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Original filing (PDF)20250804095803NAL0001063728001
INDEPENDENCE BANCSHARES, INC.
Form 5500
FILING_RECEIVED
INDEPENDENCE BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN (WITH 401(K) PROVISIONS)
401(k) retirement plan
Signals · 3
72% in single holding72% employer stockNo recordkeeper disclosed
Active participants
417
Accounts w/ balance
609
Plan assets (EOY)
$87.0M
Net assets (EOY)
$81.8M
How this plan invests
This plan
7 pooled trusts
Schedule D
22 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
88
/ 100
Grade A
Top-tier plan health
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
50
Total plan cost
100
Vendor stack
80
Participation health
100
Knocking points off
- Top holding "Independence Independence Bancshares, Inc. Bancshares, Inc. common stock (758,979 shares)" is 72% of plan.
- 72% of plan in employer / sponsor stock.
- No recordkeeper disclosed on Schedule C.
Helping the score
- Below-peer total fees (5 bps vs 16 bps peer median).
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for INDEPENDENCE BANCSHARES, INC..
Plan sponsor
Name
INDEPENDENCE BANCSHARES, INC.
EIN
61-0955447
Address
2425 FREDERICA STREET · OWENSBORO, KY · 423015437
Phone
(270) 686-1776
Industry
Commercial Banking· Finance & Insurancesee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
002
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-08-04
Pension benefit codes
2E · Profit-sharing
2F · ERISA section 404(c)
2H · Partial participant-directed accounts
2I · Stock bonus
2J · 401(k) feature
2K · 401(m) arrangement
2P · Leveraged ESOP
2Q · S-corporation ESOP
2T · Default investment account (QDIA)
3H · Sponsor in controlled / affiliated group
3I · Requires investment in employer securities
Audit & trust (Schedule H)
Auditor
RINEY HANCOCK CPAS PSC
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
4 rowsAdvisor / Consultant
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| WILSHIRE ADVISORS LLC | 95-2755361 | — | INVESTMENT ADVISORY | $0 | — |
TPA / Administrator
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | 42-0127290 | — | CONTRACT ADMINISTRATOR | $40K | — |
Other
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MORNINGSTAR INVESTMENT MANAGEMENT L | 36-4317381 | — | INV ADV, PARTICIPANTS | $0 | — |
| INDEPENDENCE BANK | 61-0955447 | — | OTHER SERVICES | — | — |
Investments
18 direct securities · 7 pooled funds· $94.5M(100% of reported assets)
Rows tagged as a trust or pooled fund hold many underlying securities. Click one to drill into its own Schedule of Assets — where the individual funds, shares, and CUSIPs live.
Uncategorized
$80.8M
18 holdings
Pooled Separate Account
$13.7M
7 holdings
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| Independence Bancshares, Inc. Bancshares, Inc. common stock (758,979 shares) | — | — | $47.7M | $62.2M | 71.5% | |
| Principal Global Investors Principal Fixed Income Guaranteed Option | — | — | — | $4.4M | 5.0% | |
| Principal Global Investors LargeCap S&P 500 Index Separate Account | — | — | — | $4.3M | 5.0% | |
| PRIN LGCP S&P 500 IDX SA-NE PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 016 | Pooled Separate Account | — | — | $4.3M | 5.0% | |
| PRIN BLUE CHIP SA-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 133 | Pooled Separate Account | — | — | $3.5M | 4.0% | |
| Principal Global Investors Core Fixed Income Separate account | — | — | — | $2.5M | 2.9% | |
| PRIN CORE FIX INC SEP ACCT-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 118 | Pooled Separate Account | — | — | $2.5M | 2.9% | |
| The Vanguard Group, Inc. Vanguard Equity Income Admiral Fund | — | — | — | $2.4M | 2.7% | |
| Fidelity Investments Fidelity International Index Fund | — | — | — | $1.5M | 1.7% | |
| The Vanguard Group, Inc. Vanguard Small Cap Value Index Admiral Fund | — | — | — | $1.2M | 1.4% | |
| PRIN MIDCAP S&P 400 IDX SA-NE PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 023 | Pooled Separate Account | — | — | $926K | 1.1% | |
| Causeway/Barrow Hanley Overseas Separate Account | — | — | — | $902K | 1.0% | |
| PRINCIPAL OVERSEAS SEP ACCT-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 116 | Pooled Separate Account | — | — | $902K | 1.0% | |
| PRIN MIDCAP GROWTH SEP ACCT-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 021 | Pooled Separate Account | — | — | $854K | 1.0% | |
| PRIN SMCAP S&P 600 INDEX SA-NE PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 028 | Pooled Separate Account | — | — | $656K | 0.8% | |
| PGIM Investments, LLC PGIM Jennison Small Company R6 Fund | — | — | — | $433K | 0.5% | |
| The Vanguard Group, Inc. Vanguard Int Term Invest Grade Fund | — | — | — | $236K | 0.3% | |
| Dimensional Fund Advisors DFA Emerging Markets Core Equity I Fund | — | — | — | $206K | 0.2% | |
| BlackRock Financial Mgmt BlackRock Liquidity FedFund | — | — | — | $182K | 0.2% | |
| Federated Hermes, Inc. Federated Hermes Institutional High Yield Bond R6 Fund | — | — | — | $112K | 0.1% | |
| The Vanguard Group, Inc. Vanguard Inflation Admiral Fund | — | — | — | $89K | 0.1% | |
| (E) | — | — | — | $89K | 0.1% | |
| DWS RREEF Real Assets R6 Fund | — | — | — | $72K | <0.1% | |
| Goldman Sachs Asset Mgt Goldman Sachs Financial Square Government R6 Fund | — | — | — | $20K | <0.1% | |
| Federated Hermes, Inc. Federated Hermes Total Return Government Fund | — | — | — | $18K | <0.1% |