JAMES G. RAKES - Corporate Board Profile

NATIONAL BANKSHARES INC

Filing Date	Source Excerpt
2001-03-19	James G. Rakes (56) President and CEO of Bankshares and NBB Chairman of the Board of Bankshares NBB and BTC Board Member Blacksburg, VA The following table sets forth information concerning total compensation earned or paid to the only executive officers of the Company who received total annual salary and bonus in excess of $100,000. These executive officers were James G. Rakes, Chairman, President and Chief Executive Officer of the Company and President and Chief Executive Officer of NBB and F. Brad Denardo, Corporate Officer of the Company and Executive Vice President/Loans of NBB. SUMMARY COMPENSATION TABLE James G. Rakes 2000 217,900 80,000 6,500 8,560 Chairman, President and CEO of Bankshares 1999 204,400 89,650 2,500 19,700 of Bankshares 1998 194,200 87,750 --- 22,500 President and CEO of NBB
2002-03-14	James G. Rakes (57) President and CEO of Bankshares and NBB President and Treasurer of National Bankshares Financial Services, Inc. Chairman of the Board of Bankshares NBB and BTC Board Member Summary Compensation Table James G. Rakes 2001 231,050 107,650 7,500 18,640 Chairman, President and CEO of Bankshares
2003-03-13	James G. Rakes (58) President and CEO of Bankshares and NBB President and Treasurer of National Bankshares Financial Services, Inc. Chairman of the Board of Bankshares NBB, and BTC and NBFS Board Member Executive Compensation Summary Table James G. Rakes 2002 251,100 120,500 7,500 9,960 Chairman, President and CEO of Bankshares (1) Includes amounts received by Mr. Rakes as directors' fees from Bankshares, NBB and BTC (2) Discretionary bonuses were paid to Mr. Rakes for performance in 2000, 2001, and 2002 (4) For 2002, includes only matching contributions to the Retirement Accumulation Plan Total annual compensation: 251,100 + 120,500 + 9,960 = 381,560
2004-03-15	James G. Rakes (59) President and CEO of Bankshares and NBB President and Treasurer of NBFS Chairman of the Board of Bankshares NBB, BTC and NBFS Board Member Blacksburg, VA. Mr. Rakes is the chairman of the Executive Committee. Executive Compensation Summary Table shows total annual compensation for 2003 as $275,450 salary + $147,500 bonus + $10,000 other = $432,950.
2005-03-11	James G. Rakes (60) President and CEO of Bankshares and NBB 1986 President and Treasurer of NBFS Chairman of the Board of Bankshares NBB, BTC and NBFS Board Member Blacksburg, VA The Bankshares Board has standing executive, audit, compensation and nominating committees. Mr. Rakes is the chairman of the Executive Committee, Members of the Board of Directors of Bankshares are paid a $500 fee for each regular or special Board meeting they attend. They are paid a $400 committee attendance fee. Directors are also paid annual Board retainer fees in an amount equal to the highest Board annual retainer fee paid by any subsidiary of National Bankshares, Inc. The NBI Board annual retainer fee is offset by the amount of annual retainer fees received by each director for his or her service on the Board of Directors of any of the Company's subsidiaries. The annual retainer fees paid by Bankshares to its directors in 2004 were as follows: Mr. Deskins - $2,500, Mr. Duncan - $6,500, Dr. Lewis - $6,500, Dr. Miller - $6,500, and Mr. W. T. Peery - $2,500. Mr. Bowman, Mr. Rakes, Dr. Shuler and Dr. Stewart, Bankshares directors who are also directors of NBB, receive an annual retainer fee of $6,500 for their service on the NBB Board. They receive an NBB Board meeting attendance fee of $500 and they are paid $250 for each committee meeting they attend. In 2004 two NBB directors, Mr. Bowman and Mr. Duncan, received payments from an NBB Board of Directors deferred compensation plan in which they participated from 1985 to 1989. Mr. Bowman was paid $5,822 and Mr. Duncan received $5,231 during 2004. Mr. Deskins, Mr. W. T. Peery and Mr. Rakes, directors of Bankshares who were also members of the Board of Directors of BTC in 2004, are paid an annual retainer of $4,000, a holiday bonus of $400 and they receive a fee of $400 per meeting for their attendance at regular and special BTC Board meetings and committee meetings. Members of the Board of Directors of Bankshares are paid a $500 fee for each regular or special Board meeting they attend. They are paid a $400 committee attendance fee. Directors are also paid annual Board retainer fees in an amount equal to the highest Board annual retainer fee paid by any subsidiary of National Bankshares, Inc. The NBI Board annual retainer fee is offset by the amount of annual