ESOP · DOL Form 5500 · 2023

First Freedom Bancshares ESOP

Data updated 2026-08-25

$5M
Total assets Small plan by assets
59
Participants Small participant base
44th
Percentile by assets National rank
$83,929
Avg per participant Below avg balance/head
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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.

  • #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.

#2,770
in Finance & Insurance (8,869 peers)
+2.1%
assets growth YoY

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.

First Freedom Bancshares Employee Stock Ownership Plan's mid-pack asset rank among Finance & Insurance and all filers

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 $2,050,000,000 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

First Freedom Bancshares Employee Stock Ownership Plan among smaller filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. First Freedom Bancshares Employee Stock Ownership Plan is a small filing (59 participants) on this national headcount ladder.

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 →

EBSA filing schedule strip

Filing strip 263516509 · First Freedom Bancshares PY 2023 · ESOP

First Freedom Bancshares Employee Stock Ownership Plan · $5M · 59 · 44th

  • PCT $5M
  • PCT 59
  • PCT 44th
  • PCT ESOP
  • PCT near Spreuer & Son, Inc. Employee Stock Ownership Plan and Trust
  • PCT ind #2770

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 Tennessee →

First Freedom Bancshares Employee Stock Ownership Plan in the asset neighbourhood

Geiger Brothers, Inc. Employee Stock Ownership PlanGeiger Brothers, Inc. Employ…$5MFirst Freedom Bancshares Employee Stock Ownership PlanFirst Freedom Bancshares Emp…$5MSpreuer & Son, Inc. Employee Stock Ownership Plan and TrustSpreuer & Son, Inc. Employee…$5MGolden State Contract Flooring, Inc. Employee Stock Ownership Plan and TrustGolden State Contract Floori…$5MGearmore Inc., Employee Stock Ownership PlanGearmore Inc., Employee Stoc…$5M
End-of-year total assets ($M) among First Freedom Bancshares Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

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)

Sponsor-wide plan assets over time

All First Freedom Bancshares plans reported in each filing year

Latest sponsor-wide plan assets
$5M 9.87056237421228% vs 2022
2024 filing year
$4.8M$5M$5.2M$5.4M 202220232024 $4.85M $5.33M ▲ +9.9%
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 ($M) Participants First Freedom Bancshares Employee Stock Ownership Plan, Total assets ($M): 4.95182 · Participants: 59First Freedom Bancshares Employee Stock Ownership PlanBarr Brands International Amended and Restated Employee Stock Ownership Plan, Total assets ($M): 426.710102 · Participants: 401Barr Brands International Amended and Restated Employee Stock Ownership PlanZander Group Holdings, Inc. Employee Stock Ownership Plan, Total assets ($M): 221.11771 · Participants: 190Zander Group Holdings, Inc. Employee Stock Ownership PlanNational Health Corp Leveraged Employee Stock Ownership Plan, Total assets ($M): 144.306423 · Participants: 1470National Health Corp Leveraged Employee Stock Ownership Plan3ls, Inc. Employee Stock Ownership Plan, Total assets ($M): 133.506002 · Participants: 4243ls, Inc. Employee Stock Ownership PlanSmith Seckman Reid, Inc. Employee Stock Ownership Plan, Total assets ($M): 99.459001 · Participants: 483Smith Seckman Reid, Inc. Employee Stock Ownership Plan
First Freedom Bancshares Employee Stock Ownership Plan vs. nearby ESOP plans in Tennessee, assets vs. participants
Compare First Freedom Bancshares Employee Stock Ownership Plan side-by-side with 3 peers →

First Freedom Bancshares Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside Tennessee, the nearest ESOP by assets is Spreuer & Son, Inc. Employee Stock Ownership Plan and Trust in IN ($5M); by covered participants it is Generations Bank Employee Stock Ownership Plan in NY (59 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (59 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 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).
Which ESOP plans cover a similar participant headcount to First Freedom Bancshares Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Generations Bank Employee Stock Ownership Plan in NY (59 participants, $1M 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 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.