First Mid board member up for approval
MATTOON — First Mid-Illinois Bancshares shareholders will be asked to approve a new director at their annual meeting April 25.
Holly A. Bailey, daughter of current board member Charles A. Adams, has been nominated to succeed Sara Jane Preston on the eight-member board.
Bailey, 41, is president of Howell Asphalt Co. of Mattoon and executive vice president of Howell Paving of Mattoon, while Adams, 70, is president of Howell Paving. Preston, 71, has been a director of First Mid-Illinois Bancshares since 2000. She is the retired president and chief executive officer of Charleston National Bank.
Nominated for re-election to the company's board this year are Joseph R. Dively, who was named president of First Mid-Illinois Bank & Trust in May 2011, and William S. Rowland, chairman, president and chief executive officer of First Mid-Illinois Bancshares.
Last week, the company issued a proxy statement listing 2011 compensation for its top executive officers. According to that statement, Rowland received total compensation of $613,987, of which $328,070 was salary. The remainder consisted of stock awards, incentive plan compensation, the increase in the value of his pension benefit and contributions to his 401(k) plan.
Rowland's compensation was up sharply from 2010, when he received total compensation of $461,391, of which $309,039 was salary.
Mattoon-based First Mid-Illinois Bancshares is the holding company for First Mid-Illinois Bank & Trust, which has $1.5 billion in assets and 38 banking offices in Illinois.
Area offices are in Champaign, Urbana, Mahomet, Monticello, Mansfield, Weldon, Tuscola, Arcola, Mattoon, Charleston and Sullivan.