Tax Reform Enables Employee Bonuses at Franklin Savings Bank.

Tax Reform enables employee bonuses.

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Franklin Savings Bank to give employees a $1,000 bonus.

Tax Reform Enables Employee Bonuses
Franklin Savings Bank to give all employees a $1,000 bonus.

FRANKLIN, NH - Franklin Savings Bank announced yesterday that it will use a portion of its tax savings to provide employees with a special bonus in recognition of their contribution to the continued success of the bank. FSB will benefit from the reduction in corporate tax rates, and has chosen to share the savings with its employees. All employees will receive a $1,000 bonus.

"Our employees consistently go 'above and beyond' for our customers and the communities we serve," said Ron Magoon, President & CEO.

"This bonus is another opportunity to thank them for their outstanding commitment, dedication and service."

After 30 years since the last major tax overhaul, a historic tax reform package was passed by Congress and signed into law by President Trump on December 22, 2017. The new tax code brings with it many changes, including lower individual and business tax rates. It is expected that these lower tax rates will allow companies to invest more in their businesses, which will stimulate job growth and continued economic expansion.

Magoon continued: "We take great pride in offering our employees a competitive compensation and benefits package, and strive to be an employer of choice. We continually look for opportunities to demonstrate the appreciation we have for our staff as they are truly the key to our success."

Franklin Savings Bank is proud to support the individuals, families, businesses and communities it serves. Each year the bank gives thousands of dollars in contributions through donations, scholarships, grants, sponsorships, and tax credit purchases. It is this type of demonstrated commitment that earned FSB the recognition of "2017 Business of the Year" in the financial services sector by BusinessNH Magazine.

About Franklin Savings Bank

Established in 1869, Franklin Savings Bank is an independent, mutually-owned community bank, offering a full array of commercial lending, personal banking and investment services throughout the Central Lakes Region and southern New Hampshire. Headquartered in Franklin, the Bank has offices in Bristol, Boscawen, Tilton, Gilford and Merrimack, as well as an office in Bedford for business lending. Franklin Savings Bank also offers investment, insurance and financial planning services through its wholly-owned subsidiary, Independence Financial Advisors, from offices in Franklin, Bedford, Gilford, Nashua, Rochester and Merrimack, New Hampshire. As a recognized leader in providing the latest in financial services technology, Franklin Savings Bank remains committed to serving the needs of businesses, families and the communities it serves, through a dedicated team of employees, a diverse line of financial products and services, and continued investment in emerging technology.

Posted 2/27/18

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