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Popular with employees: Each summer the bank sponsors a Thursday afternoon outdoor concert series called Sonic Lunch in its hometown of Ann Arbor.

Popular with employees: Central employees can buy up to three extra vacation days per year and get reimbursed if they fail to use them.

Location: Mount Dora, Fla.

Popular with employees: Employees get an extra day off as a reward for the bank's inclusion in American Banker Magazine's Top 200 Community Banks ranking. It has been on the list for more than five years.

Popular with employees: On-site fitness classes, including hula, Zumba and yoga, take place at various times throughout the day.

Popular with employees: At the close of each quarter, FirstCapital hosts a catered breakfast, with prizes for exemplary accomplishments.

Popular with employees: Surprise breakfasts are a hit.

Popular with employees: Jeans are acceptable office attire any day of the week.

Popular with employees: Ice cream is provided to employees on a hot summer day, thanks to the bank's Cheer Committee.

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.