ESOP · DOL Form 5500 · 2022

First Independence Corporation ESOP

Data updated 2026-08-25

$120K
Total assets Small plan by assets
N/A
Participants Small participant base
7th
Percentile by assets National rank
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Official DOL plan name: First Independence Corporation Stock Ownership Plan · Sponsored by First Independence Corporation · Michigan · Management of Enterprises

$120K in assets, N/A participants

First Independence Corporation's First Independence Corporation Stock Ownership Plan reported $120K in total assets and N/A participants in its 2022 DOL Form 5500 filing, ranking in the 7th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #49 in Management of Enterprises (1,193 peers)

First Independence Corporation multi-year trail

First Independence Corporation's plans moved +99.8% in assets from 2022 to 2024; this filing shows First Independence Corporation Stock Ownership Plan at $120K / N/A participants.

#49
in Management of Enterprises (1,193 peers)
-50.8%
assets change YoY

The plan reported a net loss of $123K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

First Independence Corporation Stock Ownership Plan among the smaller filed plans by assets

First Independence Corporation Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$119,529 7th percentile higher than 7% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Filed plans by participant headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets.

Form 5500 schedule snapshot

Filing strip 382583843 · First Independence Corporation PY 2022 · ESOP

First Independence Corporation Stock Ownership Plan · $120K · N/A · 7th

  • PCT $120K
  • PCT N/A
  • PCT 7th
  • PCT ESOP
  • PCT near Diablo Country Magazine, Inc. ESOP
  • PCT ind #49

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with What is an ESOP? → · Plans in Michigan →

First Independence Corporation Stock Ownership Plan in the asset neighbourhood

First Independence Corporation Stock Ownership PlanFirst Independence Corporati…$120KDiablo Country Magazine, Inc. ESOPDiablo Country Magazine, Inc…$120KSenior Home Care Services Inc. Retirement PlanSenior Home Care Services In…$122KDynacoil Employee Stock Ownership PlanDynacoil Employee Stock Owne…$117KPanhandle Implement Company, Inc. Employee Stock Ownership PlanPanhandle Implement Company,…$123K
End-of-year total assets ($M) among First Independence Corporation Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2022.

First Independence Corporation multi-year asset trail

Sponsor-wide plan assets over time

All First Independence Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$239K 99.79753867262338% vs 2022
2024 filing year
$0.1M$0.15M$0.2M$0.25M$0.3M 202220232024 $0.12M $0.24M ▲ +100.0%
Year Plans Participants Total Assets
2022 1 N/A $120K
2023 1 N/A $157K
2024 1 N/A $239K

First Independence Corporation filing trail (2022)

Total Assets (Beginning of Year)$243K
Net Assets (End of Year)$120K
Net Income-$123K
Employer EIN382583843
Plan Effective Date1986-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Michigan

Peer ESOP plans, same state, same plan type, ranked by total assets.

First Independence Corporation Stock Ownership Plan vs. nearby ESOP plans in Michigan, assets vs. participants Scatter plot of 6 data points. -5000500100015002000 -0.500.511.5 Total assets ($B) Participants First Independence Corporation Stock Ownership Plan, Total assets ($B): 0.000119529 · Participants: 0First Independence Corporation Stock Ownership PlanMcnaughton-Mckay Electric Company Employee Stock Ownership Plan, Total assets ($B): 1.052163391 · Participants: 1155Mcnaughton-Mckay Electric Company Employee Stock Ownership PlanThe Kendall Group Employee Stock Ownership Plan, Total assets ($B): 0.725583306 · Participants: 1817The Kendall Group Employee Stock Ownership PlanProject Worldwide, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.394784403 · Participants: 977Project Worldwide, Inc. Employee Stock Ownership PlanMotor City Electric Co. Employee Stock Ownership Plan, Total assets ($B): 0.191093331 · Participants: 209Motor City Electric Co. Employee Stock Ownership PlanBandit Holding Company, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.181896 · Participants: 591Bandit Holding Company, Inc. Employee Stock Ownership Plan
First Independence Corporation Stock Ownership Plan vs. nearby ESOP plans in Michigan, assets vs. participants
Compare First Independence Corporation Stock Ownership Plan side-by-side with 3 peers →

First Independence Corporation Stock Ownership Plan's closest out-of-state ESOP peers by assets

Outside Michigan, the nearest ESOP by end-of-year assets is Diablo Country Magazine, Inc. ESOP in CA at $120K (this filing: $120K).

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did First Independence Corporation Stock Ownership Plan assets move in 2022? ▼
First Independence Corporation Stock Ownership Plan contracted severely - down 50.8% during 2022, from $243K to $120K. Reported net income was -$123K.
How have First Independence Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), First Independence Corporation's sponsor-wide assets grew 99.8%, from $120K to $239K.
Where does First Independence Corporation Stock Ownership Plan rank by assets among Form 5500 filers? ▼
First Independence Corporation Stock Ownership Plan ranks in the 7th percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (among the smaller plans by assets on file).
Which ESOP plans are similar in size to First Independence Corporation Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Diablo Country Magazine, Inc. ESOP in CA ($120K, 28 participants).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 382583843.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.