Lora Jex
About Lora Jex
Executive Vice President and Chief Risk Officer (CRO) at HomeTrust Bancshares, Inc. since August 2023; age 45, with 20+ years of banking and financial industry experience focused on compliance and risk at institutions ranging from $3B to $30B in assets . Education is not disclosed. Company performance during her tenure (FY 2024) shows net income $54.8M, diluted EPS $3.20, ROA 1.23%, ROE 10.37%, and net interest margin 4.05% . The Company reports strong investor support for its pay program (approx. 97% “say‑on‑pay” approval in May 2024) and continued robust governance practices .
FY 2024 Company Performance
| Metric | FY 2024 |
|---|---|
| Net Income ($M) | 54.8 |
| Diluted EPS ($) | 3.20 |
| ROA (%) | 1.23 |
| ROE (%) | 10.37 |
| Net Interest Margin (%) | 4.05 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Southern First Bank (Greenville, SC) | Chief Compliance Officer | — | Led enterprise compliance; strengthened risk management disciplines |
| South State Bank (Columbia, SC) | Chief Compliance Officer | — | Oversaw regulatory compliance frameworks and controls |
| The Savannah Bancorp | Various positions | — | Built early career in banking operations and risk |
| Dixon Hughes Goodman LLP | Position not specified | — | Enhanced audit/compliance skill set |
| Crowe Chizek & Company | Position not specified | — | Developed risk and assurance capabilities |
| Troy Bank & Trust | Position not specified | — | Operational banking experience |
Years are not disclosed in the proxy; table reflects roles and impact as reported .
External Roles
- Not disclosed in the proxy for Ms. Jex .
Fixed Compensation
- Ms. Jex is not listed as a Named Executive Officer (NEO); specific base salary and bonus amounts are not disclosed in the proxy .
- Executive compensation philosophy targets market competitiveness (~50th percentile) with a mix of fixed pay and variable incentives governed by the Compensation & Human Capital Committee and independent consultant Pearl Meyer .
- Stock ownership guidelines require executive officers (other than the CEO) to hold Company stock equal to 1× base salary (CEO 3×); compliance is assessed annually, and as of Dec 31, 2024, all directors and executive officers either met or were progressing toward minimums .
Performance Compensation
The Company’s Senior Leadership Incentive Plan (SLIP) focuses executives on corporate financial performance; 2024 metrics and outcomes below. While Ms. Jex’s individual targets are not disclosed, SLIP design and results indicate pay‑for‑performance rigor.
| Corporate Performance Goal | Threshold | Target | Maximum | Actual | Payout Achievement |
|---|---|---|---|---|---|
| Pre-Tax, Pre-Provision Income ($M) | 61.9 | 72.9 | 83.8 | 79.3 | 129.4% |
| Efficiency Ratio (%) | 67.01 | 62.37 | 57.99 | 60.12 | 125.7% |
Additional program features:
- Clawbacks apply to annual incentives and equity; mandatory exchange-listed clawback policy adopted Nov 7, 2023 .
- More than half of CEO’s annual equity is performance-based; half of other executive officers’ annual equity is performance-based .
- No golden‑parachute excise tax gross‑ups; no repricing/exchanges of underwater options without shareholder approval .
Equity Ownership & Alignment
| Policy/Practice | Detail |
|---|---|
| Stock Ownership Guidelines | Executives: 1× base salary; CEO: 3×; Directors: 5× annual retainer; annual compliance assessment. As of Dec 31, 2024, all directors/executives either met or were progressing toward minimums . |
| Anti‑Hedging/Pledging | Executives and directors prohibited from hedging and pledging HTB securities; no short sales; margin accounts prohibited . |
| Beneficial Ownership | Individual share ownership for Ms. Jex is not disclosed in the proxy’s beneficial ownership tables (which list directors and NEOs) . |
| Employee Equity Vesting | Employee restricted stock awards vest over 5 years; PSUs vest over 3 years if financial goals are met; director awards vest over 1 year . |
| Options Vesting | Options originally scheduled to vest over 5 years; remaining non‑vested options outstanding company‑wide reflect standard vesting cadence . |
Company Equity Award Activity (Context)
| Category | Dec 31, 2023 | Granted | Vested | Forfeited | Sep 30, 2024 | Dec 31, 2024 | Granted | Vested | Forfeited | Sep 30, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Awards (shares) | 106,143 | 73,502 | (36,639) | (2,211) | 140,795 | 138,582 | 60,329 | (50,326) | (3,621) | 144,964 |
| Performance RSUs (shares) | 25,001 | 17,690 | (10,683) | (501) | 31,507 | 30,001 | 15,444 | (9,996) | (4,108) | 31,341 |
Vesting schedules and award activity provide context for potential retention incentives; they are not individualized to Ms. Jex .
