Mark C. Herpin
Senior Executive Vice President and Chief Operations Officer at HBCP
Executive
About Mark C. Herpin
Senior Executive Vice President and Chief Operations Officer at Home Bancorp, Inc. (HBCP) since May 30, 2024; age 56; previously held senior data/technology leadership roles at First Horizon/IBERIABANK . Education and credentials: MBA (University of Louisiana at Lafayette), BS (LSU); CPA, CITP, CGMA, Lean Six Sigma Black Belt . His 2024 incentive design ties pay to profitability and operating efficiency—ROAA, efficiency ratio, and operations KPIs; company achieved ROAA 1.08% and efficiency ratio 64.71% in 2024, with net income of $36.4 million and TSR index at 135 vs base 100, anchoring pay-for-performance alignment .
Past Roles
| Organization | Role | Dates | Strategic Impact |
|---|---|---|---|
| First Horizon (IBERIABANK) | SVP, Director of Strategic Data Solutions | Aug 2023 – Jun 2024 | Led data strategy and analytics initiatives |
| First Horizon (IBERIABANK) | SVP, Deputy Chief Information Officer | Jul 2022 – Aug 2023 | Oversight of enterprise technology implementation & support |
| First Horizon (IBERIABANK) | SVP, Director of Enterprise Data Management | Jul 2020 – Jul 2022 | Built data governance and management framework |
| First Horizon (IBERIABANK) | SVP, Director of Business Intelligence | Dec 2012 – Jul 2020 | Business intelligence; analytics-driven decision support |
| IBERIABANK | Financial Planning Manager | (prior to 2012; dates not specified) | Financial planning, M&A support |
External Roles
| Organization | Role | Dates | Notes |
|---|---|---|---|
| Episcopal School of Acadiana | Board Chair | Current | Governance leadership |
| Legatus (Lafayette-Acadiana Chapter) | Board Member | Current | Community engagement |
| United Way of Acadiana | Board Member | Past | Community service |
| Acadiana Chapter of LCPAs | Board Member | Past | Professional leadership |
| Chitimacha Louisiana Open | Board Member | Past | Community involvement |
Fixed Compensation
| Component | 2024 | Notes |
|---|---|---|
| Base Salary | $275,000 | Set at hiring, May 30, 2024 |
| Target Bonus % | 30% of base ($82,500) | Design includes threshold/target/max |
| Maximum Bonus % | 50% of base ($137,500) | 2024 matrix-defined cap |
| Actual Bonus Paid | $104,500 | Represents ~38% of base, above target (derived from cited figures) |
Performance Compensation
| Metric | Weight | Threshold | Target | Actual | Payout Context |
|---|---|---|---|---|---|
| Return on Average Assets (ROAA) | 50% | 0.87% | 1.02% | 1.08% | Above target; drives majority of bonus |
| Efficiency Ratio | 25% | 69.41% | 66.10% | 64.71% | Better than target (lower is better) |
| Operations Management (Score) | 15% | 2.00 | 2.40 | 2.40 | At target |
| Operations Strategic Objectives (Score) | 10% | — | 5 | 7 | Above target |
| Total 2024 Bonus Outcome | — | — | $82,500 | $104,500 | Overall outcome between target and max; ~38% of base (derived from cited figures) |
Equity Ownership & Alignment
| Instrument | Quantity | Fair/Market Value | Vesting | Notes |
|---|---|---|---|---|
| RSUs (2021 Plan grant on 6/12/2024) | 2,000 | $76,200 grant-date fair value; $92,420 market at 12/31/2024 | 20% per year over five years; vests on grant anniversary | Five-year vesting supports retention |
| Stock Options | None | — | — | No options outstanding |
| Ownership Guidelines | N/A to COO | — | — | Company guidelines cover CEO (4x salary) and non-employee directors; not disclosed for other executives |
| Hedging/Pledging | Hedging requires Board pre-clearance; trading blackout windows apply | — | — | Insider Trading Policy restricts hedging; pledging not disclosed |
Vesting schedule for 2024 RSUs (subject to service): approximately 400 RSUs each on 6/12/2025, 6/12/2026, 6/12/2027, 6/12/2028, 6/12/2029 (20% tranches) .
Employment Terms
| Topic | Details | Citations |
|---|---|---|
| Employment start/date | Appointed Senior EVP & COO effective May 30, 2024; base salary $275,000 | |
| Employment agreement | Not disclosed for Herpin; Bank has employment agreements with certain other executives (CEO, CRO, CFO); terms extended in May 2024 | |
| Executive officer election | Officers elected annually; serve until successor election/removal | |
| Severance (non-CoC) | No cash severance or benefits shown for Herpin in potential payments table | |
| Change-of-control (CoC) | Unvested RSUs fully vest upon change in control (single trigger for equity vesting); Herpin RSU value $92,420 at 12/31/2024 | |
| Death/Disability | Unvested RSUs fully vest upon death or disability | |
| Clawback policy | Amended/restated in 2023 to comply with SEC/Nasdaq; applies to performance-based equity and cash incentives | |
| Related party transactions | None involving Herpin under Item 404(a) at appointment |
Investment Implications
- Strong pay-for-performance linkage: 85% of Herpin’s bonus tied to ROAA and efficiency ratio, with company performance exceeding targets in 2024; outcome at ~38% of base signals disciplined profitability focus and operational execution .
- Retention incentives: Five-year RSU vesting (20% annually) and single-trigger CoC vesting create meaningful unvested equity balance ($92.4k at YE2024), supporting retention yet also implying potential vest-driven selling pressure around tranche dates and constrained trading windows due to blackout periods .
- Alignment and governance: No disclosed individual employment agreement or severance for Herpin reduces entrenchment risk; clawback coverage on equity and cash incentives adds downside governance protection; hedging requires Board pre-clearance, mitigating misalignment risks .
- Execution track record: Deep data/technology background (CIO-deputy, data management/BI leadership) positions Herpin to drive efficiency and analytics-led operations—consistent with his bonus metrics and with HBCP’s ROAA and efficiency achievements in 2024 .
- Event risk: Single-trigger RSU acceleration on change-in-control increases realized compensation in a sale scenario; with no cash severance, economic exposure is primarily equity-based ($92.4k at YE2024), moderating parachute concerns versus peers .
Company-level performance context: 2024 net income $36,427k; TSR index 135; ROAA 1.08%; efficiency ratio 64.71%—the same measures anchoring Herpin’s incentive plan .