Russell Carter III

About Russell D. Carter III

Russell D. Carter III, age 49, is an Executive Officer of Home BancShares (HOMB) and a Regional President at Centennial Bank. He has served as Executive Officer since January 2018 and Regional President since 2013; he chairs Centennial’s North Arkansas regional board and sits on the bank’s Executive Loan and Executive Risk Committees . Carter holds a JD with honors (UALR Bowen School of Law), a B.S. in Finance (Arkansas State University), and is an alumnus of the Graduate School of Banking at LSU; he previously served in the Arkansas House of Representatives (2009–2015) and as Speaker (2013–2015), and was appointed to the Federal Reserve Bank Memphis Branch board in 2019 . Company context: HOMB reported record 2024 results with total revenue of $1.02B, net income of $402.2M, and EPS of $2.01, and highlighted multi-year Forbes “Best Banks” recognition, indicating a strong operating backdrop for executive performance .

Past Roles

External Roles

Fixed Compensation

• HOMB’s 2025 proxy discloses detailed compensation for named executive officers (NEOs); Carter is not listed as an NEO, and his base salary or fixed pay elements are not disclosed. Therefore, specific fixed compensation for Carter is not available in public proxy materials .

Performance Compensation

• HOMB’s Executive Incentive Plan (EIP) applies to NEOs and is based on absolute and peer-relative financial metrics (ROAA, ROTCE, efficiency ratio, net charge-off ratio, net interest margin) with defined weightings and target levels; 2024 targets were met, producing full payouts for NEOs. The plan includes a 3-year deferred component and clawback provisions . Carter’s eligibility and actual awards under the EIP are not disclosed as he is not a named executive officer in the proxy .

Equity Ownership & Alignment

• Total beneficial ownership for Carter is not individually disclosed in the 2025 proxy’s principal shareholders table (which lists directors and NEOs). As an officer, Carter is subject to HOMB’s Insider Trading Policy and the company’s discouragement of derivative hedging (puts/calls). The company highlights clawback policies across cash and equity programs consistent with NYSE rules .
• Pledging: Proxy footnotes identify pledged shares for certain insiders (e.g., Kevin D. Hester: 98,246 shares; J. Pat Hickman: 100,000 shares), but there is no pledging disclosure for Carter .

Employment Terms

• Employment agreements are disclosed for the Chairman/CEO (John W. Allison) and a retirement advisory agreement for Tracy M. French; the company states it does not have employment agreements with other named executive officers. No employment agreement, severance, or change-in-control terms are disclosed for Carter in the proxy .
• Company-wide clawback policy applies to incentive programs, and Insider Trading Policy governs officer trading behavior .

Investment Implications

• Alignment: Carter’s governance footprint (Executive Loan and Executive Risk Committees; regional board chair; FRB Memphis Branch board) suggests deep involvement in credit, risk, and market oversight, aligning his responsibilities with bank performance drivers .
• Disclosure gap: Absence of individualized compensation and ownership detail for Carter limits granular pay-for-performance analysis and visibility into selling/pledging pressure; focus should remain on company-wide policies (clawbacks, hedging discouragement) and overall performance context .
• Governance backdrop: Compensation Committee is independent, uses bank peer groups ($10–$50B assets) for incentive design, and achieved strong say-on-pay support (93.1%) in 2024—supportive of disciplined pay structures even if Carter-specific terms are not disclosed .
• Red flags check: Proxy reports Section 16 filing delays for two insiders (Davis, Allison) but does not list Carter; no related party transactions or pledging flagged for Carter. Continue monitoring Forms 3/4/5 for Carter to assess ownership changes and potential selling pressure .