FINANCIAL BENEFITS & ASSISTANCE

401(K) Profit Sharing Plan

Employees over 21 years of age who have completed 1 year of service and have worked over 1,000 hours per year are eligible to participate in the Savings portion of the plan. Participants may elect to defer up to 25% of their salary through pre-tax payroll deductions and invest in several funds. Loans are permitted. Community Bank of FL will match $1.00 on the dollar up to the first 3% and $0.50 on the next 2%. Participants enter the profit sharing portion of the plan on the first of the month on or after the employee meets eligibility requirements. If Community Bank of FL’s profitability goals are met, the Board of Directors may authorize a voluntary and discretionary contribution to be distributed to the participants at plan year end.

Educational Assistance

All full-time employees who have completed one year of service are eligible for our tuition pre-paid program. Community Bank of FL pays 100% of tuition and 50% of textbooks for one class per semester. No service commitment required. Additionally, full-time employees who have completed three years of service are eligible to enroll under a tuition contract. Qualified employees receive 100% of tuition and 50% of textbook pre-payment towards a full-time degree program. A commitment of one year per every year paid by Community Bank of FL is required by the employee after graduation.

Center for Financial Training (CFT): Through our partnership with CFT, our employees have the capability to earn CFT diplomas for the completion of credited programs in General Banking, Bank Operations, Consumer Credit, Commercial Lending, or Mortgage Lending. Community Bank pays 100% of tuition and books towards any CFT credited program.

Employee Mortgage Loans

Full-time and part-time employees (normally scheduled to work 25 hours or more each week) may apply for a mortgage loan at anytime (with standard rates.) Employees who have completed 90 days of service are eligible to apply for a discounted rate. Combank Mortgage Co. offers many benefits, including in-house underwriting and closing, free pre-approval and employees receive a .50% discount in points, which lowers the interest rate for the employee.

Employee Consumer Loans

Full-time and part-time employees (normally scheduled to work 25 hours or more each week) may apply for an installment loan at anytime. Employees who have completed 6 months of service are eligible for a discounted rate of .50%.

We Care Program

At Community Bank, we recognize that changes in the economy can have an adverse impact on our employees. We offer a program called “We Care,” which is designed to provide employees with resources and assistance with their current budget and counseling opportunities.