How much does Focus Bank contribute to its ESOP?

In 2024, employer contributions to the Focus Bank plan averaged $205 per active participant, below 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 Focus Bank 401(k)?

The average participant account balance was $40,011 for plan year 2024, based on 188 accounts.

Focus BankESOP

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

SECURITY STATE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN · CHARLESTON, MO · plan year 2024

Employer contribution per participant · 2024

$205

Focus 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 $7,522,058 across 188 participant accounts, with employer contributions averaging $205 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 management of companies employers. By assets it is among the smaller plans on file in Missouri (958th of 1,393), and 606th of 786 in management of companies.

Plan summary
Net assets, end of year$7,522,058
Participants with balances188
Active participants171
Employer contributions$35,000
Employee contributions—
Employer contribution per active participant$205
Average account balance$40,011
Benefits paid to participants$354,261
Plan auditUnmodified (clean) audit opinion
AuditorFORVIS MAZARS LLP

Plan history3

Yearassets · accounts · employer contribution

2024$7.5M · 188 accts · $35K emplr

2023$6.7M · 194 accts · $35K emplr

2022$6.3M · 196 accts · $35K emplr

Employer contributions to the Focus Bank plan · 2024

Employer contribution per active participant$205

Median for plans this size$1,313

2024$205 per active participant

2023$197 per active participant

2022$197 per active participant

Focus Bank's 2024 employer contribution ran below the $1,313 median for plans its size, in the bottom 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.

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

Similar plansManagement of Companies · Missouri
C.B. Management Co., Inc. MO$22.7M · 0.17%
Cnh Reman, LLC MO$20.9M · 0.11%
Security State Bancshares, Inc. MO$17.0M · 0.86%
Ftl Capital, LLC MO$9.2M · 0.04%
Snorkel International LLC MO$6.6M · 0.44%
Traders General Agency, Inc. MO$6.0M · 1.03%
Fountainbleau Management Group, Inc. MO$76K · 0.22%

Why are you looking at this plan?

Compare
401(k) plans in Missouri
Worked here before? Find your old 401(k)
401(k) plans in Management of Companies
Plans of similar size
Fee benchmarks by plan size

Source: U.S. Department of Labor, Form 5500 series, EIN 430271450 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.