Degree $23, Bachelor's Degree $25, MBA or other advanced degree $32, $10,000 $20,000 $30,000

14 Average Salary & by Credit Training Salary Not Credit Trained $119, Credit Trained $129, $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Not Credit Trained $24, Credit Trained $29, $5,000 $10,000 $15,000 $20,000 $25,000 $30,000

15 Salary & es Results from Team Leaders Salary Average Salary and by Region Northern NE (ME/NH/VT) $154, Southern NE (MA/CT/RI) $176, North Atlantic (NY/NJ/PA) $167, Mid Atlantic (DE/DC/MD/VA) $173, Midwest (MO/IN/IL/OH) $150, The Carolinas/Southeast $159, $40,000 $80,000 $120,000 $160,000 Northern NE (ME/NH/VT) $46, Southern NE (MA/CT/RI) $56, North Atlantic (NY/NJ/PA) $56, Mid Atlantic (DE/DC/MD/VA) $47, Midwest (MO/IN/IL/OH) $37, The Carolinas/Southeast $40, $10,000 $20,000 $30,000 $40,000 $50,000 $60,000

16 Salary Average Salary & by Years of Experience 3-5 $100, $136, $149, $156, $174, $178, $40,000 $80,000 $120,000 $160, $23, $34, $38, $43, $48, $53, $10,000 $20,000 $30,000 $40,000 $50,000

17 Average Salary & by Institution Salary Credit Union $135, Mutual/Cooperative $162, Privately Owned/Closely Held $154, Publicly Traded $174, $40,000 $80,000 $120,000 $160,000 Credit Union $19, Mutual/Cooperative $38, Privately Owned/Closely Held $38, Publicly Traded $56, $10,000 $20,000 $30,000 $40,000 $50,000 $60,000

18 Average Salary & by Institutional Asset Size Salary < $200MM $120, $200-$500MM $146, $501MM-$1B $152, $1.1-$5B $168, $5.1-$25B $180, $ $100B $182, > $100.1B $172, $40,000 $80,000 $120,000 $160,000 $200,000 < $200MM $22, $200-$500MM $25, $501MM-$1B $29, $1.1-$5B $39, $5.1-$25B $64, $ $100B $63, > $100.1B $73, $20,000 $40,000 $60,000 $80,000

19 Salary Average Salary & by Lending Type Asset Based $161, C&I $171, CRE $162, Other/Specialty $159, SBA/Government $118, $40,000 $80,000 $120,000 $160,000 Asset Based $48, C&I $54, CRE $38, Other/Specialty $58, SBA/Government $31, $10,000 $20,000 $30,000 $40,000 $50,000 $60,000

20 Average Salary & by Production Salary <$10MM $122, $10-$20MM $150, $21-$30MM $164, $31-$40MM $163, $41-$50MM $169, $51-100MM $183, >$100MM $192, $40,000 $80,000 $120,000 $160,000 $200,000 <$10MM $16, $10-$20MM $28, $21-$30MM $34, $31-$40MM $46, $41-$50MM $52, $51-100MM $54, >$100MM $77, $20,000 $40,000 $60,000 $80,000

21 Average Salary & by Education Level Salary High School $140, Some College or Associates Degree $166, Bachelor's Degree $160, MBA or other advanced degree $169, $40,000 $80,000 $120,000 $160,000 High School $55, Some College or Associates Degree $46, Bachelor's Degree $43, MBA or other advanced degree $49, $10,000 $20,000 $30,000 $40,000 $50,000 $60,000

22 Average Salary & by Credit Training Salary Not Credit Trained $157, Credit Trained $166, $40,000 $80,000 $120,000 $160,000 Not Credit Trained $40, Credit Trained $48, $10,000 $20,000 $30,000 $40,000 $50,000

23 Did you receive a salary increase in 2017? Individual Contributors 11.00% 89.00% Yes No Team Leaders 15.00% 85.00% Yes No

24 Did you receive a cash bonus in 2017? Individual Contributors 13.00% 87.00% Yes No Team Leaders 10.00% 90.00% Yes No

25 What is your cash bonus based on? Individual Contributor 41.84% 63.79% 51.78% 41.65% New Loans New Depo BK Perf Discret Team Leader 29.46% 38.84% 42.4% 26.83% New Loans New Depo BK Perf Discret

26 Career Planning What is most important to you about where you work? Individual Contributors 17.07% 24.02% 13.88% 12.57% 32.65% Compensation Coworkers/Team Job Security Location Opportunity for Professional Advancement Team Leaders 19.67% 18.56% 9.14% 9.14% 44.04% Compensation Coworkers/Team Job Security Location Opportunity for Professional Advancement

27 About Smith & Wilkinson Founded in 1998, Smith & Wilkinson is a best-of-breed boutique search firm focused on middle and senior management search for a diverse range of industries. With twenty years of commitment, performance, and success, S&W has developed a reputation for bringing together our highly reputable client base with the most exceptional professionals in the market. We are known as experienced and discreet intermediaries, and we will provide feedback to each client on the market perception of their organization, on compensation levels for their market(s), and any other issues that may affect their ability to land the best candidate for their opening. S&W's Financial Services Practice serves community and regional banks and credit unions nationally, and is the largest community bankingspecific search practice in the region. We are active members and participants in numbers state banking associations, and are also one of the few approved executive search firms affiliated with the American Bankers Association. Our thorough process for search and recruitment starts with an understanding of your needs, goals, and business culture. Our aim is to find the right person for your organization, not simply to fill the position. Smith & Wilkinson handles everything, including reference and background checking, saving you valuable time and resources. Our practice specialties include: Banking; Credit Unions; Nonprofits & Associations; Insurance; Wealth Management; Finance & Accounting; Human Resources; Information Technology; Healthcare Management; Physicians; Retail Smith & Wilkinson's past salary survey results S&W's current search engagements Contact Us

April Conducted by

April Conducted by Conducted by Methodology: An email survey was sent to subscribers of Design News (both print and e newsletters) during the month of May, 2009. Results of the study were tabulated by Research Results, an