The chief executive of Community First Bankshares, the US bank being bought for $1.2bn (€970m) by BNP Paribas, could land windfall payments of as much as $22m once the takeover is completed towards the end of this year.

Mark Anderson, who as president and chief executive has run Community First since March 2000, would receive the windfalls based on his share stake, equity options and lucrative three-year severance deal agreed with the bank at the end of last year.