Retirement plan

FIRST FINANCIAL BANK 401(K) PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP SAVINGS PLAN

Name: FIRST FINANCIAL BANK - FIRST FINANCIAL BANK 401(K) PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP SAVINGS PLAN (2019) Form 5500
Creator: FIRST FINANCIAL BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST FINANCIAL BANK 401(K) PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP SAVINGS PLAN, FIRST FINANCIAL BANK

FIRST FINANCIAL BANKEIN 71-0056740Plan #001PY 2019

214 N. WASHINGTON, SUITE 421 - EL DORADO, AR 717305646870-881-5270ffb1.comLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh feesHigh cashLow participant contribution

Top hat statement on fileNQDC

Filed March 9, 2020

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$51.5M

+13.1% from 2018

Total participants

417

+24.9% from 2018

Average account balance

$155,552

-0.2% from 2018

Annual return

19.06%

+21.57 pp from 2018

Benchmarks

See 1,467 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,467 peers

Snapshot2019

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Analytics

Total assets (EOY)

Plan-year ending balance

$58.57M

Not enough data

1 years with asset history on file

Average account balance

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

$197K

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.

298

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.

85.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.31M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+16.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$417

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 5 by compensation

Provider	Service type	Compensation
SWERDLIN & COMPANY4 years Service code 64 · EIN 58-1392124	Recordkeeping Fees	$57,576
BKD, LLP5+ years Service code 10 · EIN 44-0160260	Accounting	$20,312
CLEARBROOK INVESTMENT5+ years Service code 28 · EIN 11-3290218	Investment Management	$10,000
MERCER5+ years Filed as: MERCER CAPITAL Service code 34 · EIN 62-1154641	Valuation (appraisals, etc.)	$8,233
FRIDAY ELDREDGE & CLARK1 year Filed as: FRIDAY ELDREDGE & CLARK LLP Service code 29 · EIN 71-0253637	Legal	$7,508

Plan features & details

Pension benefit codes2E2F2H2J2K2O2Q2T

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).
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.
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.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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

4 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$125K

$333 / participant

Investment mgmt$10K8.0%
Contract admin$58K46.0%
Other / not subdivided$58K46.0%

% of EOY assets

0.243%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BKD, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$155,552

$88,515+75.7%

$162,163-4.1%

$67,579+130.2%

Participation rate

77.1%

86.8%-9.7pp

87.6%-10.4pp

71.3%+5.8pp

Annual return

19.06%

27.04%-8.0pp

115.59%-96.5pp

378.56%-359.5pp

Employer contribution / active EE

$2,551

$3,563-28.4%

$5,614-54.6%

$2,148+18.8%

Participant deferral / active EE

$2,295

$5,724-59.9%

$7,298-68.6%

$3,539-35.2%

Admin fee / account holder

$378

$124+205.6%

$10,843-96.5%

$142+165.6%

Provider

Service type

Compensation

SWERDLIN & COMPANY4 years

Service code 64 · EIN 58-1392124

Recordkeeping Fees

$57,576

BKD, LLP5+ years

Service code 10 · EIN 44-0160260

Accounting

$20,312

CLEARBROOK INVESTMENT5+ years

Service code 28 · EIN 11-3290218

Investment Management

$10,000

MERCER5+ years

Filed as: MERCER CAPITAL

Service code 34 · EIN 62-1154641

Valuation (appraisals, etc.)

$8,233

FRIDAY ELDREDGE & CLARK1 year

Filed as: FRIDAY ELDREDGE & CLARK LLP

Service code 29 · EIN 71-0253637

Legal

$7,508

FIRST FINANCIAL BANK 401(K) PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST FINANCIAL BANK 401(K) PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP SAVINGS PLAN

Top hat statement on fileNQDC

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