COLONIE - Pioneer Bank chief Thomas Amell earned a $187,731 bonus last year despite the Colonie-based bank's $35 million entanglement in the MyPayrollHR scandal that set off shock waves through the Capital Region and other parts of the country when the Clifton Park software company collapsed.

That's because Amell was paid the bonus in February of 2019, months before MyPayrollHR failed in epic fashion, leaving hundreds of small businesses unable to meet payroll and scrambling to survive.

Amell earned $866,131 in total compensation in 2019, most of it from his base salary of $651,182 that was set last year when the Colonie bank went public. His total compensation included not only his bonus but also 401(k) contributions, a company car and club membership dues. Amell actually purchased the car last year, it turns out.

Amell's $187,731 bonus was earned through the bank's executive bonus plan tied to the bank's performance measured by various benchmarks such as return on assets and deposit growth. The bonus can be up to 40 percent of an executive's base salary, and Amell was awarded 28 percent of his salary.

The bonus was paid in February 2019, months before the MyPayrollHR scandal broke. That alleged scheme forced the bank to write off $16 million in loans to the company and related entities. Pioneer had another $19 million in deposits tied to the scandal, which has resulted in a federal bank fraud charge against MyPayrollHR's CEO Michael Mann.

Pioneer Bank is holding its annual shareholder meeting on Feb. 18 at its headquarters building on Albany Shaker Road. The meeting begins at 9 a.m. As a public company regulated by the U.S. Securities and Exchange Commission, Pioneer Bank must disclose the compensation of top executives to shareholders in advance of the meeting. Any impact on his bonus this year could be revealed later this year since the bank's 2020 shareholder meeting is scheduled for Nov. 23.