Retirement plan

METRO BANK 401(K) PLAN

Name: METRO BANK - METRO BANK 401(K) PLAN (2017) Form 5500
Creator: METRO BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METRO BANK 401(K) PLAN, METRO BANK

METRO BANKEIN 62-1372975Plan #001PY 2017

800 MARTIN STREET SOUTH - PELL CITY, AL 35128205-884-2265

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$12.6M

+18.3% from 2016

Total participants

176

-5.4% from 2016

Average account balance

$72,318

+26.5% from 2016

Annual return

12.41%

+5.13 pp from 2016

Benchmarks

See 2,201 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,201 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.57M

Not enough data

1 years with asset history on file

Average account balance

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

$123K

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.

184

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$399

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

Top 2 by compensation

Provider	Service type	Compensation
WARREN AVERETT, LLC3+ years Filed as: WARREN AVERETT ASSET MANAGEMENT LLC Service code 15 · EIN 62-1229657	Recordkeeping	$56,798
MERCER2 years Filed as: MERCER CAPITAL Service code 34 5100 POPLAR STREET · MEMPHIS, TN 38137	Valuation (appraisals, etc.)	$8,640

Plan features & details

Pension benefit codes2E2F2G2J2K2T2O

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.
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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$68K

$450 / participant

Investment mgmt$57K83.0%
Other / not subdivided$12K17.0%

% of EOY assets

0.544%

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: TAYLOR, VISE, BROWN & KING
Auditor EIN: 262703960
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,318

$89,739-19.4%

$149,721-51.7%

$62,293+16.1%

Participation rate

98.7%

85.1%+13.6pp

87.1%+11.6pp

69.5%+29.2pp

Annual return

12.41%

21.01%-8.6pp

1501.67%-1489.3pp

28.90%-16.5pp

Employer contribution / active EE

$3,177

$3,233-1.7%

$5,444-41.7%

$2,042+55.5%

Participant deferral / active EE

$3,553

$4,797-25.9%

$6,568-45.9%

$3,169+12.1%

Admin fee / account holder

$393

$551-28.6%

$11,282-96.5%

$479-17.9%

Provider

Service type

Compensation

WARREN AVERETT, LLC3+ years

Filed as: WARREN AVERETT ASSET MANAGEMENT LLC

Service code 15 · EIN 62-1229657

Recordkeeping

$56,798

MERCER2 years

Filed as: MERCER CAPITAL

Service code 34

5100 POPLAR STREET · MEMPHIS, TN 38137

Valuation (appraisals, etc.)

$8,640

METRO BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METRO BANK 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