ESOP · DOL Form 5500 · 2023

Southern Community Bancshares, Inc. ESOP

Data updated 2026-08-25

$2M
Total assets Small plan by assets
3
Participants Small participant base
31st
Percentile by assets National rank
$714,538
Avg per participant High balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Southern Community Bancshares, Inc. ESOP · Sponsored by Southern Community Bancshares, Inc. · Alabama · Finance & Insurance

$2M in assets, 3 participants

Southern Community Bancshares, Inc.'s Southern Community Bancshares, Inc. ESOP reported $2M in total assets and 3 participants in its 2023 DOL Form 5500 filing, ranking in the 31st 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.

  • #1,905 in Finance & Insurance (8,869 peers)

2023 asset change

Southern Community Bancshares, Inc. ESOP contracted severely 33.0% in 2023 ($3M → $2M) for 3 participants.

#1,905
in Finance & Insurance (8,869 peers)
-33.0%
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.

Southern Community Bancshares, Inc. ESOP among the smaller filed plans by assets

Southern Community Bancshares, Inc. ESOP vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$2,143,614 31st percentile higher than 31% of 127,068 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 2023

Southern Community Bancshares, Inc. ESOP among micro filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Southern Community Bancshares, Inc. ESOP is a micro filing (3 participants), the leftmost band.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Southern Community Bancshares, Inc. ESOP reported net income fell from -$164K in the plan year 2022 filing to -$1M in the plan year 2023 filing.
  • Southern Community Bancshares, Inc. ESOP reported participants fell from 8 in the plan year 2022 filing to 3 in the plan year 2023 filing.
  • Southern Community Bancshares, Inc. ESOP end-of-year assets fell from $3M in the plan year 2022 filing to $2M in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 631176408 · Southern Community Bancshares, Inc. PY 2023 · ESOP

Southern Community Bancshares, Inc. ESOP · $2M · 3 · 31st

  • EIN $2M
  • RANK 3
  • PHOTO 31st
  • IND ESOP
  • EOY near First Security State Bank 401(k) Employee Stock Ownership Plan
  • 5500 ind #1905

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 Alabama →

Southern Community Bancshares, Inc. ESOP in the asset neighbourhood

Misys Employee Stock Ownership PlanMisys Employee Stock Ownersh…$2MWest Plains Bancshares Employee Stock Ownership PlanWest Plains Bancshares Emplo…$2MSouthern Community Bancshares, Inc. ESOPSouthern Community Bancshare…$2MFirst Security State Bank 401(k) Employee Stock Ownership PlanFirst Security State Bank 40…$2MEcc Employee Stock Ownership Plan Employee Stock Ownership PlanEcc Employee Stock Ownership…$2M
End-of-year total assets ($M) among Southern Community Bancshares, Inc. ESOP and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Southern Community Bancshares, Inc. years around the 2023 move

Sponsor-wide plan assets over time

All Southern Community Bancshares, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$3M 8.34098241752745% vs 2022
2024 filing year
$2M$2.5M$3M$3.5M$4M 202220232024 $3.2M $3.47M ▲ +8.4%
Year Plans Participants Total Assets
2022 1 8 $3M
2023 1 3 $2M
2024 1 2 $3M

2023 asset-move particulars

Total Assets (Beginning of Year)$3M
Net Assets (End of Year)$2M
Net Income-$1M
Employer EIN631176408
Plan Effective Date1996-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Alabama

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

Southern Community Bancshares, Inc. ESOP vs. nearby ESOP plans in Alabama, assets vs. participants Scatter plot of 6 data points. -500050010001500 -2000200400600 Total assets ($M) Participants Southern Community Bancshares, Inc. ESOP, Total assets ($M): 2.143614 · Participants: 3Southern Community Bancshares, Inc. ESOPStarfish Holdings, Inc. Employee Stock Ownership Plan, Total assets ($M): 470.48798 · Participants: 1360Starfish Holdings, Inc. Employee Stock Ownership PlanInline Electric Employee Stock Ownership Plan, Total assets ($M): 196.496733 · Participants: 287Inline Electric Employee Stock Ownership PlanRadiance Technologies, Inc. Employee Stock Ownership Plan, Total assets ($M): 168.105591 · Participants: 874Radiance Technologies, Inc. Employee Stock Ownership PlanSignature Homes Employee Stock Ownership Plan, Total assets ($M): 167.814551 · Participants: 123Signature Homes Employee Stock Ownership PlanEmployee Stock Ownership Plan for Employees of David Volkert and Associates, Inc. and Sub, Total assets ($M): 126.850762 · Participants: 909Employee Stock Ownership Plan for Employees of David Volkert and Associates, Inc. and Sub
Southern Community Bancshares, Inc. ESOP vs. nearby ESOP plans in Alabama, assets vs. participants
Compare Southern Community Bancshares, Inc. ESOP side-by-side with 3 peers →

Southern Community Bancshares, Inc. ESOP's out-of-state ESOP peers by assets and headcount

Outside Alabama, the nearest ESOP by assets is First Security State Bank 401(k) Employee Stock Ownership Plan in IA ($2M); by covered participants it is Zoetewey and Dykstra, an Accountancy Corporation Employee Stock Ownership Plan in CA (3 participants). Same-state nearby plans are listed separately above.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Southern Community Bancshares, Inc. ESOP assets move in 2023? ▼
Southern Community Bancshares, Inc. ESOP contracted severely - down 33.0% during 2023, from $3M to $2M. Reported net income was -$1M.
How have Southern Community Bancshares, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Southern Community Bancshares, Inc.'s sponsor-wide assets grew 8.3%, from $3M to $3M.
Which ESOP plans are similar in size to Southern Community Bancshares, Inc. ESOP? ▼
Among ESOP plans in other states, the closest by assets is First Security State Bank 401(k) Employee Stock Ownership Plan in IA ($2M, 20 participants).
Which ESOP plans cover a similar participant headcount to Southern Community Bancshares, Inc. ESOP? ▼
Among ESOP plans in other states, the closest by covered participants is Zoetewey and Dykstra, an Accountancy Corporation Employee Stock Ownership Plan in CA (3 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 631176408.

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.