ESOP · DOL Form 5500 · 2023

Bank Independent ESOP

Data updated 2026-08-25

$2M
Total assets Small plan by assets
520
Participants Below avg headcount
30th
Percentile by assets National rank
$3,548
Avg per participant Low balance/head
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Official DOL plan name: Bank Independent Stock Bonus Plan · Sponsored by Bank Independent · Alabama · Finance & Insurance

$2M in assets, 520 participants

Bank Independent's Bank Independent Stock Bonus Plan reported $2M in total assets and 520 participants in its 2023 DOL Form 5500 filing, ranking in the 30th 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.

  • #1,773 in Finance & Insurance (8,869 peers)

Bank Independent multi-year trail

Bank Independent's plans moved +19.4% in assets from 2022 to 2024; this filing shows Bank Independent Stock Bonus Plan at $2M / 520 participants.

#1,773
in Finance & Insurance (8,869 peers)
+4.1%
assets growth YoY

Bank Independent Stock Bonus Plan among the smaller filed plans by assets

Bank Independent Stock Bonus Plan vs every filed plan by assets

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

$1,844,805 30th percentile higher than 30% 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

Bank Independent Stock Bonus 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. Bank Independent Stock Bonus Plan sits mid-pack in the medium band (520 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Bank Independent Stock Bonus Plan reported net income fell from $242K in the plan year 2022 filing to $72K in the plan year 2023 filing.
  • Bank Independent Stock Bonus Plan end-of-year assets rose from $2M in the plan year 2022 filing to $2M in the plan year 2023 filing.
  • Bank Independent Stock Bonus Plan reported participants rose from 512 in the plan year 2022 filing to 520 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 630260951 · Bank Independent PY 2023 · ESOP

Bank Independent Stock Bonus Plan · $2M · 520 · 30th

  • EOY $2M
  • EOY 520
  • EOY 30th
  • EOY ESOP
  • EOY near Alaskan Brewing & Bottling Co. Employee Stock Ownership Plan
  • EOY ind #1773

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 Alabama →

Bank Independent Stock Bonus Plan in the asset neighbourhood

Milton J. Womack, Inc. Employee Stock Ownership PlanMilton J. Womack, Inc. Emplo…$2MHerbert Lumber Co. Employee Stock Ownership PlanHerbert Lumber Co. Employee …$2MBank Independent Stock Bonus PlanBank Independent Stock Bonus…$2MAlaskan Brewing & Bottling Co. Employee Stock Ownership PlanAlaskan Brewing & Bottling C…$2MTpc Holdings, Inc. Employee Stock Ownership PlanTpc Holdings, Inc. Employee …$2M
End-of-year total assets ($M) among Bank Independent Stock Bonus Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Bank Independent multi-year asset trail

Sponsor-wide plan assets over time

All Bank Independent plans reported in each filing year

Latest sponsor-wide plan assets
$83M 19.386290748426475% vs 2022
2024 filing year
$65M$70M$75M$80M$85M 202220232024 $69.7M $83.2M ▲ +19.4%
Year Plans Participants Total Assets
2022 3 1,507 $70M
2023 3 1,546 $77M
2024 3 1,670 $83M

Bank Independent filing trail (2023)

Total Assets (Beginning of Year)$2M
Net Assets (End of Year)$2M
Net Income$72K
Employer EIN630260951
Plan Effective Date1976-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Alabama

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

Bank Independent Stock Bonus Plan vs. nearby ESOP plans in Alabama, assets vs. participants Scatter plot of 6 data points. 050010001500 -2000200400600 Total assets ($M) Participants Bank Independent Stock Bonus Plan, Total assets ($M): 1.844805 · Participants: 520Bank Independent Stock Bonus PlanStarfish Holdings, Inc. Employee Stock Ownership Plan, Total assets ($M): 470.48798 · Participants: 1360Starfish Holdings, Inc. Employee Stock Ownership PlanInline Electric Employee Stock Ownership Plan, Total assets ($M): 196.496733 · Participants: 287Inline Electric Employee Stock Ownership PlanRadiance Technologies, Inc. Employee Stock Ownership Plan, Total assets ($M): 168.105591 · Participants: 874Radiance Technologies, Inc. Employee Stock Ownership PlanSignature Homes Employee Stock Ownership Plan, Total assets ($M): 167.814551 · Participants: 123Signature Homes Employee Stock Ownership PlanEmployee Stock Ownership Plan for Employees of David Volkert and Associates, Inc. and Sub, Total assets ($M): 126.850762 · Participants: 909Employee Stock Ownership Plan for Employees of David Volkert and Associates, Inc. and Sub
Bank Independent Stock Bonus Plan vs. nearby ESOP plans in Alabama, assets vs. participants
Compare Bank Independent Stock Bonus Plan side-by-side with 3 peers →

Bank Independent Stock Bonus Plan's out-of-state ESOP peers by assets and headcount

Outside Alabama, the nearest ESOP by assets is Alaskan Brewing & Bottling Co. Employee Stock Ownership Plan in AK ($2M); by covered participants it is Moore's Electrical & Mechanical Construction, Inc. Employee Stock Ownership Plan and Trust in VA (524 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (520 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 Bank Independent Stock Bonus Plan assets move in 2023? ▼
Bank Independent Stock Bonus Plan edged up modestly - up 4.1% during 2023, from $2M to $2M. Reported net income was $72K.
How have Bank Independent plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Bank Independent's sponsor-wide assets grew 19.4%, from $70M to $83M.
Which ESOP plans are similar in size to Bank Independent Stock Bonus Plan? ▼
Among ESOP plans in other states, the closest by assets is Alaskan Brewing & Bottling Co. Employee Stock Ownership Plan in AK ($2M, 60 participants).
Which ESOP plans cover a similar participant headcount to Bank Independent Stock Bonus Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Moore's Electrical & Mechanical Construction, Inc. Employee Stock Ownership Plan and Trust in VA (524 participants, $15M 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 630260951.

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.