Rhett Huddle
About William “Rhett” G. Huddle
Independent Class III director since 2018; age 69 in the 2025 proxy. Former Chairman & CEO of Columbus First Bank (2007–2018) and earlier bank executive/director roles in Columbus (1986–2004). Education: Princeton University (undergraduate) and The Ohio State University Moritz College of Law; practiced at Baker & Hostetler for five years. Serves on LCNB National Bank’s Trust and Loan Committees; term expires in 2026.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Columbus First Bank | Lead organizer; Chairman & CEO | 2007–Jun 2018 | Grew a Columbus-focused community bank; experience integrated into LCNB post-merger |
| Various Columbus banks | Executive officer/director | 1986–2004 | Regional banking leadership and governance |
| Baker & Hostetler | Associate attorney | ~5 years | Legal practice, commercial matters |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Not disclosed | — | — | No other public company directorships disclosed in LCNB proxies for Huddle. |
Board Governance
- Independence: Board annually evaluates independence; Huddle is independent under Nasdaq rules (2023–2024 independence lists exclude Meilstrup, Kaufman—and in 2024 Bedinghaus—but not Huddle).
- Committee assignments: Member, Trust and Loan Committees of LCNB National Bank. Not disclosed as Audit/Comp/Nominating member or chair.
- Attendance: In 2024 the Board met 6 times; all directors attended at least 95% of Board and committee meetings; all but one attended the annual meeting (company-wide disclosure).
- Class/Term: Class III director; current term runs to 2026 (2025 proxy).
- Audit oversight context: Audit Committee chaired by Craig M. Johnson; report confirms auditor independence and recommendations (Huddle not listed on Audit Committee).
Fixed Compensation
LCNB Corp directors receive no fees at the holding company level; compensation is paid for service on LCNB National Bank’s board and committees, plus an equity grant.
| Metric | 2021 | 2022 | 2024 |
|---|---|---|---|
| Base cash retainer ($) | $30,000 | $30,000 | $30,000 |
| Committee fees ($) | $5,280 | $8,500 | $8,840 |
| Equity grant ($) | $3,000 | $10,000 | $17,000 |
| Total ($) | $38,280 | $48,500 | $55,840 |
Additional fee schedule context (applies company-wide): Trust ($6,240), Audit ($2,600), Compensation ($2,080), Nominating ($2,080), Loan ($2,600), Technology ($6,240) retainers; Audit Chair ($5,000), Compensation Chair ($3,500), Nominating Chair ($2,500); Board Chair retainer $46,250.
Performance Compensation
- No director bonus or performance-linked pay disclosed during Huddle’s tenure; 2025 proxy notes no options outstanding or available since Dec 31, 2024.
| Performance-linked element | 2021 | 2022 | 2024 |
|---|---|---|---|
| Bonus/NEIP (%) | None disclosed | None disclosed | None disclosed |
| Stock options | None outstanding | None outstanding | None outstanding |
| Performance metrics (TSR, EBITDA, etc.) | Not disclosed | Not disclosed | Not disclosed |
Note: Prior to Huddle’s tenure, LCNB directors participated in a non‑equity incentive plan (~9.5% of base+committee fees in 2014–2016), but this practice is not disclosed in recent years.
Other Directorships & Interlocks
| Company | Role | Potential Interlock |
|---|---|---|
| None disclosed | — | No interlocks with competitors/suppliers/customers disclosed. |
Expertise & Qualifications
- Banking leadership: Founder/CEO of Columbus First Bank; decades of executive and director experience in Columbus banking.
- Legal training: Princeton; OSU Moritz College of Law; five years at Baker & Hostetler.
- Committee expertise: Trust and Loan (credit, fiduciary oversight).
Equity Ownership
As of Dec 31, 2022 (latest director-by-director table disclosed):
| Holder | Shares Beneficially Owned | % of Outstanding | Of which held by spouse |
|---|---|---|---|
| William G. Huddle | 166,927 | 1.48% | 19,930 |
- Group ownership: All directors/officers (16 persons): 645,804 shares (5.75%).
Governance Assessment
- Alignment: Material personal stake (1.48% ownership; includes spouse holdings) supports investor alignment.
- Independence and attendance: Independent status affirmed and strong meeting participation company‑wide (≥95% in 2024), supporting board effectiveness.
- Committee fit: Service on Trust and Loan aligns with his credit and fiduciary expertise; absence from Audit/Comp reduces direct influence over financial reporting and pay design.
- Compensation mix: Conservative cash retainers with modest, time‑based equity grants ($10k in 2022; $17k in 2024) indicate low risk of pay‑for‑performance distortions at the director level.
- Conflicts/related parties: 2018 appointment 8‑K states Huddle is not party to related‑party transactions requiring Item 404(a) disclosure; LCNB has a board review process for related‑party matters (2021 proxy example pertains to another director’s law firm).
RED FLAGS: None identified specific to Huddle—no pledging/hedging, no related‑party transactions under Item 404(a), no options or repricings disclosed.