Retirement plan

FIRSTBANC OF ALABAMA INCORPORATED 401(K) PLAN

Name: FIRSTBANC OF ALABAMA, INCORPORATED - FIRSTBANC OF ALABAMA INCORPORATED 401(K) PLAN (2022) Form 5500
Creator: FIRSTBANC OF ALABAMA, INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRSTBANC OF ALABAMA INCORPORATED 401(K) PLAN, FIRSTBANC OF ALABAMA, INCORPORATED

FIRSTBANC OF ALABAMA, INCORPORATEDEIN 63-0907209Plan #002PY 2022

POST OFFICE BOX 797 - TALLADEGA, AL 351602100256-362-2334

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$8.7M

+5.8% from 2021

Total participants

147

+23.5% from 2021

Average account balance

$58,966

-14.4% from 2021

Annual return

-3.00%

-17.54 pp from 2021

Benchmarks

See 2,163 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,163 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.25M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

162

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

$903K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+9.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$337

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
FNBB CAPITAL MARKETS LLC1 year Service code 27 600 UNIVERSITY PARK PLACE · BIRMINGHAM, AL 35209	Advisory (Plan)	$18,758
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 I515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$17,369
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$4,818

Plan features & details

Pension benefit codes2E2I2H2J2K3I

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$41K

$344 / participant

Investment mgmt$41K100.0%

% of EOY assets

0.472%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WARREN AVERETT, LLC
Auditor EIN: 454084437
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,966

$102,661-42.6%

$151,645-61.1%

$66,949-11.9%

Participation rate

100.0%

85.5%+14.5pp

87.5%+12.5pp

69.8%+30.2pp

Annual return

-3.00%

-10.81%+7.8pp

3.34%-6.3pp

1.57%-4.6pp

Employer contribution / active EE

$3,361

$4,184-19.7%

$6,165-45.5%

$2,545+32.1%

Participant deferral / active EE

$3,221

$6,645-51.5%

$8,363-61.5%

$4,239-24.0%

Admin fee / account holder

$279

$630-55.8%

$11,614-97.6%

$594-53.1%

Provider

Service type

Compensation

FNBB CAPITAL MARKETS LLC1 year

Service code 27

600 UNIVERSITY PARK PLACE · BIRMINGHAM, AL 35209

Advisory (Plan)

$18,758

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

I515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$17,369

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$4,818

FIRSTBANC OF ALABAMA INCORPORATED 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRSTBANC OF ALABAMA INCORPORATED 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