BV Financial in Baltimore streamlined its top position.
The company disclosed in a regulatory filing that David Flair resigned as co-president and co-CEO on Jan. 22.
BV Financial will pay Flair about $2.1 million in a lump sum. Flair will also receive his 2025 bonus.
Flair agreed to a consulting agreement that will end on Sept. 7, 2028, which will allow him to vest his equity grants over time.