G. Bridges Hall, IV
About G. Bridges Hall, IV
Senior Vice President and Chief Credit Policy Officer at Red River Bank (RRBI’s bank subsidiary). Hall joined Red River Bank in 2006 as a commercial lender in the Shreveport market; he previously spent seven years managing a family-owned manufacturing business and later served at Hibernia National Bank, ultimately as Credit Department Manager in Dallas, TX . Education: B.S. in Business Administration (Northwestern State University), MBA (LSU–Shreveport), Graduate School of Banking at LSU . As of the 2024 proxy, Hall was age 50, with 18 years at RRBI and 18 years of banking experience, underscoring deep institutional credit-policy expertise . Company performance context: RRBI’s TSR rose to $102.80 from a $100 base over 2022–2024, with net income of $34.2mm in 2024; the proxy highlights steady improvement in net interest margin and EPS in 2024, 12.5% dividend increase, and buybacks that added $0.14 to EPS .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Red River Bank | Northwest Market President | Until March 2021 | Led Northwest market; transitioned back to centralized credit leadership |
| Red River Bank | Commercial Lender (Shreveport) | Joined 2006 | Originated commercial credit; foundation for later credit policy leadership |
| Hibernia National Bank | Credit Department Manager (Dallas) | Pre-2006 | Credit risk leadership in a larger bank environment |
| Family-owned manufacturing business | Management | Seven years | Operational management experience outside banking |
External Roles
- No public-company board or external committee roles disclosed for Hall in RRBI proxy filings .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $200,255 | $219,551 | $229,383 |
| Base Salary Rate ($) | — | $222,702 | $231,610 |
| All Other Compensation ($) | $8,432 | $9,572 | $11,534 |
| All Other Compensation – Components ($) | — | — | 401(k): $11,460; Life insurance: $74 |
Notes:
- RRBI’s Compensation Committee approved a 4% base salary increase for Hall in 2024 (to $231,610) to maintain market competitiveness .
- Perquisites for Hall are limited; no vehicle allowance is disclosed for Hall in 2024 (line items show none) .
Performance Compensation
Annual Bonus (Discretionary – performance and credit quality)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Bonus Paid ($) | $45,000 | $55,000 | $60,000 |
| Mechanism | Discretionary, tied to employee performance and, for lenders, portfolio credit quality | Discretionary, tied to performance and credit quality | Discretionary, tied to performance and credit quality |
- RRBI’s Bonus Plan is discretionary; the proxy does not disclose specific weights, targets, or payout curves for Hall .
Long-Term Incentives (Restricted Stock)
| Grant Date | Shares | Grant-date Fair Value ($) | Vesting |
|---|---|---|---|
| Apr 1, 2024 | 600 | $29,034 | 20% each Apr 1, 2025–2029 |
| Nov 1, 2024 | 1,750 | $92,540 | 20% each Apr 1, 2025–2029 |
| Apr 1, 2023 | 400 | — | 25% each Apr 1, 2025–2028 |
| Jul 1, 2022 | 270 | — | 33% on Jul 1, 2025–2027 |
| Jul 1, 2021 | 200 | — | 50% on Jul 1, 2025 and 2026 |
| Jul 1, 2020 | 70 | — | 100% on Jul 1, 2025 |
- Stock vested during 2024: 430 shares; value realized $20,587 (pre-tax) .
- RRBI currently does not grant stock options; none outstanding for Hall .
Upcoming Vesting Schedule (Supply overhang indicator)
- 2025 tranches: Jul 1, 2025 (70 + 100 + 90) and Apr 1, 2025 (100 + 120 + 350) — see award-level schedule above .
- 2026–2029 tranches continue per each award’s schedule (see table) .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial Ownership (shares) | 6,550 (<1.0% of 6,777,657 outstanding) |
| Unvested Restricted Stock (12/31/2024) | 3,290 shares valued at $177,594 (at $53.98) |
| Stock Ownership Guidelines | CEO: 5x salary; EVPs: 1x salary; all NEOs subject to guidelines are in compliance |
| Hedging/Pledging Restrictions | Short sales and public options prohibited; hedging strongly discouraged; pledging requires preclearance and financial capacity; margin accounts prohibited |
- No specific disclosure of Hall pledging or hedging RRBI stock; policy regime is restrictive and preclearance-based .
- Equity award vesting accelerates on change in control (see Employment Terms) .
Employment Terms
| Provision | Hall (Senior VP, Chief Credit Policy Officer) |
|---|---|
| Employment Agreement | At-will (no individual employment agreement) |
| Change-in-Control Agreement | Executed Dec 21, 2021; lump sum equal to base salary plus average of prior 3 years’ bonuses; COBRA premiums for applicable period; triggers include termination other than for cause, death/disability, or resignation for good reason within 3 months before or 24 months after a change in control; potential 280G cutback only if net after-tax is higher |
| Equity Accelerated Vesting | Accelerates upon change in control |
| Clawback | Company must recover incentive-based pay tied to financial reporting upon a restatement under Rule 10D-1; RRBI currently does not award incentive pay based wholly/partly on financial reporting measures |
| Split-Dollar Life Insurance | $100,000 maximum death benefit (subject to reduction if SERP benefits are paid after Dec 31, 2028); bank-owned life insurance structure |
| SERP (Supplemental Executive Retirement Plan) | Present value of accumulated benefit: $52,503 (discount 6%); normal benefit payable after Dec 31, 2028 over 15 years |
Estimated Payments (If separation occurred on Dec 31, 2024)
| Scenario | Severance ($) | SERP PV ($) | Accelerated RS ($) | Split-Dollar ($) | Total ($) |
|---|---|---|---|---|---|
| Upon Death | — | 52,503 | 177,594 | 100,000 | 330,097 |
| Without Cause or With Good Reason | — | 52,503 | 177,594 | — | 230,097 |
| Change in Control | 319,739 | 52,503 | 177,594 | — | 549,836 |
Performance Context and Peer Benchmarking
- Pay vs Performance: Non-PEO NEO average “compensation actually paid” rose to $552,104 in 2024; RRBI TSR was $102.80; RRBI net income was $34,235k in 2024 .
- Compensation Peer Group: Blanchard’s 2022 analysis benchmarked RRBI NEO pay against 19 Southeastern U.S. banks; RRBI ranked at the 42nd percentile for market cap and 27th percentile for total assets .
Investment Implications
- Alignment: Hall’s growing unvested RSU stack (3,290 shares at year-end 2024) with multi-year vesting (notably April 1 and July 1 tranches from 2025–2029) aligns incentives with long-term TSR but creates predictable supply overhang around vesting dates; accelerated vesting on change-in-control adds optionality tied to strategic events .
- Retention Risk: At-will employment but with a targeted change-in-control protection of one year’s base plus average bonus and COBRA suggests moderate retention incentives; SERP full vesting scheduled for Dec 31, 2028 further strengthens retention through that date .
- Selling Pressure: 2025 includes multiple vesting tranches (see schedule), which can increase near-term liquidity events; monitoring Form 4 filings around April 1 and July 1 will be key for trading signals .
- Governance and Risk: Strict hedging/pledging restrictions, an Exchange Act 10D-1 compliant clawback, and absence of excise tax gross-ups are shareholder-friendly; no stock options outstanding reduces repricing risk .
- Pay-for-Performance: Annual bonuses are discretionary, linked to performance and credit quality without disclosed targets/weights; equity is the primary performance-aligned lever for Hall’s incentives, consistent with RRBI’s emphasis on long-term shareholder value .