First National Capital Corporation (FNCC), a full-service commercial equipment and aviation finance provider, recently announced additional cash payments to its employees as a result of converting to an ESOP structure.  

The company will begin making additional Options Related payments to current employees dating back to the original conversion of the company to an ESOP. The additional payments to employees total $1,216,445 and are in addition to the original payments of $6,984,763 totaling over $8.2 million in total.

Keith Duggan, CEO of First National, said, “I am very proud that First National continues with its tradition of “sharing in the success” with our employees in reciprocation for their efforts and loyalty. From the first day I founded the company, I said I wanted every employee to feel and act like an owner and that has only been reinforced with our conversion to an ESOP.

“These combined options payments of over $8.2 million in a roughly 50-employee company shows that we take our commitments seriously, and our ‘word’ both to customers and employees means everything.”

Duggan added, “Even more impressive than the total dollars is the fact that these option payments are spread to every level of employee in the company. Many management, sales and administrative team members are receiving these payments.”

He went on to say, “Combined with very generous incentive compensation structures, equity participation and the ESOP (a defined-retirement plan), I take great pride that First National offers probably the most comprehensive and generous compensation structure in the industry.”

Across a wide variety of industries and asset classes, First National Capital Corporation supports mid-sized and large companies by providing competitive equipment financing across an extensive variety of business and credit situations. FNCC has deployed more than $3.17 billion in capital to companies throughout the U.S. for equipment, project, and aviation financing.