Home Federal Bank Announces Additional Employee Bonuses
SHREVEPORT, La., July 09, 2018 (GLOBE NEWSWIRE) -- Home Federal Bank (“HFB”), a wholly-owned subsidiary of Home Federal Bancorp, Inc. of Louisiana (NASDAQ:HFBL), today announced plans to pay up to a $1,000 cash bonus to eligible non-exempt (under the Fair Labor Standards Act) and non-commissioned employees. Approximately 60% of HFB’s employees will receive this bonus. In addition, HFB recently increased its 401(k) plan employer matching contribution rate from 4% to 6%.
“The Tax Cuts and Jobs Act created an opportunity to reward our employees, build lasting relationships in our community, and produce long-term value for our shareholders,” said Jim Barlow, President and Chief Executive Officer of HFB. “The Board’s decision to recognize our employees is reflective of our commitment to the future growth and success of HFB.”
Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its six full-service banking offices and one commercial lending office in northwest Louisiana. HFB is a full-service community bank committed to providing an unparalleled level of personal service while helping customers meet all their financial needs. Additional information is available at www.hfbla.com.
Released by: Dawn Williams, SVP Marketing / Home Federal / 318.841.1172