Kevin Ahern
About Kevin W. Ahern
Kevin W. Ahern (62) is an independent director of Horizon Bancorp, Inc. (HBNC), appointed to the HBNC Board in January 2024 and to Horizon Bank’s board in May 2023. He is Managing Partner of Brush Creek Partners (since 2020) and a Senior Advisor to Castle Creek Capital; previously he founded and served as Chairman/CEO of CIC Bancshares and Centennial Bank until their 2016 sale to Heartland Financial USA, then served as Executive Chairman of Centennial Bank, Chairman of Citywide Banks, and Executive Vice President at Heartland Financial through 2019. His core credentials include deep banking experience across balance sheet and liquidity management, finance, accounting, and banking regulation . He is nominated for re‑election to a term ending in 2028 at the 2025 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CIC Bancshares / Centennial Bank (Denver) | Founder; Chairman & CEO | Through 2016 (acquired by Heartland Financial USA) | Built and led bank; transaction execution leading to sale |
| Centennial Bank (post-sale) | Executive Chairman | Post-2016 | Oversight post-transaction |
| Citywide Banks (Heartland member bank) | Chairman | Post-2016 | Governance leadership |
| Heartland Financial USA | Executive Vice President | Through 2019 | Senior operating/financial leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Brush Creek Partners | Managing Partner | Since 2020 | Private investment vehicle focused on specialty finance and related sectors |
| Castle Creek Capital | Senior Advisor | Current (recently joined) | Alt asset manager focused on community banks |
| Bank of Idaho Holding Company | Director | Since July 2023 | Board service (Idaho Falls, ID) |
| InBankshares, Corp (Denver) | Director | Since Nov 2020 | Board service (CO) |
| Bancorp 34, Inc. (Scottsdale) | Director | Since Jan 2023 | Board service (AZ) |
| Investment Trust Company (CO) | Chairman | Since 2020 | Independent trust company leadership |
Board Governance
- Independence: The Board determined 9 of 11 current directors are independent; only the CEO (Thomas M. Prame) and Chairman (Craig M. Dwight) are non‑independent. Ahern is independent .
- Committee assignments: 2024 committee rosters list Audit (Reed, Burnell, Dworkin, Freigang, Maass), Compensation (Williams, Blackhurst, Magnuson), and Corporate Governance & Nominating (Blackhurst, Magnuson, Williams); Ahern is not listed on these committees .
- Attendance: The Board held 10 meetings in 2024 and each director attended at least 89% of Board and assigned committee meetings; all directors attended the 2024 Annual Meeting .
- Board leadership: Blackhurst elected as independent Chair effective upon Dwight’s retirement at the 2025 meeting; Lead Independent Director role will terminate then .
Fixed Compensation
| Component | 2024 Amount (USD) |
|---|---|
| Cash Retainer | $45,009 |
| Stock Retainer (grant-date fair value) | $39,991 |
| Total | $85,000 |
- Structure: Non-employee directors receive a cash retainer of $45,000 and a retainer in common shares valued at $40,000; committee chair premiums exist ($7,500 for most, $10,000 for Audit, $15,000 for Lead Director) but Ahern is not listed as a chair. No meeting fees are paid .
Performance Compensation
| Element | Details |
|---|---|
| Performance-based components | None disclosed for directors; compensation is retainer-based in cash and common shares |
Other Directorships & Interlocks
| Company | Industry/Geography | Role | Interlock/Conflict Considerations |
|---|---|---|---|
| Bank of Idaho Holding Company | Banking; Idaho | Director | Same industry; geographically distinct from HBNC (primarily IN/MI); potential industry overlap monitored via related party oversight |
| InBankshares, Corp | Banking; Colorado | Director | Same industry; non-overlapping primary market footprint; monitor for conflicts |
| Bancorp 34, Inc. | Banking; Arizona | Director | Same industry; distinct geography; monitor for conflicts |
| Castle Creek Capital | Community bank-focused asset manager | Senior Advisor | Potential perceived conflict given sector focus; independence reviewed annually; related-party oversight led by Governance Committee |
| Investment Trust Company | Trust services | Chairman | Financial services adjacency; no related-party transactions disclosed |
Horizon’s Corporate Governance & Nominating Committee leads oversight of related party transactions and insider share transactions; members are independent . No related person transactions requiring disclosure were reported for committee members beyond ordinary-course loans on market terms .
Expertise & Qualifications
- Banking/finance: Extensive experience in bank founding, leadership, balance sheet and liquidity management, finance/accounting, and banking rules/regulations .
- Strategic/transactional: Led sale of CIC Bancshares/Centennial Bank; served in senior roles post-acquisition .
- Multi-board exposure: Active governance roles across several community banks and trust company, providing broad sector perspective .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned | 10,000 (owned directly) |
| Ownership % of shares outstanding | <1% |
| Director ownership guideline | 3x annual retainer value required |
| Compliance status | Company discloses all directors satisfy guidelines |
| Pledging/Hedging | Prohibited for directors; no waivers/exceptions granted |
Governance Assessment
- Positives: Independent status, high meeting attendance, equity retainer and ownership guidelines support alignment, and anti‑hedging/anti‑pledging policies reduce misalignment risk .
- Neutral/Watch items: Not listed on Audit, Compensation, or Corporate Governance & Nominating Committees in 2024, which may limit direct committee influence; however, nomination for re‑election signals Board confidence .
- Potential conflicts: Concurrent advisory role with Castle Creek Capital and multiple bank directorships in the same industry could create perceived interlocks; mitigation comes from annual independence assessments and formal oversight of related party transactions .
- Shareholder signals: Strong say‑on‑pay approval (96.5% in 2024) indicates broad investor support for HBNC’s compensation governance framework, though this pertains to executive pay rather than director fees .