CLINTON — As a result of the passage of the tax relief bill this week, Ohnward Bancshares has announced it will pay a $1,000 tax relief, holiday bonus to every company employee.
This bonus is separate, and, in addition to, normal bonuses received based on company performance.
“There has been a lot of debate about what a tax cut will do for the nation’s economy. This sweeping tax reform will create economic growth in our communities, but only if the expense savings are shared," says members of Ohnward's leadership team, Abram Tubbs, Brigham Tubbs, Alan Tubbs and Kendra Beck. “In consideration of the bonus, we have encouraged each team member to spend it at locally owned businesses or consider making a donation to a local, charitable organization that he or she believes in.”
The leadership team points out that the passage of the tax relief bill is only part of the story. Over the last 10 years, during times of economic recession and stagnant growth, Ohnward has enjoyed growth rates that exceed those of the national economy. At the same time, the company has maintained a strong level of profitability. These results have been achieved because of the commitment and dedication of the team.
“We are blessed to work with an extremely talented and dedicated group of people. Each and every one is committed to carrying out our mission. Everyday we will make a positive difference in the financial lives of everyone we touch. We are pleased to be able to share the financial result with the team that makes it happen.”
Ohnward Bancshares, Inc., a billion dollar bank holding company with 22 financial offices in Eastern Iowa including Maquoketa State Bank with offices in Maquoketa, Andrew, and Preston; Ohnward Bank and Trust with offices in Baldwin, Cascade, Monticello, Marion, Central City and Cedar Rapids; First Central State Bank, DeWitt with offices in Long Grove, Eldridge and Le Claire; and Gateway State Bank, Clinton with offices in Goose Lake and three in Clinton.
Additional services are offered through all banking offices under the Ohnward banner, which includes Ohnward Insurance Group, Central Realty, Ohnward Financial Advisor Services, Ohnward Farm Management, Ohnward Tax, Accounting and Business Services, Vosler Investment Group and Ohnward Wealth & Retirement offices.