ESOP · DOL Form 5500 · 2023

Heritage Bancshares Group, Inc. ESOP

Data updated 2026-08-11

$12M
Total assets: 90
Participants: 62nd
Percentile by assets: $128,671
Avg per participant

Official DOL plan name: Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust · Sponsored by Heritage Bancshares Group, Inc. · Minnesota · Management of Enterprises

$12M in assets, 90 participants

Heritage Bancshares Group, Inc.'s Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust reported $12M in total assets and 90 participants in its 2023 DOL Form 5500 filing, ranking in the 62nd 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.

62nd percentile by assets (of 127,072 plans)
#462 in Management of Enterprises (1,137 peers)

Management of Enterprises sector rank

Within Management of Enterprises, Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust ranks #462 of 1,137 2023 filers by assets (3070% of the sector average)-$12M for 90 participants.

$12M
total plan assets (2023 EOY): 90
covered participants: 62nd
percentile by assets (of 127,072 plans): $128,671
avg assets per participant

The plan reported a net loss of $2M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Where Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust sits by total assets

Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust vs every filed plan by assets

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

$11,580,373 Top 38% higher than 62% of 127,068 filed plans

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust reported net income fell from $791K in the plan year 2022 filing to -$2M in the plan year 2023 filing.
Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust reported participants fell from 101 in the plan year 2022 filing to 90 in the plan year 2023 filing.
Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust end-of-year assets fell from $12M in the plan year 2022 filing to $12M in the plan year 2023 filing.

See the national 2022→2023 release diff →

State

Minnesota

Industry

Management of Enterprises

Rank #462 in Management of Enterprises

Among 1,137 Management of Enterprises plans that filed a Form 5500 for plan year 2023, Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust ranks #462 by end-of-year assets - about 3070% of the sector average of $356M. Nationally it sits in the 62nd percentile, a weaker position within its industry than across all filers.

Management of Enterprises filing particulars

Total Assets (Beginning of Year)	$12M
Net Assets (End of Year)	$11M
Net Income	-$2M
Employer EIN	411768838
Plan Effective Date	2014-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Heritage Bancshares Group, Inc.)

Total plan assets by year, all Heritage Bancshares Group, Inc. plans on file

Year	Plans	Participants	Total Assets
2022	2	250	$24M
2023	2	197	$25M
2024	2	178	$21M

Nearby ESOP Plans in Minnesota

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

Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants

Andersen Corporation Employee Stock Ownership Plan $899M · 11,644
Kingdom Enterprises, Inc. Employee Stock Ownership Plan $498M · 789
Landscape Structures, Inc. Employee Stock Ownership Plan and Trust $432M · 446
Hormel Foods Corporation Joint Earnings Profit Sharing Trust $432M · 4,575
Force America Inc. Employee Stock Ownership Plan $427M · 412

Compare Heritage Bancshares Group, Inc. Employee… side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust by total assets, not by location.

Ramey Kemp & Associates, Inc. Employee Stock Ownership Plan (NC) $12M · 56
R3 Employee Stock Ownership Plan (CA) $12M · 153
Torgeson Electric Company Employee Stock Ownership Plan (KS) $12M · 89
Mcgowan Working Partners Holdings, Inc. Employee Stock Ownership Plan (MS) $12M · 98

Frequently Asked Questions

How did Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust assets move in 2023? ▼

Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust edged down modestly - down 4.4% during 2023, from $12M to $12M. Reported net income was -$2M.

How have Heritage Bancshares Group, Inc. plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Heritage Bancshares Group, Inc.'s sponsor-wide assets declined 15.0%, from $24M to $21M.

Which ESOP plans are similar in size to Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust? ▼

Among ESOP plans in other states, the closest by assets is Ramey Kemp & Associates, Inc. Employee Stock Ownership Plan in NC ($12M, 56 participants).

Next read for Heritage Bancshares Group, Inc. Employee…

Filing takeaways

Ways to act on Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust's numbers.

By total assets, Heritage Bancshares Group, Inc. Employee Stock Ownership Plan and Trust ranks above the median plan by assets. See the largest plans
Compare it side-by-side against 3 similar ESOP plans in Minnesota. Compare plans
Heritage Bancshares Group, Inc.'s sponsor-wide assets have declined 15.0% since 2022 across 3 plan years on file. More Management of Enterprises plans

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 411768838.