ESOP · DOL Form 5500 · 2023

Blue Foundry Bank ESOP

Data updated 2026-08-25

$22M
Total assets Small plan by assets
103
Participants Small participant base
74th
Percentile by assets National rank
$213,425
Avg per participant Above avg balance/head
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Official DOL plan name: Blue Foundry Bank Employee Stock Ownership Plan · Sponsored by Blue Foundry Bank · New Jersey · Finance & Insurance

$22M in assets, 103 participants

Blue Foundry Bank's Blue Foundry Bank Employee Stock Ownership Plan reported $22M in total assets and 103 participants in its 2023 DOL Form 5500 filing, ranking in the 74th 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.

  • #5,445 in Finance & Insurance (8,869 peers)

Coverage in New Jersey

Blue Foundry Bank Employee Stock Ownership Plan covers 103 participants in New Jersey, about 12% of the average New Jersey filer (state average ~844 per filing). Assets: $22M.

#5,445
in Finance & Insurance (8,869 peers)
-25.0%
assets change YoY

The plan reported a net loss of $7M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Blue Foundry Bank Employee Stock Ownership Plan's outsized position by total assets

Blue Foundry Bank Employee Stock Ownership Plan vs every filed plan by assets

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

$21,982,802 Top 26% higher than 74% 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

Blue Foundry Bank Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Blue Foundry Bank Employee Stock Ownership Plan sits mid-pack in the medium band (103 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Blue Foundry Bank Employee Stock Ownership Plan reported net income fell from -$3M in the plan year 2022 filing to -$7M in the plan year 2023 filing.
  • Blue Foundry Bank Employee Stock Ownership Plan end-of-year assets fell from $29M in the plan year 2022 filing to $22M in the plan year 2023 filing.
  • Blue Foundry Bank Employee Stock Ownership Plan reported participants fell from 105 in the plan year 2022 filing to 103 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 220780922 · Blue Foundry Bank PY 2023 · ESOP

Blue Foundry Bank Employee Stock Ownership Plan · $22M · 103 · 74th

  • TYPE $22M
  • NET 103
  • BOOK 74th
  • VS-ST ESOP
  • BOY near First Neighborhood Bancshares, Inc. Employee Stock Ownership Plan
  • SCH ind #5445

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 New Jersey →

Blue Foundry Bank Employee Stock Ownership Plan in the asset neighbourhood

Sagaya Corporation Employee Stock Ownership PlanSagaya Corporation Employee …$22MBlue Foundry Bank Employee Stock Ownership PlanBlue Foundry Bank Employee S…$22MFirst Neighborhood Bancshares, Inc. Employee Stock Ownership PlanFirst Neighborhood Bancshare…$22MAllen Agency Employee Stock Ownership PlanAllen Agency Employee Stock …$22MZiebart International Corporation Employee Stock Ownership PlanZiebart International Corpor…$22M
End-of-year total assets ($M) among Blue Foundry Bank Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

New Jersey filing particulars

Total Assets (Beginning of Year)$29M
Net Assets (End of Year)$1M
Net Income-$7M
Employer EIN220780922
Plan Effective Date2021-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Blue Foundry Bank)

Sponsor-wide plan assets over time

All Blue Foundry Bank plans reported in each filing year

Latest sponsor-wide plan assets
$41M 7.919177659748998% vs 2022
2024 filing year
$36M$38M$40M$42M$44M$46M 202220232024 $44.3M $40.8M ▼ -7.9%
Year Plans Participants Total Assets
2022 2 280 $44M
2023 2 298 $39M
2024 2 317 $41M

Nearby ESOP Plans in New Jersey

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

Blue Foundry Bank Employee Stock Ownership Plan vs. nearby ESOP plans in New Jersey, assets vs. participants Scatter plot of 6 data points. 0500100015002000 0100200300400500 Total assets ($M) Participants Blue Foundry Bank Employee Stock Ownership Plan, Total assets ($M): 21.982802 · Participants: 103Blue Foundry Bank Employee Stock Ownership PlanOkonite Company Employees Stock Ownership Plan, Total assets ($M): 420.904787 · Participants: 1127Okonite Company Employees Stock Ownership PlanMathematica Group Holding Inc. Employee Stock Ownership Plan, Total assets ($M): 309.109417 · Participants: 1571Mathematica Group Holding Inc. Employee Stock Ownership PlanConair LLC Savings and Investment Plan, Total assets ($M): 300.696739 · Participants: 1050Conair LLC Savings and Investment PlanAmboy Bancorporation Employee Stock Ownership Plan, Total assets ($M): 106.542135 · Participants: 193Amboy Bancorporation Employee Stock Ownership PlanColumbia Bank Employee Stock Ownership Plan, Total assets ($M): 85.571031 · Participants: 729Columbia Bank Employee Stock Ownership Plan
Blue Foundry Bank Employee Stock Ownership Plan vs. nearby ESOP plans in New Jersey, assets vs. participants
Compare Blue Foundry Bank Employee Stock Ownership Plan side-by-side with 3 peers →

Blue Foundry Bank Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside New Jersey, the nearest ESOP by assets is First Neighborhood Bancshares, Inc. Employee Stock Ownership Plan in IL ($22M); by covered participants it is Dak Enterprises, Inc. Employee Stock Ownership Plan in OH (103 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (103 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 Blue Foundry Bank Employee Stock Ownership Plan assets move in 2023? ▼
Blue Foundry Bank Employee Stock Ownership Plan declined sharply - down 25.0% during 2023, from $29M to $22M. Reported net income was -$7M.
How have Blue Foundry Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Blue Foundry Bank's sponsor-wide assets declined 7.9%, from $44M to $41M.
Which ESOP plans are similar in size to Blue Foundry Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is First Neighborhood Bancshares, Inc. Employee Stock Ownership Plan in IL ($22M, 102 participants).
Which ESOP plans cover a similar participant headcount to Blue Foundry Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Dak Enterprises, Inc. Employee Stock Ownership Plan in OH (103 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 220780922.

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.