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Broadway Bank Contact Form

Benefits Package

Health Insurance

Medical – A point-of-service (POS) plan is provided. Both the employees and the Bank contribute toward the monthly premium for the employee and any covered dependents. Full-time and Part-time regular employees are eligible on the first day of employment. The Bank pay 67% of the cost for this benefit.

Dental – A preferred Provider Organization (PPO) plan is provided. The Bank and employees pay a portion of the monthly premium for the employee and any covered dependents. The plan includes coverage for preventive, basic, major dental work and orthodontia (for adults and children). The level of coverage depends on the type of service provided. Full-time and Part-time regular employees are eligible on the first day of employment. The Bank pay 50% of the cost for this benefit.

Vision – Vision insurance is provided for all employees and their dependents. The plan includes coverage for eye exams, frames, eyeglass lenses (or contact lenses in lieu of eyeglasses), as well as discounts for refractive eye surgery. The Bank pays 100% of the cost for this benefit.

Other Health Insurance

Flexible Spending Account (FSA) - Employees can establish a healthcare or dependent care FSA to pay for eligible out-of-pocket expenses on a pre-tax basis. Monies diverted into the reimbursement account program are not taxable for federal income tax or Social Security/FICA. Full-time and part-time employees qualify on the first of the month following date of hire for healthcare reimbursement, and on the first of the month following 30 days of active service for dependent care reimbursement.

Employee Assistance Program (EAP) - The Bank has contracted with Deer Oaks EAP Services to offer professional, confidential counseling to employees and any family members residing in their household. Full-time and part-time employees and their family members may receive eight (8) one-hour counseling sessions per problem during the contract year (August 1 through July 31) at no cost. Counseling services beyond the 8 hours are charged to the employee on a fee-for-service basis.

Life & Accidental Death and Dismemberment Insurance

The Bank pays all premium costs. Full-time and part-time regular employees are eligible on the first day of employment. Coverage is at two times the annual salary rounded up to the next thousand dollars, guaranteed issue up to a maximum of $500,000.

Short Term Disability Insurance

The benefit provides income protection of up to 70% of the employee’s weekly salary ($2,000 weekly maximum) in the event the employee is unable to work due to a disability caused by accident or sickness.The disability benefit begins on the 1st day for an accident and on the 8th day for sickness with a maximum period of 18 weeks.The Bank pay 100% of the cost for this benefit.

Long Term Disability Insurance

The plan provides partial income to disabled employees after 120 consecutive days of disability. The policy covers 66.67% of the basic monthly rate up to a maximum of $15,000 monthly. In addition, in the event of a catastrophic disability that results in the loss of two or more activities of daily living, the benefit percentage will increase to up to 100% of pre-disability earnings. The Bank pays 100% of the cost for this benefit. 

Additional Insurance

Life - Full-time or part-time employees may elect to purchase supplemental life insurance for themselves and/or their dependents at discounted group rates. This insurance can be bought at the time of hire.

Long Term Care - The Bank offers a voluntary long term care policy to employees, spouses, and other immediate family members.  This insurance pays a monthly benefit when an insured is receiving care at home and/or in a facility when needing assistance with activities of daily living (i.e., bathing, dressing, eating, etc.).  Employees pay 100% of the premium.This benefit can be bought at the time of hire.

AFLAC - The Bank offers supplemental Accident, Critical Illness, and Hospital Indemnity Plan. The plans pay cash benefits to help with costs associated with out-of-pocket expenses and bills. These benefits can be bought at the time of hire.

Pet Insurance - Employees can purchase health insurance coverage for their pets at a special group discount for Broadway Bank employees of 5% (up to 15% for multiple pets). Coverage is available for wellness exams as well as accidents and illness.

Identity Theft Protection - Broadway Bank provides Identity Theft protection at no cost to employees who wish to enroll.Services include; Identity Consultation Services, Privacy Monitoring, Security Monitoring and Identity Restoration.

Retirement

401(k) Plan - This plan provides eligible employees a way to save money for retirement and receive matching contributions from Broadway Bank. Employees are eligible to participate as of the first of the month following 6 weeks from their date of hire and are automatically enrolled after the waiting period per to the plan guidelines. Employees can elect to save any percentage of their salaries up to the annual IRS maximum amount on a pre-tax basis for retirement.  The Bank will match 50 cents on the dollar of the employee's contribution up to the first 6%.  The Bank's match is subject to the Plan's vesting schedule

Variable Compensation

Annual Performance Incentive - Full and part time regular employees are eligible to receive an annual performance incentive. The bonus incentive is awarded based on criteria established by the Company’s Board of Directors. The bonus payout will be contingent on the Board’s assessment of the Company’s overall performance and the manager’s assessment of an individual’s performance. If funded, the bonus will be paid as a cash bonus and may be deferred into the 401(k) account as limits allow.

