The pace of banks' converting to S corporations slowed considerably in the first quarter, because most of the eligible institutions had already made the switch.

According to Federal Deposit Insurance Corp. statistics released last week, the number of S corporations jumped 20%, to 1,253, from the end of 1998 to March 31. That compares with a 72% surge during the same period a year earlier.

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.