Spring Bancorp, Inc.ESOP
BANK OF SPRINGFIELD EMPLOYEE STOCK OWNERSHIP PLAN · SPRINGFIELD, IL · plan year 2024
Spring Bancorp, 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 $4,232,043 across 392 participant accounts, with employer contributions averaging $2,785 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 Illinois (3,057th of 3,702), and 4,501st of 4,798 in finance & insurance. active participation has grown from 318 to 358 since 2022.
Spring Bancorp, 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 371224470 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.