ESOP · DOL Form 5500 · 2024

Bank Forward ESOP

Data updated 2026-08-25

$47M
Total assets Below avg plan size
202
Participants Below avg headcount
83rd
Percentile by assets National rank
$232,984
Avg per participant Above avg balance/head
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Official DOL plan name: Bank Forward Employee Stock Ownership Plan · Sponsored by Bank Forward · North Dakota · Finance & Insurance

$47M in assets, 202 participants

Bank Forward's Bank Forward Employee Stock Ownership Plan reported $47M in total assets and 202 participants in its 2024 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.

  • #6,355 in Finance & Insurance (8,549 peers)

Coverage in North Dakota

Bank Forward Employee Stock Ownership Plan covers 202 participants in North Dakota, about 40% of the average North Dakota filer (state average ~504 per filing). Assets: $47M.

#6,355
in Finance & Insurance (8,549 peers)
+12.9%
assets growth YoY
0.5×
vs typical plan assets (national mean)

Bank Forward Employee Stock Ownership Plan's outsized position by total assets

Bank Forward Employee Stock Ownership Plan vs every filed plan by assets

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

$47,062,742 Top 17% higher than 83% 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

Bank Forward Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Bank Forward Employee Stock Ownership Plan sits mid-pack in the medium band (202 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Bank Forward Employee Stock Ownership Plan reported net income fell from $7M in the plan year 2023 filing to $4M in the plan year 2024 filing.
  • Bank Forward Employee Stock Ownership Plan end-of-year assets rose from $42M in the plan year 2023 filing to $47M in the plan year 2024 filing.

See the national 2023→2024 release diff →

EBSA filing schedule strip

Filing strip 450192700 · Bank Forward PY 2024 · ESOP

Bank Forward Employee Stock Ownership Plan · $47M · 202 · 83rd

  • NET $47M
  • BOOK 202
  • VS-ST 83rd
  • BOY ESOP
  • SCH near Merchants Financial Group, Inc. Employee Stock Ownership Plan
  • EBSA ind #6355

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 North Dakota →

Bank Forward Employee Stock Ownership Plan in the asset neighbourhood

Merchants Financial Group, Inc. Employee Stock Ownership PlanMerchants Financial Group, I…$47MBank Forward Employee Stock Ownership PlanBank Forward Employee Stock …$47MNeighbors & Associates, Inc. Employee Stock Ownership PlanNeighbors & Associates, Inc.…$47MS. Rothschild & Co., Inc. Employee Stock Ownership PlanS. Rothschild & Co., Inc. Em…$47MScientific Applications & Research Associates, Inc. Employee Stock Ownership PlanScientific Applications & Re…$47M
End-of-year total assets ($M) among Bank Forward Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

North Dakota filing particulars

Total Assets (Beginning of Year)$42M
Net Assets (End of Year)$43M
Net Income$4M
Employer EIN450192700
Plan Effective Date2000-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Bank Forward)

Sponsor-wide plan assets over time

All Bank Forward plans reported in each filing year

Latest sponsor-wide plan assets
$82M 36.238237194996096% vs 2022
2024 filing year
$50M$60M$70M$80M$90M 202220232024 $60.3M $82.1M ▲ +36.2%
Year Plans Participants Total Assets
2022 2 434 $60M
2023 2 425 $72M
2024 2 430 $82M

Nearby ESOP Plans in North Dakota

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

Bank Forward Employee Stock Ownership Plan vs. nearby ESOP plans in North Dakota, assets vs. participants Scatter plot of 6 data points. -20000200040006000 -0.500.511.5 Total assets ($B) Participants Bank Forward Employee Stock Ownership Plan, Total assets ($B): 0.047062742 · Participants: 202Bank Forward Employee Stock Ownership PlanBorder States Industries, Inc. Employee Stock Ownership Plan, Total assets ($B): 1.326258119 · Participants: 3256Border States Industries, Inc. Employee Stock Ownership PlanScheels Employee Stock Ownership Plan, Total assets ($B): 0.962968241 · Participants: 5157Scheels Employee Stock Ownership PlanUlteig, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.192805392 · Participants: 1117Ulteig, Inc. Employee Stock Ownership PlanFrontier Precision, Inc Employee Stock Ownership Plan, Total assets ($B): 0.097711974 · Participants: 89Frontier Precision, Inc Employee Stock Ownership PlanKlj Solutions Co Employee Stock Ownership Plan, Total assets ($B): 0.09240993 · Participants: 525Klj Solutions Co Employee Stock Ownership Plan
Bank Forward Employee Stock Ownership Plan vs. nearby ESOP plans in North Dakota, assets vs. participants
Compare Bank Forward Employee Stock Ownership Plan side-by-side with 3 peers →

Bank Forward Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside North Dakota, the nearest ESOP by assets is Merchants Financial Group, Inc. Employee Stock Ownership Plan in MN ($47M); by covered participants it is Vern Eide Motorcars Employee Stock Ownership Plan in SD (202 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (202 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 Bank Forward Employee Stock Ownership Plan assets move in 2024? ▼
Bank Forward Employee Stock Ownership Plan grew at a solid clip - up 12.9% during 2024, from $42M to $47M. Reported net income was $4M.
How have Bank Forward plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Bank Forward's sponsor-wide assets grew 36.2%, from $60M to $82M.
Where does Bank Forward Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼
Bank Forward Employee Stock Ownership Plan ranks in the 83rd percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (in the top quartile of all filed plans by assets).
Which ESOP plans are similar in size to Bank Forward Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Merchants Financial Group, Inc. Employee Stock Ownership Plan in MN ($47M, 404 participants).
Which ESOP plans cover a similar participant headcount to Bank Forward Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Vern Eide Motorcars Employee Stock Ownership Plan in SD (202 participants, $25M 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 450192700.

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.