Lake Elmo Bank Employee Stock Ownership Plan — Form 5500 plan (Lake Elmo Bank)
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, Lake Elmo Bank Employee Stock Ownership Plan is a benefit plan reported by Lake Elmo Bank under EIN 41-0557070 and plan number 003. The latest loaded filing year is 2023. The filing reports 119 participants and $9,879,335 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Lake Elmo Bank
- EIN
- 41-0557070
- Plan number
- 003
- Plan type
- 2
- Location
- Lake Elmo, MN
- Latest filing year
- 2023
- Participants
- 119
- End-of-year plan assets
- $9,879,335
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 119 | H, C | 20241008134146NAL0017712769001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $9,879,335
- Total liabilities (EOY)
- $2,025
- Net assets (EOY)
- $9,877,310
- Net assets (BOY)
- $10,372,485
Income & contributions
- Employer contributions
- $362,944
- Total contributions
- $362,944
- Total income / additions
- $1,334,540
Expenses & distributions
- Benefits paid
- $1,789,431
- Administrative expenses
- $40,284
- Total expenses
- $1,829,715
- Net increase / (decrease)
- -$495,175
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal | CONTRACT ADMINISTRATOR | $17,113 | not reported in the loaded dataset | 2023 |
| Eide Bailly | ACCOUNTANT | $14,025 | not reported in the loaded dataset | 2023 |
| Bank Value Advisory Service | VALUATION SERVICES | $5,200 | not reported in the loaded dataset | 2023 |