ESOP · DOL Form 5500 · 2024

The Bank of Elk River ESOP

Data updated 2026-08-25

$6M
Total assets Small plan by assets
87
Participants Small participant base
45th
Percentile by assets National rank
$69,536
Avg per participant Below avg balance/head
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Official DOL plan name: The Bank of Elk River Employee Stock Ownership Plan and Trust · Sponsored by The Bank of Elk River · Minnesota · Finance & Insurance

$6M in assets, 87 participants

The Bank of Elk River's The Bank of Elk River Employee Stock Ownership Plan and Trust reported $6M in total assets and 87 participants in its 2024 DOL Form 5500 filing, ranking in the 45th 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.

  • #2,652 in Finance & Insurance (8,549 peers)

What the 2024 filing shows

The Bank of Elk River Employee Stock Ownership Plan and Trust holds $6M for 87 participants - about $69,536 per participant, in the lower half of filed plans by assets.

#2,652
in Finance & Insurance (8,549 peers)
-5.2%
assets change YoY

The plan reported a net loss of $331K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

The Bank of Elk River Employee Stock Ownership Plan and Trust's mid-pack asset rank among Finance & Insurance and all filers

The Bank of Elk River Employee Stock Ownership Plan and Trust vs every filed plan by assets

End-of-year total assets · plan year 2024 · DOL Form 5500

$6,049,645 45th percentile higher than 45% of 123,620 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 2024

The Bank of Elk River Employee Stock Ownership Plan and Trust among smaller filed plans by headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. The Bank of Elk River Employee Stock Ownership Plan and Trust is a small filing (87 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • The Bank of Elk River Employee Stock Ownership Plan and Trust reported net income fell from $720K in the plan year 2023 filing to -$331K in the plan year 2024 filing.
  • The Bank of Elk River Employee Stock Ownership Plan and Trust reported participants rose from 81 in the plan year 2023 filing to 87 in the plan year 2024 filing.
  • The Bank of Elk River Employee Stock Ownership Plan and Trust end-of-year assets fell from $6M in the plan year 2023 filing to $6M in the plan year 2024 filing.

See the national 2023→2024 release diff →

Form 5500 schedule snapshot

Filing strip 410138420 · The Bank of Elk River PY 2024 · ESOP

The Bank of Elk River Employee Stock Ownership Plan and Trust · $6M · 87 · 45th

  • IND $6M
  • IND 87
  • IND 45th
  • IND ESOP
  • IND near Midwest Natural Gas Corporation Employee Stock Ownership Plan
  • IND ind #2652

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 Minnesota →

The Bank of Elk River Employee Stock Ownership Plan and Trust in the asset neighbourhood

Midwest Natural Gas Corporation Employee Stock Ownership PlanMidwest Natural Gas Corporat…$6MD & D Roofing and Sheet Metal Inc. Employee Stock Ownership PlanD & D Roofing and Sheet Meta…$6MCalifornia Boiler, Inc. Employee Stock Ownership PlanCalifornia Boiler, Inc. Empl…$6MThe Bank of Elk River Employee Stock Ownership Plan and TrustThe Bank of Elk River Employ…$6MFocus Holdings USA, Inc. Employee Stock Ownership PlanFocus Holdings USA, Inc. Emp…$6M
End-of-year total assets ($M) among The Bank of Elk River Employee Stock Ownership Plan and Trust and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

Filing particulars (2024)

Total Assets (Beginning of Year)$6M
Net Assets (End of Year)$6M
Net Income-$331K
Employer EIN410138420
Plan Effective Date1996-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (The Bank of Elk River)

Sponsor-wide plan assets over time

All The Bank of Elk River plans reported in each filing year

Latest sponsor-wide plan assets
$6M 6.87166856603193% vs 2022
2024 filing year
$5.5M$6M$6.5M 202220232024 $5.66M $6.05M ▲ +6.9%
Year Plans Participants Total Assets
2022 1 90 $6M
2023 1 81 $6M
2024 1 87 $6M

Nearby ESOP Plans in Minnesota

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

The Bank of Elk River Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -5000050001000015000 -500050010001500 Total assets ($M) Participants The Bank of Elk River Employee Stock Ownership Plan and Trust, Total assets ($M): 6.049645 · Participants: 87The Bank of Elk River Employee Stock Ownership Plan and TrustAndersen Corporation Employee Stock Ownership Plan, Total assets ($M): 962.686911 · Participants: 12104Andersen Corporation Employee Stock Ownership PlanLandscape Structures, Inc. Employee Stock Ownership Plan and Trust, Total assets ($M): 593.784492 · Participants: 490Landscape Structures, Inc. Employee Stock Ownership Plan and TrustKingdom Enterprises, Inc. Employee Stock Ownership Plan, Total assets ($M): 593.525018 · Participants: 782Kingdom Enterprises, Inc. Employee Stock Ownership PlanForce America Inc. Employee Stock Ownership Plan, Total assets ($M): 472.716981 · Participants: 615Force America Inc. Employee Stock Ownership PlanAblenet, Inc. Employee Stock Ownership Plan, Total assets ($M): 459.837439 · Participants: 134Ablenet, Inc. Employee Stock Ownership Plan
The Bank of Elk River Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants
Compare The Bank of Elk River Employee Stock Ownership Plan and Trust side-by-side with 3 peers →

The Bank of Elk River Employee Stock Ownership Plan and Trust's out-of-state ESOP peers by assets and headcount

Outside Minnesota, the nearest ESOP by assets is Midwest Natural Gas Corporation Employee Stock Ownership Plan in IN ($6M); by covered participants it is Lenoir Mirror Company Employee Stock Ownership Plan in NC (87 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (87 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did The Bank of Elk River Employee Stock Ownership Plan and Trust assets move in 2024? ▼
The Bank of Elk River Employee Stock Ownership Plan and Trust pulled back noticeably - down 5.2% during 2024, from $6M to $6M. Reported net income was -$331K.
How have The Bank of Elk River plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), The Bank of Elk River's sponsor-wide assets grew 6.9%, from $6M to $6M.
Which ESOP plans are similar in size to The Bank of Elk River Employee Stock Ownership Plan and Trust? ▼
Among ESOP plans in other states, the closest by assets is Midwest Natural Gas Corporation Employee Stock Ownership Plan in IN ($6M, 46 participants).
Which ESOP plans cover a similar participant headcount to The Bank of Elk River Employee Stock Ownership Plan and Trust? ▼
Among ESOP plans in other states, the closest by covered participants is Lenoir Mirror Company Employee Stock Ownership Plan in NC (87 participants, $250K in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410138420.

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.