401(k) · DOL Form 5500 · 2024

Southern Michigan Bancorp, Inc. 401(k) Plan

Data updated 2026-08-25

$22M
Total assets Small plan by assets
240
Participants Below avg headcount
72nd
Percentile by assets National rank
$93,600
Avg per participant Below avg balance/head
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Official DOL plan name: Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan · Sponsored by Southern Michigan Bancorp, Inc. · Michigan · Finance & Insurance

$22M in assets, 240 participants

Southern Michigan Bancorp, Inc.'s Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported $22M in total assets and 240 participants in its 2024 DOL Form 5500 filing, ranking in the 72nd 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.

  • #4,962 in Finance & Insurance (8,549 peers)

Coverage in Michigan

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan covers 240 participants in Michigan, about 38% of the average Michigan filer (state average ~638 per filing). Assets: $22M.

#4,962
in Finance & Insurance (8,549 peers)
+20.5%
assets growth YoY

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan's outsized position by total assets

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs every filed plan by assets

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

$22,464,109 Top 28% higher than 72% 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

Southern Michigan Bancorp, 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. Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan sits mid-pack in the medium band (240 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported net income rose from $1M in the plan year 2023 filing to $4M in the plan year 2024 filing.
  • Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan end-of-year assets rose from $19M in the plan year 2023 filing to $22M in the plan year 2024 filing.
  • Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan reported participants rose from 226 in the plan year 2023 filing to 240 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Form 5500 schedule snapshot

Filing strip 382407501 · Southern Michigan Bancorp, Inc. PY 2024 · 401(k)

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan · $22M · 240 · 72nd

  • PHOTO $22M
  • IND 240
  • EOY 72nd
  • 5500 401(k)
  • ASSETS near Numerix LLC 401(k) Savings Plan
  • PCT ind #4962

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 Finance & Insurance retirement plans → · Plans in Michigan →

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan in the asset neighbourhood

Wagner Hardwoods LLC 401(k) Retirement PlanWagner Hardwoods LLC 401(k) …$22MSouthern Michigan Bancorp, Inc. Employee Stock Ownership PlanSouthern Michigan Bancorp, I…$22MNumerix LLC 401(k) Savings PlanNumerix LLC 401(k) Savings P…$22MClare Rose, Inc. Profit Sharing and 401(k) PlanClare Rose, Inc. Profit Shar…$22MRed Rock Retirement Benefits PlanRed Rock Retirement Benefits…$22M
End-of-year total assets ($M) among Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Michigan filing particulars

Total Assets (Beginning of Year)$19M
Net Assets (End of Year)$22M
Net Income$4M
Employer EIN382407501
Plan Effective Date1986-08-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Southern Michigan Bancorp, Inc.)

Sponsor-wide plan assets over time

All Southern Michigan Bancorp, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$22M 28.234468143502262% vs 2022
2024 filing year
$16M$18M$20M$22M$24M 202220232024 $17.5M $22.5M ▲ +28.2%
Year Plans Participants Total Assets
2022 1 168 $18M
2023 1 226 $19M
2024 1 240 $22M

Nearby 401(k) Plans in Michigan

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -100102030 Total assets ($B) Participants Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.022464109 · Participants: 240Southern Michigan Bancorp, Inc. Employee Stock Ownership PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 23.0591668 · Participants: 43053General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 17.26893589 · Participants: 31790Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.768606712 · Participants: 17128The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 9.568379082 · Participants: 42513The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 8.2932975 · Participants: 60497Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan side-by-side with 3 peers →

Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Numerix LLC 401(k) Savings Plan in NY ($22M); by covered participants it is Shangri-La 401(k) Plan in OR (240 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($22M here).

Similar participant headcount

Nearest other-state filings by covered participants (240 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 Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan assets move in 2024? ▼
Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan grew sharply - up 20.5% during 2024, from $19M to $22M. Reported net income was $4M.
How have Southern Michigan Bancorp, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Southern Michigan Bancorp, Inc.'s sponsor-wide assets grew 28.2%, from $18M to $22M.
Which 401(k) plans are similar in size to Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan? ▼
Among 401(k) plans in other states, the closest by assets is Numerix LLC 401(k) Savings Plan in NY ($22M, 166 participants).
Which 401(k) plans cover a similar participant headcount to Southern Michigan Bancorp, Inc. Employee Stock Ownership Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Shangri-La 401(k) Plan in OR (240 participants, N/A 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 382407501.

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.