Employment Terms
| Agreement/Policy | Status | Key Terms / Notes |
|---|---|---|
| Change-in-Control Severance Agreement | Executed | A “Change in Control Severance Agreement between HomeTrust Bancshares, Inc. and Lora Jex” is listed in Item 6 Exhibits (10.18); the agreement exists, but specific economics are not summarized in the proxy/10‑Q exhibits list . |
| Incentive Clawbacks | In place | Annual incentives and equity awards subject to clawback; mandatory exchange-listed policy adopted Nov 7, 2023 . |
| Insider Trading Policy | In place | Insider trading policy filed as exhibit to FY 2024 10‑K; governs directors, officers, and employees . |
| Equity Plan | In place | 2022 Omnibus Incentive Plan (approved Nov 14, 2022) governs stock options, restricted stock/RSUs, performance shares/units; up to 1,000,000 shares authorized . |
| Ownership Guidelines | Required | Executives 1× salary; retention rules/limits on sales until compliant; Board discretion on enforcement . |
| Hedging/Pledging | Prohibited | No hedging or pledging Company stock by executives/directors . |
| Severance Features (Company Practice) | Policy baseline | Company highlights “double‑trigger” for NEOs (severance only if change in control AND qualifying termination); no excise tax gross‑ups . Ms. Jex’s specific agreement terms are not described in the proxy. |
Governance Interface with CRO Role
- Executive and Risk Committee oversees enterprise risk management; receives quarterly updates from the Chief Risk Officer on major risk exposures, risk data aggregation/model governance, and information security program status .
- Board leadership structure separates CEO and Chair roles; risk oversight is integrated and cross‑committee (Audit, Compensation, Asset/Liability) .
Compensation Peer Group (Benchmarking context)
- Peer group used by Pearl Meyer for NEO benchmarking includes community banks in $3.1B–$9.2B assets (e.g., Capital City Bank Group, City Holding Company, German American Bancorp, Stock Yards Bancorp, Southern First Bancshares, Univest Financial, etc.) .
Say‑on‑Pay & Shareholder Feedback
- May 2024 “say on pay” approval approx. 97% .
- May 19, 2025 Annual Meeting vote counts on executive compensation: For 11,482,701; Against 357,695; Abstentions 101,541; Broker Non‑Votes 3,256,228 .
Risk Indicators & Red Flags
- Hedging and pledging are prohibited (reduces misalignment risks) .
- No option repricing or exchanges without shareholder approval .
- Robust clawbacks on incentives/equity .
- Change‑in‑control agreements emphasize double‑trigger for NEOs; Ms. Jex has a CIC severance agreement (terms not disclosed) .
Investment Implications
- Alignment: Ownership guidelines (1× salary for executives), hedging/pledging bans, and clawbacks point to strong alignment and downside protection; for CRO, formal reporting into the Board’s risk architecture reinforces governance rigor .
- Retention: Five‑year time‑based vesting on restricted stock and three‑year performance RSUs support multi‑year retention; presence of a CIC severance agreement for Ms. Jex reduces near‑term transition risk in strategic events .
- Performance linkage: Corporate SLIP metrics (pre‑tax, pre‑provision income and efficiency ratio) exceeded targets in FY 2024, indicating a pay‑for‑performance construct that should reward execution—beneficial for talent stability and morale .
- Monitoring needs: Ms. Jex’s individual compensation amounts, equity holdings, and any insider trades are not disclosed in the proxy/10‑Q materials; investors should monitor future proxy statements and Form 4 filings for selling pressure signals and ownership trajectory. The strong “say‑on‑pay” outcomes (2024 and 2025) de‑risk governance controversies in the near term .