Anthony R. Scavuzzo
About Anthony R. Scavuzzo
Anthony R. Scavuzzo (age 43) is a Managing Principal of Castle Creek Capital, a private equity firm focused on community banking, and has served on the Texas Community Bancshares (TCBS) board since 2022 . The board classifies him as not independent under Nasdaq rules because he is the son‑in‑law of former Chairman/CEO James H. Herlocker III (retired November 2023) . In FY2024 the TCBS board held 9 meetings, no director fell below 75% attendance, and all directors attended the prior annual meeting .
Past Roles
Proxy filings provide current role (Managing Principal, Castle Creek Capital) and TCBS board service; prior employment history beyond this is not disclosed .
External Roles
| Organization | Ticker | Role | Notes |
|---|---|---|---|
| Blue Ridge Bancshares, Inc. | BRBS | Director | Public company board seat |
| Enterprise Financial Services Corp | EFSC | Director | Public company board seat |
| Pathfinder Bancorp, Inc. | PBHC | Director | Public company board seat |
| Third Coast Bancshares, Inc. | TCBX | Director | Public company board seat |
| Guaranty Federal Bancshares, Inc. (past 5 yrs) | GFED | Former Director | Company has since been acquired |
Board Governance
| Item | Detail |
|---|---|
| Independence status | Not independent (family relationship to former executive: son‑in‑law of James H. Herlocker III, retired Nov 2023) |
| Committee memberships | Not listed on Audit, Compensation, or Nominating & Corporate Governance committees |
| Committee chair roles | None |
| Board leadership | Chairman: Glen Thurman (independent); CEO role separate |
| Board/committee activity (FY2024) | Audit: 6 mtgs; Compensation: 7 mtgs; Nominating & Corporate Governance: 2 mtgs |
| Attendance | No director <75% of board and committee meetings (FY2024); all directors attended last annual meeting |
| Years on TCBS board | Director since 2022 |
| Board refresh context | Board reduced to 9 members at 2025 annual meeting as certain directors did not stand for re‑election |
Fixed Compensation
Director fees (non‑employee) – amounts paid by Broadstreet Bank; no separate fees from TCBS.
| Metric (USD) | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash | $24,000 | $24,000 |
| Stock Awards | $0 | $0 |
| Option Awards | $0 | $0 |
| Non‑Equity Incentive Plan Comp | $0 | $0 |
| All Other Compensation | $0 | $0 |
| Total | $24,000 | $24,000 |
Notes:
- Director compensation table shows cash board fees only; no equity or meeting/committee chair fees for Mr. Scavuzzo in 2023–2024 .
Performance Compensation
- No performance‑linked compensation disclosed for non‑employee directors; compensation comprised solely of fixed cash fees in 2023–2024 .
Other Directorships & Interlocks
- Public company boards: BRBS, EFSC, PBHC, TCBX; prior 5‑year service on GFED (acquired) .
- Governance note: multiple concurrent bank directorships increase interlock/time‑commitment considerations; TCBS does not report related‑party transactions with these entities.
Expertise & Qualifications
- Managing Principal at Castle Creek Capital; brings banking, investment, and public company reporting expertise and extensive industry network .
Equity Ownership
| As of March 27, 2025 | Detail |
|---|---|
| Shares beneficially owned | 89,322 shares |
| Ownership as % of outstanding | 2.9% (based on 3,061,652 shares outstanding) |
| Options exercisable within 60 days | 3,257 shares (included in total) |
| Pledged shares | None indicated; proxy notes none of the named individuals has pledged shares |
| Anti‑hedging policy | Company prohibits hedging transactions by directors and related persons |
Governance Assessment
-
Strengths
- Significant equity ownership (2.9%) aligns incentives with shareholders .
- Attendance and engagement: no director below 75% attendance; all directors attended prior annual meeting .
- Not seated on key independent committees, which is appropriate given non‑independence status .
- Board leadership separation with independent chair (Glen Thurman) supports oversight .
-
Risks / RED FLAGS
- RED FLAG: Not independent due to family relationship to former CEO; monitor for influence or conflicts in strategic and personnel decisions .
- Multi‑board service across several public banks could pose time‑commitment and interlock risks; continue monitoring workload and potential overlapping relationships .
-
Related‑party exposure
- Company discloses loans to directors/executives are made in ordinary course, on market terms, and performing; no other related‑party transactions >$120,000 since Jan 1, 2024 .
-
Compensation/Alignment
- Director compensation structure is modest and cash‑only ($24,000), with no new equity grants in 2023–2024; equity alignment comes from share ownership and previously granted options (3,257 exercisable within 60 days as of the record date) .