ESOP · DOL Form 5500 · 2024

Needham Bank ESOP

Data updated 2026-08-25

$62M
Total assets Below avg plan size
283
Participants Below avg headcount
86th
Percentile by assets National rank
$218,471
Avg per participant Above avg balance/head
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Official DOL plan name: Needham Bank Employee Stock Ownership Plan · Sponsored by Needham Bank · Massachusetts · Finance & Insurance

$62M in assets, 283 participants

Needham Bank's Needham Bank Employee Stock Ownership Plan reported $62M in total assets and 283 participants in its 2024 DOL Form 5500 filing, ranking in the 86th 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.

  • #6,751 in Finance & Insurance (8,549 peers)

Coverage in Massachusetts

Needham Bank Employee Stock Ownership Plan covers 283 participants in Massachusetts, about 43% of the average Massachusetts filer (state average ~659 per filing). Assets: $62M.

#6,751
in Finance & Insurance (8,549 peers)
+359.8%
assets growth YoY
0.6×
vs typical plan assets (national mean)

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

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

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

$61,827,355 Top 14% higher than 86% 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

Needham Bank 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. Needham Bank Employee Stock Ownership Plan sits mid-pack in the medium band (283 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Needham Bank Employee Stock Ownership Plan reported net income rose from -$324K in the plan year 2023 filing to $16M in the plan year 2024 filing.
  • Needham Bank Employee Stock Ownership Plan end-of-year assets rose from $13M in the plan year 2023 filing to $62M in the plan year 2024 filing.

See the national 2023→2024 release diff →

Form 5500 schedule snapshot

Filing strip 843556185 · Needham Bank PY 2024 · ESOP

Needham Bank Employee Stock Ownership Plan · $62M · 283 · 86th

  • ASSETS $62M
  • PCT 283
  • EIN 86th
  • RANK ESOP
  • PHOTO near Swift & Staley Inc. Employee Stock Ownership Plan
  • IND ind #6751

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 Massachusetts →

Needham Bank Employee Stock Ownership Plan in the asset neighbourhood

Williams Company Employee Stock Ownership Plan and TrustWilliams Company Employee St…$62MSwift & Staley Inc. Employee Stock Ownership PlanSwift & Staley Inc. Employee…$62MNeedham Bank Employee Stock Ownership PlanNeedham Bank Employee Stock …$62MTower Products ESOP$62MScallon Controls, Inc. Employee Stock Ownership PlanScallon Controls, Inc. Emplo…$61M
End-of-year total assets ($M) among Needham Bank Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

Massachusetts filing particulars

Total Assets (Beginning of Year)$13M
Net Assets (End of Year)$16M
Net Income$16M
Employer EIN843556185
Plan Effective Date2023-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Needham Bank)

Sponsor-wide plan assets over time

All Needham Bank plans reported in each filing year

Latest sponsor-wide plan assets
$124M 108.37377326228624% vs 2023
2024 filing year
$40M$60M$80M$100M$120M$140M 20232024 $59.5M $124M ▲ +108.4%
Year Plans Participants Total Assets
2023 2 622 $59M
2024 3 730 $124M

Nearby ESOP Plans in Massachusetts

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

Needham Bank Employee Stock Ownership Plan vs. nearby ESOP plans in Massachusetts, assets vs. participants Scatter plot of 6 data points. 0500100015002000 0200400600800 Total assets ($M) Participants Needham Bank Employee Stock Ownership Plan, Total assets ($M): 61.827355 · Participants: 283Needham Bank Employee Stock Ownership PlanConsigli Building Group Employee Stock Ownership Plan, Total assets ($M): 729.34706 · Participants: 1684Consigli Building Group Employee Stock Ownership PlanThe Gillette Company Employee Stock Ownership Plan, Total assets ($M): 367.792322 · Participants: 139The Gillette Company Employee Stock Ownership PlanFirst Amended and Restated Creative Financial Staffing, Inc. Employee Stock Ownership Plan, Total assets ($M): 253.372727 · Participants: 445First Amended and Restated Creative Financial Staffing, Inc. Employee Stock Ownership PlanDavid Clark Employee Stock Ownership Plan, Total assets ($M): 182.6375 · Participants: 236David Clark Employee Stock Ownership PlanNew England Biolabs, Inc. Non-Voting Stock Ownership Plan, Total assets ($M): 162.974294 · Participants: 424New England Biolabs, Inc. Non-Voting Stock Ownership Plan
Needham Bank Employee Stock Ownership Plan vs. nearby ESOP plans in Massachusetts, assets vs. participants
Compare Needham Bank Employee Stock Ownership Plan side-by-side with 3 peers →

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

Outside Massachusetts, the nearest ESOP by assets is Swift & Staley Inc. Employee Stock Ownership Plan in KY ($62M); by covered participants it is Comsonics, Inc. Employee Stock Ownership Trust in VA (283 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (283 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 Needham Bank Employee Stock Ownership Plan assets move in 2024? ▼
Needham Bank Employee Stock Ownership Plan surged - up 359.8% during 2024, from $13M to $62M. Reported net income was $16M.
How have Needham Bank plan assets changed over time? ▼
Across 2 plan years on file (2023-2024), Needham Bank's sponsor-wide assets grew 108.4%, from $59M to $124M.
Where does Needham Bank Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼
Needham Bank Employee Stock Ownership Plan ranks in the 86th 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 Needham Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Swift & Staley Inc. Employee Stock Ownership Plan in KY ($62M, 85 participants).
Which ESOP plans cover a similar participant headcount to Needham Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Comsonics, Inc. Employee Stock Ownership Trust in VA (283 participants, $38M 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 843556185.

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.