Some might question the payoff for lavish parties, fitness centers and even career-development programs. But a growing body of academic evidence suggests that there is a link between employee happiness and bottom-line results.

The thriving Colorado institution keeps its employees happy — and minimizes turnover — by offering one of the industry's most generous retirement packages.

Popular with employees: On the first Thursday of June, July and August, employees enjoy drinks and games at a happy hour on the roof of the bank's headquarters.

Popular with employees: First National sponsors an annual communitywide Father-Daughter Date Night. Young women dress up and share the night with their fathers or grandfathers.

Popular with employees: Full benefits are extended to all employees who work more than 20 hours a week.

Popular with employees: An outdoor walking path that circles the office park is lined with scenic views.

Community service initiative: Employees fund and lead a grant-giving foundation, and CoBiz matches their contributions. Recipients are determined through an annual community involvement survey.

Popular with employees: Professional development is a top priority at Chesapeake. All employees have the chance to advance their careers with additional training paid for by the bank.

Popular with employees: In April, 80 employees took part in National Teach Children to Save Day. The team helped 7,500 students learn about budgeting, interest and understanding needs versus wants.

Popular with employees: North Shore organizes several walks, runs and bikes throughout the year and pays for employees to participate.

Popular with employees: Some FirstBank locations have a ping-pong table in the break room. This year four branches in Lakewood hosted an employee tournament that raised more than $800 for Junior Achievement.

Popular with Employees: Employees can submit prayer requests via the company's "Happy Hub" intranet.

Popular with employees: More than half of the employees serve on at least one committee focused on strategic initiatives, allowing them to share ideas and take action.

The Best Banks to Work For study is a collaboration between American Banker and the Best Companies Group, which conducts extensive employee surveys and reviews employer reports on benefits and policies.

Most banks encourage employees to be active with local charities, but the parent of First Tennessee Bank takes its support to a higher level by awarding cash grants to nonprofits at which its employees are board members.

From birthdays to volunteer work to losing weight, these institutions from our annual Best Banks to Work For list have given their employees inventive ways to earn extra time off.

Tri-Valley Bank in San Ramon, Calif., plans to raise $1.35 million in a private placement of its common stock.

FirstMerit in Akron, Ohio, has reached an agreement with Paychex to provide payroll-processing services.

Poage Bankshares in Ashland, Ky., has promoted its bank president to chief executive, following the resignation of Ralph "Gene" Coffman.

The Federal Housing Administration has resolved a long-standing conflict with municipalities and private companies that back "green energy" loans that is expected to benefit banks and other mortgage lenders. The next question is whether the regulator of Fannie Mae and Freddie Mac mortgages will do the same.