Retirement plan

INDEPENDENT BANCSHARES, INC. SAFE HARBOR 401(K) RETIREMENT PLAN

Name: INDEPENDENT BANCSHARES, INC. - INDEPENDENT BANCSHARES, INC. SAFE HARBOR 401(K) RETIREMENT PLAN (2025) Form 5500
Creator: INDEPENDENT BANCSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INDEPENDENT BANCSHARES, INC. SAFE HARBOR 401(K) RETIREMENT PLAN, INDEPENDENT BANCSHARES, INC.

INDEPENDENT BANCSHARES, INC.EIN 41-1852271Plan #001PY 2025

702 PRENTICE STREET, P.O. BOX 8 - GRANITE FALLS, MN 56241320-669-4431

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$18.1M

+15.4% from 2024

Total participants

140

+26.1% from 2024

Average account balance

$157,727

+7.4% from 2024

Annual return

14.77%

+1.21 pp from 2024

Benchmarks

See 183 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort183 peers

Snapshot2025

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$18.14M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$158K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

115

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

90.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.77%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$10041

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2F2G2R3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.2M

$9092 / participant

Other / not subdivided$1M100.0%

% of EOY assets

6.366%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$157,727

$121,671+29.6%

$211,142-25.3%

$64,340+145.1%

Participation rate

80.3%

76.5%+3.9pp

87.3%-7.0pp

55.2%+25.1pp

Annual return

14.77%

21.43%-6.7pp

46.84%-32.1pp

24.14%-9.4pp

Employer contribution / active EE

$4,020

$4,066-1.1%

$6,442-37.6%

$1,862+115.9%

Participant deferral / active EE

$5,416

$6,049-10.5%

$9,284-41.7%

$2,980+81.7%

Admin fee / account holder

$10,041

$4,774+110.3%

$19,076-47.4%

$3,703+171.2%

INDEPENDENT BANCSHARES, INC. SAFE HARBOR 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INDEPENDENT BANCSHARES, INC. SAFE HARBOR 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion