ESOP · DOL Form 5500 · 2024

Bank Independent ESOP

Data updated 2026-08-25

$2M
Total assets Small plan by assets
557
Participants Below avg headcount
30th
Percentile by assets National rank
$3,826
Avg per participant Low balance/head
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Official DOL plan name: Bank Independent Stock Bonus Plan · Sponsored by Bank Independent · Alabama · Finance & Insurance

$2M in assets, 557 participants

Bank Independent's Bank Independent Stock Bonus Plan reported $2M in total assets and 557 participants in its 2024 DOL Form 5500 filing, ranking in the 30th 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.

  • #1,634 in Finance & Insurance (8,549 peers)

Bank Independent multi-year trail

Bank Independent's plans moved +19.4% in assets from 2022 to 2024; this filing shows Bank Independent Stock Bonus Plan at $2M / 557 participants.

#1,634
in Finance & Insurance (8,549 peers)
+15.5%
assets growth YoY

Bank Independent Stock Bonus Plan among the smaller filed plans by assets

Bank Independent Stock Bonus Plan vs every filed plan by assets

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

$2,130,956 30th percentile higher than 30% 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

Bank Independent Stock Bonus 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. Bank Independent Stock Bonus Plan sits mid-pack in the medium band (557 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Bank Independent Stock Bonus Plan reported net income rose from $72K in the plan year 2023 filing to $286K in the plan year 2024 filing.
  • Bank Independent Stock Bonus Plan end-of-year assets rose from $2M in the plan year 2023 filing to $2M in the plan year 2024 filing.
  • Bank Independent Stock Bonus Plan reported participants rose from 520 in the plan year 2023 filing to 557 in the plan year 2024 filing.

See the national 2023→2024 release diff →

DOL schedule card

Filing strip 630260951 · Bank Independent PY 2024 · ESOP

Bank Independent Stock Bonus Plan · $2M · 557 · 30th

  • IND $2M
  • EOY 557
  • 5500 30th
  • ASSETS ESOP
  • PCT near Maddox Electric Company Inc. Employee Stock Ownership Plan
  • EIN ind #1634

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 Alabama →

Bank Independent Stock Bonus Plan in the asset neighbourhood

Bank Independent Stock Bonus PlanBank Independent Stock Bonus…$2MMaddox Electric Company Inc. Employee Stock Ownership PlanMaddox Electric Company Inc.…$2MV&a Consulting Engineers Employee Stock Ownership PlanV&a Consulting Engineers Emp…$2MAmerica's Gardening Resource, Inc. Employee Stock Ownership PlanAmerica's Gardening Resource…$2MFuture Care Associates, Inc. Employee Stock Ownership PlanFuture Care Associates, Inc.…$2M
End-of-year total assets ($M) among Bank Independent Stock Bonus Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

Bank Independent multi-year asset trail

Sponsor-wide plan assets over time

All Bank Independent plans reported in each filing year

Latest sponsor-wide plan assets
$83M 19.386290748426475% vs 2022
2024 filing year
$65M$70M$75M$80M$85M 202220232024 $69.7M $83.2M ▲ +19.4%
Year Plans Participants Total Assets
2022 3 1,507 $70M
2023 3 1,546 $77M
2024 3 1,670 $83M

Bank Independent filing trail (2024)

Total Assets (Beginning of Year)$2M
Net Assets (End of Year)$2M
Net Income$286K
Employer EIN630260951
Plan Effective Date1976-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Alabama

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

Bank Independent Stock Bonus Plan vs. nearby ESOP plans in Alabama, assets vs. participants Scatter plot of 6 data points. 0500100015002000 -2000200400600 Total assets ($M) Participants Bank Independent Stock Bonus Plan, Total assets ($M): 2.130956 · Participants: 557Bank Independent Stock Bonus PlanStarfish Holdings, Inc. Employee Stock Ownership Plan, Total assets ($M): 515.369863 · Participants: 1644Starfish Holdings, Inc. Employee Stock Ownership PlanInline Electric Employee Stock Ownership Plan, Total assets ($M): 242.741411 · Participants: 298Inline Electric Employee Stock Ownership PlanSignature Homes Employee Stock Ownership Plan, Total assets ($M): 224.790459 · Participants: 125Signature Homes Employee Stock Ownership PlanRadiance Technologies, Inc. Employee Stock Ownership Plan, Total assets ($M): 194.917315 · Participants: 1041Radiance Technologies, Inc. Employee Stock Ownership PlanEmployee Stock Ownership Plan for Employees of David Volkert and Associates, Inc. and Subsidiaries, Total assets ($M): 181.843353 · Participants: 958Employee Stock Ownership Plan for Employees of David Volkert and Associates, Inc. and Subsidiaries
Bank Independent Stock Bonus Plan vs. nearby ESOP plans in Alabama, assets vs. participants
Compare Bank Independent Stock Bonus Plan side-by-side with 3 peers →

Bank Independent Stock Bonus Plan's out-of-state ESOP peers by assets and headcount

Outside Alabama, the nearest ESOP by assets is Maddox Electric Company Inc. Employee Stock Ownership Plan in FL ($2M); by covered participants it is Ksm Business Services, Inc. Employee Stock Ownership Plan in IN (559 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (557 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 Bank Independent Stock Bonus Plan assets move in 2024? ▼
Bank Independent Stock Bonus Plan grew sharply - up 15.5% during 2024, from $2M to $2M. Reported net income was $286K.
How have Bank Independent plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Bank Independent's sponsor-wide assets grew 19.4%, from $70M to $83M.
Which ESOP plans are similar in size to Bank Independent Stock Bonus Plan? ▼
Among ESOP plans in other states, the closest by assets is Maddox Electric Company Inc. Employee Stock Ownership Plan in FL ($2M, N/A participants).
Which ESOP plans cover a similar participant headcount to Bank Independent Stock Bonus Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Ksm Business Services, Inc. Employee Stock Ownership Plan in IN (559 participants, $92M 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 630260951.

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.