Jeffrey C. Skumin
About Jeffrey C. Skumin
Executive Vice President, Finance at Embassy Bancorp, Inc. (EMYB), overseeing the finance department; joined Embassy in March 2020 after roles at a large regional bank and in public accounting focused on bank audits; graduate of Muhlenberg College; age 48 in 2025 . He is part of EMYB’s Leadership Team and a “restricted person” under the company’s Insider Trading Policy . Company-level pay-versus-performance shows Total Shareholder Return and net income trends relevant to his tenure and finance remit .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Large regional bank | Finance role (unspecified) | Pre-2020 | Prepares for bank finance leadership through operating experience . |
| Public accounting firm | Auditor (bank audits) | Pre-2020 | Technical rigor, controls orientation and bank audit domain expertise . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Various organizations | Volunteer/participant | N/A | Community engagement; signals local market connectivity . |
Fixed Compensation
- Not disclosed for Skumin in EMYB’s proxies; Named Executive Officers disclosed are Lobach (CEO), Hunsicker (FEO/CFO/COO), Cunningham (SEVP), and Neel (SEVP) with detailed tables, but Skumin is not an NEO in 2023–2025 filings .
- Company-wide compensation philosophy emphasizes salary-heavy pay, discretionary cash/equity bonuses (not linked to preset annual metrics), and benchmarking efficiency ratio and “employee productivity” ratios versus peers .
Performance Compensation
- Company’s incentive design for executives is discretionary and not formulaic to pre-set metrics; Board weighs efficiency ratio, assets/loans/deposits/net income per employee, and long-term performance; no Skumin-specific metric weightings, targets, or payouts are disclosed .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Skumin | — | — | — | — | — |
Equity Ownership & Alignment
| Item | Value | Notes |
|---|---|---|
| Total beneficial ownership (direct) | 1,748 common shares | Reported on Form 3 at appointment as reporting officer (EVP, Finance) on 12/13/2024 . |
| Ownership as % of shares outstanding | ≈0.02% | 7,646,114 shares outstanding as of Nov 7, 2025 . |
| Vested vs unvested shares | Not disclosed | No RSU/PSU detail for Skumin in proxies; not an NEO . |
| Options (exercisable/unexercisable) | None disclosed | Form 3 shows no derivative securities; Table II blank . |
| Shares pledged as collateral | None disclosed | No pledge indicated in Skumin’s Form 3; pledge disclosures appear for certain directors, not Skumin . |
| Stock ownership guidelines | Not disclosed | No explicit ownership guideline disclosure for officers in proxies –. |
| Hedging/derivatives policy | Prohibited | Insider Trading Policy bans short sales and derivatives transactions by employees and directors . |
| Rule 10b5‑1 trading plan | None noted | Q1 2025 filing reported no adoption by executive officers; Q3 2025 disclosed CFO’s plan, not Skumin . |
Employment Terms
- Employment agreements and change-of-control terms are disclosed for Lobach and Hunsicker (500% of salary+bonus lump sum and 5 years of benefits; with excise tax gross-ups), and SERPs for Hunsicker, Cunningham, and Neel; no employment agreement or SERP is disclosed for Skumin –.
- Insider Trading Policy identifies Skumin as a restricted person subject to trading windows and preclearance; company code of conduct and whistleblower policy in place .
- Anti-hedging provision prohibits derivatives/short-selling for all employees and directors .
Company Performance Context (during Skumin’s tenure)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Total Shareholder Return – $100 initial investment | $140 | $132 | $108 | $123 |
| Net Income ($ thousands) | $16,786 | $17,702 | $12,656 | $10,440 |
Notes: Company commentary attributes ROA pressure to rapid deposit growth in a zero-rate environment followed by a 525 bps Fed Funds increase, duration effects in fixed-rate loans and AFS securities, and elevated funding costs; management highlights improving NIM as rates peak and liability sensitivity positioning –.
Governance and Related Party Backdrop
- Insider-related real estate leasing arrangements (Red Bird Associates LLC) are overseen by disinterested directors; rents and commitments disclosed; Board independence is maintained for voting members except noted insiders; Board asserts fair terms and strategic flexibility – .
- Anti-hedging policy, code of conduct, and whistleblower framework disclosed; Audit Committee active; no Audit Committee Financial Expert designation .
Investment Implications
- Alignment: Skumin’s disclosed direct ownership is modest (~0.02%), with no options or RSUs disclosed; lack of pledging is positive, but limited “skin-in-the-game” may reduce alignment signal versus NEOs and directors who collectively hold ~29% of shares .
- Selling pressure: No 10b5‑1 plan or vesting schedules reported for Skumin; insider selling pressure appears limited; CFO’s plan was solely for tax withholding on RSU vesting, not broad discretionary selling .
- Pay-for-performance linkage: Company uses discretionary incentives not tied to preset metrics, prioritizing efficiency ratios and per-employee productivity; this weakens formulaic predictability of variable pay versus TSR/ROA outcomes, tempering compensation-based trading signals for non-NEOs like Skumin .
- Contract economics: Change-of-control economics and excise tax gross-ups exist for top NEOs; absence of a disclosed agreement or SERP for Skumin implies lower visible parachute exposure for him but limits clarity on retention protections and severance triggers .
- Execution risk: Finance function credibility is supported by Skumin’s audit background and tenure through the rate shock; company disclosures indicate continued focus on NIM recovery and balance sheet optimization, which are central to finance leadership execution quality –.