Retirement plan

FIRST NATIONAL BANK OF BEMIDJI EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

Name: FIRST NATIONAL BANK OF BEMIDJI - FIRST NATIONAL BANK OF BEMIDJI EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST (2022) Form 5500
Creator: FIRST NATIONAL BANK OF BEMIDJI
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL BANK OF BEMIDJI EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST, FIRST NATIONAL BANK OF BEMIDJI

FIRST NATIONAL BANK OF BEMIDJIEIN 41-0145155Plan #002PY 2022

P.O BOX 670 - BEMIDJI, MN 566190670218-751-2430fnbbemidji.comLinkedIn51-200 employeesbanking

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$30.2M

+0.8% from 2021

Total participants

115

+12.7% from 2021

Average account balance

$267,132

-9.9% from 2021

Annual return

12.55%

-9.51 pp from 2021

Benchmarks

See 7,130 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,130 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.02M

Not enough data

1 years with asset history on file

Average account balance

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

$294K

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.

109

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.

99.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$575K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+21.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$27206

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2I2P2Q3I

Plan features

2I
Stock bonus
Stock bonus plan.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$4.3M

$44176 / participant

Other / not subdivided$4M100.0%

% of EOY assets

14.342%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$267,132

$110,083+142.7%

$151,645+76.2%

$68,490+290.0%

Participation rate

98.0%

84.0%+14.0pp

87.5%+10.5pp

67.9%+30.1pp

Annual return

12.55%

-10.12%+22.7pp

3.34%+9.2pp

-7.85%+20.4pp

Employer contribution / active EE

$4,847

$4,470+8.4%

$6,165-21.4%

$2,597+86.7%

Participant deferral / active EE

$6,526-100.0%

$8,363-100.0%

$4,028-100.0%

Admin fee / account holder

$38,312

$7,718+396.4%

$11,614+229.9%

$5,403+609.1%

FIRST NATIONAL BANK OF BEMIDJI EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST NATIONAL BANK OF BEMIDJI EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST

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