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Business and Economy

Camden National Bank To Turn Some Tax Savings Into Employee Bonuses

Camden National Bank plans to use some of the money it's saving on corporate taxes under the new Republican tax plan to give bonuses to its non-executive employees.

Full-timers will get a $1,000 bonus, part-timers $750.

Camden President and CEO Greg Dufour says while it's nice to be able to thank employees for their service, it's also about employee retention and long-term planning.

"I think if you talk to any businessperson no matter what industry, everything I hear is we're worried about talent. we need to figure out a way to make sure we have a great labor pool throughout the state of Maine."

Toward that end, the bank is also using some of that savings to look at company salaries and increase access to employee education.