ESOP · DOL Form 5500 · 2023
Stearns Financial Services, Inc. ESOP
Data updated 2026-08-25
- $132M
- Total assets Near avg plan size
- 494
- Participants Below avg headcount
- 93rd
- Percentile by assets National rank
- $267,186
- Avg per participant High balance/head
Official DOL plan name: Stearns Financial Services, Inc. Employee Stock Ownership Plan · Sponsored by Stearns Financial Services, Inc. · Minnesota · Management of Enterprises
$132M in assets, 494 participants
Stearns Financial Services, Inc.'s Stearns Financial Services, Inc. Employee Stock Ownership Plan reported $132M in total assets and 494 participants in its 2023 DOL Form 5500 filing, ranking in the 93rd 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.
- #899 in Management of Enterprises (1,137 peers)
Coverage in Minnesota
Stearns Financial Services, Inc. Employee Stock Ownership Plan covers 494 participants in Minnesota, about 44% of the average Minnesota filer (state average ~1,126 per filing). Assets: $132M.
- #899
- in Management of Enterprises (1,137 peers)
- -7.8%
- assets change YoY
- 1.3×
- vs typical plan assets (national mean)
The plan reported a net loss of $9M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Stearns Financial Services, Inc. Employee Stock Ownership Plan's outsized position by total assets
Stearns Financial Services, Inc. Employee Stock Ownership Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$131,989,713 Top 7% higher than 93% 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
Stearns Financial Services, Inc. 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. Stearns Financial Services, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (494 participants).
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Stearns Financial Services, Inc. Employee Stock Ownership Plan reported net income fell from $24M in the plan year 2022 filing to -$9M in the plan year 2023 filing.
- Stearns Financial Services, Inc. Employee Stock Ownership Plan end-of-year assets fell from $143M in the plan year 2022 filing to $132M in the plan year 2023 filing.
- Stearns Financial Services, Inc. Employee Stock Ownership Plan reported participants fell from 511 in the plan year 2022 filing to 494 in the plan year 2023 filing.
EBSA filing schedule strip
Filing strip 411655119 · Stearns Financial Services, Inc. PY 2023 · ESOP
Stearns Financial Services, Inc. Employee Stock Ownership Plan · $132M · 494 · 93rd
- VS-ST $132M
- VS-ST 494
- VS-ST 93rd
- VS-ST ESOP
- VS-ST near Harrell's Employee Stock Ownership Plan
- VS-ST ind #899
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 →
Stearns Financial Services, Inc. Employee Stock Ownership Plan in the asset neighbourhood
Minnesota filing particulars
| Total Assets (Beginning of Year) | $143M |
|---|---|
| Net Assets (End of Year) | $109M |
| Net Income | -$9M |
| Employer EIN | 411655119 |
| Plan Effective Date | 1984-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Stearns Financial Services, Inc.)
Sponsor-wide plan assets over time
All Stearns Financial Services, Inc. plans reported in each filing year
- Latest sponsor-wide plan assets
- $181M 9.238791178114727% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 972 | $165M |
| 2023 | 2 | 963 | $161M |
| 2024 | 2 | 1,001 | $181M |
Nearby ESOP Plans in Minnesota
Peer ESOP plans, same state, same plan type, ranked by total assets.
- 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
Stearns Financial Services, Inc. Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount
Outside Minnesota, the nearest ESOP by assets is Harrell's Employee Stock Ownership Plan in FL ($132M); by covered participants it is Marshall & Sterling Enterprises, Inc. Employee Stock Ownership Plan in NY (494 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($132M here).
Similar participant headcount
Nearest other-state filings by covered participants (494 participants); asset peers above are excluded.
- Marshall & Sterling Enterprises, Inc. Employee Stock Ownership Plan (NY) 494 · 0 off
- Pavement Recycling Systems, Inc. Employee Stock Ownership Plan (CA) 495 · 1 off
- Donley Companies, Inc. Employee Stock Ownership Plan (OH) 492 · 2 off
- World Travel, Inc. Employee Stock Ownership Plan (PA) 497 · 3 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.