Retirement plan

ROYAL BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN

Name: ROYAL BANCSHARES, INC. - ROYAL BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: ROYAL BANCSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROYAL BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN, ROYAL BANCSHARES, INC.

ROYAL BANCSHARES, INC.EIN 39-1654381Plan #001PY 2023

202 MAIN STREET - ELROY, WI 53929608-462-8401royalbankwi.comLinkedIn51-200 employeesbanking

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$15.5M

+11.4% from 2022

Total participants

201

-2.0% from 2022

Average account balance

$80,306

+5.6% from 2022

Annual return

10.82%

+14.80 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.58M

Not enough data

1 years with asset history on file

Average account balance

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

$93K

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.

179

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.

77.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$780K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$470

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 5 by compensation

Provider	Service type	Compensation
OLSEN THIELEN & CO., LTD.4 years Filed as: OLSON THIELEN & CO., LTD. Service code 10 · EIN 41-1360831	Accounting	$12,500
WIPFLI LLP4 years Service code 15 · EIN 39-0758449	Recordkeeping	$7,750
BANKVALUE ADVISORY SERVICES9+ years Service code 16 1650 W 82ND ST · BLOOMINGTON, MN 55431	Consulting	$5,200
HOFMEISTER INSURANCE1 year Service code 23 PO BOX 428 · HILLSBORO, WI 54634	Insurance services	$5,000
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$650

Plan features & details

Pension benefit codes2E2H2J2K2O2F2T

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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$34K

$240 / participant

Recordkeeping$12K33.7%
Valuation$5K15.2%
Other / not subdivided$18K51.1%

% of EOY assets

0.221%

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: OLSEN THIELEN & CO., LTD
Auditor EIN: 411360831
Audit fees: $12,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,306

$130,294-38.4%

$170,043-52.8%

$71,511+12.3%

Participation rate

94.4%

86.2%+8.2pp

87.0%+7.4pp

67.9%+26.5pp

Annual return

10.82%

20.36%-9.5pp

53.40%-42.6pp

28.86%-18.0pp

Employer contribution / active EE

$2,542

$4,385-42.0%

$6,790-62.6%

$2,589-1.8%

Participant deferral / active EE

$2,677

$6,928-61.4%

$10,410-74.3%

$4,291-37.6%

Admin fee / account holder

$177

$966-81.6%

$12,824-98.6%

$1,588-88.8%

Provider

Service type

Compensation

OLSEN THIELEN & CO., LTD.4 years

Filed as: OLSON THIELEN & CO., LTD.

Service code 10 · EIN 41-1360831

Accounting

$12,500

WIPFLI LLP4 years

Service code 15 · EIN 39-0758449

Recordkeeping

$7,750

BANKVALUE ADVISORY SERVICES9+ years

Service code 16

1650 W 82ND ST · BLOOMINGTON, MN 55431

Consulting

$5,200

HOFMEISTER INSURANCE1 year

Service code 23

PO BOX 428 · HILLSBORO, WI 54634

Insurance services

$5,000

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$650

ROYAL BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROYAL BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT 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