Kristin Y. Powell
About Kristin Y. Powell
Kristin Y. Powell (age 48) is Executive Vice President, Consumer and Business Banking Group Executive at HomeTrust Bancshares (HTB). She joined HTB in July 2015, led Residential Mortgage Lending (2015–2020), then served as EVP, Consumer Banking (2020–2022), and was promoted to EVP, Consumer and Business Banking in July 2022, overseeing Mortgage, Retail, Business Banking and Professional Investment Bank services . Company performance during FY 2024 included net income of $54.8 million (up from $50.0 million), diluted EPS of $3.20, ROAA of 1.23%, and cumulative TSR outperformance versus the S&P US BMI Bank Index (HTB $210.50 vs Index $191.16 on a $100 basis) — and Powell’s FY 2024 incentive payout was 53% of base salary, with a 150% achievement on her division profitability component .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| HomeTrust Bancshares/Bank | Director of Residential Mortgage Lending | Jul 2015 – May 2020 | Led residential mortgage lending |
| HomeTrust Bancshares/Bank | EVP, Consumer Banking Group Executive | Jun 2020 – Jun 2022 | Directed consumer banking strategy |
| HomeTrust Bancshares/Bank | EVP, Consumer and Business Banking Group Executive | Jul 2022 – Present | Provides direction and leadership for Mortgage, Retail, Business Banking and Professional Investment Bank services |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PNC | Senior leadership and strategic positions | Over 13 years | Senior leadership across the Southeast; broad banking and financial services experience |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | TP 2023 (6 months) | FY 2024 |
|---|---|---|---|---|
| Base Salary ($) | $262,308 | $284,231 | $145,131 | $302,123 |
| Bonus ($) | — | — | — | — |
| All Other Compensation ($) | $21,055 | $20,593 | $15,963 | $26,145 |
| Total Compensation ($) | $468,431 | $561,214 | $237,709 | $614,001 |
All Other Compensation components include, among others: life insurance premiums, reimbursement for long-term disability premiums, employer 401(k) contributions, KSOP ESOP allocations, and dividends on unvested restricted stock; itemization is provided for FY 2022, FY 2023, and TP 2023 in the proxy .
Performance Compensation
| Program/Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Senior Leadership Incentive Plan – Division profitability vs plan (Consumer & Business Banking) | 25% | Per annual plan | 150% of component | Part of total 53% of base ($168,356) | Cash, FY 2024 |
| Senior Leadership Incentive Plan – Overall FY 2024 payout | — | Target 40% of base | Actual 53% of base | $168,356 | Cash, FY 2024 |
| 2024 PSUs granted 2/11/2024 – Company PTPP income/avg assets vs peer index over 3 years | — | 2,206 target shares | Performance window FY 2024–FY 2026 | 25–150% of target (35th–70th percentile) | Earned/vest at end of 3-year period |
| 2024 Time-Based Restricted Stock granted 2/11/2024 | — | 2,210 shares | — | Grant-date fair value $58,742 | Vest in 5 equal annual installments starting 1st anniversary of grant date |
Grants of Plan-Based Awards (FY 2024):
| Award Type | Grant Date | Threshold | Target | Maximum |
|---|---|---|---|---|
| Non-Equity Incentive (Cash) | 2/15/2024 | $63,000 | $126,000 | $189,000 |
| Equity Incentive (PSUs) | 2/11/2024 | 552 shares | 2,206 shares | 3,309 shares |
| Time-Based Restricted Stock | 2/11/2024 | — | 2,210 shares | — |
Option Exercises and Stock Vested (FY 2024):
| Metric | FY 2024 |
|---|---|
| Options exercised (# / $) | — / — |
| Stock vested (# / $) | 1,737 / $46,169 |
Equity Ownership & Alignment
Beneficial Ownership (as of March 20, 2025):
| Shares Beneficially Owned | Percent of Class | KSOP Shares | Options Currently Exercisable or Exercisable within 60 days |
|---|---|---|---|
| 28,558 | 0.16% | 3,672 | 11,100 |
Outstanding Equity Awards (as of December 31, 2024):
-
Stock Options | Exercisable | Unexercisable | Exercise Price | Expiration | |---:|---:|---:|---| | 2,000 | — | $17.35 | 2/11/2026 | | 1,000 | — | $24.95 | 2/11/2027 | | 5,000 | — | $26.00 | 2/11/2028 | | 1,200 | 800 | $22.92 | 2/11/2031 | | 1,000 | 1,500 | $31.35 | 2/11/2032 |
-
Unvested Stock/Units and Market Values | Award Type | Unvested Shares/Units | Market Value ($) | |---|---:|---:| | Performance-based RSUs (prior grant) | 2,181 | $73,456 | | PSUs granted 2/11/2024 | 2,206 | $74,298 | | Time-based restricted stock (various grants) | 200 | $6,736 | | Time-based restricted stock (various grants) | 800 | $26,944 | | Time-based restricted stock (various grants) | 1,500 | $50,520 | | Time-based restricted stock (various grants) | 1,748 | $58,873 | | Time-based restricted stock granted 2/11/2024 | 2,210 | $74,433 |
Ownership Policies:
- Stock ownership guideline for executive officers: at least 1× base salary; compliance assessed annually; as of December 31, 2024 all directors and executive officers either satisfied or were progressing toward minimums .
