Retirement plan

FIRST CITIZENS FINANCIAL CORP EMPLOYEE STOCK OWNERSHIP PLAN

Name: FIRST CITIZENS FINANCIAL CORP - FIRST CITIZENS FINANCIAL CORP EMPLOYEE STOCK OWNERSHIP PLAN (2020) Form 5500
Creator: FIRST CITIZENS FINANCIAL CORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST CITIZENS FINANCIAL CORP EMPLOYEE STOCK OWNERSHIP PLAN, FIRST CITIZENS FINANCIAL CORP

FIRST CITIZENS FINANCIAL CORPEIN 42-1113318Plan #003PY 2020

P.O. BOX 1708, 2601 FOURTH STREET S.W. - MASON CITY, IA 504021708641-423-1600

Other plans on this EIN

1 filing

#004Retirement-$31.7M assets

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$31.9M

+3.2% from 2019

Total participants

236

-2.1% from 2019

Average account balance

$135,917

+5.8% from 2019

Annual return

8.07%

+0.65 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$35.40M

Not enough data

1 years with asset history on file

Average account balance

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

$148K

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.

240

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$725K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.68%

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 codes2E2I2P2Q3I3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$135,917

$136,307-0.3%

$177,840-23.6%

$73,493+84.9%

Participation rate

99.5%

86.1%+13.4pp

87.7%+11.8pp

70.7%+28.8pp

Annual return

8.07%

18.68%-10.6pp

48.32%-40.3pp

28.51%-20.4pp

Employer contribution / active EE

$4,340

$3,712+16.9%

$5,919-26.7%

$2,270+91.2%

Participant deferral / active EE

$5,829-100.0%

$7,714-100.0%

$3,740-100.0%

Admin fee / account holder

$596-100.0%

$12,431-100.0%

$513-100.0%

FIRST CITIZENS FINANCIAL CORP EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FIRST CITIZENS FINANCIAL CORP EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion