Alejandro M. Sanchez
About Alejandro M. Sanchez
Independent director of Republic Bancorp, Inc. (RBCAA) and Republic Bank & Trust Company since 2024; age 66. President and CEO of Salva Financial Group of Florida (since 2024), Executive Advisor to NASDAQ (contractor), and CEO Emeritus of the Florida Bankers Association (served 1998–2023). Education: JD, University of Iowa College of Law; BS in Business and Social Science, Troy University; United States Air Force service 1976–1981 (honorable discharge). Core credentials include decades of banking association leadership and board roles at financial institutions and public sector advisory bodies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Florida Bankers Association | President & CEO; later CEO Emeritus | 1998–2023 | Led statewide banking advocacy; executive leadership |
| Trustco Bank | Board Director | 2022–2023 | Banking oversight and governance |
| Export-Import Bank Advisory Committee | Board Member | 2018–2020 | Policy advisory for trade finance |
| Federal Retirement Thrift Investment Board | Member | 2002–2010 | Oversight of federal retirement fund investments |
External Roles
| Organization | Role | Status/Start |
|---|---|---|
| Salva Financial Group of Florida | President & CEO | Since 2024 |
| NASDAQ | Executive Advisor (contractor) | Current (as disclosed) |
| Poplar Bank | Board Director | Since 2023 |
| Apalachee Center Hospital, Inc. | Board Member | Since 2022 |
Board Governance
- Independence: Board determined Sanchez is an “independent director” under NASDAQ Rule 5605(a)(2) for the 2025 slate .
- Committee assignments: Member, Company Risk Committee (Risk oversight; 6 meetings in 2024) .
- Attendance: Board held six meetings in 2024; all incumbent directors except A. Scott Trager attended at least 75% of Board meetings (implies Sanchez met minimum attendance) .
- Lead Independent Director: Mark A. Vogt; Independent directors meet privately at least twice per year .
- Controlled company status: RBCAA is a “controlled company” under NASDAQ rules but did not elect majority-independence exemption for 2025 .
Fixed Compensation
| Component | Policy Details | 2024 Amount (Sanchez) |
|---|---|---|
| Annual stock retainer | ~$25,000 determined at May 15, 2024 closing price; awarded 460 vested Class A shares to each non-employee director | Stock awards: $24,950; 460 shares |
| Board meeting fee | $4,000 per meeting in-person; if director attends four or fewer in person, subsequent virtual meetings are $2,000 | Included in Fees earned |
| Committee meeting fee | $1,000 per committee meeting (virtual or in-person) | Included in Fees earned |
| Committee chair retainer | $10,000 per committee chaired (annual cash) | Not applicable (member, not chair) |
| Cash fees (Board + committees) | Per-policy above | $22,000 |
| Total director comp (2024) | Cash + stock | $46,950 |
2024 Director Compensation line item for Sanchez:
| Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| $22,000 | $24,950 | — | — | — | $46,950 |
Notes: Sanchez was paid $22,000 in cash and received his stock award outright (did not defer); directors may elect deferral into the Non-Employee Director and Key Employee Deferred Compensation Plan, but Sanchez did not defer in 2024 .
Performance Compensation
| Metric | Application to Director Pay | Disclosure |
|---|---|---|
| Performance-based metrics (e.g., TSR, ROAA, efficiency) | Not used for non-employee director compensation; directors receive per-meeting fees and annual stock retainer; no options or bonus metrics disclosed for directors | No director performance metrics disclosed |
Other Directorships & Interlocks
| Company/Body | Type | Role | Tenure |
|---|---|---|---|
| Poplar Bank | Bank | Board Director | Since 2023 |
| Trustco Bank | Bank | Board Director | 2022–2023 |
| Export-Import Bank Advisory Committee | Federal advisory | Board Member | 2018–2020 |
| Federal Retirement Thrift Investment Board | Federal board | Member | 2002–2010 |
- Potential interlocks: Service on other bank boards (Poplar Bank; previously Trustco Bank) represents industry network ties; monitor for any overlap with RBCAA counterparties or markets. No RBCAA disclosure of Sanchez-related related-party transactions identified in reviewed sections .
Expertise & Qualifications
- Legal and regulatory expertise: JD; leadership at Florida Bankers Association; advisory roles at Exim Bank and Federal Retirement Thrift Investment Board .
- Banking governance: Multiple bank board roles; risk committee member at RBCAA .
- Military service: United States Air Force, 1976–1981 (honorable discharge) .
Equity Ownership
| Holder | Class A Shares | Class B Shares | Combined % Ownership |
|---|---|---|---|
| Alejandro M. Sanchez | 460 (direct beneficial) | — | <1% (asterisk) |
- Vested vs. unvested: 460 shares outstanding; no deferred director shares disclosed for Sanchez beyond 60 days (many peers have deferred shares; Sanchez not indicated) .
- Hedging/pledging: Company insider trading policy prohibits directors and employees from hedging, pledging, or using margin accounts in Company stock, supporting alignment with long-term shareholders .
- Ownership guidelines: Company maintains stock ownership requirements for directors and NEOs (specific director multiple not disclosed) .
Governance Assessment
- Board effectiveness: Sanchez adds banking association leadership and regulatory advisory experience to RBCAA’s risk oversight, serving on the Risk Committee (6 meetings in 2024) . Independence confirmed; majority-independent board maintained despite controlled company status (did not use NASDAQ exemption) .
- Engagement: Board met six times in 2024; all incumbents except A. Scott Trager met the 75% attendance threshold (Sanchez implied in compliance). Independent directors hold private sessions at least twice per year under a Lead Independent Director framework .
- Compensation alignment: Director pay is modest and balanced between cash per-meeting fees and a small equity retainer (460 shares, ~$25k), encouraging ownership without performance gaming; no options or bonuses are used for directors .
- Policies and controls: Anti-hedging/pledging policy for directors; Compensation Committee administers clawback for incentive-based executive pay; Audit Committee reviews related-party transactions; Risk Committee charter covers cybersecurity and compliance oversight—solid governance scaffolding .
- Conflicts/RED FLAGS: No Sanchez-specific related-party transactions or pledging disclosed in reviewed sections. RBCAA is controlled by Trager family, which can pose influence risk, but board maintains majority independence and defined independent leadership mechanisms; continue monitoring any interlocks with other banks for potential conflicts .