What is a Subchapter S Bank?

A Subchapter S (or S corporation) bank is, in most respects, just like any other finanicial institution.

The unique quality of an S corporation is in the way that they are taxed.  Rather than paying corporate taxes, the tax implications of the profits or losses of the bank are realized on the individual tax returns of the bank shareholders.  In that the maximum individual tax rate is lower than the corporate tax rate.

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