Other · DOL Form 5500 · 2023
State Bankshares Employee Stock Ownership Plan and Trust
Data updated 2026-05-15
- $76M
- Total assets
- 1,617
- Participants
- 89th
- Percentile by assets
- $46,840
- Avg per participant
Sponsored by State Bankshares, Inc. · North Dakota · Finance & Insurance
What the 2023 filing shows
State Bankshares Employee Stock Ownership Plan and Trust holds $76M for 1,617 participants - about $46,840 per participant, in the top quartile of all filed plans by assets, down 6.0% over the 2023 plan year.
- $76M
- total plan assets (2023 EOY)
- 1,617
- covered participants
- 89th
- percentile by assets (of 126,618 plans)
- $46,840
- avg assets per participant
The plan reported a net loss of $5M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Other · DOL Form 5500 · 2023
What the Filing Says About State Bankshares Employee Stock Ownership Plan and Trust
State Bankshares Employee Stock Ownership Plan and Trust is an Other retirement plan sponsored by State Bankshares, Inc., headquartered in North Dakota. According to the U.S. Department of Labor's 2023 Form 5500 filing, the plan reports $76M in total end-of-year assets and covers 1,617 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 2016-01-01. Its filing status is currently FILING RECEIVED.
Year over year, total assets pulled back noticeably from $81M at the beginning of 2023 to $76M at year-end - down 6.0%. Net assets (after liabilities) closed the year at $76M, with reported net income of -$5M 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.
Across the 3 plan years State Bankshares, Inc. has on file with PlainRetire (2022-2024), sponsor-wide plan assets have moved from $305M to $397M, a gain of 30.4%, while reported participants moved from 3,204 to 3,608 (+12.6%). The strongest year on file by total sponsor assets was 2024 at $397M; the softest was 2022 at $305M. Year-by-year, sponsor-wide filings show: 2022 - $305M in assets across 2 plans covering 3,204 participants; 2023 - $351M in assets across 2 plans covering 3,559 participants; 2024 - $397M in assets across 2 plans covering 3,608 participants.
By assets, State Bankshares Employee Stock Ownership Plan and Trust outranks 89% of the 126,618 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 0.8x the national average plan size of $100M and 730 average participants.
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.
How the percentile is calculated: we count every plan that filed a 2023 Form 5500 with a reported end-of-year asset figure (126,618 plans), rank State Bankshares Employee Stock Ownership Plan and Trust against all of them by total assets, and report the share of those plans it outranks. A plan reporting no asset figure for the year is excluded from the ranking rather than assumed to be zero.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $81M |
|---|---|
| Total Assets (End of Year) | $76M |
| Net Assets (End of Year) | $76M |
| Net Income | -$5M |
| Plan Type | Other |
| Employer EIN | 450412162 |
| Plan Effective Date | 2016-01-01 |
| 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 Other Plans in North Dakota
Peer Other plans, same state, same plan type, ranked by total assets.
- Border States Industries, Inc. Employee Stock Ownership Plan $1.2B · 2,973
- Scheels Employee Stock Ownership Plan $838M · 4,597
- Dakota Supply Group, Inc. Employee Stock Ownership Plan $230M · 767
- Clark Equipment Company - Melroe Division, Gwinner, Nd Plant Hourly-Rate Employees' Pension Plan $104M · 1,028
- Frontier Precision, Inc Employee Stock Ownership Plan $87M · 90
Frequently Asked Questions
How much money is in the State Bankshares Employee Stock Ownership Plan and Trust? ▼
What type of plan is State Bankshares Employee Stock Ownership Plan and Trust? ▼
Who sponsors the State Bankshares Employee Stock Ownership Plan and Trust? ▼
How did State Bankshares Employee Stock Ownership Plan and Trust perform in 2023? ▼
What this filing means
Ways to act on State Bankshares Employee Stock Ownership Plan and Trust's numbers.
- By total assets, State Bankshares Employee Stock Ownership Plan and Trust ranks in the top quartile of all filed plans by assets. See the largest plans
- Compare it side-by-side against 3 similar Other plans in North Dakota. Compare plans
- State Bankshares, Inc.'s sponsor-wide assets have grown 30.4% since 2022 across 3 plan years on file. More Finance & Insurance plans
- An Other plan works differently from other retirement plan types, understand the structural differences before comparing. Compare plan types
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.
Every figure on PlainRetire is rendered directly from the Department of Labor's Form 5500 annual return filings, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-05-15.