ESOP · DOL Form 5500 · 2023
Summit Financial Group, Inc. ESOP
Data updated 2026-08-11
- $19M
- Total assets
- 369
- Participants
- 71st
- Percentile by assets
- $50,582
- Avg per participant
Official DOL plan name: Summit Financial Group, Inc. Employee Stock Ownership Plan · Sponsored by Summit Financial Group, Inc. · West Virginia · Management of Enterprises
$19M in assets, 369 participants
Summit Financial Group, Inc.'s Summit Financial Group, Inc. Employee Stock Ownership Plan reported $19M in total assets and 369 participants in its 2023 DOL Form 5500 filing, ranking in the 71st 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.
- 71st percentile by assets (of 127,072 plans)
- #586 in Management of Enterprises (1,137 peers)
Management of Enterprises sector rank
Within Management of Enterprises, Summit Financial Group, Inc. Employee Stock Ownership Plan ranks #586 of 1,137 2023 filers by assets (1905% of the sector average)-$19M for 369 participants.
- $19M
- total plan assets (2023 EOY)
- 369
- covered participants
- 71st
- percentile by assets (of 127,072 plans)
- $50,582
- avg assets per participant
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Summit Financial Group, Inc. Employee Stock Ownership Plan reported net income rose from -$1M in the plan year 2022 filing to $4M in the plan year 2023 filing.
- Summit Financial Group, Inc. Employee Stock Ownership Plan end-of-year assets rose from $14M in the plan year 2022 filing to $19M in the plan year 2023 filing.
- Summit Financial Group, Inc. Employee Stock Ownership Plan reported participants rose from 350 in the plan year 2022 filing to 369 in the plan year 2023 filing.
Rank #586 in Management of Enterprises
Among 1,137 Management of Enterprises plans that filed a Form 5500 for plan year 2023, Summit Financial Group, Inc. Employee Stock Ownership Plan ranks #586 by end-of-year assets - about 1905% of the sector average of $356M. Nationally it sits in the 71st percentile, a weaker position within its industry than across all filers.
Management of Enterprises filing particulars
| Total Assets (Beginning of Year) | $14M |
|---|---|
| Net Assets (End of Year) | $19M |
| Net Income | $4M |
| Employer EIN | 550672148 |
| Plan Effective Date | 1989-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Summit Financial Group, Inc.)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 782 | $51M |
| 2023 | 2 | 806 | $62M |
| 2024 | 1 | 358 | $389K |
Nearby ESOP Plans in West Virginia
Peer ESOP plans, same state, same plan type, ranked by total assets.
Summit Financial Group, Inc. Employee Stock Ownership Plan vs. nearby ESOP plans in West Virginia, assets vs. participants
- Triton Employee Stock Ownership Plan $82M · 61
- Port Amherst, Ltd. Employee Stock Ownership Plan $43M · 325
- Mulberry's Independent Home Services, Inc. Employee Stock Ownership Plan $37M · 1,687
- Weirton Geriatric Center, Inc. Employees' Stock Ownership Plan $29M · 137
- Cgp Foods Inc. Employee Stock Ownership Plan $21M · 282
Similar-Sized ESOP Plans Nationally
ESOP plans in other states closest to Summit Financial Group, Inc. Employee Stock Ownership Plan by total assets, not by location.
Frequently Asked Questions
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Filing takeaways
Ways to act on Summit Financial Group, Inc. Employee Stock Ownership Plan's numbers.
- By total assets, Summit Financial Group, Inc. Employee Stock Ownership Plan ranks above the median plan by assets. See the largest plans
- Compare it side-by-side against 3 similar ESOP plans in West Virginia. Compare plans
- Summit Financial Group, Inc.'s sponsor-wide assets have declined 99.2% since 2022 across 3 plan years on file. More Management of Enterprises plans