Dale Field
About Dale Field
Dale F. Field is Senior Vice President and Chief Credit Officer at Eagle Bancorp Montana (Opportunity Bank of Montana). He joined in 2001 as VP/Commercial Lender, became VP/Chief Credit Administration Officer in 2011, and SVP/Chief Credit Officer in July 2014; he holds a B.S. in Agricultural Business (minor in Economics) from Montana State University and is a graduate of Pacific Coast Banking School; age 53 as of the 2025 proxy, with 23 years at the company and 27 years in banking, and prior service as a Western Bankers Association board member . Under his credit leadership, reported asset quality remained strong (NPAs/assets 0.19% at 12/31/24 and 0.20% at 9/30/25), while profitability metrics included 2024 ROAA 0.47% and ROAE 5.94%, and YTD 2025 ROAA 0.64% and ROAE 7.50% as reported; Company TSR value per $100 fell to $68 in 2024 (from $71 in 2023 and $72 in 2022) and net income was $9.78m in 2024 (vs. $10.06m in 2023, $10.70m in 2022) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Eagle Bancorp Montana / Opportunity Bank | VP/Commercial Lender | 2001–2011 | Senior commercial lending leadership; foundation for later credit administration responsibilities |
| Eagle Bancorp Montana / Opportunity Bank | VP/Chief Credit Administration Officer | 2011–2014 | Led credit administration prior to CCO role |
| Eagle Bancorp Montana / Opportunity Bank | SVP/Chief Credit Officer | 2014–present | Enterprise credit risk leadership since promotion effective July 1, 2014 |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Western Bankers Association | Board member (former) | Not disclosed | Industry advocacy and network; external risk insights |
| Helena Exchange Club | President and board member (prior) | Not disclosed | Community leadership and stakeholder engagement |
| Clancy, Montana School Board | Trustee (completed nine years) | Not disclosed | Governance experience in public-sector setting |
Fixed Compensation
Multi-year summary (NEO years only):
| Year | Base Salary ($) | All Other Compensation ($) | Notes |
|---|---|---|---|
| 2023 | 245,500 | 69,513 | “All Other” includes 401(k) match $5,654, life/medical $12,211, profit sharing $16,209, Salary Continuation benefit $33,496, ESOP $1,943 |
| 2022 | 236,000 | 62,841 | “All Other” includes 401(k) match $4,710, life/medical $10,933, profit sharing $12,960, Salary Continuation benefit $32,185, ESOP $2,053 |
Performance Compensation
- Annual cash incentive design ties executive payouts primarily to after-tax net profitability and the bank’s efficiency ratio, with individual goals layered in; the Board approves awards. For 2023, Field’s cash incentive was $39,600 .
Cash incentive (Field) and program structure:
| Year | Metric | Weighting | Target | Actual | Payout |
|---|---|---|---|---|---|
| 2023 | After-tax net profitability; Efficiency ratio; individual objectives | Majority corporate; remainder individual (exact % not disclosed) | Not disclosed | Not disclosed | 39,600 |
Equity awards and vesting:
| Grant Type | Grant/Status | Shares/Value | Vesting | Notes |
|---|---|---|---|---|
| Restricted Stock (time-based) | Granted Nov 1, 2023 | 2,085 unvested; $32,922 MV at 12/31/23 | Vests ratably over 3 years through Nov 1, 2026 | 2023 awards sized at 10% of base salary for non-CEO NEOs in transition to a formal LTIP |
| Stock Options | Company-wide | — | — | No stock options have been granted under the plan to date |
Forward-looking LTIP structure (effective 2025 awards): 50% performance-vesting and 50% time-vesting RS; performance portion contingent on meeting financial metrics over a three-year period; double-trigger vesting upon CIC if awards are assumed .
Equity Ownership & Alignment
| Measure | Detail |
|---|---|
| Beneficial ownership | 20,132 shares as of March 1, 2024; less than 1% of shares outstanding; includes ESOP and Profit Sharing holdings |
| Unvested RS (12/31/23) | 2,085 shares; vests ratably through Nov 1, 2026 |
| Options (exercisable/unexercisable) | None disclosed; company had not granted options to NEOs under the plan to date |
| Hedging/pledging | Insider Trading Policy strongly discourages hedging/derivatives; prohibits margin/pledging except with pre-approval from the Insider Trading Compliance Officer |
| Ownership guidelines | CEO and non-employee directors have ownership and retention guidelines; no executive-wide guideline disclosed for other officers |
Vesting calendar and potential selling pressure
- RSU vesting dates from 2023 grant: ratable tranches through Nov 1, 2026; potential incremental supply around vesting windows subject to blackouts and pre-clearance .
