2018-01-28 / Marketplace

Lakestone Bank & Trust employees benefit from tax reform

LAPEER — Lakestone Bank & Trust announced Friday that employees will benefit from the recently announced tax reform law.

Bruce J. Cady, chairman and CEO of Lakestone Bank & Trust said, “We are very appreciative of all Lakestone Bank & Trust employees and certainly what they have accomplished over the years, particularly the last year; and we want to commemorate the passing of this historic, economy-stimulating tax reform law. This is a once in a lifetime opportunity and we know we want to reinvest much of the savings back into our bank and the first place we are going to put it is into the hands of our employees. Employees are our most important asset.”

All hourly employees received a $1 per hour raise and all salaried employees will receive a $1,000 bonus. The bank’s board of directors overwhelmingly supported this action, resulting in a significant investment into the bank’s employees.

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