INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS

Plan Contact

  • Address: 2425 FREDERICA STREET,OWENSBORO,KY
  • Contact person: TAWNA WRIGHT
  • Phone: (270) 686-1776

Plan General Information

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Total Retirement Plan Assets

At the end of 2021, the total retirement plan assets of INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is $93,556,013.00.This plan was established in 2022.

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Total Number of Retirement Plan Participants

At the end of 2021, the total number of retirement plan participants in INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is 533

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Average Participant Retirement Account Value

In 2021, the average participant retirement account value for INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is $175,527.00

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Estimated Average Employee Contribution Amount

In 2021, the estimated average employee contribution amount per participant for INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is $4,169.00.

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Estimated Average Employer Match

In 2021, the estimated average employer match for an employee in INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is approximately $1,334.00
Investing in this additonal $1,334.00 for 20 years would give you extra $85,403.00, assuming a 10% annual return.

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Total Employer Contribution and Match Rate

In 2021, INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS allocates $711,255.00 to match its employees' contributions, providing an employer match rate of 32.00% of their contributions

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Total Retirement Plan Asset Growth Rate

In 2021, the total retirement plan asset growth rate of INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is 11.13%.

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Estimated Aggregate Retirement Account Investment Gain/Loss

In 2021, the estimated aggregate retirement account investment gain/loss for INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is 11.40%. This measures the effectiveness of the plan participants' investments in the year.

INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS Expense Ratio

In 2021, the investment and administrative expense ratio of INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN WITH 401 K PROVISIONS is 0.11%.

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