ESOP · DOL Form 5500 · 2023
Blue Foundry Bank ESOP
Data updated 2026-08-11
- $22M
- Total assets
- 103
- Participants
- 74th
- Percentile by assets
- $213,425
- Avg per participant
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.
- 74th percentile by assets (of 127,072 plans)
- #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.
- $22M
- total plan assets (2023 EOY)
- 103
- covered participants
- 74th
- percentile by assets (of 127,072 plans)
- $213,425
- avg assets per participant
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.
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.
Participants vs New Jersey filers
In New Jersey, the average filing covers about 844 participants across 4,145 plans. Blue Foundry Bank Employee Stock Ownership Plan reports 103 participants - about 12% of that state average ($22M EOY assets).
New Jersey filing particulars
| Total Assets (Beginning of Year) | $29M |
|---|---|
| Net Assets (End of Year) | $1M |
| Net Income | -$7M |
| Employer EIN | 220780922 |
| Plan Effective Date | 2021-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Blue Foundry Bank)
| 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
- Okonite Company Employees Stock Ownership Plan $421M · 1,127
- Mathematica Group Holding Inc. Employee Stock Ownership Plan $309M · 1,571
- Conair LLC Savings and Investment Plan $301M · 1,050
- Amboy Bancorporation Employee Stock Ownership Plan $107M · 193
- Columbia Bank Employee Stock Ownership Plan $86M · 729
Similar-Sized ESOP Plans Nationally
ESOP plans in other states closest to Blue Foundry Bank Employee Stock Ownership Plan by total assets, not by location.
Frequently Asked Questions
How did Blue Foundry Bank Employee Stock Ownership Plan assets move in 2023? ▼
How have Blue Foundry Bank plan assets changed over time? ▼
Which ESOP plans are similar in size to Blue Foundry Bank Employee Stock Ownership Plan? ▼
Next read for Blue Foundry Bank Employee Stock Ownersh…
Filing takeaways
Ways to act on Blue Foundry Bank Employee Stock Ownership Plan's numbers.
- By total assets, Blue Foundry Bank Employee Stock Ownership Plan ranks above the median plan by assets. See the largest plans
- Compare it side-by-side against 3 similar ESOP plans in New Jersey. Compare plans
- Blue Foundry Bank's sponsor-wide assets have declined 7.9% since 2022 across 3 plan years on file. More Finance & Insurance plans