ESOP · DOL Form 5500 · 2023

The Bank of Elk River ESOP

Data updated 2026-08-25

$6M
Total assets Small plan by assets
81
Participants Small participant base
49th
Percentile by assets National rank
$78,776
Avg per participant Below avg balance/head
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Official DOL plan name: The Bank of Elk River Employee Stock Ownership Plan and Trust · Sponsored by The Bank of Elk River · Minnesota · Finance & Insurance

$6M in assets, 81 participants

The Bank of Elk River's The Bank of Elk River Employee Stock Ownership Plan and Trust reported $6M in total assets and 81 participants in its 2023 DOL Form 5500 filing, ranking in the 49th 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.

  • #3,118 in Finance & Insurance (8,869 peers)

2023 asset change

The Bank of Elk River Employee Stock Ownership Plan and Trust grew at a solid clip 12.7% in 2023 ($6M → $6M) for 81 participants.

#3,118
in Finance & Insurance (8,869 peers)
+12.7%
assets growth YoY

The Bank of Elk River Employee Stock Ownership Plan and Trust's mid-pack asset rank among Finance & Insurance and all filers

The Bank of Elk River Employee Stock Ownership Plan and Trust vs every filed plan by assets

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

$6,380,852 49th percentile higher than 49% 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

The Bank of Elk River Employee Stock Ownership Plan and Trust among smaller filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. The Bank of Elk River Employee Stock Ownership Plan and Trust is a small filing (81 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • The Bank of Elk River Employee Stock Ownership Plan and Trust reported net income rose from -$478K in the plan year 2022 filing to $720K in the plan year 2023 filing.
  • The Bank of Elk River Employee Stock Ownership Plan and Trust end-of-year assets rose from $6M in the plan year 2022 filing to $6M in the plan year 2023 filing.
  • The Bank of Elk River Employee Stock Ownership Plan and Trust reported participants fell from 90 in the plan year 2022 filing to 81 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 410138420 · The Bank of Elk River PY 2023 · ESOP

The Bank of Elk River Employee Stock Ownership Plan and Trust · $6M · 81 · 49th

  • EBSA $6M
  • EBSA 81
  • EBSA 49th
  • EBSA ESOP
  • EBSA near Aero Simulation, Inc. Employee Stock Ownership Plan
  • EBSA ind #3118

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 Minnesota →

The Bank of Elk River Employee Stock Ownership Plan and Trust in the asset neighbourhood

The Bank of Elk River Employee Stock Ownership Plan and TrustThe Bank of Elk River Employ…$6MAero Simulation, Inc. Employee Stock Ownership PlanAero Simulation, Inc. Employ…$6MTmi Corporation ESOP$6MBurwood Group, Inc. Employee Stock Ownership PlanBurwood Group, Inc. Employee…$6MGrw Engineers, Inc. Employee Stock Ownership PlanGrw Engineers, Inc. Employee…$6M
End-of-year total assets ($M) among The Bank of Elk River Employee Stock Ownership Plan and Trust and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

The Bank of Elk River years around the 2023 move

Sponsor-wide plan assets over time

All The Bank of Elk River plans reported in each filing year

Latest sponsor-wide plan assets
$6M 6.87166856603193% vs 2022
2024 filing year
$5.5M$6M$6.5M 202220232024 $5.66M $6.05M ▲ +6.9%
Year Plans Participants Total Assets
2022 1 90 $6M
2023 1 81 $6M
2024 1 87 $6M

2023 asset-move particulars

Total Assets (Beginning of Year)$6M
Net Assets (End of Year)$6M
Net Income$720K
Employer EIN410138420
Plan Effective Date1996-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Minnesota

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

The Bank of Elk River Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -5000050001000015000 -20002004006008001000 Total assets ($M) Participants The Bank of Elk River Employee Stock Ownership Plan and Trust, Total assets ($M): 6.380852 · Participants: 81The Bank of Elk River Employee Stock Ownership Plan and TrustAndersen Corporation Employee Stock Ownership Plan, Total assets ($M): 899.073238 · Participants: 11644Andersen Corporation Employee Stock Ownership PlanKingdom Enterprises, Inc. Employee Stock Ownership Plan, Total assets ($M): 497.538965 · Participants: 789Kingdom Enterprises, Inc. Employee Stock Ownership PlanLandscape Structures, Inc. Employee Stock Ownership Plan and Trust, Total assets ($M): 432.374379 · Participants: 446Landscape Structures, Inc. Employee Stock Ownership Plan and TrustHormel Foods Corporation Joint Earnings Profit Sharing Trust, Total assets ($M): 431.874919 · Participants: 4575Hormel Foods Corporation Joint Earnings Profit Sharing TrustForce America Inc. Employee Stock Ownership Plan, Total assets ($M): 426.610266 · Participants: 412Force America Inc. Employee Stock Ownership Plan
The Bank of Elk River Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants
Compare The Bank of Elk River Employee Stock Ownership Plan and Trust side-by-side with 3 peers →

The Bank of Elk River Employee Stock Ownership Plan and Trust's out-of-state ESOP peers by assets and headcount

Outside Minnesota, the nearest ESOP by assets is Aero Simulation, Inc. Employee Stock Ownership Plan in FL ($6M); by covered participants it is Sgh Redglaze Holdings, Inc. Employee Stock Ownership Plan in NE (81 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (81 participants); asset peers above are excluded.

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 The Bank of Elk River Employee Stock Ownership Plan and Trust assets move in 2023? ▼
The Bank of Elk River Employee Stock Ownership Plan and Trust grew at a solid clip - up 12.7% during 2023, from $6M to $6M. Reported net income was $720K.
How have The Bank of Elk River plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), The Bank of Elk River's sponsor-wide assets grew 6.9%, from $6M to $6M.
Which ESOP plans are similar in size to The Bank of Elk River Employee Stock Ownership Plan and Trust? ▼
Among ESOP plans in other states, the closest by assets is Aero Simulation, Inc. Employee Stock Ownership Plan in FL ($6M, 170 participants).
Which ESOP plans cover a similar participant headcount to The Bank of Elk River Employee Stock Ownership Plan and Trust? ▼
Among ESOP plans in other states, the closest by covered participants is Sgh Redglaze Holdings, Inc. Employee Stock Ownership Plan in NE (81 participants, $18M 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 410138420.

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.