ESOP · DOL Form 5500 · 2024

Stearns Financial Services, Inc. ESOP

Data updated 2026-07-24

$143M
Total assets: 529
Participants: 93rd
Percentile by assets: $271,183
Avg per participant

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.

93rd percentile by assets (of 116,472 plans)

Coverage in Minnesota

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust covers 529 participants in Minnesota, about 46% of the average Minnesota filer (state average ~1,161 per filing). Assets: $143M.

$143M
total plan assets (2024 EOY): 529
covered participants: 93rd
percentile by assets (of 116,472 plans): $271,183
avg assets per participant

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 →

State

Minnesota

Industry

Management of Enterprises

Participants vs Minnesota filers

In Minnesota, the average filing covers about 1,161 participants across 2,725 plans. Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust reports 529 participants - about 46% of that state average ($143M EOY assets).

Minnesota filing particulars

Total Assets (Beginning of Year)	$132M
Net Assets (End of Year)	$123M
Net Income	$14M
Employer EIN	411655119
Plan Effective Date	1984-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Stearns Financial Services, Inc.)

Total plan assets by year, all Stearns Financial Services, Inc. plans on file

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

Andersen Corporation Employee Stock Ownership Plan $963M · 12,104
Landscape Structures, Inc. Employee Stock Ownership Plan and Trust $594M · 490
Kingdom Enterprises, Inc. Employee Stock Ownership Plan $594M · 782
Ablenet, Inc. Employee Stock Ownership Plan $460M · 134
Hormel Foods Corporation Joint Earnings Profit Sharing Trust $424M · 4,375

Compare Stearns Financial Services, Inc. Employe… side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust by total assets, not by location.

3ls, Inc. Employee Stock Ownership Plan (TN) $143M · 515
Precision Walls, Inc. Employee Stock Ownership Plan (NC) $143M · 1,228
Shine516, Inc. Employee Stock Ownership Plan (FL) $144M · 207
Mcelroy Metal Mill, Inc. Employee Stock Ownership Plan (LA) $142M · 573

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 116,472 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).

Next read for Stearns Financial Services, Inc. Employe…

Filing takeaways

Ways to act on Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust's numbers.

By total assets, Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust ranks in the top 10% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar ESOP plans in Minnesota. Compare plans
Stearns Financial Services, Inc.'s sponsor-wide assets have grown 9.2% since 2022 across 3 plan years on file. More Management of Enterprises 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 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.