401(k) · DOL Form 5500 · 2022

Southern Michigan Bancorp, Inc. 401(k) Plan

Data updated 2026-08-25

$18M
Total assets Small plan by assets
168
Participants Small participant base
75th
Percentile by assets National rank
$104,274
Avg per participant Below avg balance/head
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Official DOL plan name: Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan · Sponsored by Southern Michigan Bancorp, Inc. · Michigan · Finance & Insurance

$18M in assets, 168 participants

Southern Michigan Bancorp, Inc.'s Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported $18M in total assets and 168 participants in its 2022 DOL Form 5500 filing, ranking in the 75th 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.

  • #5,645 in Finance & Insurance (9,261 peers)

Coverage in Michigan

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan covers 168 participants in Michigan, about 26% of the average Michigan filer (state average ~638 per filing). Assets: $18M.

#5,645
in Finance & Insurance (9,261 peers)
-14.2%
assets change YoY
0.2×
vs typical plan assets (national mean)

The plan reported a net loss of $3M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan's outsized position by total assets

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs every filed plan by assets

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

$17,517,996 Top 25% higher than 75% 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

Southern Michigan Bancorp, 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. Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (168 participants).

Form 5500 schedule snapshot

Filing strip 382407501 · Southern Michigan Bancorp, Inc. PY 2022 · 401(k)

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan · $18M · 168 · 75th

  • TYPE $18M
  • NET 168
  • BOOK 75th
  • VS-ST 401(k)
  • BOY near Elmhurst Anesthesiologists, P.C. Profit Sharing Plan & Trust
  • SCH ind #5645

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 Finance & Insurance retirement plans → · Plans in Michigan →

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan in the asset neighbourhood

Southern Michigan Bancorp, Inc. Employee Stock Ownership PlanSouthern Michigan Bancorp, I…$18MElmhurst Anesthesiologists, P.C. Profit Sharing Plan & TrustElmhurst Anesthesiologists, …$18MVlk Architects, Inc. 401(k) PlanVlk Architects, Inc. 401(k) …$18MP.W. Gillibrand Company Tax-Deferred Savings PlanP.W. Gillibrand Company Tax-…$18MPiramal Critical Care, Inc. 401(k) PlanPiramal Critical Care, Inc. …$18M
End-of-year total assets ($M) among Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2022.

Michigan filing particulars

Total Assets (Beginning of Year)$20M
Net Assets (End of Year)$18M
Net Income-$3M
Employer EIN382407501
Plan Effective Date1986-08-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Southern Michigan Bancorp, Inc.)

Sponsor-wide plan assets over time

All Southern Michigan Bancorp, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$22M 28.234468143502262% vs 2022
2024 filing year
$16M$18M$20M$22M$24M 202220232024 $17.5M $22.5M ▲ +28.2%
Year Plans Participants Total Assets
2022 1 168 $18M
2023 1 226 $19M
2024 1 240 $22M

Nearby 401(k) Plans in Michigan

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -505101520 Total assets ($B) Participants Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.017517996 · Participants: 168Southern Michigan Bancorp, Inc. Employee Stock Ownership PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 18.071817726 · Participants: 43382General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 13.833597622 · Participants: 32974Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 9.307640951 · Participants: 16930The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 7.545889119 · Participants: 40458The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 6.44558193 · Participants: 57811Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan side-by-side with 3 peers →

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Elmhurst Anesthesiologists, P.C. Profit Sharing Plan & Trust in IL ($18M); by covered participants it is Tierney Brothers, Inc. Profit Sharing Plan and 401(k) Plan in MN (168 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (168 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 Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan assets move in 2022? ▼
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan pulled back noticeably - down 14.2% during 2022, from $20M to $18M. Reported net income was -$3M.
How have Southern Michigan Bancorp, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Southern Michigan Bancorp, Inc.'s sponsor-wide assets grew 28.2%, from $18M to $22M.
Where does Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan ranks in the 75th percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan? ▼
Among 401(k) plans in other states, the closest by assets is Elmhurst Anesthesiologists, P.C. Profit Sharing Plan & Trust in IL ($18M, 34 participants).
Which 401(k) plans cover a similar participant headcount to Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Tierney Brothers, Inc. Profit Sharing Plan and 401(k) Plan in MN (168 participants, N/A 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 382407501.

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.