Retirement plan

1ST SOURCE CORPORATION EMPLOYEE STOCK OWNERSHIP AND PROFIT SHARING PLAN

Name: 1ST SOURCE CORPORATION - 1ST SOURCE CORPORATION EMPLOYEE STOCK OWNERSHIP AND PROFIT SHARING PLAN (2024) Form 5500
Creator: 1ST SOURCE CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 1ST SOURCE CORPORATION EMPLOYEE STOCK OWNERSHIP AND PROFIT SHARING PLAN, 1ST SOURCE CORPORATION

1ST SOURCE CORPORATIONEIN 35-1068133Plan #003PY 2024

100 NORTH MICHIGAN STREET - SOUTH BEND, IN 466011630574-235-26641st-source.comLinkedIn1-10 employeeshuman resources

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$268M

-12.9% from 2016

Total participants

1,476

+0.1% from 2016

Average account balance

$182,807

-12.2% from 2016

Annual return

15.00%

-17.67 pp from 2016

Benchmarks

See 154 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants1,000-4,999

Cohort154 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$267.99M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$183K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

1,466

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.00%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$119

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
ASCENSUS LLC5 years Filed as: FUTUREPLAN BY ASCENSUS Service code 64 PO BOX 55788 · BOSTON, MA 02205	Recordkeeping Fees	$143,333
FORVIS, LLP1 year Filed as: FORVIS Service code 10 · EIN 44-0160260 PO BOX 200870 · DALLAS, TX 75320	Accounting	$20,250
LOCKTON INVESTMENT ADVISORS, LLC1 year Filed as: MIDWEST SERIES OF LOCKTON COMPANIES Service code 49 · EIN 20-3354970 500 W MONROE ST STE 3400 · CHICAGO, IL 60661	Other Services	$10,500

Plan features & details

Pension benefit codes2E2H2J2K2O3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$174K

$146 / participant

Legal$5710.3%
Contract admin$153K88.0%
Other / not subdivided$20K11.6%

% of EOY assets

0.065%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $20,250
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$182,807

$148,970+22.7%

$133,698+36.7%

$200,096-8.6%

Participation rate

99.2%

79.4%+19.8pp

76.4%+22.7pp

72.0%+27.1pp

Annual return

15.00%

27.07%-12.1pp

580.90%-565.9pp

34.26%-19.3pp

Employer contribution / active EE

$4,440

$3,561+24.7%

$4,218+5.3%

$3,038+46.2%

Participant deferral / active EE

$6,171

$6,140+0.5%

$7,016-12.0%

$5,090+21.2%

Admin fee / account holder

$119

$144-17.5%

$6,703-98.2%

$269-55.9%

Provider

Service type

Compensation

ASCENSUS LLC5 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 64

PO BOX 55788 · BOSTON, MA 02205

Recordkeeping Fees

$143,333

FORVIS, LLP1 year

Filed as: FORVIS

Service code 10 · EIN 44-0160260

PO BOX 200870 · DALLAS, TX 75320

Accounting

$20,250

LOCKTON INVESTMENT ADVISORS, LLC1 year

Filed as: MIDWEST SERIES OF LOCKTON COMPANIES

Service code 49 · EIN 20-3354970

500 W MONROE ST STE 3400 · CHICAGO, IL 60661

Other Services

$10,500

1ST SOURCE CORPORATION EMPLOYEE STOCK OWNERSHIP AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

1ST SOURCE CORPORATION EMPLOYEE STOCK OWNERSHIP AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion