Off Beat: Because that's where the money is

Vacations sometimes get in the way of saying goodbye.

And it was like that for this columnist, who didn't get to say a proper goodbye to Butte Community Bank, which, as you may remember, went under last month, courtesy of state and federal regulators.

With all the chatter in recent years about payments to Wall Streeters, you may forget that even the local bankers are in for big pay days.

So what were the bigwigs at Butte Community Bank making, even as the ship was listing?

You can find that information online, courtesy of Community Valley Bancorp, the financial holding company of Butte Community.

In fact, just a few months ago, Butte Community's shareholders received up-to-date information about bank management in their proxy statements.

Take Keith Robbins, for example. Robbins was Butte Community's president and CEO through the end of last year when he retired.

Robbins total compensation — base salary, plus other perks — in 2008 was $892,193. Things sagged a bit in 2009, when total compensation dropped to just $442,144.

John Coger, who was president when the regulators came knocking last month and was Robbins' executive vice president, collected $580,892 in total compensation in 2008 and $453,794 in 2009.

His base salary this year was supposed to be $220,000.

The proxy statement also includes this nugget about "significant post-employment benefits" Robbins and Coger were supposed to receive in "salary continuation benefits" upon retirement.

According to the proxy, Robbins is eligible for salary continuation benefits of up to $175,000 per year, while Coger will get $125,000 per year.

These payments are to continue for 20 years after their retirement from Community Valley Bancorp at their normal retirement age.

Robbins began drawing his salary continuation benefits in January.

The salaries and retirement perks probably aren't out of line in the heady world of high finance.

Things seemed to be going well for Community Valley Bancorp, which reported net income of $6.4 million in 2007 and $2.7 million in 2008.

And then came 2009. A $27.5 million net loss.

As for Community Valley Bancorp, it's considering filing bankruptcy, according to an Aug. 30 filing with the Securities and Exchange Commission.

Not feeling well?

And on the other end of the economic spectrum, there are people who can't afford health insurance.

The UCLA Center for Health Policy Research released its latest estimates last month by county of the uninsured.

The statewide rate is 24.3 percent.

It's 27.7 percent in Yuba County, 22.8 percent in Sutter County and 27.9 percent in Tehama-Colusa-Glenn.

Placer and Alameda counties had the lowest rate: 15 percent.