Julie Huber
About Julie Huber
Chief Operating Officer of Equity Bank, age 54, with 21 years at the company since joining in 2003; previously led risk/compliance, operations, strategy, and all bank integration programs, and served as President of Signature Bank following its 2007 acquisition . Education includes a B.S. (McPherson College), MBA (Baker University), and graduation from the Stonier Graduate School of Banking; she has been recognized by the Wichita Business Journal and serves as a trustee and finance chair at McPherson College and as a board member of the Kansas Bankers Association . Company performance under the 2024 program showed adjusted net income up 28% YoY, NIM expansion (3.46%→3.98%), two bank acquisitions, and a successful equity raise; Huber’s PRSUs for the 2022–2024 cycle vested at the 150% maximum on both TSR and core EPS metrics, signaling top-quartile relative execution . Her 2024 cash incentive paid at 142.5% of target on outperformance of adjusted pre‑tax income and net-overhead ratio goals .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Equity Bank | Multiple leadership roles across risk/compliance, operations, strategy, M&A integrations | 2003–present | Led integration of each acquired community bank; enterprise operations leadership |
| Signature Bank (acquired by Equity) | President (post-acquisition) | 2007 (post-acq) – not disclosed | Post-merger leadership and platform integration |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| McPherson College | Board Trustee; Chairwoman, Financial Affairs Committee | Not disclosed | Financial oversight and capital stewardship |
| Kansas Bankers Association | Board Member | Not disclosed | Industry advocacy; regulatory and policy engagement |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary (as reported) | $298,755 | $309,172 | $358,877 |
| Target Bonus (% of base) | 50% (per agreement) | 50% (per agreement) | 55% EIP target opportunity set for 2024 program design |
| Non-Equity Incentive Paid (cash) | $194,263 | $161,953 | $295,866 |
| Stock Awards (grant-date fair value) | $142,507 | $149,990 | $155,052 |
| All Other Compensation | $35,364 | $110,574 | $111,197 |
- 2024 base salary rate was set at $377,500 (promotion to COO and acting CRO responsibilities), while reported salary reflects actual pay for the year .
Performance Compensation
Annual Executive Incentive Plan (EIP) design and results
| Year | Metric | Weight | Threshold | Target | Maximum | Actual/Result | Payout impact |
|---|---|---|---|---|---|---|---|
| 2024 | Adjusted Pre-tax Income vs budget | 60% | $62.247m | $80.921m | $87.970m | $87.970m achieved | 150% of metric |
| 2024 | Net-overhead ratio (Adj NII/Adj NIE) vs budget | 25% | 25.2% | 32.8% | 32.8% | 32.8% achieved | 150% of metric |
| 2024 | Individual performance | 15% | — | 100% | 100% | 100% (met) | 100% of metric |
| 2024 | EIP Target as % of Salary (Huber) | — | 32% (threshold) | 55% (target) | 78% (max) | Total payout 142.5% of target | Cash paid $295,866 |
| 2023 | Adjusted Pre-tax Income vs budget | 60% | $60.325m | $78.423m | — | $62.871m achieved | 107.0% of metric |
| 2023 | Net-overhead ratio vs budget | 25% | 25.5% | 33.2% | — | 25.7% achieved | 101.0% of metric |
| 2023 | Individual performance | 15% | — | 100% | 100% | 100% (met) | 100% of metric |
| 2023 | EIP Target as % of Salary (Huber) | — | 29% (threshold) | 50% (target) | 71% (max) | Total payout 104.5% of target | Cash paid $161,953 |
2024 actuals were adjusted per plan for securities gains/losses, merger costs, provision, and incentive accruals; see reconciliation tables .
Long-Term Incentive Plan (LTIP) – grants, structure, and vesting
| Year | Instrument | Target shares | Target value ($000) | Vesting | Performance metrics |
|---|---|---|---|---|---|
| 2024 | TRSUs | 2,360 | $155 | 33.33% annually over 3 years | Time-based |
| 2024 | PRSUs | 2,360 | $155 | Cliff at end of 3-year period | 50% relative TSR; 50% relative core EPS growth; 0–150% payout schedule |
| 2023 | TRSUs | 2,604 | $150 | 33.33% annually over 3 years | Time-based |
| 2023 | PRSUs | 2,604 | $150 | Cliff at end of 3-year period | 50% relative TSR; 50% relative core EPS growth; 0–150% payout schedule |
PRSU performance outcomes:
- 2022–2024 PRSU cycle (awarded 1/28/2022): Relative TSR at 88th percentile and relative core EPS at 86th percentile; Julie Huber vested 3,378 shares (150% of 2,252 target) .
- 2019–2023 cycle (awarded 1/29/2021): Aggregate payout certified at 124.6% of target; Huber vested 4,020 vs. 3,227 target .
Outstanding and option history (as of 12/31/2023):
- 7,500 stock options exercisable at $33.15, expiring 01/30/2027 (legacy grants) .
Equity Ownership & Alignment
| As-of date | Beneficial ownership (shares) | Notes |
|---|---|---|
| Mar 1, 2024 | 52,389 | Includes (i) 25,189 shares held by Huber, (ii) 19,700 shares held jointly with spouse, (iii) 7,500 options exercisable within 60 days |
| Feb 28, 2025 | 58,043 | Company total shares outstanding: 17,508,740 |
| Mar 1, 2022 | 66,567 | Historic reference |
Ownership policies and alignment:
- Stock ownership guidelines for NEOs: 2.5× base salary; disclosure indicates all covered executives are compliant based on ownership or time-in-role thresholds as of reporting date .
- Hedging and pledging of company securities are prohibited for directors and executive officers (limited exceptions require pre‑approval); short sales and derivatives trading also prohibited .
- No pledging disclosure for Huber (contrast: separate footnote identifies pledging by a director, not Huber) .
Employment Terms
| Term | Julie Huber |
|---|---|
| Employment agreement | Entered Nov 5, 2021; initial 3-year term; auto-renews for successive 1-year terms unless notice 90 days prior to term end |
| Target bonus | 50% of base salary (subject to Committee-set performance criteria) |
| LTI target | 50% of base salary annual equity award value |
| Non-compete / Non-solicit | 12 months post-employment for each |
| Change-in-control (CIC) multiple | Continuation multiple of 2.99× for NEOs (applies under defined dual-trigger construct) |
| CIC/Severance economics (illustrative as of 12/31/2021) | Compensation continuation $1,500,534 upon CIC; $285,000 without cause/good reason; equity award vesting value $435,729 at target; values based on $33.93 stock price at 12/31/2021 |
| Clawback | Compensation Recovery Policy (NYSE Rule 10D‑1 compliant); recoupment for restatements and defined misconduct; covers incentive and equity comp |
| Insider trading policy | Prohibits hedging/pledging; bars margin accounts, short sales, and derivative transactions by insiders |
Investment Implications
- Pay-for-performance alignment: 2024 EIP paid 142.5% of target driven by above‑max corporate metrics; PRSUs paid at 150% for the 2022–2024 cycle on both TSR and core EPS, indicating strong relative outperformance and alignment with shareholder returns .
- Vesting/insider supply: TRSUs vest ratably over three years and PRSUs cliff‑vest at cycle end, creating periodic but predictable settlement events; Huber also holds legacy options (7,500 at $33.15) through 2027, suggesting modest incremental potential supply vs. total float .
- Retention risk: Low. Multi‑year auto‑renewing agreement, competitive EIP/LTI targets, executive ownership guidelines (in compliance), and tenure since 2003 support continuity; CIC protection at 2.99× reduces distraction risk during strategic events .
- Governance posture: No hedging/pledging by policy; updated clawback in 2023; ownership guidelines enforced; say‑on‑pay support at ~70% in 2024 (down from ~74% in 2023) warrants continued engagement but remains within acceptable range for peers .
- Execution track record: Huber led due diligence and integration for two 2024 bank acquisitions and 2023’s Rockhold BanCorp agreement; operational initiatives (e.g., ITM rollout) and bank platform integrations contribute to earnings accretion targets and scalable operating model .
- Company performance context: 2024 adjusted net income up 28% YoY with NIM expansion and accretive M&A; these drivers underpinned the above‑target incentive outcomes and support forward LTIP potential if relative TSR/core EPS momentum is sustained .