Independent Bank Corporation Employee Stock Ownership Plan — Form 5500 plan (Independent Bank Corporation)
Plain-English plan 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, Independent Bank Corporation Employee Stock Ownership Plan is a benefit plan reported by Independent Bank Corporation under EIN 38-2032782 and plan number 004. The latest loaded filing year is 2023. The filing reports 993 participants and $14,803,103 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Independent Bank Corporation
- EIN
- 38-2032782
- Plan number
- 004
- Plan type
- 2
- Location
- Ionia, MI
- Latest filing year
- 2023
- Participants
- 993
- End-of-year plan assets
- $14,803,103
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 993 | H, C | 20240731091649NAL0046408434001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $14,803,103
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $14,803,103
- Net assets (BOY)
- $13,354,048
Income & contributions
- Employer contributions
- $1,060,547
- Total contributions
- $1,060,547
- Total income / additions
- $2,566,076
Expenses & distributions
- Benefits paid
- $1,074,015
- Administrative expenses
- $42,790
- Total expenses
- $1,116,805
- Net increase / (decrease)
- $1,449,271
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $25,040 | $0 | 2023 |
| Rehmann Robson | ACCOUNTANT | $17,750 | not reported in the loaded dataset | 2023 |