First Hope BancorpESOP
FIRST HOPE BANCORP EMPLOYEE STOCK OWNERSHIP PLAN · HOPE, NJ · plan year 2024
First Hope Bancorp'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 $1,697,040 across 97 participant accounts, with employer contributions averaging $3,165 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 New Jersey (2,171st of 2,419), and 4,677th of 4,798 in finance & insurance. active participation has shrunk from 88 to 79 since 2022.
First Hope Bancorp's 2024 employer contribution ran above the $1,313 median for plans its size, placing it in the top quarter of its peers. 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.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 223079560 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.