ESOP · DOL Form 5500 · 2024

Stearns Financial Services, Inc. ESOP

Data updated 2026-08-25

$143M
Total assets Near avg plan size
529
Participants Below avg headcount
93rd
Percentile by assets National rank
$271,183
Avg per participant High balance/head
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Official DOL plan name: Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust · Sponsored by Stearns Financial Services, Inc. · Minnesota · Management of Enterprises

$143M in assets, 529 participants

Stearns Financial Services, Inc.'s Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust reported $143M in total assets and 529 participants in its 2024 DOL Form 5500 filing, ranking in the 93rd 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.

  • #910 in Management of Enterprises (1,133 peers)

Coverage in Minnesota

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust covers 529 participants in Minnesota, about 47% of the average Minnesota filer (state average ~1,126 per filing). Assets: $143M.

#910
in Management of Enterprises (1,133 peers)
+8.7%
assets growth YoY
1.4×
vs typical plan assets (national mean)

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust's outsized position by total assets

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust vs every filed plan by assets

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

$143,455,657 Top 7% higher than 93% 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

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust 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. Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust sits mid-pack in the medium band (529 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust reported net income rose from -$9M in the plan year 2023 filing to $14M in the plan year 2024 filing.
  • Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust end-of-year assets rose from $132M in the plan year 2023 filing to $143M in the plan year 2024 filing.
  • Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust reported participants rose from 494 in the plan year 2023 filing to 529 in the plan year 2024 filing.

See the national 2023→2024 release diff →

DOL schedule card

Filing strip 411655119 · Stearns Financial Services, Inc. PY 2024 · ESOP

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust · $143M · 529 · 93rd

  • RANK $143M
  • PHOTO 529
  • IND 93rd
  • EOY ESOP
  • 5500 near 3ls, Inc. Employee Stock Ownership Plan
  • ASSETS ind #910

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 →

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust in the asset neighbourhood

Shine516, Inc. Employee Stock Ownership PlanShine516, Inc. Employee Stoc…$144MStearns Financial Services, Inc. Employee Stock Ownership Plan and TrustStearns Financial Services, …$143M3ls, Inc. Employee Stock Ownership Plan3ls, Inc. Employee Stock Own…$143MPrecision Walls, Inc. Employee Stock Ownership PlanPrecision Walls, Inc. Employ…$143MIntegra Technologies Employee Stock Ownership PlanIntegra Technologies Employe…$143M
End-of-year total assets ($M) among Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

Minnesota filing particulars

Total Assets (Beginning of Year)$132M
Net Assets (End of Year)$123M
Net Income$14M
Employer EIN411655119
Plan Effective Date1984-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Stearns Financial Services, Inc.)

Sponsor-wide plan assets over time

All Stearns Financial Services, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$181M 9.238791178114727% vs 2022
2024 filing year
$150M$160M$170M$180M$190M 202220232024 $165M $181M ▲ +9.2%
Year Plans Participants Total Assets
2022 2 972 $165M
2023 2 963 $161M
2024 2 1,001 $181M

Nearby ESOP Plans in Minnesota

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

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -5000050001000015000 020040060080010001200 Total assets ($M) Participants Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust, Total assets ($M): 143.455657 · Participants: 529Stearns Financial Services, Inc. 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
Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust vs. nearby ESOP plans in Minnesota, assets vs. participants
Compare Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust side-by-side with 3 peers →

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust's out-of-state ESOP peers by assets and headcount

Outside Minnesota, the nearest ESOP by assets is 3ls, Inc. Employee Stock Ownership Plan in TN ($143M); by covered participants it is Showplace Wood Products, Inc. Employee Stock Ownership Plan in SD (529 participants). Same-state nearby plans are listed separately above.

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 Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust assets move in 2024? ▼
Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust grew at a solid clip - up 8.7% during 2024, from $132M to $143M. Reported net income was $14M.
How have Stearns Financial Services, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Stearns Financial Services, Inc.'s sponsor-wide assets grew 9.2%, from $165M to $181M.
Where does Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust rank by assets among Form 5500 filers? ▼
Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust ranks in the 93rd percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (in the top 10% of all filed plans by assets).
Which ESOP plans are similar in size to Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust? ▼
Among ESOP plans in other states, the closest by assets is 3ls, Inc. Employee Stock Ownership Plan in TN ($143M, 515 participants).
Which ESOP plans cover a similar participant headcount to Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust? ▼
Among ESOP plans in other states, the closest by covered participants is Showplace Wood Products, Inc. Employee Stock Ownership Plan in SD (529 participants, $104M 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 411655119.

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.