John J. Zollinger, IV
Senior Executive Vice President and Chief Banking Officer at HBCP
Executive
About John J. Zollinger, IV
Senior Executive Vice President and Chief Banking Officer of Home Bancorp, Inc. and Home Bank, N.A.; age 58; promoted to SEVP on July 15, 2024; EVP & CBO since November 2022; Director of Commercial Lending since 2020; with Home Bank since 2010 . Education: MBA (Finance) University of New Orleans; BS (Finance) Spring Hill College; Graduate School of Banking at LSU . Compensation is tied to ROA, loan portfolio growth, core deposit growth, strategic objectives, and mortgage/SBA profitability; Company pay-for-performance also highlights ROA, adjusted diluted EPS, and efficiency ratio as most important measures . Company TSR (value of $100 invested) was 104 (2022), 135 (2023), 135 (2024), while net income was $34,072k, $40,240k, and $36,427k, respectively .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Home Bank, N.A. | Senior EVP & Chief Banking Officer | 2024–present | Leads commercial banking, treasury management, and mortgage operations across seven regions; oversees SBA and Government Guaranteed Lending . |
| Home Bank, N.A. | EVP & Chief Banking Officer | 2022–2024 | Executed commercial growth initiatives post-promotion to EVP in Nov-2022 . |
| Home Bank, N.A. | Director of Commercial Lending | 2020–2022 | Directed commercial lending to expand loan portfolio . |
| Home Bank, N.A. | Commercial Relationship Manager | 2010–2020 | Originated and managed commercial relationships across Home Bank markets . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Reconcile New Orleans, Inc. (Café Reconcile) | Vice-Chair | Current | Community workforce development leadership; supports mission-driven outcomes . |
| GNO, Inc. | Executive Committee & Board Member | Current | Regional economic development advocacy; information flow to banking strategy . |
| Greater New Orleans Executives Association (GNOEA) | Treasurer | Current | Executive network engagement; potential business development channels . |
Fixed Compensation
| Component | 2024 | Notes |
|---|---|---|
| Base Salary ($) | $271,001 | 8-K announced base annual salary $271,000 upon promotion (Jul-16-2024) . |
| Salary Increase (%) | 4.2% (Apr-2024) | Compensation Committee adjustment. |
| Target Bonus (% of base) | 30% | Matrix-defined target. |
| Maximum Bonus (% of base) | 50% | Matrix-defined max. |
| Actual Bonus Paid ($) | $108,500 (2024) | Based on ROA, loan/deposit growth, mortgage/SBA profitability, and strategic scorecard . |
Performance Compensation
| Metric | Weight | Threshold | Target | Actual | Maximum | Payout (2024) |
|---|---|---|---|---|---|---|
| Return on Average Assets (ROA) (%) | 50% | 0.87 | 1.02 | 1.08 | 1.17 | $108,500 (total bonus) |
| Loan Portfolio Growth ($000s) | 15% | 108,520 | 127,671 | 136,312 | 146,822 | — (rolled into total) |
| Core Deposit Growth ($000s) | 10% | 60,488 | 71,162 | 770 | 81,836 | — (rolled into total) |
| Strategic Objectives (score 1–10) | 15% | — | 5 | 10 | 10 | — (rolled into total) |
| Mortgage/SBA Loan Profitability (score 1–10) | 10% | — | 5 | 10 | 10 | — (rolled into total) |
- Equity awards: RSUs granted 1,600 shares on 5/12/2024, grant date fair value $59,984; vest 20% annually over five years, beginning on grant anniversary .
- 2024 exercises/vesting: 520 options exercised (value realized $12,259); 683 shares vested (value realized $25,456), indicating some near-term liquidity events from equity .
