In a recent realignment of its management structure, Home Federal Bancorp, Inc. of Louisiana (NASDAQ:HFBL), a $39 million market cap regional bank with a ’Fair’ financial health score according to InvestingPro, has promoted Mr. Adalberto Cantu, Jr. to the position of Executive Vice President and Chief Banking Officer. This change, effective January 15, 2025, comes as the company seeks to navigate an increasingly complex regulatory and operational landscape.
Previously serving as Senior Vice President and Senior Credit Officer at Home Federal Bank, the wholly-owned subsidiary of Home Federal Bancorp, Mr. Cantu’s promotion was decided by the Board in coordination with Mr. James R. Barlow, the Bank’s President and CEO. Mr. Cantu’s expanded responsibilities are intended to enhance the bank’s lending business strategy.
Consequently, Mr. K. Matthew Sawrie, Senior Vice President of Commercial Lending, and Mr. David S. Barber, Senior Vice President of Mortgage Lending, will now report to Mr. Cantu. This shift in reporting also means that Mr. Sawrie and Mr. Barber will no longer be considered executive officers of the company.
Home Federal Bancorp did not disclose any financial details related to the executive changes in its filing. The information provided in this article is based on a press release statement.
In other recent news, Home Federal Bancorp, Inc. of Louisiana has disclosed a new executive transition agreement. Senior Vice President and Senior Credit Officer, Adalberto Cantu, Jr., will continue in his current role until the end of 2025, after which he will transition to a part-time Special Assets Manager and consultant for the bank.
Simultaneously, the company has announced significant changes in its board and executive team, with Walter T. Colquitt, III retiring, and Glen W. Brown transitioning to the role of Treasurer. Brad Ezernack, the bank’s current Vice President and Controller, is set to succeed Brown.
Additionally, the company has undergone board changes, with the retirement of long-standing board member Walter T. Colquitt, III and the election of two new directors, James R. Barlow and Thomas Steen Trawick, Jr. The shareholders also ratified the appointment of Carr, Riggs & Ingram, LLC as the company’s independent registered public accounting firm for the fiscal year ending June 30, 2025. These changes are part of the recent strategic adjustments in the company’s leadership structure.
These developments come as the company maintains a healthy dividend yield and has a track record of maintaining dividend payments for 20 consecutive years. Despite these changes, the company continues to maintain a strong financial foundation, as indicated by its fair overall financial health score.
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