Home Federal Bancorp, Inc. of Louisiana, a $38.28 million market cap financial institution currently trading near its InvestingPro Fair Value, has reported significant changes in its board and executive team. Walter T. Colquitt, III, a long-standing member of the company's Board of Directors, announced his retirement effective immediately on December 18, 2024. His departure, attributed to personal reasons, is not related to any disagreements with the company's practices or policies.
The board has chosen to decrease its size rather than fill the vacancy left by Dr. Colquitt. The company maintains a strong financial foundation, with a P/E ratio of 11.56 and an attractive dividend yield of 4.14%.
In executive movements, Glen W. Brown will step down from his role as Senior Vice President and Chief Financial Officer to become the Treasurer of Home Federal Bank starting January 1, 2025. Brad Ezernack, previously the Bank’s Vice President, Controller, has been appointed to succeed Brown. Ezernack's promotion is set to take effect on January 1, 2025, with both parties working closely to ensure a seamless transition.
Ezernack has been part of the Home Federal Bank team since August 2023 and brings a wealth of experience from his previous roles, including time at Highland Clinic, APMC, and prior positions within Home Federal Bank and other financial institutions. The board expresses its gratitude to Dr. Colquitt for his service since 1993 and to Mr. Brown for his contributions in his current role.
In other recent news, Home Federal Bancorp, Inc. of Louisiana announced significant developments from its Annual Meeting of Shareholders. The meeting saw the election of two directors and the ratification of an independent accounting firm for the upcoming fiscal year.
Over 2.2 million shares were represented at the meeting, with James R. Barlow and Thomas Steen Trawick, Jr. elected to the board of directors for a three-year term. 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.
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