Retirement plan

FIRST NATIONAL BANK OF MOOSE LAKE PROFIT SHARING AND ESOP PLAN

Name: FIRST NATIONAL BANK OF MOOSE LAKE - FIRST NATIONAL BANK OF MOOSE LAKE PROFIT SHARING AND ESOP PLAN (2017) Form 5500
Creator: FIRST NATIONAL BANK OF MOOSE LAKE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL BANK OF MOOSE LAKE PROFIT SHARING AND ESOP PLAN, FIRST NATIONAL BANK OF MOOSE LAKE

FIRST NATIONAL BANK OF MOOSE LAKEEIN 41-0425123Plan #001PY 2017

PO BOX 429, 400 ELM AVENUE - MOOSE LAKE, MN 55767218-485-4441firstmooselake.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesHigh assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$8.6M

+5.3% from 2016

Total participants

+10.3% from 2016

Average account balance

$267,599

-4.6% from 2016

Annual return

13.55%

-6.44 pp from 2016

Benchmarks

See 30,802 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,802 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.11M

Not enough data

1 years with asset history on file

Average account balance

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

$337K

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.

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$223K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+10.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22912

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 codes2E2F2H2I2J2O2Q2T3H3I

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.
2I
Stock bonus
Stock bonus plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$811K

$36855 / participant

Other / not subdivided$811K100.0%

% of EOY assets

9.469%

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

$267,599

$171,867+55.7%

$149,718+78.7%

$147,585+81.3%

Participation rate

100.0%

88.2%+11.8pp

87.1%+12.9pp

82.8%+17.2pp

Annual return

13.55%

2113.36%-2099.8pp

1501.70%-1488.2pp

578.57%-565.0pp

Employer contribution / active EE

$4,091

$6,275-34.8%

$5,444-24.9%

$4,876-16.1%

Participant deferral / active EE

$2,163

$7,270-70.3%

$6,568-67.1%

$5,439-60.2%

Admin fee / account holder

$25,338

$13,799+83.6%

$11,283+124.6%

$10,885+132.8%

FIRST NATIONAL BANK OF MOOSE LAKE PROFIT SHARING AND ESOP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST NATIONAL BANK OF MOOSE LAKE PROFIT SHARING AND ESOP 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