- Anti-hedging and pledging: hedging, short sales, and pledging of company securities are prohibited ; reiterated in best-practice approaches .
Employment Terms
Change-in-Control Severance Agreement (double-trigger):
| Scenario | PTO ($) | Life Insurance Benefit ($) | Accelerated Vesting Value ($) | Cash Compensation Multiple / Amount ($) |
|---|---|---|---|---|
| Change in control (no termination) | — | — | $377,363 | — |
| Involuntary termination within 12 months following change in control | $10,146 | — | $377,363 | 200% of Cash Compensation = $1,015,410 |
| Death | $10,146 | $500,000 | $377,363 | — |
| Disability | $10,146 | — | $377,363 | — |
- All unvested stock options and restricted stock awards vest upon a change in control; PSUs may be deemed earned using a prorated performance goal for the shortened period (without proration of the number of performance shares); similar vesting upon death or disability .
- Clawback: Annual incentives and equity awards subject to clawback upon financial restatement; mandatory exchange-listing clawback policy adopted November 7, 2023 .
- No golden-parachute excise tax gross-ups; no option repricing without shareholder approval .
Say-on-Pay & Shareholder Feedback
- Say-on-pay approval at the May 2024 annual meeting was approximately 97%; company holds say-on-pay annually and investor engagement is ongoing .
- Frequency vote in May 2024 favored annual say-on-pay; next frequency vote will be held in 2030 .
Compensation Structure Analysis
- FY 2024 incentive design maintained pay-for-performance; Powell’s target incentive 40% of base and actual payout 53% showed linkage to plan outcomes, with outperformance (150% achievement) on her division profitability component (25% weight) .
- Equity mix: Half of annual equity awards for non-CEO executive officers are performance-based; RSUs include a 3-year PSU tied to PTPP/avg assets vs peers and time-based restricted stock vesting over 5 years, balancing retention and performance alignment .
- Governance: No hedging/pledging, no excise tax gross-ups, double-trigger severance; stock ownership guidelines at 1× salary for executives with enforced holding requirements if below target .
Risk Indicators & Red Flags
- Insider selling pressure: Options currently exercisable within 60 days total 11,100 shares; multiple option tranches expire 2026–2032, plus ongoing annual vesting of time-based restricted stock, potentially creating periodic liquidity windows .
- Positive governance signals: High say-on-pay approval (97%); no hedging/pledging; double-trigger severance; no tax gross-ups; no repricing of underwater options .
- Clawback mechanisms reduce risk of misaligned payouts .
- No specific related-party transactions or legal proceedings disclosed for Powell in the proxy sections cited.
Investment Implications
- Strong alignment: Powell’s incentive outcomes reflect divisional performance (150% on profitability component) and overall corporate improvement; equity grants combine multi-year PSUs tied to peer-relative PTPP/avg assets with five-year time-based vesting to balance retention and performance .
- Limited governance risk: Prohibitions on hedging/pledging, high say-on-pay support, ownership guidelines, and double-trigger severance reduce misalignment and change-of-control windfall risk; no tax gross-ups and no option repricing are shareholder-friendly .
- Monitoring points: Track PSU performance through FY 2026 versus peer index; watch option exercisability and scheduled restricted stock vesting for potential selling pressure; confirm ongoing compliance with stock ownership guidelines .