ESOP · DOL Form 5500 · 2022

Summit Financial Group, Inc. ESOP

Data updated 2026-08-25

$14M
Total assets Small plan by assets
350
Participants Below avg headcount
72nd
Percentile by assets National rank
$41,296
Avg per participant Low balance/head
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Official DOL plan name: Summit Financial Group, Inc. Employee Stock Ownership Plan · Sponsored by Summit Financial Group, Inc. · West Virginia · Management of Enterprises

$14M in assets, 350 participants

Summit Financial Group, Inc.'s Summit Financial Group, Inc. Employee Stock Ownership Plan reported $14M in total assets and 350 participants in its 2022 DOL Form 5500 filing, ranking in the 72nd 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.

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

Management of Enterprises sector rank

Within Management of Enterprises, Summit Financial Group, Inc. Employee Stock Ownership Plan ranks #623 of 1,193 2022 filers by assets (2460% of the sector average)-$14M for 350 participants.

#623
in Management of Enterprises (1,193 peers)
-10.2%
assets change YoY

The plan reported a net loss of $1M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Summit Financial Group, Inc. Employee Stock Ownership Plan's outsized position by total assets

Summit Financial Group, Inc. Employee Stock Ownership Plan vs every filed plan by assets

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

$14,453,747 Top 28% higher than 72% 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

Summit Financial Group, Inc. 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. Summit Financial Group, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (350 participants).

DOL schedule card

Filing strip 550672148 · Summit Financial Group, Inc. PY 2022 · ESOP

Summit Financial Group, Inc. Employee Stock Ownership Plan · $14M · 350 · 72nd

  • ASSETS $14M
  • ASSETS 350
  • ASSETS 72nd
  • ASSETS ESOP
  • ASSETS near Vergith Contracting Company Employee Stock Ownership Plan
  • ASSETS ind #623

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 West Virginia →

Summit Financial Group, Inc. Employee Stock Ownership Plan in the asset neighbourhood

Moore's Electrical & Mechanical Construction, Inc. Employee Stock Ownership Plan and TrustMoore's Electrical & Mechani…$15MOmnibuild Management, Inc. Employee Stock Ownership PlanOmnibuild Management, Inc. E…$14MSummit Financial Group, Inc. Employee Stock Ownership PlanSummit Financial Group, Inc.…$14MVergith Contracting Company Employee Stock Ownership PlanVergith Contracting Company …$14MNational Electrostatics Corp. Employee Stock Ownership PlanNational Electrostatics Corp…$14M
End-of-year total assets ($M) among Summit Financial Group, Inc. Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2022.

Management of Enterprises filing particulars

Total Assets (Beginning of Year)$16M
Net Assets (End of Year)$14M
Net Income-$1M
Employer EIN550672148
Plan Effective Date1989-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Summit Financial Group, Inc.)

Sponsor-wide plan assets over time

All Summit Financial Group, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$389K 99.23763653215958% vs 2022
2024 filing year
$0M$20M$40M$60M$80M 202220232024 $51M $0.39M ▼ -99.2%
Year Plans Participants Total Assets
2022 2 782 $51M
2023 2 806 $62M
2024 1 358 $389K

Nearby ESOP Plans in West Virginia

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

Summit Financial Group, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in West Virginia, assets vs. participants Scatter plot of 6 data points. -5000500100015002000 020406080 Total assets ($M) Participants Summit Financial Group, Inc. Employee Stock Ownership Plan, Total assets ($M): 14.453747 · Participants: 350Summit Financial Group, Inc. Employee Stock Ownership PlanTriton Employee Stock Ownership Plan, Total assets ($M): 62.954773 · Participants: 60Triton Employee Stock Ownership PlanPort Amherst, Ltd. Employee Stock Ownership Plan, Total assets ($M): 36.993299 · Participants: 325Port Amherst, Ltd. Employee Stock Ownership PlanWeirton Geriatric Center, Inc. Employees' Stock Ownership Plan, Total assets ($M): 26.703168 · Participants: 158Weirton Geriatric Center, Inc. Employees' Stock Ownership PlanMulberry's Independent Home Services, Inc. Employee Stock Ownership Plan, Total assets ($M): 24.823151 · Participants: 1716Mulberry's Independent Home Services, Inc. Employee Stock Ownership PlanMarch-Westin Company, Inc. Employee Stock Ownership Plan, Total assets ($M): 15.297112 · Participants: 89March-Westin Company, Inc. Employee Stock Ownership Plan
Summit Financial Group, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in West Virginia, assets vs. participants
Compare Summit Financial Group, Inc. Employee Stock Ownership Plan side-by-side with 3 peers →

Summit Financial Group, Inc. Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside West Virginia, the nearest ESOP by assets is Vergith Contracting Company Employee Stock Ownership Plan in NV ($14M); by covered participants it is Roush Holdings Employee Stock Ownership Plan in OH (350 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (350 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 Summit Financial Group, Inc. Employee Stock Ownership Plan assets move in 2022? ▼
Summit Financial Group, Inc. Employee Stock Ownership Plan pulled back noticeably - down 10.2% during 2022, from $16M to $14M. Reported net income was -$1M.
How have Summit Financial Group, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Summit Financial Group, Inc.'s sponsor-wide assets declined 99.2%, from $51M to $389K.
Which ESOP plans are similar in size to Summit Financial Group, Inc. Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Vergith Contracting Company Employee Stock Ownership Plan in NV ($14M, 33 participants).
Which ESOP plans cover a similar participant headcount to Summit Financial Group, Inc. Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Roush Holdings Employee Stock Ownership Plan in OH (350 participants, $116M 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 550672148.

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.