Great Southern Bancorp Inc. (Nasdaq: GSBC) yesterday announced it would award cash bonuses to its more than 1,200 employees, following tax reform at the federal level.
The operator of Great Southern Bank plans to issue $1,000 bonuses to full-time employees and $500 to part-time workers who were with the company as of Dec. 31, according to a news release.
"The recently passed tax reform package should have positive implications for the U.S. economy, which we expect will benefit the banking industry, including Great Southern,” President and CEO Joe Turner said in the release. “We are pleased to take advantage of the unique opportunity presented by the tax reform legislation by rewarding our associates with this special bonus.”
Great Southern officials intend to disclose the anticipated impact of the tax changes in its fourth-quarter earnings report, slated to be released on Jan. 23, said spokesman Chris Keenan.
GSBC shares climbed this morning as high as $51.65 after closing yesterday at $50.95. The company’s 52-week range is $42.25 to $58.45.
Great Southern joins a movement among companies to award bonuses to employees after the federal legislature’s approval of sweeping tax reform measures.
Companies with a presence in Springfield include:
• Stifel Financial Corp. (NYSE: SF), $1,500 bonuses;
• AT&T Inc. (NYSE: T), $1,000 bonuses;
• Bank of America Corp. (NYSE: BAC), $1,000 bonuses;
• Commerce Bancshares Inc. (Nasdaq: CBSH), $1,000 bonuses; and
• U.S. Bancorp (NYSE: USB), $1,000 bonuses.
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