401(k) · DOL Form 5500 · 2023

Independent Bank 401(k) Plan

Data updated 2026-08-11

$118M
Total assets
1,451
Participants
92nd
Percentile by assets
$81,471
Avg per participant
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Official DOL plan name: Independent Financial 401(k) Profit Sharing Plan · Sponsored by Independent Bank · Texas · Finance & Insurance

$118M in assets, 1,451 participants

Independent Bank's Independent Financial 401(k) Profit Sharing Plan reported $118M in total assets and 1,451 participants in its 2023 DOL Form 5500 filing, ranking in the 92nd 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.

  • 92nd percentile by assets (of 127,072 plans)
  • #7,815 in Finance & Insurance (8,869 peers)

Coverage in Texas

Independent Financial 401(k) Profit Sharing Plan covers 1,451 participants in Texas, 2.1x the typical Texas plan (state average ~688 per filing). Assets: $118M.

$118M
total plan assets (2023 EOY)
1,451
covered participants
92nd
percentile by assets (of 127,072 plans)
$81,471
avg assets per participant

Where Independent Financial 401(k) Profit Sharing Plan sits by total assets

Independent Financial 401(k) Profit Sharing Plan vs every filed plan by assets

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

$118,215,103 Top 8% higher than 92% of 127,068 filed plans

This plan $0 $2,010,000,000 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

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Independent Financial 401(k) Profit Sharing Plan reported net income rose from -$13M in the plan year 2022 filing to $13M in the plan year 2023 filing.
  • Independent Financial 401(k) Profit Sharing Plan end-of-year assets rose from $105M in the plan year 2022 filing to $118M in the plan year 2023 filing.
  • Independent Financial 401(k) Profit Sharing Plan reported participants fell from 1,508 in the plan year 2022 filing to 1,451 in the plan year 2023 filing.

See the national 2022→2023 release diff →

State
Texas
Industry
Finance & Insurance

Participants vs Texas filers

In Texas, the average filing covers about 688 participants across 10,116 plans. Independent Financial 401(k) Profit Sharing Plan reports 1,451 participants - 2.1x that state average ($118M EOY assets).

Texas filing particulars

Total Assets (Beginning of Year)$105M
Net Assets (End of Year)$118M
Net Income$13M
Employer EIN752694563
Plan Effective Date1994-03-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Independent Bank)

$100M$120M$140M$160M 202220232024 $105M $143M ▲ +35.8%
Total plan assets by year, all Independent Bank plans on file
Year Plans Participants Total Assets
2022 1 1,508 $105M
2023 1 1,451 $118M
2024 1 1,443 $143M

Nearby 401(k) Plans in Texas

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

Independent Financial 401(k) Profit Sharing Plan vs. nearby 401(k) plans in Texas, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000 -1001020304050 Total assets ($B) Participants Independent Financia…, Total assets ($B): 0.118215103 · Participants: 1451Independent Financia…AT&T Retirement Savi…, Total assets ($B): 40.012012 · Participants: 119854AT&T Retirement Savi…Exxonmobil Savings P…, Total assets ($B): 21.917 · Participants: 23477Exxonmobil Savings P…Caterpillar 401(k) S…, Total assets ($B): 16.496476432 · Participants: 41679Caterpillar 401(k) S…American Airlines, I…, Total assets ($B): 14.680189879 · Participants: 88792American Airlines, I…Dell Inc. 401(k) Plan, Total assets ($B): 13.529835 · Participants: 45686Dell Inc. 401(k) Plan
Independent Financial 401(k) Profit Sharing Plan vs. nearby 401(k) plans in Texas, assets vs. participants
Compare Independent Financial 401(k) Profit Shar… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Independent Financial 401(k) Profit Sharing Plan by total assets, not by location.

Frequently Asked Questions

How did Independent Financial 401(k) Profit Sharing Plan assets move in 2023? ▼
Independent Financial 401(k) Profit Sharing Plan grew at a solid clip - up 12.3% during 2023, from $105M to $118M. Reported net income was $13M.
How have Independent Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Independent Bank's sponsor-wide assets grew 35.8%, from $105M to $143M.
Where does Independent Financial 401(k) Profit Sharing Plan rank by assets among Form 5500 filers? ▼
Independent Financial 401(k) Profit Sharing Plan ranks in the 92nd percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Independent Financial 401(k) Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by assets is Retirement Savings Plan for Employees of Seacoast National Bank in FL ($118M, 1,433 participants).

Next read for Independent Financial 401(k) Profit Shar…

Filing takeaways

Ways to act on Independent Financial 401(k) Profit Sharing Plan's numbers.

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 752694563.

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.