Independence Bancshares, Inc. Employee Stock Ownership Plan (With 401(K) Provisions) — Form 5500 plan (Independence Bancshares, Inc.)
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, Independence Bancshares, Inc. Employee Stock Ownership Plan (With 401(K) Provisions) is a benefit plan reported by Independence Bancshares, Inc. under EIN 61-0955447 and plan number 002. The latest loaded filing year is 2023. The filing reports 632 participants and $82,783,822 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Independence Bancshares, Inc.
- EIN
- 61-0955447
- Plan number
- 002
- Plan type
- 2
- Location
- Owensboro, KY
- Latest filing year
- 2023
- Participants
- 632
- End-of-year plan assets
- $82,783,822
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 632 | H, C | 20241015170157NAL0015130483001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $82,783,822
- Total liabilities (EOY)
- $2,439,273
- Net assets (EOY)
- $80,344,549
- Net assets (BOY)
- $87,509,328
Income & contributions
- Employer contributions
- $863,003
- Participant contributions
- $2,790,813
- Total contributions
- $3,669,043
- Total income / additions
- $2,099,948
Expenses & distributions
- Benefits paid
- $9,138,703
- Administrative expenses
- $126,024
- Total expenses
- $9,264,727
- Net increase / (decrease)
- -$7,164,779
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Independence Bank | OTHER SERVICES | $89,918 | not reported in the loaded dataset | 2023 |
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $36,104 | $0 | 2023 |
| Morningstar Investment Management L | INV ADV, PARTICIPANTS | $0 | $0 | 2023 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Independence Bancshares, Inc.
- 2023 Form 5500 filing
- Form 5500 filings in KY
- 401(k) and benefit plan filings in Owensboro, KY
- Independence Bank — Schedule C compensation
- Principal Life Insurance Company — Schedule C compensation
- Morningstar Investment Management L — Schedule C compensation
- Wilshire Advisors LLC — Schedule C compensation