Employment Terms
| Topic | Key terms |
|---|---|
| Role and tenure | Joined 2001; promoted to VP/Chief Credit Administration Officer in 2011; SVP/Chief Credit Officer since July 1, 2014 |
| Change-in-control agreement (non-CEO execs) | Double trigger; benefit equals 1x annual salary plus most recent-year incentive bonus if terminated without cause or for good reason within 4 months before to 18 months after a CIC; up to 12 months COBRA paid; two-year term with auto-renewals |
| Salary Continuation Agreement (nonqualified retirement) | Plan provides fixed lifetime annual benefit at normal retirement age; Field’s benefit increased on Aug 20, 2021 from $61,500 to $70,000 at age 65; Agreement and later amendments on file (including Third Amendment adopted Oct 17, 2024) |
| Clawback policy | Company maintains a clawback policy for restatements per SEC rules (applies to equity and certain incentive comp) |
| Perquisites | Company states it does not provide significant perquisites |
Investment Implications
- Pay-for-performance and design changes: Field’s 2023 total comp was modest ($379k), with cash incentive tied to bank profitability/efficiency and a small time-based equity grant; starting 2025, the LTIP shifts to 50% performance-vesting over three years, improving alignment but increasing at-risk equity for senior officers .
- Retention and CIC protection: A standing salary continuation benefit ($70k/yr at 65) and a double-trigger CIC agreement (1x salary+bonus) help reduce retention risk during strategic transitions while moderating potential payout magnitudes for non-CEO execs .
- Ownership and selling pressure: Field holds 20,132 shares (<1%) and had 2,085 unvested RS as of 12/31/23; incremental selling pressure is limited, though vesting windows (through Nov 1, 2026) are watchpoints for liquidity events subject to blackout/10b5-1 and anti-pledging policy .
- Execution and risk oversight: As CCO, Field’s tenure spans a period of strong reported credit quality (NPAs/assets 0.19% at YE24; 0.20% at 9/30/25), supporting underwriting discipline; however, lagging TSR ($68 value of $100 by 2024) and mid-single-digit ROE signal broader profitability and market challenges beyond credit that could influence incentive outcomes .
- Governance and shareholder feedback: 2024 say‑on‑pay passed with 70.7% support, prompting the Compensation Committee to engage Meridian and add performance-based equity—investors should monitor the selected LTIP metrics and goal rigor in 2025 to assess improved pay-performance linkage .
Supporting Data
Executive background and tenure
- Executive officers list (age, position) and biography with education and career milestones .
- Promotion to SVP/Chief Credit Officer effective July 1, 2014 .
- Executive management slides indicating years at company and in banking (23 and 27, respectively, in 2025 deck) .
Company performance context
- Credit and profitability metrics in year-end and YTD presentations (NPAs/assets, ROAA, ROAE, NIM) .
- Pay versus Performance table (TSR values and net income for 2022–2024) .
Compensation details (NEO years)
- 2023 and 2022 Summary Compensation Tables for Field (salary, bonus, stock awards, all other comp) .
- 2023 Outstanding Equity Awards (Field: 2,085 unvested RS; vesting through Nov 1, 2026) .
- LTIP transition to 50% performance-vesting beginning 2025; no options historically granted .
- Cash incentive program design (profitability and efficiency ratio) and 2023 actual awards; 2024 corporate goal outcomes (for program context) .
Ownership and policies
- Beneficial ownership table showing Field’s 20,132 shares (<1%) as of March 1, 2024 .
- Insider Trading Policy (anti-hedging, anti-pledging/margin restrictions) .
- Stock ownership guidelines apply to CEO/directors, not broadly to all officers .
Contracts and protections
- Change-in-control agreements for executive officers (double trigger; 1x salary+bonus; COBRA up to 12 months) .
- Salary Continuation Agreement benefit increased to $70,000 at age 65 (2021 amendment); additional amendments (2018, 2022, 2024) referenced in exhibits .