Heather R. Hall
About Heather R. Hall
Heather R. Hall is Senior Executive Vice President, Market President for Central PA, and Chief Lending Officer at Mid Penn Bank (MPB), appointed to the role in January 2024 after serving as EVP and Market President for the Capital Region since April 2021; she joined MPB in November 2016 in the commercial banking group . She holds a Bachelor’s Degree in Business Administration from Shippensburg University and serves on the Harrisburg Regional Chamber Board and its Finance Committee . In 2025 investor materials, she is cited with 8 years at MPB and 26 years in the banking industry . Corporate performance context during her recent tenure includes ROAA of 0.91% (2024), organic deposit growth of $343M (+7.91%), and tangible book value growth of 9.0% in 2024 , and a long-term track record of outsized value creation (e.g., 10-year TSR of 256% vs. NASDAQ Regional Bank Index 152%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mid Penn Bank | Senior EVP, Market President – Central PA & Chief Lending Officer | Jan 2024–present | Leads lending strategy and market growth across Central PA; elevated to C-suite lending leadership . |
| Mid Penn Bank | EVP, Market President – Capital Region | Apr 2021–Jan 2024 | Oversight of loan and deposit activities; drove regional growth and client acquisition . |
| Mid Penn Bank | Commercial Relationship Manager | Nov 2016–Apr 2021 | Built commercial portfolios and client relationships in core markets . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Harrisburg Regional Chamber | Board Member; Finance Committee | Not disclosed | Regional economic development engagement and fiscal governance support . |
Equity Ownership & Alignment
| Date | Security | Amount | Ownership Form | Notes |
|---|---|---|---|---|
| Jan 30, 2024 | Common Stock | 2,757.436 | Direct | Initial statement of beneficial ownership (Form 3) . |
| Jan 30, 2024 | Restricted Stock (RS) | 1,563 | Direct | Shares granted as RS, vest per individual grant terms . |
- Anti-hedging/derivatives: MPB’s Code of Ethics prohibits day trading, short selling, and transactions in derivatives of MPB securities (other than plan awards) . Insider Trading Policy imposes quarterly blackout periods and requires pre-clearance of all transactions by the Compliance Officer .
- Clawback policy: All awards under the Stock Incentive Plan are subject to MPB’s corporate clawback policy; forfeiture for misconduct is embedded in plan terms .
Employment Terms
- Current position and appointment: Senior EVP, Market President (Central PA) & Chief Lending Officer since January 2024 .
- Insider trading controls: Regular blackout windows; two-day pre-clearance required; applies to directors, officers, and employees .
- Stock Incentive Plan treatment on change of control: Options/SARs become immediately exercisable; restrictions on restricted stock lapse; deferred stock unit delivery accelerates upon a “Change of Control or Ownership” as defined in the plan .
- Non-compete/solicit: Specific covenants are disclosed for Named Executive Officers (NEOs) but not for Hall; NEO agreements include 12-month non-solicitation (employees/customers) post-termination under specified conditions . No executive ownership pledging policy is disclosed; hedging prohibitions apply broadly .
Performance Compensation
MPB emphasizes long-term, shareholder-aligned metrics in executive pay, including ROAA, ROATCE, efficiency ratio, asset quality, organic loan growth, and TSR . For 2024, the Compensation Committee considered challenging earnings targets amid a difficult environment and did not award short-term cash incentives to NEOs; equity remained the core long-term incentive vehicle (restricted stock under the 2014 plan and new 2023 omnibus plan) .
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Net Interest Margin | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Equity awards vesting described below . |
| ROAA | Not disclosed | Not disclosed | 0.91% (2024) corporate result context | Not disclosed | Equity plan vesting rules apply . |
| ROATCE | Not disclosed | Not disclosed | Corporate ROATCE disclosed in investor materials (e.g., MRQ 11.57% in 2Q24) | Not disclosed | Equity plan vesting rules apply . |
| Efficiency Ratio | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Equity plan vesting rules apply . |
| Asset Quality Ratio | Not disclosed | Not disclosed | Corporate NPAs/Assets 0.19% (2Q24) | Not disclosed | Equity plan vesting rules apply . |
| Organic Loan/Deposit Growth | Not disclosed | Not disclosed | +$343M deposits (+7.91%) in 2024 | Not disclosed | Equity plan vesting rules apply . |
| TSR | Not disclosed | Not disclosed | 10-year TSR 256% vs. KRX 152% (corporate) | Not disclosed | Equity plan vesting rules apply . |
Notes:
- Plan architecture: The 2023 Stock Incentive Plan authorizes multiple award types (options, RSUs, RS, SARs, DSUs, performance shares), with minimum vesting periods (≥3 years service-based; ≥1 year performance-based) and explicit clawback/forfeiture provisions .
- 2024 NEO short-term incentives were not paid due to performance versus aggressive Board targets; Hall’s specific bonus/target is not publicly disclosed .
Fixed Compensation
Individual base salary and target bonus for Heather R. Hall are not separately disclosed in MPB’s proxy materials (Summary Compensation Tables cover NEOs only) . MPB’s compensation philosophy for executives includes base salary, short-term incentives, and equity (restricted stock/performance shares) to align with long-term shareholder value .
MPB Performance Context (FY)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | 23,657,000 | 19,686,000* | 22,493,000 |
| Net Income - (IS) ($USD) | 54,806,000 | 37,397,000 | 49,437,000 |
| Return on Assets (%) | 1.193 | 0.764 | 0.9187 |
| Return On Equity (%) | 10.9374 | 7.0931 | 8.2576* |
Values retrieved from S&P Global.*
Investment Implications
- Alignment and retention: Hall’s meaningful direct and restricted stock holdings under MPB’s equity plans, coupled with clawback and anti-hedging policies, support alignment with long-term value creation and reduce misaligned risk-taking .
- Execution levers: As Chief Lending Officer, Hall’s performance is most levered to credit discipline, loan growth, and deposit mix—metrics central to MPB’s incentive frameworks (ROAA/ROATCE, asset quality, efficiency, organic growth) . Corporate 2024 outcomes (ROAA 0.91%, +7.91% deposit growth) provide constructive context .
- Trading signals: No Form 4 transaction history was identified in reviewed filings beyond Form 3; insider selling pressure appears limited based on available documents. Monitor future Form 4s for vesting-related sales around quarterly blackout windows .
- Contract exposure: Individual employment, severance, and change-of-control terms are not disclosed for Hall; however, equity awards would benefit from plan-level change-of-control accelerators, implying contingent value tied to corporate transactions .