retainer fees received by each director for his or her service on the Board of Directors of any of the Company's subsidiaries. The annual retainer fees paid by Bankshares to its directors in 2004 were as follows: Mr. Deskins - $2,500, Mr. Duncan - $6,500, Dr. Lewis - $6,500, Dr. Miller - $6,500, and Mr. W. T. Peery - $2,500. Mr. Bowman, Mr. Rakes, Dr. Shuler and Dr. Stewart, Bankshares directors who are also directors of NBB, receive an annual retainer fee of $6,500 for their service on the NBB Board. They receive an NBB Board meeting attendance fee of $500 and they are paid $250 for each committee meeting they attend. In 2004 two NBB directors, Mr. Bowman and Mr. Duncan, received payments from an NBB Board of Directors deferred compensation plan in which they participated from 1985 to 1989. Mr. Bowman was paid $5,822 and Mr. Duncan received $5,231 during 2004. Mr. Deskins, Mr. W. T. Peery and Mr. Rakes, directors of Bankshares who were also members of the Board of Directors of BTC in 2004, are paid an annual retainer of $4,000, a holiday bonus of $400 and they receive a fee of $400 per meeting for their attendance at regular and special BTC Board meetings and committee meetings. Executive Compensation Summary Table The following table sets forth information concerning total compensation earned or paid to those executive officers of the Company who received total annual salary and bonus in excess of $100,000. These executive officers were James G. Rakes, Chairman, President and Chief Executive Officer of the Company, President and Chief Executive Officer of NBB and President and Treasurer of NBFS; F. Brad Denardo, Corporate Officer of the Company and Executive Vice President and Chief Operating Officer of NBB; and Marilyn B. Buhyoff, Secretary & Counsel of the Company, Trust Officer and Counsel of NBB and Executive Vice President of NBFS. SUMMARY COMPENSATION TABLE Annual Compensation Long-Term Compensation ------------------- ---------------------- Name and Principal Number of Stock All Other Position Year Salary Bonus Options (Shares) Compensation ($)1. ($)2. Granted3. ($)4. ---------------------------------------------------------------------------------------------------- James G. Rakes 2004 332,650 169,000 7,500 10,800 Chairman, President and CEO 2003 275,450 147,500 7,500 24,400 of Bankshares 2002 251,100 120,500 7,500 22,708 President and CEO of NBB President and Treasurer of National Bankshares Financial Services, Inc.
2006-03-14	James G. Rakes (61) Chairman, President and CEO of Bankshares and NBB Chairman, President and Treasurer of NBFS NBB, BTC and NBFS Board Member Blacksburg, VA Mr. Rakes is the chairman of the Executive Committee.
2007-03-14	James G. Rakes (62) Chairman, President and CEO of Bankshares and NBB Chairman, President and Treasurer of NBFS, NBB and NBFS Board Member Mr. Rakes is the chairman of the Executive Committee. James G. Rakes 958,407
2008-03-12	James G. Rakes 63 1986 Chairman, President and CEO of Bankshares and NBB Mr. Rakes is the chairman of the Executive Committee.
2009-03-16	James G. Rakes (64) 1986 Chairman, President and CEO of Bankshares and NBB Chairman, President and Treasurer of NBFS, NBB and NBFS Board Member Blacksburg, VA... Mr. Rakes is the chairman of the Executive Committee... Directors fees paid to Mr. Rakes are disclosed in the Summary Compensation Table in “Executive Compensation”.
2010-03-12	James G. Rakes (Age 65): Mr. Rakes is an original director of National Bankshares, Inc., having served on the Board since 1986. He has been President and Chief Executive Officer of the Company since its founding. ... Mr. Rakes is the chairman of the Executive Committee. ... In 2009, the members of the NBI Board of Directors received $1,000 for each regular or special Board meeting they attended. They were paid $500 for each committee meeting. Directors were also paid an annual retainer fee of $12,000. The Chairmen of the Audit and Compensation Committees each received an additional $1,500 annual retainer. NBI Directors receive no other forms of compensation. ... Directors Compensation Table shows Mr. Rakes' fees are disclosed in the Summary Compensation Table in Executive Compensation. ... Summary Compensation Table shows total compensation for Mr. Rakes in 2009 was $1,176,644.
2011-03-11	James G. Rakes: Chairman, President and Chief Executive Officer. ... Mr. Rakes is the chairman of the Executive Committee. ... Directors fees paid to Mr. Rakes are disclosed in the Summary Compensation Table in “Executive Compensation”. ... Summary Compensation Table shows total compensation for 2010 as $1,098,883.
