William Hall
About William G. Hall
William G. Hall (age 78) serves as an independent director of Business First Bancshares, Inc. and b1BANK; he joined BFST’s board following the Oakwood Bancshares acquisition completed October 1, 2024 . Hall’s core credentials include decades of bank board leadership and M&A experience (Bedford National Bank; Mid-Cities Bancshares/National Bank), plus principal roles as CEO/managing partner of Align Capital and CEO of Treats Investments, a family office . The board has affirmatively determined all directors other than the CEO are independent, which includes Hall .
Past Roles
| Organization | Role | Tenure | Outcome/Notes |
|---|---|---|---|
| Oakwood Bancshares, Inc.; Oakwood Bank, Inc. | Chairman & Director; Director | Not disclosed | Oakwood merged into Business First on Oct 1, 2024 |
| Bedford National Bank | President & Director | Not disclosed | Sold to Wells Fargo |
| Mid-Cities Bancshares, Inc.; Mid-Cities National Bank | Chairman, Vice Chairman, Director | Not disclosed | Sold to Bank of Texas |
External Roles
| Organization | Role | Committees/Impact | Notes |
|---|---|---|---|
| Align Capital (Austin, TX) | CEO & Managing Partner | Not disclosed | Private equity leadership |
| Treats Investments, LLC (Fort Worth, TX) | CEO | Not disclosed | Family office leadership |
| Anson Bancshares, Inc. | Director & Treasurer | Not disclosed | Texas bank holding company |
| First National Bank of Anson | Director | Not disclosed | Subsidiary of Anson Bancshares |
Board Governance
- Independence: Board determined all directors except Mr. Melville are independent, including Hall .
- Committee assignments: Hall is not listed on the Audit, Compensation, or Nominating/Corporate Governance Committees in the 2025 proxy .
- Attendance: Board held 8 scheduled meetings in 2024; all directors attended at least 75% of board and committee meetings, and all then-serving directors attended the 2024 annual meeting .
- Board leadership: David R. Melville named Chairman in July 2024; Rolfe H. McCollister, Jr. named Lead Director .
- Mandatory retirement policy: Adopted March 27, 2025—age 75 mandatory retirement with limited exceptions; directors aged 75+ at adoption may serve until the 2026 annual meeting but are not expected to be renominated thereafter absent exceptions. Hall (78) is subject to this policy .
Fixed Compensation
| Component | Amount | Vesting/Terms | Notes |
|---|---|---|---|
| Annual cash retainer (non-employee director) | $25,000 | N/A | Applies to all non-employee directors |
| Lead Director cash retainer | $65,000 | N/A | Separate rate for Lead Director (not Hall) |
| Committee retainers | Additional monthly retainers | N/A | For chair/members; amounts vary by committee responsibilities |
| Annual equity retainer | $25,000 value | 1-year cliff vest | Shares determined by prior-day closing price |
Performance Compensation
| Component | Performance Metrics | Vesting | Notes |
|---|---|---|---|
| Director equity retainer | None disclosed for directors | 1-year cliff vest | BFST does not disclose performance-based targets for director compensation; equity grants are time-based |
Other Directorships & Interlocks
| Company | Relationship to BFST | Potential Interlock/Conflict Consideration |
|---|---|---|
| Anson Bancshares, Inc.; First National Bank of Anson | External bank/holding company | BFST operates in Texas; concurrent service on another bank’s board could present potential competitive/conflict-of-interest considerations depending on market overlap and transactions; BFST uses a formal related-party policy and Regulation O/W controls |
| Align Capital; Treats Investments | Investment/PE roles | No specific related-party transactions disclosed; BFST policy requires committee review of any such transactions >$120,000 |
Expertise & Qualifications
- Banking and M&A: Led/served on multiple bank boards with successful sale outcomes (Bedford National Bank to Wells Fargo; Mid-Cities to Bank of Texas), and chaired Oakwood Bancshares pre-merger into BFST .
- Capital and investing: CEO/managing partner at Align Capital and CEO of Treats Investments (family office), with continued board financial stewardship roles (treasurer of Anson Bancshares) .
Equity Ownership
| Item | Amount/Status | Notes |
|---|---|---|
| Total beneficial ownership | 36,886 shares | Under 1% of shares outstanding per proxy table |
| Ownership breakdown | 14,939 shares via Align Opportunities, LP (controlled by Hall); 2,045 vested options; 72 shares held by Hall in escrow; 3,550 shares held by Align Opportunities, LP in escrow | Escrow shares subject to forfeiture until resolution of litigation related to Oakwood Bank and a former customer or two years from merger closing |
| Pledged shares | Not disclosed for Hall | Proxy footnotes disclose pledging for some insiders; none noted for Hall |
| Director ownership guidelines | 3x base cash retainer; 5-year compliance window | Applies to non-employee directors |
| Hedging/pledging policy | Hedging discouraged and requires preclearance; pledging discouraged and requires preclearance | Insider Trading Policy governs such transactions |
Governance Assessment
-
Positives
- Independent director; board has majority independence .
- Attendance and engagement met minimum standard (all directors ≥75% in 2024); full attendance at prior annual meeting .
- Strength in banking governance/M&A and capital allocation through prior bank boards and PE/family office roles .
- Strengthened governance architecture: Clawback policy, ownership guidelines for directors (3x retainer), and hedging/pledging controls .
- Say-on-pay improved materially to 92.4% in 2024 after governance enhancements—signals receptivity to shareholder feedback (context for overall governance climate) .
-
Risks/Red Flags
- Age-triggered mandatory retirement: Hall at 78 falls under the 2025 policy; absent an exception, tenure likely ends at or before the 2026 annual meeting—potential near-term board turnover and continuity risk .
- Escrowed shares tied to Oakwood-related litigation: 72 shares (Hall) and 3,550 shares (Align Opportunities, LP) in escrow subject to forfeiture until litigation resolves or two years from closing—reputational/related-party exposure to Oakwood legacy matters .
- External bank directorships (Anson Bancshares / First National Bank of Anson) may pose potential competitive/conflict considerations in overlapping geographies; BFST reports no related-party transactions >$120,000 and has formal policies, but investors should monitor disclosures .
- Not currently listed on any standing board committee (Audit, Compensation, Nominating/Governance), which may limit direct oversight influence in key areas .