Great Western Bancorp unveils minimum wage hike, bonuses in wake of tax reform

SIOUX FALLS, SD — Great Western Bancorp, Inc., the parent company of Great Western Bank announced investments last week in its employees and community reinvestment as a result of the tax reform package. The investments include:

• Raising the minimum wage to $15;

• A special one-time $500 bonus or wage increase for nearly 70 percent of its workforce;

• Enhancements to employees’ health care offerings effective for the 2018 enrollment period; and

• The doubling of its annual contribution to its Making Life Great Grants community reinvestment program.

“We want to kick off 2018 by investing in our people and communities,” said Ken Karels, Chairman, President and CEO of Great Western Bancorp, Inc. “We are proud of our people and their commitment to our mission to Make Life Great. We felt it was important to reward their hard work and dedication with this special bonus, the minimum wage hike and the health care enhancements.”

In addition to making investments in its people, Karels said the Company is planning to double its annual contribution to its hallmark community reinvestment program — Making Life Great Grants.

“The doubling of our commitment to our Making Life Great Grants program reflects a long-term expansion in our ability to invest in and revitalize our communities for years to come,” Karels continued. “Giving back to the communities where we work and live is part of our culture and aligns with our mission to Make Life Great. It’s the right thing to do.”

The investments in people and community will take effect over the next several months. To learn more about Great Western’s commitment to community reinvestment, please visit the GWB Blog.

About Great Western Bancorp Inc.

Great Western Bancorp, Inc. is the holding company for Great Western Bank, a full-service regional bank focused on relationship-based business and agribusiness banking. Great Western Bank offers small and mid-sized businesses a focused suite of financial products and a range of deposit and loan products to retail customers through several channels, including the branch network, online banking system, mobile banking applications and customer care centers. The bank services its customers through more than 170 branches in nine states: Arizona, Colorado, Iowa, Kansas, Minnesota, Nebraska, North Dakota and South Dakota.