Retirement plan

NORTHWEST BANK & TRUST COMPANY 401(K) PLAN

Name: NWBT, INC. - NORTHWEST BANK & TRUST COMPANY 401(K) PLAN (2024) Form 5500
Creator: NWBT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHWEST BANK & TRUST COMPANY 401(K) PLAN, NWBT, INC.

NWBT, INC.EIN 42-0442354Plan #003PY 2024

100 EAST KIMBERLY ROAD - DAVENPORT, IA 52806563-388-2667bank-northwest.comLinkedIn201-500 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$3.2M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$10.3M

+35.9% from 2023

Total participants

110

-11.3% from 2023

Average account balance

$96,551

+53.7% from 2023

Annual return

31.85%

+15.34 pp from 2023

Benchmarks

See 7,155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.33M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

107

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$825K

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

+31.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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 codes2E2J2F2G3D

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).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all 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.
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

$162

$2 / participant

Recordkeeping$162100.0%

% of EOY assets

0.002%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SCOTT SKIBBIE, CPA
Auditor EIN: 270851321
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$96,551

$138,393-30.2%

$184,256-47.6%

$80,959+19.3%

Participation rate

96.0%

83.9%+12.1pp

86.8%+9.2pp

67.7%+28.3pp

Annual return

31.85%

20.01%+11.8pp

28.85%+3.0pp

35.67%-3.8pp

Employer contribution / active EE

$3,219

$4,847-33.6%

$6,427-49.9%

$2,757+16.8%

Participant deferral / active EE

$7,786

$7,076+10.0%

$9,133-14.7%

$4,300+81.1%

Admin fee / account holder

$10,489-100.0%

$13,899-100.0%

$6,925-100.0%

NORTHWEST BANK & TRUST COMPANY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHWEST BANK & TRUST COMPANY 401(K) 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