Compensation
02/16/2017

S-Corporation Banks Reap Biggest ESOP Benefits

Small, closely-held banks face a lot of challenges in today’s highly consolidated and rapidly changing marketplace, but there’s one advantage they have over many other banks, including those that are publicly traded: When combined with an S-corporation organizational structure, Employee Stock Ownership Plans, or ESOPs, provide a level of retirement benefit to their participants that neither C-corporation ESOPs or any other qualified retirement plan can match. Of course, ESOPs are not exactly a new phenomenon. Although they gained legal status in 1974 as a qualified retirement plan under the Employee Retirement Income Security Act, the concept of providing employees with…

You have accessed a resource that is only available to our Bank Services members.

From how-to articles, director training videos, key interviews with industry leaders and more, Bank Services provides bank executives and directors with the tools to help grow their financial institutions. To sign up for exclusive access to this online bank board resource, please contact Bank Services at 615-777-8461 or [email protected].

Read The Article

Please enter your username and password below. If you have established a password please click ‘forgot your password’

WRITTEN BY

Jack Milligan

Editor-at-Large

Jack Milligan is editor-at-large of Bank Director magazine, a position to which he brings over 40 years of experience in financial journalism organizations. Mr. Milligan directs Bank Director’s editorial coverage and leads its director training efforts. He has a master’s degree in Journalism from The Ohio State University.