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 (2020) 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 2020

P.O. BOX 238 - BOONEVILLE, AR 72927479-675-2747LinkedIn11-50 employeesinsurance

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$11.2M

+15.7% from 2019

Total participants

179

-2.7% from 2019

Average account balance

$67,002

+16.4% from 2019

Annual return

15.80%

-1.16 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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 2 by compensation

Provider	Service type	Compensation
BKD, LLP6+ years Service code 15 · EIN 44-0160260	Recordkeeping	$28,470
LANDMARK EQUITY ADVISORS LLC3 years Filed as: LANDMARK, PLC Service code 10 · EIN 71-0355269	Accounting	$10,150

Plan features & details

Pension benefit codes2F2H2J2O2T3H3I

Plan features

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
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

$44K

$381 / participant

Contract admin$1K3.0%
Other / not subdivided$43K97.0%

% of EOY assets

0.395%

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: LANDMARK PLC,CPA
Auditor EIN: 710355269
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,002

$136,307-50.8%

$177,848-62.3%

$73,497-8.8%

Participation rate

89.7%

86.1%+3.6pp

87.7%+1.9pp

70.7%+19.0pp

Annual return

15.80%

18.68%-2.9pp

48.33%-32.5pp

28.51%-12.7pp

Employer contribution / active EE

$5,495

$3,712+48.0%

$5,919-7.2%

$2,270+142.1%

Participant deferral / active EE

$2,264

$5,829-61.2%

$7,714-70.6%

$3,740-39.5%

Admin fee / account holder

$264

$596-55.6%

$12,431-97.9%

$513-48.5%

Provider

Service type

Compensation

BKD, LLP6+ years

Service code 15 · EIN 44-0160260

Recordkeeping

$28,470

LANDMARK EQUITY ADVISORS LLC3 years

Filed as: LANDMARK, PLC

Service code 10 · EIN 71-0355269

Accounting

$10,150

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