401(k) · DOL Form 5500 · 2023

Bank Independent Inc 401(k) Plan

Data updated 2026-08-25

$40M
Total assets Below avg plan size
515
Participants Below avg headcount
83rd
Percentile by assets National rank
$77,596
Avg per participant Below avg balance/head
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Official DOL plan name: Bank Independent 401(k) Profit Sharing Plan · Sponsored by Bank Independent Inc · Alabama · Finance & Insurance

$40M in assets, 515 participants

Bank Independent Inc's Bank Independent 401(k) Profit Sharing Plan reported $40M in total assets and 515 participants in its 2023 DOL Form 5500 filing, ranking in the 83rd 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.

  • #6,563 in Finance & Insurance (8,869 peers)

Where Bank Independent 401(k) Profit Sharing Plan sits by assets

Bank Independent 401(k) Profit Sharing Plan sits in the top quartile of all filed plans by assets, $40M for 515 participants (~$77,596/participant), up 21.4% in 2023.

#6,563
in Finance & Insurance (8,869 peers)
+21.4%
assets growth YoY
0.4×
vs typical plan assets (national mean)

Bank Independent 401(k) Profit Sharing Plan's outsized position by total assets

Bank Independent 401(k) Profit Sharing Plan vs every filed plan by assets

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

$39,961,996 Top 17% higher than 83% 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 401(k) Profit Sharing 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 401(k) Profit Sharing Plan sits mid-pack in the medium band (515 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Bank Independent 401(k) Profit Sharing Plan reported net income rose from -$6M in the plan year 2022 filing to $7M in the plan year 2023 filing.
  • Bank Independent 401(k) Profit Sharing Plan end-of-year assets rose from $33M in the plan year 2022 filing to $40M in the plan year 2023 filing.
  • Bank Independent 401(k) Profit Sharing Plan reported participants rose from 498 in the plan year 2022 filing to 515 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Plan-year Form 5500 strip

Filing strip 630260951 · Bank Independent Inc PY 2023 · 401(k)

Bank Independent 401(k) Profit Sharing Plan · $40M · 515 · 83rd

  • EBSA $40M
  • EBSA 515
  • EBSA 83rd
  • EBSA 401(k)
  • EBSA near Carbon Health 401(k) Plan
  • EBSA ind #6563

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 Finance & Insurance retirement plans → · Plans in Alabama →

Bank Independent 401(k) Profit Sharing Plan in the asset neighbourhood

Foley Family Wines 401(k) PlanFoley Family Wines 401(k) Pl…$40MLoren Cook Company 401(k) PlanLoren Cook Company 401(k) Pl…$40MBank Independent 401(k) Profit Sharing PlanBank Independent 401(k) Prof…$40MCarbon Health 401(k) Plan$40MCarroll Independent Fuel 401(k) Retirement PlanCarroll Independent Fuel 401…$40M
End-of-year total assets ($M) among Bank Independent 401(k) Profit Sharing Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$33M
Net Assets (End of Year)$40M
Net Income$7M
Employer EIN630260951
Plan Effective Date2005-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Bank Independent Inc)

Sponsor-wide plan assets over time

All Bank Independent Inc 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

Nearby 401(k) Plans in Alabama

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Bank Independent 401(k) Profit Sharing Plan vs. nearby 401(k) plans in Alabama, assets vs. participants Scatter plot of 6 data points. -100000100002000030000 -10123 Total assets ($B) Participants Bank Independent 401(k) Profit Sharing Plan, Total assets ($B): 0.039961996 · Participants: 515Bank Independent 401(k) Profit Sharing PlanRegions Financial Corporation 401(k) Plan, Total assets ($B): 2.854553916 · Participants: 20733Regions Financial Corporation 401(k) PlanEncompass Health Corporation 401(k) Retirement Plan, Total assets ($B): 1.49327201 · Participants: 24565Encompass Health Corporation 401(k) Retirement PlanHexagon Employee Retirement Savings Plan, Total assets ($B): 1.479278219 · Participants: 4618Hexagon Employee Retirement Savings PlanVulcan 401(k) Plan, Total assets ($B): 1.361024189 · Participants: 9487Vulcan 401(k) PlanMercedes-Benz U.S. International, Inc. Retirement and Savings Plan, Total assets ($B): 1.090263356 · Participants: 0Mercedes-Benz U.S. International, Inc. Retirement and Savings Plan
Bank Independent 401(k) Profit Sharing Plan vs. nearby 401(k) plans in Alabama, assets vs. participants
Compare Bank Independent 401(k) Profit Sharing Plan side-by-side with 3 peers →

Bank Independent 401(k) Profit Sharing Plan's out-of-state 401(k) peers by assets and headcount

Outside Alabama, the nearest 401(k) by assets is Carbon Health 401(k) Plan in CA ($40M); by covered participants it is United Steel Workers of America - Standard Steel, LLC 401(k) Plan in PA (515 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($40M here).

Similar participant headcount

Nearest other-state filings by covered participants (515 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 401(k) Profit Sharing Plan assets move in 2023? ▼
Bank Independent 401(k) Profit Sharing Plan grew sharply - up 21.4% during 2023, from $33M to $40M. Reported net income was $7M.
How have Bank Independent Inc plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Bank Independent Inc's sponsor-wide assets grew 19.4%, from $70M to $83M.
Where does Bank Independent 401(k) Profit Sharing Plan rank by assets among Form 5500 filers? ▼
Bank Independent 401(k) Profit Sharing Plan ranks in the 83rd percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Bank Independent 401(k) Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by assets is Carbon Health 401(k) Plan in CA ($40M, 2,411 participants).
Which 401(k) plans cover a similar participant headcount to Bank Independent 401(k) Profit Sharing Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is United Steel Workers of America - Standard Steel, LLC 401(k) Plan in PA (515 participants, $40M 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.