Equity Ownership & Alignment
| Item | Value | Detail |
|---|---|---|
| Beneficial Ownership (shares) | 15,085 | As of Mar 24, 2025 (record date). |
| Shares Outstanding | 8,020,878 | Record date basis. |
| Ownership (%) | 0.188% (15,085 ÷ 8,020,878) | Computed from disclosed shares and SO. |
| Options Exercisable (60-day window) | 4,600 | Included in beneficial ownership methodology. |
| RSUs/Vested within 60 days | 880 | Included in beneficial ownership methodology. |
| Vested Options Cash Value (as of 12/31/2024) | ~$52,897 | Based on intrinsic value at $46.21 close. |
| Unvested RSUs (counts; market value at $46.21) | 1,600 ($73,936); 1,120 ($51,755); 585 ($27,033); 170 ($7,856); 60 ($2,773) | 2024/2023/2022/2021/2020 grants. |
| Options Detail (Grant, Strike, Expiry) | 660 @ $28.00 (5/23/2026); 750 @ $35.26 (5/12/2027); 740 @ $45.12 (5/23/2028); 850 @ $35.85 (5/23/2026); 640 @ $21.99 (3/12/2030); 800 @ $36.77 (5/12/2031) | Options generally vest 20% annually from first anniversary . |
| ESOP Allocation (personal account) | 6,860 | Voting power retained by participant. |
| 401(k) Holdings (shares) | 1,355 | Profit Sharing 401(k) plan. |
| Hedging/Pledging | Hedging requires Board pre-clearance; no pledged shares reported | Insider Trading Policy and beneficial ownership footnote. |
Employment Terms
| Provision | Terms |
|---|---|
| Employment Agreement | The Company/Bank maintains employment agreements with certain executives; potential payments table indicates Zollinger does not have cash severance; change-in-control benefits driven by equity and ESOP allocations . |
| Severance (no CIC) | No cash severance disclosed for Zollinger; table shows $0 . |
| Change-in-Control with Termination | ESOP allocation estimate $74,774; acceleration value of unvested options $7,651; unvested RSUs $163,352; total $245,777 (as of 12/31/2024) . |
| Accelerated Vesting Triggers | Unvested stock options and RSUs fully vest upon death, disability, or change-in-control . |
| Clawback Policy | Amended/restated in 2023 to comply with SEC/Nasdaq; recovery of performance-based equity and cash incentive compensation under specified circumstances; filed as Exhibit 97.1 to 2023 10-K . |
| Insurance & Disability | Group life (up to $1.0M cap via split-dollar structure) and disability benefits described for executives; death/disability also accelerate equity . |
Performance & Track Record
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Company Total Shareholder Return (value of $100) | 104 | 135 | 135 |
| Net Income ($USD Thousands) | 34,072 | 40,240 | 36,427 |
| ROA (%) | 1.25 | 1.23 | 1.08 |
| Revenues ($USD) | $13,885,000* | $14,636,000* | $14,625,000* |
| Values retrieved from S&P Global.* |
Compensation Structure Analysis
- Mix and risk: Significant at-risk pay via annual bonus tied to ROA, loan/deposit growth, and profitability; equity awards vest over 5 years (20% per year), indicating meaningful retention incentives and long-term alignment .
- Shift in equity vs cash: 2024 includes RSU grants; policy notes larger cash bonus for CEO in lieu of equity starting 2025, but Zollinger’s RSUs continue under 2021 Plan, preserving long-term equity exposure .
- Ownership alignment: Direct/indirect holdings, vested option value, and unvested RSUs demonstrate skin-in-the-game; no pledging; hedging restricted .
- Insider selling pressure: 2024 saw 520 options exercised and 683 RSUs vested with realized value, implying periodic liquidity events around anniversary vest dates . The five-year RSU schedule (20% annually) creates steady unlocks that could produce selling pressure if not covered by 10b5-1 programs (no 10b5-1 disclosure in proxy) .
Investment Implications
- Pay-for-performance alignment: Bonus metrics (ROA, loan/deposit growth, mortgage/SBA profitability) are directly tied to banking value creation and risk-adjusted performance; realized bonus of $108,500 in 2024 reflects strong ROA and loan growth delivery .
- Retention and equity cadence: 5-year RSU vesting cadence and multiple outstanding grants suggest ongoing retention hooks; absence of cash severance for Zollinger limits guaranteed payouts, increasing performance orientation and potential retention risk if external opportunities arise .
- Liquidity/overhang: Annual vesting and periodic option exercises (520 exercised in 2024; 683 vested) create predictable unlocks; monitor Form 4s around May/anniversary periods for supply dynamics .
- Alignment safeguards: No pledging, Board-controlled hedging pre-clearance, and clawback policy reduce governance red flags and strengthen shareholder alignment .
- Performance context: TSR held steady at 135 in 2023–2024; net income declined from $40.2M to $36.4M; continued bonus reliance on ROA and efficiency is appropriate in the current rate environment; equity vesting acceleration under CIC could create meaningful personal value in a sale scenario ($245,777 as disclosed) .