GREENSBURG, Ind., Jan. 3, 2018 /PRNewswire/
-- MainSource Financial Group (NASDAQ: MSFG) will raise
the starting pay and minimum hourly rate to $15 an hour effective immediately for all of its
non-exempt, non-commissioned employees. This announcement comes as
a result of the recently passed tax legislation, which includes a
reduction in corporate tax rates.
Approximately 1,000 associates are employed throughout the
MainSource footprint in Ohio,
Indiana, Illinois and Kentucky. The pay increase will affect over
200 employees.
Archie M. Brown, Jr., President
and CEO, stated, "The recently passed tax legislation is
anticipated to create significant savings for our company. We are
pleased to direct a portion of this savings back to many of our
employees with a meaningful increase in pay."
MainSource Financial Group is listed on the NASDAQ National
Market (under the symbol: "MSFG") and is a community-focused,
financial holding company with assets of approximately $4.6 billion. The Company operates 94
full-service offices throughout Indiana, Illinois,
Kentucky and Ohio through its banking subsidiary,
MainSource Bank, Greensburg, Indiana.
For more information about MainSource Bank, visit
www.mainsourcebank.com.
Cautionary Statements Regarding Forward-Looking
Information
Certain statements contained in this press
release which are not statements of historical fact constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, certain plans, expectations,
goals, projections and benefits relating to the impact of the
recently-passed Tax Cuts and Jobs Act, which are subject to
numerous assumptions, risks and uncertainties. Words such as
''believes,'' ''anticipates,'' "likely," "expected," "estimated,"
''intends'' and other similar expressions are intended to identify
forward-looking statements but are not the exclusive means of
identifying such statements. Please refer to MainSource' s
Annual Report on Form 10-K for the year ended
December 31, 2016, as well as its other filings with the SEC,
for a more detailed discussion of risks, uncertainties and factors
that could cause actual results to differ from those discussed in
the forward-looking statements.
Forward-looking statements are not historical facts but instead
express only management's beliefs regarding future results or
events, many of which, by their nature, are inherently uncertain
and outside of the management's control. It is possible that
actual results and outcomes may differ, possibly materially, from
the anticipated results or outcomes indicated in these
forward-looking statements. In addition to factors previously
disclosed in reports filed by MainSource with the SEC, risks and
uncertainties for MainSource include, but are not limited to:
the possibility that any of the anticipated benefits of
MainSource's proposed merger with First Financial Bancorp will not
be realized or will not be realized within the expected time
period; the risk that integration of MainSource's operations with
those of First Financial will be materially delayed or will be more
costly or difficult than expected; the inability to close the
merger in a timely manner; diversion of management's attention from
ongoing business operations and opportunities; the failure to
satisfy other conditions to completion of the merger, including
receipt of required regulatory and other approvals; the failure of
the proposed merger to close for any other reason; the challenges
of integrating and retaining key employees; the effect of the
announcement of the merger on First Financial's, MainSource's or
the combined company's respective customer relationships and
operating results; the possibility that the merger may be more
expensive to complete than anticipated, including as a result of
unexpected factors or events; and general competitive, economic,
political and market conditions and fluctuations. All
forward-looking statements included in this filing are made as of
the date hereof and are based on information available at the time
of the filing. Except as required by law, MainSource does not
assume any obligation to update any forward-looking statement.
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SOURCE MainSource Financial Group