ESOP · DOL Form 5500 · 2022
Summit Financial Group, Inc. ESOP
Data updated 2026-08-11
- $14M
- Total assets
- 350
- Participants
- 72nd
- Percentile by assets
- $41,296
- Avg per participant
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.
- 72nd percentile by assets (of 139,126 plans)
- #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.
- $14M
- total plan assets (2022 EOY)
- 350
- covered participants
- 72nd
- percentile by assets (of 139,126 plans)
- $41,296
- avg assets per participant
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.
Rank #623 in Management of Enterprises
Among 1,193 Management of Enterprises plans that filed a Form 5500 for plan year 2022, Summit Financial Group, Inc. Employee Stock Ownership Plan ranks #623 by end-of-year assets - about 2460% of the sector average of $356M. Nationally it sits in the 72nd percentile, a weaker position within its industry than across all filers.
Management of Enterprises filing particulars
| Total Assets (Beginning of Year) | $16M |
|---|---|
| Net Assets (End of Year) | $14M |
| Net Income | -$1M |
| Employer EIN | 550672148 |
| Plan Effective Date | 1989-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Summit Financial Group, Inc.)
| 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
- Triton Employee Stock Ownership Plan $63M · 60
- Port Amherst, Ltd. Employee Stock Ownership Plan $37M · 325
- Weirton Geriatric Center, Inc. Employees' Stock Ownership Plan $27M · 158
- Mulberry's Independent Home Services, Inc. Employee Stock Ownership Plan $25M · 1,716
- March-Westin Company, Inc. Employee Stock Ownership Plan $15M · 89
Similar-Sized ESOP Plans Nationally
ESOP plans in other states closest to Summit Financial Group, Inc. Employee Stock Ownership Plan by total assets, not by location.
- Vergith Contracting Company Employee Stock Ownership Plan (NV) $14M · 33
- Omnibuild Management, Inc. Employee Stock Ownership Plan (NY) $14M · 45
- National Electrostatics Corp. Employee Stock Ownership Plan (WI) $14M · 77
- Moore's Electrical & Mechanical Construction, Inc. Employee Stock Ownership Plan and Trust (VA) $15M · 481
Frequently Asked Questions
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Filing takeaways
Ways to act on Summit Financial Group, Inc. Employee Stock Ownership Plan's numbers.
- By total assets, Summit Financial Group, Inc. Employee Stock Ownership Plan ranks above the median plan by assets. See the largest plans
- Compare it side-by-side against 3 similar ESOP plans in West Virginia. Compare plans
- Summit Financial Group, Inc.'s sponsor-wide assets have declined 99.2% since 2022 across 3 plan years on file. More Management of Enterprises plans