Annual Performance Review and Merit Increase - Full and part-time regular employees are eligible for an annual performance review and consideration for a merit pay increase. Performance reviews are conducted on an annual cycle. Merit increases are not guaranteed and are based on individual performance. When provided, a merit increase may accompany a performance review if the employee’s performance and salary level so warrant.

Time Off Benefits

Paid Time Off - The PTO plan features a single “bank” of time off where employees can plan for individual needs away from work.PTO can be used for vacation, illness, and any other personal time off needs employees may have. Employees may elect to carry over unused PTO time each year, with a max of an additional 80 hours added to their allotted PTO bank.

Paid Holidays - The bank recognizes the following as paid holidays each year:

New Year’s Day – Martin Luther King’s Day – President’s Day – Memorial Day – Independence Day – Labor Day – Columbus Day – Veteran’s Day – Thanksgiving Day – Christmas Day

Parental Leave - As a family friendly employer, we want to provide our team members the ability to spend time with new additions to the family without additional stress! 

Highlights include:

  • Short-term disability insurance, 100% of premium paid by the Bank
  • Up to 8 weeks of 100% paid leave for employees giving birth (first week covered through use of PTO)
  • Up to 6 weeks of 100% paid leave for other parental leaves (first week covered through use of PTO)

Other Bank Benefits

Educational Assistance - The Bank will pay up to $1,000 per semester (up to $4,000 per year) for degrees for full-time and part-time employees who have been employed at least three months.  Employees must earn a grade of "C" or better to receive reimbursement. A maximum of two courses or 6 hours per semester will be reimbursed.  Reimbursement is offset by any scholarships or grants the employee may receive.

Anniversary Recognition – Employees’ and Directors’ length of service is recognized with the following cash awards:5 years - $100, 10 years - $200, 15 years - $300, 20 years - $400, 25 years - $500, 30 years - $600, 35 years - $700 and 40 years - $800.All cash awards are subject to federal taxation.

Free Checking Account - The Bank provides two free checking accounts to employees (or one free checking and one free savings account).

Free Small Safe Deposit Box - Employees are eligible to receive a small (2x5) safe deposit box and the Bank will waive the $15 monthly charge.  The employee is responsible for set-up charges.  For larger boxes, the $15 credit will be applied and the employee must pay the difference.

Reduced Loan Rates - Broadway Bank provides a service to employees by providing personal loans at a favorable interest rate. The same loan underwriting procedures used for customer loans will apply to employee loans.  

Recruitment Referral Bonus Program - Full-time and part-time employees are eligible to receive $500 for successfully recruiting a non-exempt employee and $1,000 for recruiting an exempt or officer-level employee. The referred individual must identify the name of the employee referring him or her by the first day of employment.  If the referred applicant is offered and accepts a full-time or part-time position with the Bank, the referring employee will receive $100.00 on the applicant's date of hire, and the remaining amount will be paid when the new employee reaches his or her 120-day anniversary. All cash awards are subject to federal taxation.

Attendance Award – The Bank recognizes full-time and part-time non-exempt employees with perfect attendance with a monetary award.

Floral Arrangements – The Bank provides flower arrangements for employees, spouses and immediate family members in the event of hospitalization or funeral.The Bank also provides for a baby gift for employees and spouses in the event of a birth or adoption of a child.

Parking – The Bank provides free parking to all employees, including the downtown Financial Center.

Mileage Reimbursement – The Bank reimburses mileage costs for employees who use personal vehicles for Bank business.The reimbursement rate will be at the prevailing IRS mileage rate.

Annual Employee Picnic – Employees and their families are invited to the Bank’s annual picnic.

Mother-Friendly Worksite

Texas Mother-Friendly Worksite

Broadway Bank is an official designation and certified as a Texas Mother-Friendly Worksite. 

*Effective 1/01/2018. The descriptions in this Benefits Summary are to provide general information to employees and should not be relied upon for specific information about any plan, program or policy listed herein. For detailed information about these benefits, or about your eligibility for any particular plan, program or policy, you should consult the Personnel Policies and Procedures Manual, the Human Resources Department, and the specific Summary Plan Descriptions and/or Plan Documents for the benefit, program or policy in question. In addition, the listing of benefits in this Summary is not a promise by BBI to continue any benefit, policy, plan or program. BBI reserves the right to amend, add to or terminate its benefits and plans, programs or policies at any time.

Broadway Bank. We're here for good.