Bank Midwest 401(k) match, vesting and fees
What Bank Midwest's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Alerus Financial, N.A. | Schedule C ↗ |
| Independent auditor | Eide Bailly, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2025 medians for 157 defined-contribution plans in management of companies and enterprises with 100 to 499 participants.
| Bank Midwest: employer contribution per participant | $1,667 | |
| Peer median | $1,900 |
| Bank Midwest: average balance | $142,457 | |
| Peer median | $90,270 |
| Bank Midwest: admin expenses ÷ assets | 0.01% | |
| Peer median | 0.26% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $33.8M at the end of plan year 2021 to $31.5M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 225 | $31.5M | $368K | $1,667 | 0.01% | Not published | Form 5500 ↗ |
| 2024 | 239 | $32.2M | $452K | $1,947 | <0.01% | Not published | Form 5500 ↗ |
| 2023 | 228 | $30.2M | $445K | $1,996 | 0.01% | Not published | Form 5500 ↗ |
| 2022 | 235 | $27.3M | $414K | $1,807 | <0.01% | Not published | Form 5500 ↗ |
| 2021 | 223 | $33.8M | $406K | $1,882 | <0.01% | Not published | Form 5500 ↗ |
Other Bank Midwest plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Bank Midwest and Affiliates Employee Stock Ownership Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Eide Bailly, LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Common questions
Does Bank Midwest match 401(k) contributions?
The match terms for the Bank Midwest 401(k) Profit Sharing Plan & Trust have not been published from its filing yet. The plan year 2025 filing reports $368K in employer contributions, about $1,667 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Bank Midwest 401(k) match vested?
The vesting schedule for the Bank Midwest 401(k) Profit Sharing Plan & Trust is not in the data published so far. Your Summary Plan Description states it.
Who manages the Bank Midwest 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Alerus Financial, N.A.. The plan administrator is Bank Midwest.
I left Bank Midwest. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Bank Midwest, (712) 336-0505) or the recordkeeper, Alerus Financial, N.A.. The Bank Midwest old 401(k) page lists the contacts from every plan filing. Find an old Bank Midwest 401(k)
Data from the public Form 5500 annual reports Bank Midwest filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Bank Midwest. Not financial advice. Report a correction · Methodology