Small local bank CFOs, or chief financial officers, usually oversee the budgets and financial records in their financial institutions, as most have accounting or financial backgrounds. They also plan the financial investments of banks' assets, help marketing officers develop and execute growth strategies and complete annual financial reports, such as income statements and balance sheets. If you want to become a small local bank's CFO, you can expect to earn less than you would at a larger bank.

Salaries Over $60,000

The average annual salary of a small local bank CFO was $61,000 as of 2013, according to the job site Simply Hired. To become a CFO in a small local bank, you need a minimum of a bachelor's degree in accounting or finance. Most CFOs, including those at small banks, also have at least five or more years of experience as CFOs or bank executives, according to Inc. Other important qualifications are an attention to detail and analytical, management, time management, communication, decision-making, problem-solving and computer skills.

Top Pay in D.C.

In 2013, average salaries for small local bank CFOs varied most significantly in the South region, according to Simply Hired, where they earned the lowest salaries of $47,000 in Mississippi and the highest of $96,000 in Washington, D.C. If you worked as a small local bank CFO in Montana or California, you'd earn an average of $49,000 or $69,000, respectively -- the lowest and highest salaries in the West. In the Midwest, you'd make $47,000 to $65,000 per year in South Dakota or Minnesota, respectively. These bank CFOs earned $55,000 to $74,000 in Maine or New York, respectively, which were the lowest and highest salaries in the Northeast.

Earn More Than State Government Accountants

While small local bank CFOs made $61,000 in 2013, Simply Hired reported average annual salaries of $82,000 for all bank CFOs, which includes those employed by larger banks. Accountants earned average annual salaries of $71,040 as of May 2012, according to the U.S. Bureau of Labor Statistics. Accountants' salaries were highest at securities and commodities exchanges, where they earned $96,260. State government accountants earned less than small local bank CFOs at $55,850. A state park commission is an example of a state government employer.

Slow Job Growth

The BLS doesn't forecast jobs for small local bank CFOs. It predicts only a 1 percent increase in jobs for tellers, who also work at small community banks, through 2020 -- a slower-than-average growth rate. The hiring rate of tellers is relevant to jobs of small local bank CFOs because job growth for both have been tempered by increases in online banking. The job of bank CFO is also a high-level position, and fewer available jobs typically exist at this level.