Indiana › Management of companies (holding companies) › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
1st Source Corporation Employee Stock Ownership and Profit Sharing Plan
Sponsored by 1st Source Corporation, South Bend, IN
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.
1st Source Corporation of South Bend, Indiana sponsors 1st Source Corporation Employee Stock Ownership and Profit Sharing Plan, an ESOP with a 401(k) feature. Its Form 5500 for the plan year ending 31 Dec 2025 shows 1,529 participants (1,177 active) and $296M in net assets.
Net assets came to $181,410 per participant in plan year 2024, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $70,381 median for defined contribution plans in management of companies (holding companies). 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 $6.8M during the year, or $5,777 per active participant against a same-size median of $2,045; participants contributed $7.9M and $572K arrived as rollovers and other contributions. Benefits paid out totalled $22.9M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $267K: $175 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $267K. 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 $110M in 2009 to $296M in 2025 (up 170%), and participants from 1,363 to 1,529 (up 12%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $181,410 | $50,295 | $70,381 | $53,102 |
| Employer contributions per active participant | $4,440 | $2,045 | $2,643 | $2,175 |
| Schedule C compensation per participant | $118 | $82.08 | $98.63 | $123 |
| Schedule C compensation, share of net assets | 0.07% | 0.17% | 0.18% | 0.26% |
| Administrative expenses per participant | $118 | $82.20 | $97.39 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), management of companies (holding companies) (680) 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 | 1,529 | $296M | $193,875 | $6.8M | $7.9M | $267K |
| 2024 | 1,476 | $268M | $181,411 | $5.3M | $7.4M | $174K |
| 2023 | 1,437 | $237M | $165,254 | $5.6M | $7.0M | $160K |
| 2022 | 1,454 | $218M | $149,742 | $4.5M | $6.5M | $141K |
| 2021 | 1,367 | $248M | $181,110 | $5.4M | $6.4M | $141K |
| 2020 | 1,425 | $224M | $157,467 | $5.3M | $6.2M | $141K |
| 2019 | 1,399 | $218M | $156,054 | $4.8M | $5.7M | $136K |
| 2018 | 1,352 | $190M | $140,882 | $4.9M | $5.6M | $84K |
| 2017 | 1,318 | $222M | $168,595 | $4.3M | $5.2M | $150K |
| 2016 | 1,336 | $203M | $151,975 | $3.3M | $5.1M | $136K |
| 2015 | 1,338 | $177M | $132,333 | $3.7M | $4.9M | $137K |
| 2014 | 1,294 | $183M | $141,736 | $3.8M | $4.6M | $128K |
| 2013 | 1,291 | $176M | $136,397 | $4.3M | $4.6M | $125K |
| 2012 | 1,391 | $146M | $105,134 | $1.8M | $4.9M | $122K |
| 2011 | 1,352 | $140M | $103,403 | $1.7M | $4.7M | $122K |
| 2010 | 1,311 | $128M | $97,842 | $1.6M | $4.4M | $130K |
| 2009 | 1,363 | $110M | $80,599 | $1.5M | $4.7M | $148K |
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$267,761,774
- Employer contributions$6,799,162
- Participant contributions$7,891,021
- Rollovers and other contributions$571,736
- Total contributions$16,121,191
- Total income, including investment results$51,805,201
- Benefits paid$22,865,161
- Administrative expenses$267,029
- Total expenses$23,132,190
- Net income$28,673,011
- Net transfers$0
- Net assets, end of year$296,434,785
Participants
- Active participants1,177
- Retired or separated, receiving benefits36
- Retired or separated, entitled to future benefits316
- Participants with account balances1,526
- Total participants, end of year1,529
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Futureplan by Ascensus | Recordkeeping fees | $103,398 | $0 |
| American Trust Company | Contract Administrator; Recordkeeping and information management; Consulting (general); Trustee (discretionary) | $84,139 | $0 |
| Barnes & Thornburg LLP | Legal | $33,492 | $0 |
| Forvis Mazars | Accounting (including auditing) | $25,000 | $0 |
| Midwest Series of Lockton Compa | Consulting (general) | $21,000 | $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
- Contract administrator fees$208,537
- Legal fees$33,492
- IQPA audit fees$25,000
- Total administrative expenses$267,029
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.
- Registered investment companies (mutual funds)$238M · 80.3%
- Employer securities$41.8M · 14.1%
- Cash (interest and non-interest bearing)$8.1M · 2.7%
- Receivables$7.7M · 2.6%
- Participant loans$859K · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmForvis Mazars, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- 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 plan2HPartial participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2OESOP other than a leveraged ESOP3HPlan 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 551111: Offices of Bank Holding Companies.
Similar plans in Indiana
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Batesville Savings Plan | Batesville Services LLC | 1,916 | $210M | $109,803 |
| Horizon Bancorp Employees' Thrift Plan | Horizon Bancorp | 1,048 | $78.3M | $74,760 |
| CSC Generation Holdings, LLC 401(k) Plan | CSC Generation Holdings, LLC | 2,155 | $49.5M | $22,962 |
| Avis Industrial Corporation 401(k) Plan | Avis Industrial Corporation | 919 | $47.7M | $51,930 |
| Koch Companies 401(k) Plan | Koch Enterprises, Inc. | 2,886 | $201M | $69,593 |
| Huse Culinary Inc. 401(k) Plan | Huse Culinary Inc. | 753 | $11.7M | $15,571 |
Defined contribution plans in management of companies (holding companies) closest in size.
Questions and answers
How big is 1st Source Corporation Employee Stock Ownership and Profit Sharing Plan?
1,529 participants at the end of the plan year ending 31 Dec 2025, of whom 1,177 were active employees, with net assets of $296,434,785. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does 1st Source Corporation contribute per participant?
The filing reports $6,799,162 in employer contributions for the year, which is $5,777 per active participant; the median for plans of the same type and size was $2,045 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 $267,029 in compensation to service provider organisations, $175 per participant or 0.09% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $267,029. 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 1st Source Corporation. Recordkeeping or administration: Futureplan by Ascensus and American Trust Company. Trustee or custodian: American 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. 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 28 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 35-1068133, plan 003, received 28 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.