Plan Ledger DOL Form 5500 · updated monthly

Midstates Bancshares, Inc.401(k)

MIDSTATES BANCSHARES, INC. 401(K) PLAN · HARLAN, IA · plan year 2022

Employer contribution per participant · 2022
$2,265

Midstates Bancshares, Inc.'s 2022 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 $12,485,189 across 117 participant accounts, with employer contributions averaging $2,265 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Iowa (535th of 878), and 3,738th of 4,798 in finance & insurance. In 2022, employees put in $2.37 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$12,485,189
Participants with balances117
Active participants111
Employer contributions$251,397
Employee contributions$595,272
Employer contribution per active participant$2,265
Average account balance$106,711
Benefits paid to participants$971,995
Plan auditUnmodified (clean) audit opinion
AuditorFORVIS
The Midstates Bancshares, Inc. 401(k) match · 2022
Employer contribution per active participant$2,265
Median for plans this size$2,266

Midstates Bancshares, Inc.'s 2022 employer contribution ran below the $2,266 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 470742261 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.