ESOP · DOL Form 5500 · 2024
Summit Financial Group, Inc. ESOP
Data updated 2026-08-25
- $389K
- Total assets Small plan by assets
- 358
- Participants Below avg headcount
- 16th
- Percentile by assets National rank
- $1,085
- Avg per participant Low balance/head
Official DOL plan name: Summit Financial Group, Inc. Employee Stock Ownership Plan · Sponsored by Summit Financial Group, Inc. · West Virginia · Management of Enterprises
$389K in assets, 358 participants
Summit Financial Group, Inc.'s Summit Financial Group, Inc. Employee Stock Ownership Plan reported $389K in total assets and 358 participants in its 2024 DOL Form 5500 filing, ranking in the 16th 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.
- #126 in Management of Enterprises (1,133 peers)
Summit Financial Group, Inc. multi-year trail
Summit Financial Group, Inc.'s plans moved -99.2% in assets from 2022 to 2024; this filing shows Summit Financial Group, Inc. Employee Stock Ownership Plan at $389K / 358 participants.
- #126
- in Management of Enterprises (1,133 peers)
- -97.9%
- assets change YoY
The plan reported a net loss of $18M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Summit Financial Group, Inc. Employee Stock Ownership Plan among the smaller filed plans by assets
Summit Financial Group, Inc. Employee Stock Ownership Plan vs every filed plan by assets
End-of-year total assets · plan year 2024 · DOL Form 5500
$388,503 16th percentile higher than 16% of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
Summit Financial Group, Inc. 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. Summit Financial Group, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (358 participants).
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Summit Financial Group, Inc. Employee Stock Ownership Plan reported net income fell from $4M in the plan year 2023 filing to -$18M in the plan year 2024 filing.
- Summit Financial Group, Inc. Employee Stock Ownership Plan end-of-year assets fell from $19M in the plan year 2023 filing to $389K in the plan year 2024 filing.
- Summit Financial Group, Inc. Employee Stock Ownership Plan reported participants fell from 369 in the plan year 2023 filing to 358 in the plan year 2024 filing.
Plan-year Form 5500 strip
Filing strip 550672148 · Summit Financial Group, Inc. PY 2024 · ESOP
Summit Financial Group, Inc. Employee Stock Ownership Plan · $389K · 358 · 16th
- NET $389K
- BOOK 358
- VS-ST 16th
- BOY ESOP
- SCH near Mnx Innovations, Ltd. Employee Stock Ownership Plan and Trust
- EBSA ind #126
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 West Virginia →
Summit Financial Group, Inc. Employee Stock Ownership Plan in the asset neighbourhood
Summit Financial Group, Inc. multi-year asset trail
Sponsor-wide plan assets over time
All Summit Financial Group, Inc. plans reported in each filing year
- Latest sponsor-wide plan assets
- $389K 99.23763653215958% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 782 | $51M |
| 2023 | 2 | 806 | $62M |
| 2024 | 1 | 358 | $389K |
Summit Financial Group, Inc. filing trail (2024)
| Total Assets (Beginning of Year) | $19M |
|---|---|
| Net Assets (End of Year) | $228K |
| Net Income | -$18M |
| Employer EIN | 550672148 |
| Plan Effective Date | 1989-01-01 |
| Filing Status | FILING RECEIVED |
Nearby ESOP Plans in West Virginia
Peer ESOP plans, same state, same plan type, ranked by total assets.
- Triton Employee Stock Ownership Plan $93M · 75
- Mulberry's Independent Home Services, Inc. Employee Stock Ownership Plan $53M · 1,687
- Port Amherst, Ltd. Employee Stock Ownership Plan $53M · 329
- Weirton Geriatric Center, Inc. Employees' Stock Ownership Plan $32M · 157
- Brewer & Company of West Virginia, Inc. Employee Stock Ownership Plan $19M · 55
Summit Financial Group, Inc. Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount
Outside West Virginia, the nearest ESOP by assets is Mnx Innovations, Ltd. Employee Stock Ownership Plan and Trust in IL ($387K); by covered participants it is Peoples Security Bank & Trust Co. Employee Stock Ownership Plan in PA (358 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($389K here).
Similar participant headcount
Nearest other-state filings by covered participants (358 participants); asset peers above are excluded.
- Peoples Security Bank & Trust Co. Employee Stock Ownership Plan (PA) 358 · 0 off
- Jenkins Services, Inc. & Affiliates Employee Stock Ownership Plan and Trust (VA) 358 · 0 off
- Matrix Technologies, Inc. Employee Stock Ownership Plan () 359 · 1 off
- Harborone Bank Employee Stock Ownership Plan (MA) 360 · 2 off
DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.