ESOP · DOL Form 5500 · 2024

State Bankshares, Inc. ESOP

Data updated 2026-07-24

$78M
Total assets: 1,700
Participants: 89th
Percentile by assets: $45,877
Avg per participant

Official DOL plan name: State Bankshares Employee Stock Ownership Plan and Trust · Sponsored by State Bankshares, Inc. · North Dakota · Finance & Insurance

$78M in assets, 1,700 participants

State Bankshares, Inc.'s State Bankshares Employee Stock Ownership Plan and Trust reported $78M in total assets and 1,700 participants in its 2024 DOL Form 5500 filing, ranking in the 89th 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.

89th percentile by assets (of 116,472 plans)

Coverage in North Dakota

State Bankshares Employee Stock Ownership Plan and Trust covers 1,700 participants in North Dakota, 3.3x the typical North Dakota plan (state average ~522 per filing). Assets: $78M.

$78M
total plan assets (2024 EOY): 1,700
covered participants: 89th
percentile by assets (of 116,472 plans): $45,877
avg assets per participant

State Bankshares Employee Stock Ownership Plan and Trust reported net income rose from -$5M in the plan year 2023 filing to $2M in the plan year 2024 filing.
State Bankshares Employee Stock Ownership Plan and Trust reported participants rose from 1,617 in the plan year 2023 filing to 1,700 in the plan year 2024 filing.
State Bankshares Employee Stock Ownership Plan and Trust end-of-year assets rose from $76M in the plan year 2023 filing to $78M 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 522 participants across 339 plans. State Bankshares Employee Stock Ownership Plan and Trust reports 1,700 participants - 3.3x that state average ($78M EOY assets).

North Dakota filing particulars

Total Assets (Beginning of Year)	$76M
Net Assets (End of Year)	$78M
Net Income	$2M
Employer EIN	450412162
Plan Effective Date	2016-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (State Bankshares, Inc.)

Total plan assets by year, all State Bankshares, Inc. plans on file

Year	Plans	Participants	Total Assets
2022	2	3,204	$305M
2023	2	3,559	$351M
2024	2	3,608	$397M

Nearby ESOP Plans in North Dakota

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

State Bankshares Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in North Dakota, assets vs. participants

Border States Industries, Inc. Employee Stock Ownership Plan $1.3B · 3,256
Scheels Employee Stock Ownership Plan $963M · 5,157
Ulteig, Inc. Employee Stock Ownership Plan $193M · 1,117
Frontier Precision, Inc Employee Stock Ownership Plan $98M · 89
Klj Solutions Co Employee Stock Ownership Plan $92M · 525

Compare State Bankshares Employee Stock Ownershi… side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to State Bankshares Employee Stock Ownership Plan and Trust by total assets, not by location.

Godshall's Quality Meats Employee Stock Ownership Plan () $78M · 273
Bolton & Menk, Inc. Employee Stock Ownership Plan (MN) $78M · 928
Reliance, Inc. Employee Stock Ownership Plan (AZ) $78M · 993
Aerotech, Inc. Employee Stock Ownership Plan and Trust (PA) $79M · 452

Frequently Asked Questions

How did State Bankshares Employee Stock Ownership Plan and Trust assets move in 2024? ▼

State Bankshares Employee Stock Ownership Plan and Trust edged up modestly - up 3.0% during 2024, from $76M to $78M. Reported net income was $2M.

How have State Bankshares, Inc. plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), State Bankshares, Inc.'s sponsor-wide assets grew 30.4%, from $305M to $397M.

Where does State Bankshares Employee Stock Ownership Plan and Trust rank by assets among Form 5500 filers? ▼

State Bankshares Employee Stock Ownership Plan and Trust ranks in the 89th percentile by end-of-year assets among 116,472 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 State Bankshares Employee Stock Ownership Plan and Trust? ▼

Among ESOP plans in other states, the closest by assets is Godshall's Quality Meats Employee Stock Ownership Plan in ($78M, 273 participants).

Next read for State Bankshares Employee Stock Ownershi…

Filing takeaways

Ways to act on State Bankshares Employee Stock Ownership Plan and Trust's numbers.

By total assets, State Bankshares Employee Stock Ownership Plan and Trust ranks in the top quartile of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar ESOP plans in North Dakota. Compare plans
State Bankshares, Inc.'s sponsor-wide assets have grown 30.4% since 2022 across 3 plan years on file. More Finance & Insurance plans

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 450412162.

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.