2012-03-14	James G. Rakes (Age 67): Mr. Rakes is an original director of National Bankshares, Inc., having served on the Board since 1986. He has been President and Chief Executive Officer of the Company since its founding. ... Mr. Rakes is the chairman of the Executive Committee ... Directors Compensation Table(1) ... Directors fees paid to Mr. Rakes are disclosed in the Summary Compensation Table in “Executive Compensation.” ... Summary Compensation Table ... James G. Rakes ... Total ($) 1,576,974 ...
2013-03-08	James G. Rakes (Age 68): Mr. Rakes is an original director of National Bankshares, Inc.... Mr. Rakes is the chairman of the Executive Committee.... Directors fees paid to Mr. Rakes are disclosed in the Summary Compensation Table in “Executive Compensation.”... Summary Compensation Table shows total compensation $1,358,619 in 2012.
2014-03-12	James G. Rakes (Age 69): Mr. Rakes is an original director of National Bankshares, Inc., having served on the Board since 1986. He has been President and Chief Executive Officer of the Company since its founding. ... Mr. Rakes is the Chairman of the Board of Directors of NBB. ... Mr. Rakes is the chairman of the Executive Committee. ... Directors fees paid to Mr. Rakes are disclosed in the Summary Compensation Table in “Executive Compensation.”
2015-03-27	James G. Rakes (Age 70): Mr. Rakes is an original director of National Bankshares, Inc., having served on the Board since 1986. He has been President and Chief Executive Officer of the Company since its founding. ... The Executive Committee met one time in 2014. Mr. Rakes, Dr. Lewis and Dr. Shuler serve on the Committee. ... Directors Compensation Table notes that directors fees paid to Mr. Rakes are disclosed in the Summary Compensation Table in “Executive Compensation.” ... Summary Compensation Table shows total compensation for Mr. Rakes in 2014 was $1,427,339.
2016-03-30	James G. Rakes (Age 71): Mr. Rakes is an original director of National Bankshares, Inc., having served on the Board since 1986... The Executive Committee met seven times in 2015. Mr. Rakes, Dr. Lewis and Dr. Shuler serve on the Committee. Mr. Rakes serves as Chairman of the Executive Committee... Directors Compensation Table shows James G. Rakes total compensation as $1,061,026.
2017-03-30	James G. Rakes (Age 72): Mr. Rakes is an original director of Bankshares, having served on the Board since 1986. He has been President and Chief Executive Officer of the Company since its founding. Mr. Rakes was the President and Chief Executive Officer of NBB from 1983 until 2014 and currently serves as Executive Chairman. ... The Executive Committee met six times in 2016. Mr. Rakes, Dr. Lewis and Dr. Shuler serve on the Committee. The Committee, which is subject to the supervision and control of the Board of Directors, has been delegated substantially all of the powers of the Board of Directors to act between meetings of the Board, except for certain matters reserved to the Board by law. Mr. Rakes serves as Chairman of the Executive Committee because of his day-to-day management responsibilities. ... The Audit Committee met five times in 2016. From January through May 2016 the Committee was composed of Dr. Lewis (Chair), Mr. Ball, Dr. Dooley, Mr. Green and Mr. Rakes (ex-officio). ... The Risk Committee met two times in 2016. The Committee, formed in 2016, consists of Dr. Miller (Chair), Mr. Green, Mr. Rakes and Mr. Reynolds.
2019-03-29	James G. Rakes (Age 62): Mr. Rakes was elected to the Company's Board of Directors in May 2017 when the Company Board was consolidated with the NBB Board. Mr. Rakes has the longest tenure of any current director of the Company, having served since its incorporation in 1986. Until his retirement in 2017, Mr. Rakes served as Executive Chairman of the Companys primary subsidiary, The National Bank of Blacksburg, where nearly all of the Companys business operations occur. Mr. Rakes spent his long career in banking and has held leadership positions in both state and national banking trade organizations. The Board of Directors determined that Mr. Rakess knowledge of NBB and the banking industry and his Board experience make him the logical and natural choice to serve as Chairman of the Board of the Company. We believe the Board also benefitted from the continuity that Mr. Rakes provided in chairing the Board. Because of the age restrictions in the Companys Bylaws, Mr. Rakes was ineligible for re-nomination to the Board for another three year term (see "Board Tenure"). Mr. Rakes will retire from the Board when his current term expires as of the date of the Annual Meeting.