Additional Announcements of Post-Tax Reform Bank Actions

More announcements of bank actions in response to the tax reform bill — including wage increases, bonuses, community investments and customer experience enhancements — continue to roll in. Most recently:

  • Pittsburgh-based F.N.B. Corporation said it would raise its minimum wage to $15 per hour by the end of 2019 and make an additional one-time 401(k) contribution to eligible employees.
  • Synovus Financial Corporation in Columbus, Ga., said it would give a $1,000 bonus to all full-time and part-time non-executive employees.
  • Seattle’s HomeStreet Bank raised its minimum wage to $15 per hour in all markets effective Jan. 1.
  • Kish Bancorp in State College, Pa., paid a $1,000 bonus to full-time employees and $500 to part-time employees and announced additional investments of $10 million over the next three years, including a new technology, operations and customer service center to enhance the customer experience.
  • First Bank and Trust Company in Abingdon, Va., said it would give back 30 percent of its tax savings to employees by raising its minimum wage to $15 per hour.
  • Johnstown, Pa.-based 1st Summit Bank provided a $1,000 bonus to all full-time employees on top of 2017 year-end bonuses, raised its salary ranges and increased its charitable giving budget by 10 percent.

The American Bankers Association continues to post news about these actions at The association also has a wide range of news, information and banker resources on the new tax law at