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Compensation & Benefits

Dustin Morris

The success of American Federal and of our clients depends on the performance and commitment of our employees. Our compensation and benefits are a strategic investment to attract, retain and develop the best employees in our markets. At American Federal, top performers earn superior compensation.


Employees are owners of the company where they work!  American Federal employees participate in ownership of the bank through the Employee Stock Option Plan (ESOP).  Additionally, Officers of the Bank earn half of their incentive compensation in American Federal stock.

Base Compensation

Employees earn an hourly wage or a bi-weekly salary based on the position characteristics and FLSA status, market competitiveness and the employee’s skills.  Compensation growth depends on individual performance.

Variable Compensation

Employees participate in a quarterly incentive program based on the performance of the individual business unit or Home Office department and the bank overall.

Bankers, Managers and Home Office Officers participate in an annual incentive program.  Under the program, an annual bonus is earned based on employee performance, as well as the performance of the business unit and bank overall.

All Officers earn one-half of their annual bonuses in American Federal restricted stock.


We value employees as an entire person.  Their well being is important.

Benefits are an integral part of the total compensation package at American Federal.  Benefits are aligned with state and federal regulations and are established to provide a framework of security for employees and to help employees achieve their personal and financial goals.

Our Employee Stock Ownership Plan (ESOP) gives employees the opportunity to share in ownership of the company where they work.  American Federal employees participate in a retirement program that offers both an ESOP and a 401k with a matching contribution from the bank.

We offer medical, dental and vision plans.  Employees also receive discounts on financial products, home mortgages and more.

Highlights of our competitive benefits:

Health and Well-Being

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance and AD&D Insurance
  • Short-Term Disability Program and Long-Term Disability Insurance
  • Supplemental Life insurance
  • Pre-Tax Medical and Dependent Care Flexible Spending Accounts
  • Worker’s Compensation Insurance
  • Employee Assistance Program


  • 401k plan with American Federal match
  • American Federal Employee Stock Ownership Plan (ESOP)

Time Off

  • Paid Time Off
  • Paid Holidays
  • Family and Medical Leave

Other Benefits

  • Full-Time, Full-Time Flex and Part-Time positions
  • Incentive Bonus programs
  • American Federal Product and Service discounts and savings for employees
  • Training and Learning and Development programs
  • Recognition programs