Albert J. Evans
About Albert J. Evans
Albert J. Evans (age 58) has served as an independent director of Mid Penn Bancorp, Inc. since 2023 and is currently a Class A director with a term through 2026. He is President of the law firm Fanelli, Evans & Patel, P.C., licensed in Pennsylvania and New Jersey, and holds a BA from Colby College and a JD from Widener University School of Law. Evans is recognized for complex litigation expertise, is a member of the Million Dollar Advocates Forum, and was selected as a Pennsylvania Super Lawyer from 2019–2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fanelli, Evans & Patel, P.C. | President | Not disclosed | Complex litigation experience; corporate legal and acquisitions counsel |
| Pennsylvania Trial Lawyers Association | Board Member | Not disclosed | Legal industry governance engagement |
| Pennsylvania Bar Association | Delegate (past appointment) | Not disclosed | Professional standards engagement |
| Schuylkill County Bar Association | Past President | Not disclosed | Local bar leadership |
| Riverview Financial | Board Service (prior) | Not disclosed | Banking governance experience |
| Union Bank and Trust Company | Board Service (prior) | Not disclosed | Banking governance experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Schuylkill YMCA | Board Member | Not disclosed | Community engagement |
| Schuylkill Haven Island Committee | Board Member | Not disclosed | Community engagement |
| The Walk-In-Art Center | Board Member | Not disclosed | Community engagement |
Board Governance
- Independence: Evans is an independent director under Nasdaq standards; the Board has 11 of 12 independent directors, with only the CEO non-independent .
- Current Committees: Audit (member), Compensation (member). He is not listed as chair/vice chair or audit financial expert in the committee matrix .
- Attendance: All directors attended the 2024 Annual Meeting; each director attended at least 85% of Board and applicable committee meetings (Board held 14 meetings; independent directors met once) .
- Executive Sessions: Independent directors met in executive session in October 2024 .
- Lead Independent Director: John E. Noone .
Committee Membership (current)
| Committee | Role | Meetings Held (2024) |
|---|---|---|
| Audit | Member | 7 |
| Compensation | Member | 7 |
Fixed Compensation
Director cash compensation structure and Evans’s 2024 totals:
- Standard annual Board fee: $55,000; committee chairs: +$7,500; vice chairs: +$2,500; Lead Independent Director: $87,500. Advisory Board meeting fees apply to Bank Regional Business Development Advisory Boards .
- Evans attended three Northern Region Business Development Advisory Board meetings, earning $3,000 .
2024 Director Compensation – Evans
| Component | Amount ($) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | 65,500 | Includes $3,000 Advisory Board fees |
| Stock Awards | 20,020 | 999 restricted shares granted 4/1/2024 at $20.04/share |
| All Other Compensation | 4,112 | Lump sum from Director Retirement Plan termination |
| Total | 89,632 | Sum of components |
Performance Compensation
Director equity awards are service-vesting (no performance metrics disclosed for directors):
| Grant Date | Instrument | Shares | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| 2024-04-01 | Restricted Stock | 999 | 20,020 | One-year vesting restriction |
Notes:
- 2024 non-employee director grants carried a one-year service vest; no PSUs or option awards were disclosed for directors .
- Awards under the 2023 Omnibus Stock Incentive Plan are subject to the Corporation’s Clawback Policy; the plan authorizes multiple award types and up to 350,000 shares in aggregate .
Other Directorships & Interlocks
| Company | Role | Status | Potential Interlock/Conflict Mention |
|---|---|---|---|
| Riverview Financial | Director (prior) | Not disclosed | None disclosed |
| Union Bank and Trust Company | Director (prior) | Not disclosed | None disclosed |
No related-party transactions involving Evans were disclosed; the related-party section describes leases with an entity affiliated with Director Noone and employment of Director Kiefer’s brother, but none for Evans .
Expertise & Qualifications
- Legal/regulatory: Licensed attorney (PA, NJ); complex litigation; corporate legal matters and acquisition transactions; Million Dollar Advocates Forum; Pennsylvania Super Lawyer 2019–2024 .
- Education: BA (Colby College); JD (Widener University School of Law) .
- Community: Multiple nonprofit board roles indicating local engagement and stakeholder sensitivity .
Equity Ownership
As of March 3, 2025:
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Albert J. Evans | 37,352 | * | Includes 1,243 shares held in name of Frontier Trust FSB trustee for Fanelli, Evans & Patel P.C. and 999 restricted shares; “*” indicates <1% of class |
Additional Board ownership context:
- Board ownership policy: Directors seeking re-election must meet minimum beneficial ownership value thresholds tied to term (2nd term: $75,000; 3rd: $150,000; 4th: $225,000; 5th: $300,000), computed using the greater of stock price or tangible book value at the month-end prior to nomination .
- Anti-hedging: Directors prohibited from short-selling or derivative transactions in MPB securities (except plan-issued securities); pre-clearance and blackout periods apply under the Insider Trading Policy .
Compensation Committee Oversight (Evans is a member)
- Independent consultant: Newcleus Compensation Partners advised the Committee in 2024; objective is to pay at or around the 50th percentile of a defined peer group .
- Peer group (examples): First Commonwealth Financial, Washington Trust Bancorp, ConnectOne Bancorp, Peapack-Gladstone Financial, S&T Bancorp, TrustCo Bank, Flushing Financial, City Holding, Kearny Financial, Northfield Bancorp, Amalgamated Financial, Financial Institutions, Tompkins Financial, CNB Financial, The Bancorp, Cambridge Bancorp, Univest Financial, Orrstown Financial, Metropolitan Bank Holding .
- Shareholder feedback: 2024 say-on-pay approval exceeded 94% of votes cast, supporting the Committee’s approach .
Governance Assessment
- Strengths: Independent status; legal/regulatory expertise; service on Audit and Compensation committees; strong attendance; anti-hedging and insider trading controls; director ownership guidelines promote alignment; Clawback applicability to plan awards .
- Alignment: Evans beneficially owns 37,352 shares (<1% of class) including restricted shares; Board policy requires increasing ownership for re-nomination, enhancing long-term alignment with shareholders .
- Compensation mix: Majority cash with modest time-vested equity (999 shares) and no meeting-by-meeting fees; limited “other” from retirement plan termination—consistent and low risk of pay anomalies for a director .
- Conflicts/related party: No related-party transactions disclosed involving Evans; his law firm affiliation is noted without any reported transactions with MPB—low observable conflict risk based on disclosures .
- RED FLAGS: None disclosed specific to Evans. Broader board disclosures show no hedging by directors and no tax gross-ups under executive agreements; committee membership suggests appropriate oversight without interlocks or consultant conflicts noted .
Overall signal: Evans’s independent status, legal acumen, and committee roles (Audit and Compensation) support board effectiveness; equity ownership and governance policies suggest alignment with shareholders, with no disclosed conflicts or attendance concerns .