ESOP · DOL Form 5500 · 2023

First Freedom Bancshares ESOP

Data updated 2026-08-11

$5M
Total assets
59
Participants
44th
Percentile by assets
$83,929
Avg per participant
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Official DOL plan name: First Freedom Bancshares Employee Stock Ownership Plan · Sponsored by First Freedom Bancshares · Tennessee · Finance & Insurance

$5M in assets, 59 participants

First Freedom Bancshares's First Freedom Bancshares Employee Stock Ownership Plan reported $5M in total assets and 59 participants in its 2023 DOL Form 5500 filing, ranking in the 44th 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.

  • 44th percentile by assets (of 127,072 plans)
  • #2,770 in Finance & Insurance (8,869 peers)

What the 2023 filing shows

First Freedom Bancshares Employee Stock Ownership Plan holds $5M for 59 participants - about $83,929 per participant, in the lower half of filed plans by assets.

$5M
total plan assets (2023 EOY)
59
covered participants
44th
percentile by assets (of 127,072 plans)
$83,929
avg assets per participant

The plan reported a net loss of $22K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Where First Freedom Bancshares Employee Stock Ownership Plan sits by total assets

First Freedom Bancshares Employee Stock Ownership Plan vs every filed plan by assets

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

$4,951,820 44th percentile higher than 44% 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

  • First Freedom Bancshares Employee Stock Ownership Plan reported net income fell from $748K in the plan year 2022 filing to -$22K in the plan year 2023 filing.
  • First Freedom Bancshares Employee Stock Ownership Plan reported participants rose from 56 in the plan year 2022 filing to 59 in the plan year 2023 filing.
  • First Freedom Bancshares Employee Stock Ownership Plan end-of-year assets rose from $5M in the plan year 2022 filing to $5M in the plan year 2023 filing.

See the national 2022→2023 release diff →

State
Tennessee
Industry
Finance & Insurance

ESOP filing for First Freedom Bancshares Employee Stock Ownership Plan

ESOP filing for plan year 2023: EIN 263516509 ; effective since 2013-01-01 ; filing status FILING RECEIVED. Verify the certified figures on DOL EFAST2.

Filing particulars (2023)

Total Assets (Beginning of Year)$5M
Net Assets (End of Year)$5M
Net Income-$22K
Employer EIN263516509
Plan Effective Date2013-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (First Freedom Bancshares)

$4.8M$5M$5.2M$5.4M 202220232024 $4.85M $5.33M ▲ +9.9%
Total plan assets by year, all First Freedom Bancshares plans on file
Year Plans Participants Total Assets
2022 1 56 $5M
2023 1 59 $5M
2024 1 65 $5M

Nearby ESOP Plans in Tennessee

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

First Freedom Bancshares Employee Stock Ownership Plan vs. nearby ESOP plans in Tennessee, assets vs. participants Scatter plot of 6 data points. -5000500100015002000 -1000100200300400500 Total assets ($M) Participants First Freedom Bancsh…, Total assets ($M): 4.95182 · Participants: 59First Freedom Bancsh…Barr Brands Internat…, Total assets ($M): 426.710102 · Participants: 401Barr Brands Internat…Zander Group Holding…, Total assets ($M): 221.11771 · Participants: 190Zander Group Holding…National Health Corp…, Total assets ($M): 144.306423 · Participants: 1470National Health Corp…3ls, Inc. Employee S…, Total assets ($M): 133.506002 · Participants: 4243ls, Inc. Employee S…Smith Seckman Reid, …, Total assets ($M): 99.459001 · Participants: 483Smith Seckman Reid, …
First Freedom Bancshares Employee Stock Ownership Plan vs. nearby ESOP plans in Tennessee, assets vs. participants
Compare First Freedom Bancshares Employee Stock … side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to First Freedom Bancshares Employee Stock Ownership Plan by total assets, not by location.

Frequently Asked Questions

How did First Freedom Bancshares Employee Stock Ownership Plan assets move in 2023? ▼
First Freedom Bancshares Employee Stock Ownership Plan edged up modestly - up 2.1% during 2023, from $5M to $5M. Reported net income was -$22K.
How have First Freedom Bancshares plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), First Freedom Bancshares's sponsor-wide assets grew 9.9%, from $5M to $5M.
Which ESOP plans are similar in size to First Freedom Bancshares Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Spreuer & Son, Inc. Employee Stock Ownership Plan and Trust in IN ($5M, 24 participants).

Next read for First Freedom Bancshares Employee Stock …

Filing takeaways

Ways to act on First Freedom Bancshares Employee Stock Ownership 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 263516509.

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.