2023 Form 5500 filing — Lake Bank Shares, Inc. Employee Stock Ownership Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240826151328NAL0009641137001) for Lake Bank Shares, Inc. Employee Stock Ownership Plan, reported by Lake Bank Shares, Inc. under EIN 41-1569569 and plan number 001. It reports 39 participants. Attached schedules in the loaded dataset include Schedule I (small plan financials).
- EFAST2 acknowledgement
- 20240826151328NAL0009641137001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Lake Bank Shares, Inc.
- EIN
- 41-1569569
- Plan number
- 001
- Location
- Albert Lea, MN
- Participants
- 39
- Schedules available
- Schedule I
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $17,353,683
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $17,353,683
- Employer contributions
- $350,000
- Participant contributions
- $0
- Total income / additions
- $1,983,287
- Benefits paid
- $729,444
- Administrative expenses
- $0
- Total expenses
- $729,444
- Net increase / (decrease)
- $1,253,843
- Schedule source
- Schedule I