ESOP · DOL Form 5500 · 2023

Lake Bank Shares, Inc. ESOP

Data updated 2026-08-25

$17M
Total assets Small plan by assets
24
Participants Small participant base
70th
Percentile by assets National rank
$723,070
Avg per participant High balance/head
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Official DOL plan name: Lake Bank Shares, Inc. Employee Stock Ownership Plan · Sponsored by Lake Bank Shares, Inc. · Minnesota · Finance & Insurance

$17M in assets, 24 participants

Lake Bank Shares, Inc.'s Lake Bank Shares, Inc. Employee Stock Ownership Plan reported $17M in total assets and 24 participants in its 2023 DOL Form 5500 filing, ranking in the 70th 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.

  • #4,944 in Finance & Insurance (8,869 peers)

What the 2023 filing shows

Lake Bank Shares, Inc. Employee Stock Ownership Plan holds $17M for 24 participants - about $723,070 per participant, above the median plan by assets.

#4,944
in Finance & Insurance (8,869 peers)
+7.8%
assets growth YoY

Lake Bank Shares, Inc. Employee Stock Ownership Plan's outsized position by total assets

Lake Bank Shares, Inc. Employee Stock Ownership Plan vs every filed plan by assets

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

$17,353,683 Top 30% higher than 70% 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

Lake Bank Shares, Inc. 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. Lake Bank Shares, Inc. Employee Stock Ownership Plan is a small filing (24 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Lake Bank Shares, Inc. Employee Stock Ownership Plan reported net income fell from $2M in the plan year 2022 filing to $1M in the plan year 2023 filing.
  • Lake Bank Shares, Inc. Employee Stock Ownership Plan end-of-year assets rose from $16M in the plan year 2022 filing to $17M in the plan year 2023 filing.
  • Lake Bank Shares, Inc. Employee Stock Ownership Plan reported participants fell from 26 in the plan year 2022 filing to 24 in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 411569569 · Lake Bank Shares, Inc. PY 2023 · ESOP

Lake Bank Shares, Inc. Employee Stock Ownership Plan · $17M · 24 · 70th

  • PART $17M
  • TYPE 24
  • NET 70th
  • BOOK ESOP
  • VS-ST near Vergith Contracting Company Employee Stock Ownership Plan
  • BOY ind #4944

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 →

Lake Bank Shares, Inc. Employee Stock Ownership Plan in the asset neighbourhood

West Builders, Inc. Employee Stock Ownership PlanWest Builders, Inc. Employee…$17MHsi Sensing Employee Stock Ownership PlanHsi Sensing Employee Stock O…$17MVergith Contracting Company Employee Stock Ownership PlanVergith Contracting Company …$17MLake Bank Shares, Inc. Employee Stock Ownership PlanLake Bank Shares, Inc. Emplo…$17MAmerican Care Partners @ Home, Inc. Employee Stock Ownership PlanAmerican Care Partners @ Hom…$17M
End-of-year total assets ($M) among Lake Bank Shares, Inc. Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Filing particulars (2023)

Total Assets (Beginning of Year)$16M
Net Assets (End of Year)$17M
Net Income$1M
Employer EIN411569569
Plan Effective Date1997-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Lake Bank Shares, Inc.)

Sponsor-wide plan assets over time

All Lake Bank Shares, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$17M 6.032159325806965% vs 2022
2024 filing year
$15.5M$16M$16.5M$17M$17.5M 202220232024 $16.1M $17.1M ▲ +6.0%
Year Plans Participants Total Assets
2022 1 26 $16M
2023 1 24 $17M
2024 1 24 $17M

Nearby ESOP Plans in Minnesota

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

Lake Bank Shares, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -5000050001000015000 -20002004006008001000 Total assets ($M) Participants Lake Bank Shares, Inc. Employee Stock Ownership Plan, Total assets ($M): 17.353683 · Participants: 24Lake Bank Shares, Inc. Employee Stock Ownership PlanAndersen 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
Lake Bank Shares, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in Minnesota, assets vs. participants
Compare Lake Bank Shares, Inc. Employee Stock Ownership Plan side-by-side with 3 peers →

Lake Bank Shares, Inc. Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside Minnesota, the nearest ESOP by assets is Vergith Contracting Company Employee Stock Ownership Plan in NV ($17M); by covered participants it is Valador, Inc. Employee Stock Bonus Plan in WV (24 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (24 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 Lake Bank Shares, Inc. Employee Stock Ownership Plan assets move in 2023? ▼
Lake Bank Shares, Inc. Employee Stock Ownership Plan grew at a solid clip - up 7.8% during 2023, from $16M to $17M. Reported net income was $1M.
How have Lake Bank Shares, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Lake Bank Shares, Inc.'s sponsor-wide assets grew 6.0%, from $16M to $17M.
Which ESOP plans are similar in size to Lake Bank Shares, Inc. Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Vergith Contracting Company Employee Stock Ownership Plan in NV ($17M, 36 participants).
Which ESOP plans cover a similar participant headcount to Lake Bank Shares, Inc. Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Valador, Inc. Employee Stock Bonus Plan in WV (24 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 411569569.

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.