SANDUSKY COUNTY, OH (WOIO) - Civista Bank employees received some welcome news on Friday when CEO Dennis Shaffer announced that everyone in the company would receive a raise.
Shaffer said the raises were handed out in recognition of the employees' hard work at the Sandusky-based bank.
The compensation will be paid as follows:
- All hourly employees and mortgage managers will receive a $1 per hour raise. This equates to roughly $2,080 in new compensation for a full-time employee and $1,248 for a part-time employee.
- Salaried employees, excluding commercial lenders, mortgage mangers, Civista Wealth Management advisors, senior management and executive officers, will receive a $1,500 base salary increase.
- All others -- commercial lenders, Civista wealth management advisors, senior management and executive officers, will receive a one-time bonus of $750.
"A reduction in the corporate tax, resulting from the Tax Cuts and Job Act of 2017, has created a unique savings opportunity for our organization like many other corporations. As a result, our management team's first priority is to reinvest in the compensation of employees. Your dedication to developing lifelong relationships and providing world-class service is the backbone of our organization," said Shaffer in a prepared statement.