THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN
Plan Contact
- Address: 3333 DEPOSIT DRIVE NE,GRAND RAPIDS,MI
- Contact person: SHERI LYNN DUCHEMIN
- Phone: (616) 974-8490
Plan General Information
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is $63,469,694.00.This plan was established in 1999.
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is 1427
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Average Participant Retirement Account Value
In 2023, the average participant retirement account value for THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is $44,477.00
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is $3,768.00.
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is approximately $1,557.00
Investing in this additonal $1,557.00 for 20 years would give you extra $99,683.00, assuming a 10% annual return.
Investing in this additonal $1,557.00 for 20 years would give you extra $99,683.00, assuming a 10% annual return.
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Total Employer Contribution and Match Rate
In 2023, THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN allocates $2,222,626.00 to match its employees' contributions, providing an employer match rate of 47.11% of their contributions
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is 6.35%.
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is 11.07%. This measures the effectiveness of the plan participants' investments in the year.
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN Expense Ratio
In 2023, the investment and administrative expense ratio of THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN is 0.49%.
Enrollment Features
THE NORTHPOINTE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN has the following features:Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
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