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 (2021) 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 2021

P.O. BOX 238 - BOONEVILLE, AR 72927479-675-8231LinkedIn11-50 employeesinsurance

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$14.4M

+28.7% from 2020

Total participants

187

+4.5% from 2020

Average account balance

$85,723

+27.9% from 2020

Annual return

25.98%

+10.18 pp from 2020

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$21.37M

Not enough data

1 years with asset history on file

Average account balance

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

$115K

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.

185

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.

86.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
BKD, LLP7+ years Service code 15 · EIN 44-0160260	Recordkeeping	$23,935
LANDMARK EQUITY ADVISORS LLC4 years Filed as: LANDMARK, PLC Service code 10 · EIN 71-0355269	Accounting	$10,500
STERN BROTHERS1 year Filed as: STERN BROTHERS VALUATION ADVISORS Service code 34 1044 MAIN STREET, SUITE 501 · KANSAS CITY, MO 641052149	Valuation (appraisals, etc.); Direct ...	$6,800

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

$43K

$355 / participant

Contract admin$1K3.1%
Other / not subdivided$41K96.9%

% of EOY assets

0.296%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$85,723

$121,341-29.4%

$189,513-54.8%

$79,386+8.0%

Participation rate

84.2%

86.1%-1.9pp

87.8%-3.6pp

70.7%+13.5pp

Annual return

25.98%

21.08%+4.9pp

555.15%-529.2pp

116.85%-90.9pp

Employer contribution / active EE

$4,690

$3,915+19.8%

$6,162-23.9%

$2,427+93.2%

Participant deferral / active EE

$2,910

$6,395-54.5%

$8,221-64.6%

$4,046-28.1%

Admin fee / account holder

$253

$651-61.1%

$12,045-97.9%

$626-59.6%

Provider

Service type

Compensation

BKD, LLP7+ years

Service code 15 · EIN 44-0160260

Recordkeeping

$23,935

LANDMARK EQUITY ADVISORS LLC4 years

Filed as: LANDMARK, PLC

Service code 10 · EIN 71-0355269

Accounting

$10,500

STERN BROTHERS1 year

Filed as: STERN BROTHERS VALUATION ADVISORS

Service code 34

1044 MAIN STREET, SUITE 501 · KANSAS CITY, MO 641052149

Valuation (appraisals, etc.); Direct ...

$6,800

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