First National's senior executives shared a total remuneration package of £1.2 million in 1997. The society also made a payment of £206,000 to former director, Mr Gerry Murphy, when he resigned from the society last September. He left First National to pursue other business and academic interests.

Its annual report shows that group managing director, Mr John Smyth, deputy managing director, Mr Tony Shanahan, and group operations director, Mr Paul Reville, shared salaries of £532,000. Mr Murphy's salary for the nine months to the end of September is also included.

In addition, they received director's fees of £77,000, and benefits in kind worth £60,000. The three directors were also paid an annual bonus, sharing a payment of £327,000, while the society made further pension contributions of £197,000.