How much does First Federal Savings Bank contribute to its ESOP?

In 2024, employer contributions to the First Federal Savings Bank plan averaged $1,721 per active participant, above the $1,313 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the First Federal Savings Bank 401(k)?

The average participant account balance was $16,227 for plan year 2024, based on 130 accounts.

First Federal Savings BankESOP

Name: First Federal Savings Bank 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

FIRST FEDERAL SAVINGS BANK EMPLOYEE STOCK OWNERSHIP PLAN · EVANSVILLE, IN · plan year 2024

Employer contribution per participant · 2024

$1,721

First Federal Savings Bank's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $2,109,573 across 130 participant accounts, with employer contributions averaging $1,721 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Indiana (1,390th of 1,562), and 4,653rd of 4,798 in finance & insurance.

Plan summary
Net assets, end of year$2,109,573
Participants with balances130
Active participants107
Employer contributions$184,167
Employee contributions—
Employer contribution per active participant$1,721
Average account balance$16,227
Benefits paid to participants$126,770
Plan auditUnmodified (clean) audit opinion
AuditorHARDING SHYMANSKI & COMPANY P.S.C.

Employer contributions to the First Federal Savings Bank plan · 2024

Employer contribution per active participant$1,721

Median for plans this size$1,313

First Federal Savings Bank's 2024 employer contribution ran above the $1,313 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

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Source: U.S. Department of Labor, Form 5500 series, EIN 350309740 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.