John W. Bordelon
About John W. Bordelon
John W. Bordelon, age 69, is Chairman of the Board (since May 12, 2020), President and Chief Executive Officer of Home Bancorp, Inc. and Home Bank, N.A.; he has served as CEO since 1993, director since 1990, and previously held various management roles at Home Bank since joining in 1981 . Under his leadership, pay-versus-performance disclosures show five-year total shareholder return (TSR) index of 135 in 2024 (vs. 132 for the S&P US Small Cap Banks peer TSR), 2024 ROA of 1.08%, and 2024 net income of $36.4 million; 2023 net income was $40.2 million and 2022 was $34.1 million . The 2024 incentive framework for the CEO targeted ROA, adjusted EPS, efficiency ratio, and strategic/operational objectives; the company reported 2024 efficiency ratio of 64.71% and adjusted EPS of $4.55 used in bonus determinations . The board acknowledges potential conflicts in the CEO+Chair structure and cites regulatory oversight and independent committees as safeguards .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Home Bancorp, Inc. / Home Bank, N.A. | Chairman of the Board | 2020–present | Unified leadership and board oversight; board cites benefits to strategy execution under combined CEO/Chair role . |
| Home Bancorp, Inc. / Home Bank, N.A. | President & CEO | 1993–present | Long-tenured bank operator; continuity through multiple cycles . |
| Home Bank, N.A. | Management roles | 1981–1993 | Progressively senior roles; deep institutional knowledge . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Community Foundation of Acadiana | Director (prior service) | n/d | Community engagement and philanthropic governance . |
| Greater Lafayette Chamber of Commerce | Chairman (prior) | n/d | Regional business advocacy leadership . |
| Southwest Medical Center; United Way of Acadiana; Louisiana Open; Ascension Day School; Women’s & Children’s Hospital; UL Athletic Foundation Advisory | Board/leadership roles (prior) | n/d | Local network, stakeholder relations . |
| Founder, Ragin Cajun Athletic Foundation | Founder | n/d | Institution-building and community relations . |
Fixed Compensation
Multi-year CEO compensation (as reported):
| Year | Base Salary ($) | Stock Awards ($) | Non-Equity Incentive ($) | All Other Comp ($) | Total ($) |
|---|---|---|---|---|---|
| 2022 | 454,385 | 108,066 | 260,000 | 116,291 | 938,742 |
| 2023 | 484,616 | 105,175 | 245,000 | 126,544 | 961,335 |
| 2024 | 505,004 | 131,215 | 465,000 | 129,262 | 1,230,481 |
- 2024 base salary increase: +3.1% for Mr. Bordelon .
- Perquisites include automobile, club dues (three memberships for CEO), life and disability insurance; director fees ($32,000) and a $400 director Christmas gift were included in 2024 “All Other Compensation” .
Performance Compensation
2024 annual incentive construct and outcome for CEO:
| Metric | Weight | Threshold | Target | Maximum | 2024 Actual | Payout Basis |
|---|---|---|---|---|---|---|
| Return on Average Assets (ROAA) | 30% | 0.87% | 1.02% | 1.17% | 1.08% | Included in $465,000 bonus |
| Efficiency Ratio | 10% | 69.41% | 66.10% | 62.80% | 64.71% | Included in $465,000 bonus |
| Adjusted Diluted EPS | 10% | $3.62 | $4.26 | $4.90 | $4.55 | Included in $465,000 bonus |
| Strategic Objectives – Overall (scored 0–10) | 30% | — | 5 | 10 | 10 | Included in $465,000 bonus |
| Managed Operations (scored 0–10) | 20% | — | 5 | 10 | 10 | Included in $465,000 bonus |
| Bonus as % of Base Salary | — | — | 60% | 100% | Paid $465,000 on $505,004 base | $465,000 paid |
Equity incentives:
- 2024 CEO grant: 3,500 RSUs on 5/12/2024 (grant-date fair value $131,215), vesting 20% annually over 5 years . Company indicates awarding larger cash bonus in lieu of equity awards for the CEO beginning in 2025, which reduces forward equity-based alignment for the CEO .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 197,370 shares (2.5% of outstanding as of March 24, 2025) . |
| Components disclosed | Includes 5,500 options exercisable within 60 days and 2,420 RSUs vesting within 60 days; also includes 10,000 shares held jointly with spouse, 54,693 shares in the 401(k), and 15,247 ESOP-allocated shares (voting power) . |
| Stock ownership guidelines | CEO required to hold ≥4x salary; CEO currently satisfies guideline . |
| Pledging / hedging | “Unless otherwise indicated … none of the shares are pledged”; hedging by directors/senior officers requires pre-clearance by the Board under the Insider Trading Policy . |
| Trading policy | Blackout periods around earnings; pre-clearance for directors/executives; applies to households . |
Unvested awards and vesting cadence (potential supply overhang):
- Unvested RSUs at 12/31/2024: 285 (2020), 800 (2021), 1,860 (2022), 2,800 (2023), 3,500 (2024); all vest 20% annually on each grant’s anniversary. This implies approximate annual vesting tranches of 57, 160, 372, 560, and 700 shares per grant respectively until fully vested, subject to continuity and award terms .
Outstanding equity (12/31/2024):
| Type | Grant Date | Unexercised (Unexercisable/Exercisable) | Exercise Price | Expiration | Unvested RSUs (Units) | Market Value ($) |
|---|---|---|---|---|---|---|
| Stock Options | 3/12/2020 | 240 / 960 | 21.99 | 3/12/2030 | — | — |
| Stock Options | 5/12/2021 | 300 / 1,200 | 36.77 | 5/12/2031 | — | — |
| RSUs | 3/12/2020 | — | — | — | 285 | 13,170 |
| RSUs | 5/12/2021 | — | — | — | 800 | 36,968 |
| RSUs | 5/12/2022 | — | — | — | 1,860 | 85,951 |
| RSUs | 5/12/2023 | — | — | — | 2,800 | 129,388 |
| RSUs | 5/12/2024 | — | — | — | 3,500 | 161,735 |
- All unvested options/RSUs accelerate upon death, disability, or change in control (CIC) .
Employment Terms
| Term | Key Economics / Provisions |
|---|---|
| Employment agreements | Amended and restated; CEO agreement terms expire May 20, 2027 (Board considers annual extension) . |
| Severance (no CIC) | Lump sum equal to 3x base salary; medical and other welfare benefits continued up to 36 months for CEO . |
| CIC severance | Lump sum equal to 3x (base salary + prior year’s bonus); medical and welfare benefits for 36 months; ESOP excess allocation; equity accelerates . |
| Potential payments (as of 12/31/2024) | Involuntary termination without cause: $1,593,425 total (cash $1,515,012; medical $66,861; other welfare $11,552) . With CIC and termination: $2,933,295 total (cash $2,250,012; ESOP allocation $166,182; medical $66,861; other welfare $11,552; unvested options $11,477; unvested RSUs $427,211) . |
| 280G treatment | “Best-net” approach: either full payments (executive bears excise tax) or cutback to avoid parachute payment, whichever yields better after-tax outcome . |
| Clawback | Policy amended and restated in 2023 to align with SEC/Nasdaq; applies to performance-based equity and cash incentives . |
| Salary Continuation Agreements (SERP-like) | 2007 plan: $214,000/year for 10 years at retirement; fully vested; present value $1,614,551 at 12/31/2024 . 2019 plan: $26,000/year for 10 years; fully vested; present value $214,734 at 12/31/2024 . |
Performance & Track Record
| Year | Company TSR Index (Initial $100) | Peer TSR Index (S&P US Small Cap Banks) | Net Income ($000) | ROA (%) |
|---|---|---|---|---|
| 2020 | 119 | 137 | 24,765 | 1.31 |
| 2021 | 120 | 138 | 48,621 | 1.76 |
| 2022 | 104 | 117 | 34,072 | 1.25 |
| 2023 | 135 | 140 | 40,240 | 1.23 |
| 2024 | 135 | 132 | 36,427 | 1.08 |
- 2024 incentive metrics included ROA, adjusted EPS and efficiency ratio; efficiency ratio reported at 64.71% and EPS used in the plan at $4.55 .
- Options/awards practice: grants typically in May, after public disclosure of year-end results; no timing of awards around MNPI .
Board Governance
- Dual role: CEO and Chairman since May 2020; board cites unity of vision and high regulation as mitigants; acknowledges potential conflict; independent oversight via committees .
- Board independence: majority independent; committee membership entirely independent (Audit, Compensation, Nominating) .
- Committee leadership: Audit Chair – Paul J. Blanchet (financial expert); Compensation Chair – John A. Hendry; Nominating Chair – Chris P. Rader .
- Attendance: Board met seven times in 2024; no director attended fewer than 75% of board/committee meetings .
