Jamie Dimon, CEO of the largest bank in the U.S., JPMorgan Chase & Co., remained the highest-paid CEO in the U.S. bank industry in 2018. Dimon's pay increased to $30.0 million last year, a 6.1% increase from 2017.
But the CEO of San Diego-based Axos Financial Inc., a bank with $9.81 billion in assets at year-end 2018, was paid almost as much. Gregory Garrabrants jumped up the ranks to claim the second spot, taking home $27.0 million in total compensation for the year. Garrabrants' compensation included $24.7 million in stock awards.
Axos Financial's assets were equal to 0.37% of JPMorgan's year-end 2018 assets of $2.622 trillion.
William Demchak of PNC Financial Services Group Inc. made $15.1 million in 2018, the seventh-largest compensation package in the industry and the largest for any bank between $50 billion and $500 billion in assets.
Troy, Mich.-based Flagstar Bancorp Inc.'s Alessandro DiNello led banks between $10 billion and $50 billion with $16.4 million in compensation, thanks largely to $14.2 million in stock awards. He was the sixth-highest paid CEO overall.
Bethesda, Md.-based Eagle Bancorp Inc.'s CEO, Ronald Paul, was the second-highest-paid CEO for banks between $1 billion and $10 billion in assets, after Axos Financial's Garrabrants. Paul held the No. 2 spot even as his total compensation declined 3.1% year over year to $6.0 million.
Oklahoma City-based Bank7 Corp.'s CEO, Thomas Travis, saw his pay skyrocket 405.7% to $2.5 million to make him the highest-paid CEO among banks and thrifts with less than $1 billion in assets. Bank7 completed an initial public offering in September 2018.