Leominster-based Fidelity Bank is increasing its minimum wage and doling out bonuses of $500 to all staff below the vice president level as a result of tax reform, which reduced the corporate tax rate from 35 percent to 21 percent.
Berkshire Bank is the latest bank in Massachusetts to announce bonuses, increased charitable contributions and a higher minimum wage following the recent passage of federal tax reform legislation.
East Boston Savings Bank has been one of the fastest-growing banks in Massachusetts, and with new savings from tax reform, it continues full steam ahead.
As a result of tax reform, Citizens Financial Group Inc. is giving out employee bonuses and donating millions to the company’s charity fund.
Less than a week after President Donald Trump signed the new tax reform bill into law, banks are already beginning to take advantage of expected savings.
