Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Sterling Bancorp
Sterling Bancorp 401(k)
- Finance and insurance
- Southfiled, MI
- EIN 38-2524834
- 1 plan with Schedule H financials
- Plan year 2024
- Sterling Bancorp, Inc.
- filed as Sterling Bank & Trust FSB
Administrative expenses excluding investment management, per participant · Sterling Bank & Trust 401(k) Plan · plan year 2024
$35.08
Higher than 21% of the 24,371 plans $10 to 50M that report it.
Source
= $15,823 / 451
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251015151104NAL0010302834001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015151104NAL0010302834001, received 2025-10-15
Percentiles compare this plan with the Schedule H plans $10 to 50M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-15.
Cost and contributions
Administrative expenses per participant
$134.48
Higher than 35% of the 25,098 plans $10 to 50M that report it.
Source
= $60,650 / 451
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015151104NAL0010302834001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015151104NAL0010302834001, received 2025-10-15
Administrative expenses as a share of assets
0.209%
Higher than 36% of the 25,132 plans $10 to 50M that report it.
Source
= $60,650 / $28,981,007
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015151104NAL0010302834001, received 2025-10-15
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251015151104NAL0010302834001, received 2025-10-15
Employer contributions per participant
$2,666
Higher than 66% of the 24,050 plans $10 to 50M that report it.
Source
= $1,202,307 / 451
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015151104NAL0010302834001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015151104NAL0010302834001, received 2025-10-15
Employer share of total contributions
38.9%
Higher than 82% of the 24,084 plans $10 to 50M that report it.
Source
= $1,202,307 / $3,090,556
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015151104NAL0010302834001, received 2025-10-15
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251015151104NAL0010302834001, received 2025-10-15
Plan terms, as stated in Sterling Bancorp, Inc.'s SEC filings
Employer match
“The Company maintains a defined contribution plan which provides for an annual matching contribution in an amount equal to 100% of the employee’s contribution up to 6% of the employee’s eligible compensation and also provides that such matching contribution may be made in shares of the Company’s common stock.”
Form 10-K filed 2025-03-14, for the year ended 2024-12-31 · benefits note, 10-K benefits note · source document
Terms quoted from the filing for the year ended 2024-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2S pre-approved plan document · 2E profit-sharing · 3D IRS pre-approved plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2F ERISA 404(c) plan · 2T default investment (QDIA) · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251015151104NAL0010302834001, received 2025-10-15
Full record, Sterling Bank & Trust 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | STERLING BANK & TRUST FSB | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Plan name | STERLING BANK & TRUST 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Sponsor EIN / plan number | 38-2524834 / 001 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Sponsor location | SOUTHFILED, MI | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Filing received | 2025-10-15 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Participants, beginning of year | 473 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Active participants | 223 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Participants, end of year | 461 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Participants with an account balance | 451 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Total assets, beginning of year | $25,628,446 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Total assets, end of year | $28,981,007 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Net assets, end of year | $28,981,007 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Total income | $6,184,314 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Net income | $3,352,561 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Employer contributions | $1,202,307 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Participant contributions | $1,862,115 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Other contributions (incl. rollovers) | $26,134 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Total contributions | $3,090,556 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Benefit payments | $2,771,103 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Total expenses (incl. benefit payments) | $2,831,753 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Total administrative expenses | $60,650 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Contract administrator fees | $15,823 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Investment advisory and management fees | $44,827 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Administrative expenses excluding investment management | $15,823 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Held in common/collective trusts | $1,609,795 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Held in mutual funds | $24,956,256 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251015151104NAL0010302834001, received 2025-10-15 |
| Independent auditor | MEADEN & MOORE, LTD. | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251015151104NAL0010302834001, received 2025-10-15 |
Position = column in the DOL layout for form year 2024. Filing 20251015151104NAL0010302834001, received 2025-10-15.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| GLOBAL RETIREMENT PARTNERS | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $29,058 | no |
| THE VANGUARD GROUP, INC.recordkeeper | NONE | 99 Other fees; 37 Participant loan processing; 64 Recordkeeping fees; 50 Direct payment from the plan; 15 Recordkeeping and information management; 52 Investment management fees paid indirectly by plan; 68 Soft dollars commissions | $15,823 | yes |
| DAHRING CUSMANO AND ASSOCIATES | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $15,769 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251015151104NAL0010302834001, received 2025-10-15.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $25,628,446 | $28,981,007 | 13.1% |
| Participants with a balance | 462 | 451 | -2.4% |
| Administrative expenses | $90,237 | $60,650 | -32.8% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $1,229,836 | $1,202,307 | -2.2% |
Prior filing 20241004133234NAL0012271217001, received 2024-10-04; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: STERLING BANK & TRUST FSB; SEC registrant: Sterling Bancorp, Inc. (CIK 1680379, matched by 11-K plan title; display name from the Form 11-K cover).