2023 Form 5500 filing — Lake Elmo Bank Employee Stock Ownership Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241008134146NAL0017712769001) for Lake Elmo Bank Employee Stock Ownership Plan, reported by Lake Elmo Bank under EIN 41-0557070 and plan number 003. It reports 119 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241008134146NAL0017712769001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Lake Elmo Bank
- EIN
- 41-0557070
- Plan number
- 003
- Location
- Lake Elmo, MN
- Participants
- 119
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $9,879,335
- Total liabilities (EOY)
- $2,025
- Net assets (EOY)
- $9,877,310
- Employer contributions
- $362,944
- Total income / additions
- $1,334,540
- Benefits paid
- $1,789,431
- Administrative expenses
- $40,284
- Total expenses
- $1,829,715
- Net increase / (decrease)
- -$495,175
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal | CONTRACT ADMINISTRATOR | $17,113 | not reported in the loaded dataset |
| Eide Bailly | ACCOUNTANT | $14,025 | not reported in the loaded dataset |
| Bank Value Advisory Service | VALUATION SERVICES | $5,200 | not reported in the loaded dataset |