ESOP · DOL Form 5500 · 2023

Lake Elmo Bank ESOP

Data updated 2026-08-25

$10M
Total assets Small plan by assets
91
Participants Small participant base
58th
Percentile by assets National rank
$108,564
Avg per participant Below avg balance/head
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Official DOL plan name: Lake Elmo Bank Employee Stock Ownership Plan · Sponsored by Lake Elmo Bank · Minnesota · Finance & Insurance

$10M in assets, 91 participants

Lake Elmo Bank's Lake Elmo Bank Employee Stock Ownership Plan reported $10M in total assets and 91 participants in its 2023 DOL Form 5500 filing, ranking in the 58th 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.

  • #3,825 in Finance & Insurance (8,869 peers)

Lake Elmo Bank multi-year trail

Lake Elmo Bank's plans moved -57.1% in assets from 2022 to 2024; this filing shows Lake Elmo Bank Employee Stock Ownership Plan at $10M / 91 participants.

#3,825
in Finance & Insurance (8,869 peers)
-4.8%
assets change YoY

The plan reported a net loss of $495K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Lake Elmo Bank Employee Stock Ownership Plan's mid-pack asset rank among Finance & Insurance and all filers

Lake Elmo Bank Employee Stock Ownership Plan vs every filed plan by assets

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

$9,879,335 Top 42% higher than 58% 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 Elmo Bank 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 Elmo Bank Employee Stock Ownership Plan is a small filing (91 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Lake Elmo Bank Employee Stock Ownership Plan reported net income fell from $706K in the plan year 2022 filing to -$495K in the plan year 2023 filing.
  • Lake Elmo Bank Employee Stock Ownership Plan reported participants fell from 99 in the plan year 2022 filing to 91 in the plan year 2023 filing.
  • Lake Elmo Bank Employee Stock Ownership Plan end-of-year assets fell from $10M in the plan year 2022 filing to $10M in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 410557070 · Lake Elmo Bank PY 2023 · ESOP

Lake Elmo Bank Employee Stock Ownership Plan · $10M · 91 · 58th

  • EOY $10M
  • EOY 91
  • EOY 58th
  • EOY ESOP
  • EOY near Lea Elliott, Inc. Employee Stock Ownership Plan
  • EOY ind #3825

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 Elmo Bank Employee Stock Ownership Plan in the asset neighbourhood

American Asphalt Company, Inc. Employee Stock Ownership PlanAmerican Asphalt Company, In…$10MLake Elmo Bank Employee Stock Ownership PlanLake Elmo Bank Employee Stoc…$10MLea Elliott, Inc. Employee Stock Ownership PlanLea Elliott, Inc. Employee S…$10MInnotion Enterprises, Inc. Employee Stock Ownership PlanInnotion Enterprises, Inc. E…$10MPage Southerland Page, Inc. Employee Stock Ownership PlanPage Southerland Page, Inc. …$10M
End-of-year total assets ($M) among Lake Elmo Bank Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Lake Elmo Bank multi-year asset trail

Sponsor-wide plan assets over time

All Lake Elmo Bank plans reported in each filing year

Latest sponsor-wide plan assets
$10M 57.12711592097991% vs 2022
2024 filing year
$5M$10M$15M$20M$25M 202220232024 $23.3M $10M ▼ -57.1%
Year Plans Participants Total Assets
2022 2 196 $23M
2023 2 179 $24M
2024 1 88 $10M

Lake Elmo Bank filing trail (2023)

Total Assets (Beginning of Year)$10M
Net Assets (End of Year)$10M
Net Income-$495K
Employer EIN410557070
Plan Effective Date1998-10-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Minnesota

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

Lake Elmo Bank Employee Stock Ownership Plan vs. nearby ESOP plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -5000050001000015000 -20002004006008001000 Total assets ($M) Participants Lake Elmo Bank Employee Stock Ownership Plan, Total assets ($M): 9.879335 · Participants: 91Lake Elmo Bank 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 Elmo Bank Employee Stock Ownership Plan vs. nearby ESOP plans in Minnesota, assets vs. participants
Compare Lake Elmo Bank Employee Stock Ownership Plan side-by-side with 3 peers →

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

Outside Minnesota, the nearest ESOP by assets is Lea Elliott, Inc. Employee Stock Ownership Plan in VA ($10M); by covered participants it is West Plains Bancshares Employee Stock Ownership Plan in MO (91 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (91 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 Elmo Bank Employee Stock Ownership Plan assets move in 2023? ▼
Lake Elmo Bank Employee Stock Ownership Plan edged down modestly - down 4.8% during 2023, from $10M to $10M. Reported net income was -$495K.
How have Lake Elmo Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Lake Elmo Bank's sponsor-wide assets declined 57.1%, from $23M to $10M.
Which ESOP plans are similar in size to Lake Elmo Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Lea Elliott, Inc. Employee Stock Ownership Plan in VA ($10M, 111 participants).
Which ESOP plans cover a similar participant headcount to Lake Elmo Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is West Plains Bancshares Employee Stock Ownership Plan in MO (91 participants, $2M 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 410557070.

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.