The owners of hundreds and probably thousands of small, closely held banks could save millions in taxes by taking advantage of a soon-to-be available corporate structure, according to banking lawers and tax specialists.

By becoming S corporations, closely held banks may be able to ward off acquirers and attract more long-term investment.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.