Home Federal Bank Announces Additional Employee Bonuses

Rhea-AI Summary

Home Federal Bank (HFBL) announced a cash bonus of up to $1,000 for eligible non-exempt employees, with approximately 60% of its staff set to benefit. This decision, made in response to COVID-19 challenges, underscores the bank's commitment to employee well-being and job security. CEO Jim Barlow emphasized the importance of recognizing employees' hard work, particularly amidst the resurgence of local Coronavirus cases. The bonus initiative reflects a commitment to both employee morale and the future growth of the bank.

Positive

• Announcement of a cash bonus of up to $1,000 for eligible employees.
• Approximately 60% of employees to receive the bonus.
• Commitment to employee job security and well-being during COVID-19.

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• None.

SHREVEPORT, La., July 31, 2020 (GLOBE NEWSWIRE) -- Home Federal Bank (“HFB”), the wholly-owned subsidiary of Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL), today announced plans to pay up to a $1,000 cash bonus to eligible non-exempt and non-commissioned employees.  Approximately 60% of HFB’s employees will receive a bonus. 

“When the Coronavirus threat emerged, our Senior Management Team made a commitment to ensure the safety and well-being of our employees.  To us, this meant that every employee would keep his or her job, salary and benefits,” said Jim Barlow, President and CEO of Home Federal Bank.   “When we began to see a resurgence in the number of local Coronavirus cases, we made plans to create a bonus package for our non-exempt employees, who may be affected by the virus in some way.  Our employees consistently go the extra mile for our customers.  We want our employees to know how much we appreciate their hard work and dedication, and we want our customers to see how important our employees are to us,” added Mr. Barlow.   The Board of Director’s decision to recognize our employees is reflective of our commitment to the future growth and success of HFB.”

Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its seven full-service banking offices and one commercial lending office in northwest Louisiana. HFB is a full-service community bank committed to providing an unparalleled level of personal service while helping customers meet all their financial needs. Additional information is available at www.hfbla.com.

Released by: Dawn Williams, SVP Human Resources / Home Federal / 318.222.1145

FAQ

What is the cash bonus amount announced by HFBL?

HFBL announced a cash bonus of up to $1,000 for eligible non-exempt employees.

How many employees will receive the HFBL bonus?

Approximately 60% of Home Federal Bank's employees will receive the bonus.

What is the reason for HFBL's cash bonus announcement?

The bonus was announced in response to the challenges posed by COVID-19 and to recognize employee contributions.

Who is the CEO of Home Federal Bank?

The CEO of Home Federal Bank is Jim Barlow.

When was the cash bonus announcement made by HFBL?

The cash bonus announcement was made on July 31, 2020.