STATE BANKSHARES 401(K) PROFIT SHARING PLAN
ERISA Form 5500 plan record drawn from DOL EBSA — verify with linked source filings below.
STATE BANKSHARES, INC.
This 401(k) plan holds $275M in total assets and serves 1,942 participants as of 2023. It is sponsored by STATE BANKSHARES, INC. in North Dakota. The plan reported positive net income of $51M for the year.
What the Filing Says About STATE BANKSHARES 401(K) PROFIT SHARING PLAN
STATE BANKSHARES 401(K) PROFIT SHARING PLAN is a 401(k) retirement plan sponsored by STATE BANKSHARES, INC., headquartered in North Dakota. As of the 2023 Form 5500 filing, the plan reports $275M in total end-of-year assets and covers 1,942 participants across the Finance & Insurance industry. The sponsor's EIN on file with the U.S. Department of Labor is 450412162, and the plan has been effective since 1983-12-20. Its filing status is currently FILING RECEIVED.
Year over year, total assets moved from $224M at the beginning of 2023 to $275M at year-end — a gain of 22.8%. Net assets (after liabilities) closed the year at $275M, with reported net income of $51M driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 2 prior plan-year filings from the same sponsor shown below.
Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows — a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $224M |
| Total Assets (End of Year) | $275M |
| Net Assets (End of Year) | $275M |
| Net Income | $51M |
| Plan Type | 401(k) |
| Employer EIN | 450412162 |
| Plan Effective Date | 1983-12-20 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (STATE BANKSHARES, INC.)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 3,204 | $305M |
| 2023 | 2 | 3,559 | $351M |
| 2024 | 2 | 3,608 | $397M |
Nearby 401(k) Plans in North Dakota
Peer 401(k) plans — same state, same plan type — ranked by total assets.
- SANFORD RETIREMENT SAVINGS PLAN $3.1B · 30,495
- MDU RESOURCES GROUP, INC. 401(K) RETIREMENT PLAN $830M · 8,551
- KNIFE RIVER CORPORATION 401(K) RETIREMENT PLAN $741M · 5,269
- DAKOTAS AREAWIDE IBEW-NECA SAVINGS AND RETIREMENT PLAN $521M · 3,853
- EIDE BAILLY LLP 401(K) PROFIT SHARING PLAN $513M · 2,920
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Frequently Asked Questions
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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 450412162.
Reference: IRS Publication 560 — Retirement Plans for Small Business, contribution-limit rules.
Reference: IRS Publication 590-B — Distributions from IRAs, RMD rules under SECURE Act 2.0.
Read our methodology — how this data is sourced, computed, and verified.