ESOP · DOL Form 5500 · 2024

Bank Forward ESOP

Data updated 2026-08-11

$47M
Total assets
202
Participants
83rd
Percentile by assets
$232,984
Avg per participant
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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.

  • 83rd percentile by assets (of 123,622 plans)
  • #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.

$47M
total plan assets (2024 EOY)
202
covered participants
83rd
percentile by assets (of 123,622 plans)
$232,984
avg assets per participant

Where Bank Forward Employee Stock Ownership Plan sits 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 $2,010,000,000 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

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 →

State
North Dakota
Industry
Finance & Insurance

Participants vs North Dakota filers

In North Dakota, the average filing covers about 504 participants across 359 plans. Bank Forward Employee Stock Ownership Plan reports 202 participants - about 40% of that state average ($47M EOY assets).

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)

$50M$60M$70M$80M$90M 202220232024 $60.3M $82.1M ▲ +36.2%
Total plan assets by year, all Bank Forward plans on file
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 ($B) Participants Bank Forward Employe…, Total assets ($B): 0.047062742 · Participants: 202Bank Forward Employe…Border States Indust…, Total assets ($B): 1.326258119 · Participants: 3256Border States Indust…Scheels Employee Sto…, Total assets ($B): 0.962968241 · Participants: 5157Scheels Employee Sto…Ulteig, Inc. Employe…, Total assets ($B): 0.192805392 · Participants: 1117Ulteig, Inc. Employe…Frontier Precision, …, Total assets ($B): 0.097711974 · Participants: 89Frontier Precision, …Klj Solutions Co Emp…, Total assets ($B): 0.09240993 · Participants: 525Klj Solutions Co Emp…
Bank Forward Employee Stock Ownership Plan vs. nearby ESOP plans in North Dakota, assets vs. participants
Compare Bank Forward Employee Stock Ownership Pl… side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to Bank Forward Employee Stock Ownership Plan by total assets, not by location.

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).

Next read for Bank Forward Employee Stock Ownership Pl…

Filing takeaways

Ways to act on Bank Forward Employee Stock Ownership Plan's numbers.

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.