Retirement plan

FIRST NATIONAL CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN

Name: FIRST NATIONAL CORPORATION - FIRST NATIONAL CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN (2015) Form 5500
Creator: FIRST NATIONAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN, FIRST NATIONAL CORPORATION

FIRST NATIONAL CORPORATIONEIN 54-1232965Plan #003PY 2015

112 WEST KING STREET - STRASBURG, VA 22657540-465-9121

Other plans on this EIN

1 filing

#002Retirement-$7.5M assets

Prospect flagsHigh cashLow assets / participant

How to read this page

Total assets (EOY)

$2.3M

No prior year

Total participants

219

No prior year

Average account balance

$10,725

No prior year

Annual return

10.73%

No prior year

Benchmarks

See 2,156 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,156 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.18%

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

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 codes2E2I2K2O3I

Plan features

2E
Profit-sharing
Profit-sharing plan.
2I
Stock bonus
Stock bonus plan.
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.
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 cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: YOUNT, HYDE & BARBOUR PC
Auditor EIN: 541149263
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,725

$70,667-84.8%

$123,105-91.3%

$52,331-79.5%

Participation rate

99.5%

83.7%+15.7pp

86.8%+12.7pp

68.1%+31.4pp

Annual return

10.73%

6.23%+4.5pp

13.22%-2.5pp

4.54%+6.2pp

Employer contribution / active EE

$2,498

$2,946-15.2%

$5,151-51.5%

$1,882+32.7%

Participant deferral / active EE

$4,493-100.0%

$6,229-100.0%

$3,022-100.0%

Admin fee / account holder

$506-100.0%

$9,014-100.0%

$592-100.0%

FIRST NATIONAL CORPORATION EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FIRST NATIONAL CORPORATION 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