Retirement plan

FIRST WESTERN BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP AND 401(K) PLAN

Name: FIRST WESTERN BANCSHARES, INC. - FIRST WESTERN BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP AND 401(K) PLAN (2015) Form 5500
Creator: FIRST WESTERN BANCSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST WESTERN BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP AND 401(K) PLAN, FIRST WESTERN BANCSHARES, INC.

FIRST WESTERN BANCSHARES, INC.EIN 71-0605306Plan #002PY 2015

P.O. BOX 238 - BOONEVILLE, AR 72927501-675-2747LinkedIn11-50 employeesinsurance

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$6M

No prior year

Total participants

174

No prior year

Average account balance

$39,859

No prior year

Annual return

6.08%

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

$18.58M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

187

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.

91.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+9.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$138

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 3 by compensation

Provider	Service type	Compensation
BKD, LLP1+ years Service code 15 · EIN 44-0160260	Recordkeeping	$23,700
BEALL BARCLAY & COMPANY, PLC1+ years Service code 10 · EIN 71-0355269	Accounting	$8,750
HUSCH BLACKWELL1+ years Service code 29 · EIN 26-1688286	Legal	$6,748

Plan features & details

Pension benefit codes2H2J2P2T3I

Plan features

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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
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.
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

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.)

Expense breakdown

Schedule H Part II

Admin total

$46K

$403 / participant

Other / not subdivided$46K100.0%

% of EOY assets

0.757%

all-in expense ratio

Categories reported

0 / 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: BEALL BARCLAY & COMPANY, PLC
Auditor EIN: 710355269
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,859

$70,667-43.6%

$123,105-67.6%

$52,331-23.8%

Participation rate

79.6%

83.7%-4.1pp

86.8%-7.1pp

68.1%+11.5pp

Annual return

6.08%

6.23%-0.1pp

13.22%-7.1pp

4.54%+1.5pp

Employer contribution / active EE

$2,648

$2,946-10.1%

$5,151-48.6%

$1,882+40.7%

Participant deferral / active EE

$961

$4,493-78.6%

$6,229-84.6%

$3,022-68.2%

Admin fee / account holder

$302

$506-40.4%

$9,014-96.7%

$592-49.0%

Provider

Service type

Compensation

BKD, LLP1+ years

Service code 15 · EIN 44-0160260

Recordkeeping

$23,700

BEALL BARCLAY & COMPANY, PLC1+ years

Service code 10 · EIN 71-0355269

Accounting

$8,750

HUSCH BLACKWELL1+ years

Service code 29 · EIN 26-1688286

Legal

$6,748

FIRST WESTERN BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST WESTERN BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP AND 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