Effective April 1, 2008, the board of directors increased the number of directors from five to seven and elected Messrs. Charles M. Baughn and Paul B. Murphy Jr.
to fill these new positions.
Generally, directors are elected annually by our shareholders,
Paul B. Murphy Jr.
Mr. Murphy, an independent director since April 2008, currently serves as Chief Executive Officer of Amegy Bank of Texas (formerly known as Southwest Bank of Texas).
Mr. Murphy began his banking career at Allied Bank of Texas in 1981 and joined Amegy Bank in 1990 as an Executive Vice President.
With little more than $50 million in assets and one location 17 years ago, Amegy Bank
now has more than $11 billion in assets, nearly 1,900 employees, and more than 85 banking centers throughout the greater Houston, Dallas and San Antonio metropolitan areas.
Mr. Murphy became President in 1996 and CEO in 2000.
He serves on the boards of the Houston Endowment, St. Luke’s Episcopal Health Care System, Greater Houston Community Foundation, Greater Houston Partnership and Children’s Museum of Houston.
He received his bachelor degree in finance from Mississippi State University and his M.B.A. from the University of Texas at Austin.
All of the members of this committee attended each meeting with the exception of Mr. Murphy who attended three out of the four meetings.
All members of the committee attended each meeting with the exception of Mr. Murphy who attended two out of the three meetings.
All members of the committee attended each meeting with the exception of Mr. Murphy who attended seven out of the eight meetings.
During 2008, our Compensation Committee consisted of Messrs. Davis, Levy, Hassard and Murphy
, our four independent directors.