IBERIABANK, part of a family of companies which includes 24 title companies in Arkansas and Louisiana, recently announced it will give raises and bonuses to some employees as a result of federal tax reform.
The bank announced pay raises of $2 an hour will be given to non-exempt, non-commissioned associates, who currently earn $15 per hour or less, ranging from an average of 12 percent to as much as a 23 percent increase, in base compensation.
IBERIABANK also said it would pay $1,000 cash bonuses to all part-time and full-time associates who currently earn between $15 an hour and $100,000 annually in base pay.
“In total, these investments benefit nearly 80 percent of our associates. We are very proud of our team, and we are pleased to reward those who take care of our clients and our communities every day in extraordinary ways,” IBERIABANK President and CEO Daryl G. Byrd said in a release. “Continuing to invest in our people helps us to attract and retain high quality associates, which translates into strong financial performance and positive results for our shareholders.”