Shareholders in Subchapter S corporations will get some tax relief of their own under a new Treasury Department rule that will let them take a 20% deduction on qualified business income, which includes loan originations and sales.
In venturing into what's normally a province of large banks, nbkc in Kansas City, Mo., discovered innovative tax-management and other products that it could offer to its own customers or sell to other banks.
The Arkansas company's earnings fell 52% from a year earlier, reflecting a higher provision, a revaluation of its deferred tax asset and higher costs following a series of bank acquisitions.
Highlights at the North Carolina bank included deposit service charges, CRE lending and wider margins, which all offset one-time costs related to tax reform.
The Senate approved the final tax reform plan 51-48 early Wednesday, the second-to-last obstacle before sending it to President Trump for his signature.
