Retirement plan

FIRST NATIONAL BANK OF WATERLOO PROFIT SHARING AND SAVINGS PLAN

Name: FIRST NATIONAL BANK OF WATERLOO - FIRST NATIONAL BANK OF WATERLOO PROFIT SHARING AND SAVINGS PLAN (2022) Form 5500
Creator: FIRST NATIONAL BANK OF WATERLOO
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL BANK OF WATERLOO PROFIT SHARING AND SAVINGS PLAN, FIRST NATIONAL BANK OF WATERLOO

FIRST NATIONAL BANK OF WATERLOOEIN 37-0573575Plan #001PY 2022

216 S. MAIN ST. - WATERLOO, IL 62298618-939-6194fnbwaterloo.comLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#002Retirement-$1.2M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$12.6M

-17.7% from 2021

Total participants

160

-16.2% from 2021

Average account balance

$79,298

-4.3% from 2021

Annual return

-13.70%

-29.27 pp from 2021

Benchmarks

See 2,166 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,166 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$15.88M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

204

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$156

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

See the 10-year trajectory. $4.99 for your first month.

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
COMMERCE BANK7 years Service code 50 922 WALNUT STREET · KANSAS CITY, MO 64106	Direct Payment	$29,984
NEWPORT GROUP, INC.7 years Service code 13 · EIN 27-2037969	Contract Administrator	$5,289

Plan features & details

Pension benefit codes2E2F2H2J2K2R2S2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$35K

$248 / participant

Investment mgmt$30K85.0%
Contract admin$5K15.0%

% of EOY assets

0.280%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ANDERS MINKLER HUBER & HELM LLP
Auditor EIN: 430831507
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,298

$102,553-22.7%

$151,611-47.7%

$66,914+18.5%

Participation rate

99.3%

85.5%+13.8pp

87.5%+11.8pp

69.8%+29.5pp

Annual return

-13.70%

-10.82%-2.9pp

3.33%-17.0pp

1.58%-15.3pp

Employer contribution / active EE

$4,167

$4,180-0.3%

$6,166-32.4%

$2,544+63.8%

Participant deferral / active EE

$3,924

$6,641-40.9%

$8,363-53.1%

$4,237-7.4%

Admin fee / account holder

$222

$630-64.8%

$11,616-98.1%

$593-62.6%

Provider

Service type

Compensation

COMMERCE BANK7 years

Service code 50

922 WALNUT STREET · KANSAS CITY, MO 64106

Direct Payment

$29,984

NEWPORT GROUP, INC.7 years

Service code 13 · EIN 27-2037969

Contract Administrator

$5,289

FIRST NATIONAL BANK OF WATERLOO PROFIT SHARING AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST NATIONAL BANK OF WATERLOO PROFIT SHARING AND SAVINGS 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