INDIANA — Character, Class, Compassion and Competition are the values driving MutualBank’s vision for helping people live better lives. For 129 years, MutualBank has served communities throughout Indiana by upholding these values and doing the right thing.

The Tax Cuts and Jobs Act passed at the end of 2017 gave companies in all industries the opportunity to project a different economic outlook in 2018 and possibly beyond. While those realizations have not yet materialized, the rapid changes in our environment gave senior management at MutualBank an opportunity to evaluate how to respond.

CEO Dave Heeter said,” When an event like this occurs, a significant consideration is determining if the increased earnings resulting from the reduction in taxes, should be shared with a company’s constituents.” Heeter continues, “In the anticipation that the change in the tax law will provide an opportunity for greater earnings moving forward, we feel that sharing a portion of those earnings with our outstanding staff is appropriate.”

In the first quarter of 2018, MutualBank will distribute a $750 one-time payment for all full-time and part-time employees except for the Executive Management Team. Additionally, all non-exempt employees will receive a $0.50 increase in their hourly wage.

“It is the dedication and hard work of MutualBank employees that helps us generate shareholder value, community impact, and long-term success.” Heeter adds, “Investing back into our employees reinforces Mutual’s culture of helping people live better lives and perpetuates the bank’s ability to increase shareholder value.”