Jennifer Terry
About Jennifer Terry
Jennifer F. Terry is Executive Vice President and Chief Human Resources Officer (CHRO) of The Bancorp, Inc. (TBBK), serving in the role since April 2018; she is 52 years old and has over 20 years of HR experience, including senior roles at TD Bank, Canon Business Process Services, and Xerox, with certifications including Senior Professional in HR, Senior Certified Professional, and Strategic HR Leadership; she also serves on the board of trustees for The Philadelphia Orchestra and Ensemble Arts . Company performance during her tenure has been strong: net income rose from $130.2M (2022) to $192.3M (2023) to $217.5M (2024), ROA improved from 1.8% (2022) to 2.6% (2023) to 2.7% (2024), and ROE increased from 19% (2022) to 26% (2023) to 27% (2024) . TBBK’s stock price increased 36% in 2024 and 286% from Dec 31, 2020 to Dec 31, 2024, underscoring multi-year TSR momentum under current leadership .
Company performance (selected metrics)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income ($USD Millions) | $130.2 | $192.3 | $217.5 |
| ROA (%) | 1.8% | 2.6% | 2.7% |
| ROE (%) | 19% | 26% | 27% |
| Company TSR – $100 initial value | $112 | $136 | $136 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TD Bank | Vice President, Senior Manager of HR Operations & Delivery | Not disclosed | Led HR operations delivery, supporting talent acquisition/management and benefits |
| Canon Business Process Services | Senior management roles (HR) | Not disclosed | Focused on talent acquisition/management and employee benefits |
| Xerox | Senior management roles (HR) | Not disclosed | Focused on talent acquisition/management and employee benefits |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| The Philadelphia Orchestra and Ensemble Arts | Board of Trustees Member | Not disclosed | Trustee service disclosed; no compensation specifics provided |
Fixed Compensation
- Specific base salary, target bonus %, and actual bonus for Ms. Terry are not disclosed in the proxy (she is not a 2024 Named Executive Officer) .
- Company-level practices that apply to executive officers: pay-for-performance with mix of cash and equity, no employment agreements generally, no guaranteed incentive payouts, limited perquisites, and no tax gross-ups; executives subject to mandatory and discretionary clawback policies; independent compensation consultant (Pay Governance LLC) supports the Compensation & Talent Committee .
Performance Compensation
| Incentive Type | Design / Vesting | Triggers / Notes |
|---|---|---|
| RSUs | Typically vest over 3 years, one-third per anniversary from grant date | Death/disability/retirement: unvested RSUs vest on one-year anniversary; involuntary termination following change in control: unvested RSUs fully vest; for-cause or other termination: unvested RSUs forfeited |
| Stock Options | Typically vest over 4 years, one-fourth per anniversary; exercise price set at grant | Death/disability/retirement: unvested options vest on one-year anniversary and are exercisable within defined periods; involuntary termination following change in control: unvested options become exercisable; for-cause or other termination: unvested options forfeited |
- Company emphasizes multi-year performance and long-term equity to align executives with stockholder value; executive incentives are awarded at committee discretion and typically granted in Q1 of the following fiscal year .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO must own 3x salary; each director must own 2x annual fees; other executive officers must own amounts as determined by Compensation Committee policy; newly appointed executives have up to five years to comply; as of the proxy date, all directors and executive officers were in compliance with guidelines to the extent applicable .
- Anti-hedging and anti-pledging: employees, executive officers, and directors are prohibited from hedging and pledging company stock or derivatives under the Insider Trading Policy .
- Clawbacks: Mandatory clawback for erroneously awarded incentive-based compensation upon accounting restatement (Exchange Act Section 10D); discretionary clawback allows recovery of incentive and other compensation (excluding salary) for misconduct by executive officers and VPs+ .
Employment Terms
- Employment agreements: Company generally does not enter into formal employment agreements with executive officers; executive employment is at-will, and severance or cash payments upon termination are negotiated case-by-case .
- Standard HR practice evidence: Jennifer F. Terry signs executive offer letters (e.g., CFO offer) reflecting at-will employment and background check contingencies; illustrates HR governance and process oversight in senior hires .
- Perquisites: executives entitled to only limited perquisites (e.g., 401(k) match, insurance premiums, limited allowances), with no tax gross-ups under Company plans .
Performance & Track Record
| Factor | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income ($USD Millions) | $130.2 | $192.3 | $217.5 |
| ROA (%) | 1.8% | 2.6% | 2.7% |
| ROE (%) | 19% | 26% | 27% |
- The Bancorp’s share price rose 36% in 2024 and 286% since year-end 2020, driven by growth in net income, fintech fee expansion, and loan growth, despite some credit normalization in bridge lending; EPS increased to $4.29 in 2024 (+23% YoY) .
- Governance: Say-on-Pay received ~96% approval at the 2024 annual meeting; Compensation & Talent Committee (Chair William H. Lamb; members Matthew N. Cohn, Mark E. Tryniski) oversees pay and talent policies .
- Leadership transitions: CFO retired March 28, 2025 with interim CFO appointed; such transitions can affect management stability and HR priorities (succession, retention) .
Risk Indicators & Red Flags
- Hedging/pledging prohibited, reducing misalignment risk .
- Clawbacks (mandatory and discretionary) strengthen accountability, mitigating pay-for-performance risk in restatements or misconduct .
- Credit risk in real estate bridge lending noted as “did not meet” in the 2024 CEO scorecard, highlighting execution vigilance across operating units; HR alignment includes ensuring talent, controls, and incentive structures support risk discipline .
Data Access Note (Insider Selling Pressure)
- We attempted to retrieve Jennifer F. Terry’s Form 4 insider transactions using the insider-trades skill (Form 4 feed) for 2023–2025, but encountered an authorization error (HTTP 401). We did locate her Form 3 (initial beneficial ownership) filed on Feb 4, 2019, confirming officer status (Managing Director – CHRO) and initial 401(k) holdings; current Form 4 trading activity could not be fetched due to the access error .
- If you want, we can re-run insider-trades when access is restored to quantify recent RSU vesting, sales, or option exercises and assess near-term selling pressure.
Investment Implications
- Alignment and retention: Stock ownership guidelines, anti-hedging/pledging, and robust clawbacks point to high alignment and lower governance risk; with all directors and executive officers reported in compliance, Ms. Terry is likely aligned with long-term value creation .
- Compensation levers: Absence of guaranteed payouts and reliance on discretionary, performance-based incentives reduce moral hazard; equity vesting over multi-year periods strengthens retention but could create periodic supply from vesting; without Form 4 flow we cannot quantify near-term sales pressure.
- Execution focus: Strong multi-year ROE/ROA and net income trends support management efficacy; HR leadership continuity since 2018 aligns with expansion in fintech fees and scaled operating platform; watch credit normalization in bridge lending and finance leadership transition (CFO) as potential execution risks that HR must support via talent and incentive structures .
Key sources: 2025 DEF 14A (executive bios, compensation policies, ownership guidelines, clawbacks, performance metrics, say-on-pay) ; Form 3 for Jennifer F. Terry (officer status) ; CFO offer letter signed by Jennifer Terry (HR governance) .