Timothy W. Wilhite, Esq.
About Timothy W. Wilhite, Esq.
Independent director of Home Federal Bancorp, Inc. of Louisiana (HFBL), age 56 as of September 26, 2025, serving on the board since 2010. He is CFO/General Counsel of Wilhite Electric Co., Inc. (since June 2001) and remains Of Counsel at Downer, Jones, Marino & Wilhite, bringing legal and local business expertise to HFBL’s board . The board classifies Wilhite as independent under Nasdaq rules, and all directors attended the November 20, 2024 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wilhite Electric Co., Inc. | CFO/General Counsel | Since June 2001 → present | Legal and financial oversight; local business community insight |
| Downer, Jones, Marino & Wilhite | Of Counsel | Ongoing | Legal expertise supporting governance |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Greater Bossier Economic Development Foundation (GBEDF) | Executive Committee & Board Member | Ongoing | Regional economic development influence |
| Bossier Industrial Park Committee | Co-Chair | Ongoing | Industrial development oversight |
| Ark‑La‑Tex Regional Air Service Alliance (RASA), a 501(c)(4) | President | Ongoing | Regional air service advocacy |
| Raffles, Ltd. (captive insurance program) | Executive Board | Ongoing | Insurance governance experience |
Board Governance
| Committee | FY 2024 Role | FY 2025 Role |
|---|---|---|
| Audit | Member | Member |
| Compensation | Member | Member |
| Nominating & Corporate Governance | Chair | Chair |
- Independence: The board determined Wilhite is independent under Nasdaq rules .
- Attendance: Board met 10 times in FY 2024 and FY 2025; no director fell below 75% attendance except Dr. Colquitt in FY 2024 and Dr. Trawick in FY 2025 (implies Wilhite ≥75%) .
- Committee cadence: FY 2025—Audit met 6 times; Compensation met 6; Nominating & Corporate Governance met once .
- Leadership structure: CEO also serves as Board Chair; board cites regulatory safeguards but acknowledges potential conflicts inherent in combined roles .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $25,800 | $25,950 |
| Total Director Compensation ($) | $25,800 | $42,200 |
- Board meeting fee increased from $2,400 per regular meeting to $2,900 starting July 2025; committee fees remained $150 per meeting (Audit, Compensation, ALCO/Executive) .
Performance Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Option Awards ($) | $0 | $16,250 |
| Stock Awards ($) | $0 | $0 |
| Outstanding Option Awards (number) | 18,000 | 23,000 |
| Outstanding Stock Awards (number) | 1,600 | 800 |
| Vesting schedule (grants 11/11/2020) | 20% per year; fully vest 11/11/2025 | 20% per year; fully vest 11/11/2025 |
- 2025 Stock Incentive Plan adds potential performance share awards with defined financial and operational metrics (e.g., net income, ROE, asset quality, share price), administered by a committee that “currently is comprised of Messrs. Harrison, Humphrey and Wilhite” (HFBL Compensation Committee) .
Expertise & Qualifications
- Legal and corporate governance expertise (General Counsel; Of Counsel), aligned with chair role on Nominating & Corporate Governance .
- Financial oversight experience (CFO) beneficial to Audit and Compensation committee responsibilities .
- Deep regional economic and civic engagement (GBEDF, RASA, industrial park, captive insurance) supports stakeholder and regulatory awareness .
Equity Ownership
| Metric | Sept 23, 2024 | Sept 26, 2025 |
|---|---|---|
| Beneficial Ownership (shares) | 51,496 | 56,896 |
| Percent of Common Stock (%) | 1.6% | 1.8% |
| Options exercisable within 60 days (number) | 14,400 | 19,000 |
| Stock awards vesting within 60 days (number) | 800 | 800 |
| Shares held jointly with spouse (shares) | 36,296 | 36,296 |
| Pledged shares | None indicated for Wilhite | None indicated for Wilhite |
- Insider trading policy restricts hedging and requires pre‑clearance by the board; blackout periods apply around earnings releases .
Governance Assessment
- Strengths: Independent director with legal and CFO credentials; chairs Nominating & Corporate Governance; consistent committee engagement; tangible ownership (~1.8% of shares) supporting alignment; all directors attended 2024 annual meeting .
- Watch items / RED FLAGS:
- Audit Committee has no SEC‑defined “financial expert” (though members meet Nasdaq standards); Wilhite’s Audit membership occurs within this context .
- Combined CEO/Chair structure increases potential conflicts despite cited safeguards .
- Director option awards resumed/increased in FY 2025 versus FY 2024 (shift toward equity); investors should monitor any changes to equity grant cadence and plan administration for independence perceptions –.
- Related‑party exposure: HFBL permits ordinary‑course credit extensions to directors/officers/families at market terms; no unfavorable features or specific Wilhite‑linked transactions disclosed .