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Wealth Management - ESOP & Retirement Services

ESOPs

An ESOP is a qualified employee benefit plan that invests some or all of its assets in qualifying employer securities. An ESOP can borrow money to acquire employer securities and can deliver deferred payment or even the elimination of capital gains taxes.

ESOPs are typically used to buy out a major shareholder’s stock, finance corporate operations or growth through a tax-deductible vehicle or foster and increase employee involvement through ownership

The primary business benefits of an ESOP include increased productivity, corporate financing through tax-deductible contributions, provide for ownership succession, provide a market for the company’s stock and provide a company-oriented retirement plan option

We serve as trustee for on-going plans, agent for internal trustee or independent trustee on purchase and sale transactions. We can act as a directed or discretionary trustee

Philosophy

  • Act solely in the best interest of plan participants and their beneficiaries

  • Follow documents, unless inconsistent with ERISA guidelines plan

  • Always act prudently

Trustee Responsibilities

  • Review/Analyze Plan

  • Annual valuation

  • Vote employer securities

  • Investment diversification

  • Analyze proposed transactions

Fees

  • No minimum

  • Extremely competitive

  • Based on complexity, size, and time involved

  • Fixed fee or range of fees

  • Quotes provided  after situation analysis review

 Team

  • Three CPAs, a CFA charter holder and a JD

  • Involved with over 15 ESOP buy/sell and more than 100 M&A transactions

  • Extensive ERISA plan experience

  • Member of ESOP Association, National Center for Employee Ownership and Ohio  Employee Ownership Center

  • Experience in tax, accounting, merger/acquisition, legal, lending, financial analysis and plan administrative experience

  • Worked with numerous attorneys and valuation firms across the country

  • Reviewed and analyzed substantial number of valuation reports

Why Choose BNC National Bank as your ESOP Trustee?

  • We have more experience with ESOP transactions and plans than any other Minnesota financial institution

  • We offer a diverse set of accounting, legal, valuation, credit analysis and communication skills to address your ESOP plan needs and issues

 

Want more information?  It's Easy!
Visit a local branch, Fill out a Contact Us form and a wealth management specialist will contact you, or Call us at 1-800-BNC-BANK.

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