- Stock ownership guidelines: CEO ≥4x salary; directors ≥$150,000 (or ≥6,000 shares if stock ≤$25); CEO and directors currently satisfy guidelines .
Director Compensation (Bordelon context)
- Employee-director: Mr. Bordelon’s compensation is disclosed in the executive tables; “All Other Compensation” includes director fees ($32,000) and small gifts ($400) .
- Non-employee director program (context): $22,000 annual retainer; $800 per board meeting; $550 per committee meeting; +$100 for Chair/Chairman per meeting; $400 Christmas gift; separate RSU grants (e.g., ~$22,494 grant-date value in 2024) .
Related Party Transactions and Policies
- Insider trading policy: pre-clearance, blackout periods, restricted hedging, disclosure of waivers via 8-K .
- Loans to insiders: Made on substantially the same terms as to non-affiliates; no loans to directors/executives were non-accrual, past due, restructured or potential problem at 12/31/2024 .
- Review/approval: OCC-required recusals and non-interested director approval documented in minutes .
- Section 16 compliance: Executives and directors were in compliance for 2024 .
Compensation Structure Analysis
- Pay mix trend: CEO total comp increased to $1.23 million in 2024 driven by higher cash bonus ($465,000 vs. $245,000 in 2023), while equity awards remained a minority of total .
- 2025 shift: Compensation Committee determined to award the CEO a larger cash bonus in lieu of equity awards beginning in 2025; this could reduce ongoing equity alignment and increase guaranteed/near-term cash orientation relative to prior years .
- Performance metrics: Annual bonus tied to ROAA, efficiency ratio, EPS and strategic/operational goals; these are bank-relevant, profitability/efficiency-focused KPIs .
- Clawback policy: Updated in 2023 per SEC/Nasdaq, covering performance-based cash and equity .
- 280G/cutback: “Best-net” approach avoids automatic gross-ups, which is shareholder-friendlier than legacy gross-up structures .
Equity Ownership & Alignment (Detail Table)
| Metric | Value |
|---|---|
| Shares beneficially owned | 197,370 (2.5% of 8,020,878 shares outstanding at 3/24/2025) . |
| Options exercisable within 60 days | 5,500 . |
| RSUs vesting within 60 days | 2,420 . |
| ESOP + 401(k) holdings | ESOP: 15,247 allocated; 401(k): 54,693 . |
| Pledged shares | None indicated (“unless otherwise indicated … none of the shares are pledged”) . |
Employment Terms (Detail Table)
| Scenario (as of 12/31/2024) | Cash | ESOP | Medical | Other Welfare | Unvested Options | Unvested RSUs | Total |
|---|---|---|---|---|---|---|---|
| Involuntary termination (no CIC) | $1,515,012 | — | $66,861 | $11,552 | — | — | $1,593,425 |
| With CIC and termination | $2,250,012 | $166,182 | $66,861 | $11,552 | $11,477 | $427,211 | $2,933,295 |
Salary continuation agreements (present value at 12/31/2024):
- 2007 plan (amended 2019): $214,000/year for 10 years; PV $1,614,551; fully vested .
- 2019 plan: $26,000/year for 10 years; PV $214,734; fully vested .
Investment Implications
- Alignment and retention: The CEO holds 2.5% of shares outstanding with additional ESOP/401(k) exposure, satisfies a 4x-salary ownership guideline, and has a multi-year vesting equity overhang that vests annually—factors supportive of alignment and moderate, predictable supply from vesting rather than large option exercises .
- Compensation signal: Beginning in 2025, a shift toward larger cash bonus in lieu of equity reduces forward equity-based alignment and increases the probability of near-term cash payouts; monitor any increase in cash/equity mix and discretionary adjustments versus targets .
- Risk controls: Robust clawback and insider trading policies, and no indicated pledging mitigate governance risk; “best-net” 280G treatment avoids automatic gross-ups .
- Governance trade-off: CEO/Chair combination concentrates authority; however, independent committees and majority-independent board provide structural checks; investors should weigh unity-of-vision benefits against reduced board independence at the chair role .
- Performance lens: 2024 ROA (1.08%) and efficiency ratio (64.71%) drove incentive payouts; TSR over the period tracked peers closely; continued delivery on profitability/efficiency targets remains the key pay lever and trading catalyst around bonus accruals and RSU vesting .
Notes: All data are from Home Bancorp, Inc.’s 2025 DEF 14A proxy statement unless otherwise indicated. Citations in brackets reference document and chunk indices.