Ohio › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
SB Financial Group Employee Stock Ownership Plan
Sponsored by SB Financial Group, Defiance, OH
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
SB Financial Group of Defiance, Ohio sponsors SB Financial Group Employee Stock Ownership Plan, an employee stock ownership plan. Its Form 5500 for the plan year ending 31 Dec 2025 shows 344 participants (263 active) and $6.0M in net assets.
Net assets came to $17,588 per participant in plan year 2024, well below the $48,746 median for defined contribution plans with 250 to 499 participants and well below the $92,294 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $205K during the year, or $779 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $1.0M.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $15K: $42.30 per participant, well below the same-size median of $141. Administrative expenses charged to the plan were $17K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $4.2M in 2009 to $6.0M in 2025 (up 43%), and participants from 411 to 344 (down 16%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $17,588 | $48,746 | $92,294 | $53,102 |
| Employer contributions per active participant | — | $2,017 | $3,564 | $2,175 |
| Schedule C compensation per participant | $37.39 | $141 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.21% | 0.30% | 0.17% | 0.26% |
| Administrative expenses per participant | $41.90 | $133 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), finance and insurance (4,391) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 344 | $6.0M | $17,422 | $205K | — | $15K |
| 2024 | 363 | $6.4M | $17,587 | — | — | $14K |
| 2023 | 378 | $5.1M | $13,556 | $100K | — | $14K |
| 2022 | 326 | $6.3M | $19,344 | — | — | $18K |
| 2021 | 380 | $7.9M | $20,763 | $501K | — | $33K |
| 2020 | 355 | $7.5M | $21,242 | $219K | — | $31K |
| 2019 | 332 | $8.2M | $24,630 | — | — | $34K |
| 2018 | 354 | $7.3M | $20,734 | $185K | — | $37K |
| 2017 | 327 | $8.5M | $25,969 | $169K | — | $36K |
| 2016 | 295 | $7.8M | $26,529 | $276K | — | $28K |
| 2015 | 277 | $5.4M | $19,332 | $251K | — | $25K |
| 2014 | 289 | $4.4M | $15,211 | $32K | — | $11K |
| 2013 | 275 | $3.8M | $13,931 | $292K | — | $0 |
| 2012 | 343 | $3.3M | $9,723 | $400K | — | $0 |
| 2011 | 348 | $1.3M | $3,667 | $308K | — | $10K |
| 2010 | 353 | $1.9M | $5,269 | — | — | $12K |
| 2009 | 411 | $4.2M | $10,163 | $619K | — | $25K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$6,384,267
- Employer contributions$205,000
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$205,000
- Total income, including investment results$677,627
- Benefits paid$1,006,971
- Administrative expenses$16,690
- Total expenses$1,023,661
- Net income−$346,034
- Net transfers−$44,788
- Net assets, end of year$5,993,445
Participants
- Active participants263
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits81
- Participants with account balances308
- Total participants, end of year344
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| State Bank and Trust Company | Trustee (discretionary); Investment advisory (plan) | $14,550 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Trustee and custodial fees$14,550
- Recordkeeping fees$2,140
- Total administrative expenses$16,690
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Employer securities$5.9M · 98.1%
- Cash (interest and non-interest bearing)$112K · 1.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmForvis Mazars, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $7,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2OESOP other than a leveraged ESOP3IPlan requiring that all or part of employer contributions be invested and held in employer securities3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522110: Commercial Banking.
Other plans of SB Financial Group
| Plan | Participants | Net assets |
|---|---|---|
| SB Financial Group 401(k) | 385 | $37.8M |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Clearvantage Pooled Employer Plan | Group Plan Systems, LLC | 351 | — | — |
| The Riverside Company 401(k) Plan | Riverside Partners L.L.C. | 337 | $126M | $372,586 |
| Telhio Credit Union, Inc. Retirement Savings Plan | Telhio Credit Union. Inc. | 353 | $19.5M | $55,378 |
| United Ohio Insurance Company 401(k) Savings Plan | United Ohio Insurance Company | 324 | $44.5M | $137,354 |
| Western Reserve Group 401(k) Profit Sharing Plan | Western Reserve Mutual Casualty Company | 357 | $62.0M | $173,580 |
| Heartland Bank 401(k) Profit Sharing Plan | Heartland Bank | 323 | $27.6M | $85,330 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is SB Financial Group Employee Stock Ownership Plan?
344 participants at the end of the plan year ending 31 Dec 2025, of whom 263 were active employees, with net assets of $5,993,445. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does SB Financial Group contribute per participant?
The filing reports $205,000 in employer contributions for the year, which is $779 per active participant; the median for plans of the same type and size was $2,017 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $14,550 in compensation to service provider organisations, $42.30 per participant or 0.24% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $16,690. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is SB Financial Group. Investment advisory or management: State Bank and Trust Company. Trustee or custodian: State Bank and Trust Company. The financial statements were audited by Forvis Mazars, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 16 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 34-1395608, plan 002, received 16 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.