ESOP · DOL Form 5500 · 2022

Independent Bank Corporation ESOP

Data updated 2026-08-25

$13M
Total assets Small plan by assets
789
Participants Near avg headcount
70th
Percentile by assets National rank
$16,925
Avg per participant Low balance/head
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Official DOL plan name: Independent Bank Corporation Employee Stock Ownership Plan · Sponsored by Independent Bank Corporation · Michigan · Finance & Insurance

$13M in assets, 789 participants

Independent Bank Corporation's Independent Bank Corporation Employee Stock Ownership Plan reported $13M in total assets and 789 participants in its 2022 DOL Form 5500 filing, ranking in the 70th 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.

  • #5,062 in Finance & Insurance (9,261 peers)

Independent Bank Corporation multi-year trail

Independent Bank Corporation's plans moved +26.8% in assets from 2022 to 2024; this filing shows Independent Bank Corporation Employee Stock Ownership Plan at $13M / 789 participants.

#5,062
in Finance & Insurance (9,261 peers)
+1.1%
assets growth YoY

Independent Bank Corporation Employee Stock Ownership Plan's outsized position by total assets

Independent Bank Corporation Employee Stock Ownership Plan vs every filed plan by assets

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

$13,354,048 Top 30% higher than 70% 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

Independent Bank Corporation Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Independent Bank Corporation Employee Stock Ownership Plan sits mid-pack in the medium band (789 participants).

DOL schedule card

Filing strip 382032782 · Independent Bank Corporation PY 2022 · ESOP

Independent Bank Corporation Employee Stock Ownership Plan · $13M · 789 · 70th

  • 5500 $13M
  • ASSETS 789
  • PCT 70th
  • EIN ESOP
  • RANK near Sun-Star Electric, Inc. Employee Stock Ownership Plan
  • PHOTO ind #5062

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 →

Independent Bank Corporation Employee Stock Ownership Plan in the asset neighbourhood

Webb Landscape, Inc. Employee Stock Ownership PlanWebb Landscape, Inc. Employe…$13MInnovative One Group, Inc. Employee Stock Ownership PlanInnovative One Group, Inc. E…$13MSun-Star Electric, Inc. Employee Stock Ownership PlanSun-Star Electric, Inc. Empl…$13MIndependent Bank Corporation Employee Stock Ownership PlanIndependent Bank Corporation…$13MTsc 401(k) Employee Stock Ownership PlanTsc 401(k) Employee Stock Ow…$13M
End-of-year total assets ($M) among Independent Bank Corporation Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2022.

Independent Bank Corporation multi-year asset trail

Sponsor-wide plan assets over time

All Independent Bank Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$117M 26.80131233896023% vs 2022
2024 filing year
$80M$90M$100M$110M$120M 202220232024 $92.1M $117M ▲ +26.8%
Year Plans Participants Total Assets
2022 2 1,768 $92M
2023 2 1,734 $104M
2024 2 1,590 $117M

Independent Bank Corporation filing trail (2022)

Total Assets (Beginning of Year)$13M
Net Assets (End of Year)$13M
Net Income$182K
Employer EIN382032782
Plan Effective Date2006-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Michigan

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

Independent Bank Corporation Employee Stock Ownership Plan vs. nearby ESOP plans in Michigan, assets vs. participants Scatter plot of 6 data points. 0500100015002000 -0.500.511.5 Total assets ($B) Participants Independent Bank Corporation Employee Stock Ownership Plan, Total assets ($B): 0.013354048 · Participants: 789Independent Bank Corporation Employee 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
Independent Bank Corporation Employee Stock Ownership Plan vs. nearby ESOP plans in Michigan, assets vs. participants
Compare Independent Bank Corporation Employee Stock Ownership Plan side-by-side with 3 peers →

Independent Bank Corporation Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside Michigan, the nearest ESOP by assets is Sun-Star Electric, Inc. Employee Stock Ownership Plan in TX ($13M); by covered participants it is Mckim & Creed, Inc. Employee Stock Ownership Plan in NC (790 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (789 participants); asset peers above are excluded.

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 Independent Bank Corporation Employee Stock Ownership Plan assets move in 2022? ▼
Independent Bank Corporation Employee Stock Ownership Plan edged up modestly - up 1.1% during 2022, from $13M to $13M. Reported net income was $182K.
How have Independent Bank Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Independent Bank Corporation's sponsor-wide assets grew 26.8%, from $92M to $117M.
Which ESOP plans are similar in size to Independent Bank Corporation Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Sun-Star Electric, Inc. Employee Stock Ownership Plan in TX ($13M, 45 participants).
Which ESOP plans cover a similar participant headcount to Independent Bank Corporation Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Mckim & Creed, Inc. Employee Stock Ownership Plan in NC (790 participants, $72M in assets).

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 382032782.

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.