Richmond Mutual Bancorporation, Inc.ESOP
RICHMOND MUTUAL BANCORPORATION, INC. EMPLOYEE STOCK OWNERSHIP PLAN · RICHMOND, IN · plan year 2024
Richmond Mutual Bancorporation, Inc.'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 $3,283,098 across 180 participant accounts, with employer contributions averaging $5,166 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 Indiana (1,303rd of 1,562), and 693rd of 786 in management of companies.
Richmond Mutual Bancorporation, Inc.'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.
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Source: U.S. Department of Labor, Form 5500 series, EIN 364926041 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.