Retirement plan

SOUTHERN BANCORP 401(K) RETIREMENT SAVINGS AND EMPLOYEE STOCK OWNERSHIP PLAN

Name: SOUTHERN BANCORP, INC. - SOUTHERN BANCORP 401(K) RETIREMENT SAVINGS AND EMPLOYEE STOCK OWNERSHIP PLAN (2024) Form 5500
Creator: SOUTHERN BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN BANCORP 401(K) RETIREMENT SAVINGS AND EMPLOYEE STOCK OWNERSHIP PLAN, SOUTHERN BANCORP, INC.

SOUTHERN BANCORP, INC.EIN 71-0646525Plan #003PY 2024

400 HARDIN RD, STE 100 - LITTLE ROCK, AR 72211501-492-3496banksouthern.comLinkedIn201-500 employeesbanking

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$53.9M

+17.9% from 2023

Total participants

707

+6.5% from 2023

Average account balance

$76,580

+11.0% from 2023

Annual return

11.32%

-1.92 pp from 2023

Benchmarks

See 1,548 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,548 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$53.91M

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

704

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.85M

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

+11.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$203

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
NEWPORT GROUP, INC.8+ years Service code 15 · EIN 27-2037969	Recordkeeping	$79,664
HAGAN NEWKIRK FINANCIAL SERVICES8+ years Service code 26 6325 RANCH DRIVE · LITTLE ROCK, AR 72223	Advisory (Participants)	$50,769
NEWPORT GROUP, INC.8+ years Filed as: NEWPORT TRUST COMPANY Service code 18 · EIN 27-4411131	Custodial (other than securities); Tr...	$12,653

Plan features & details

Pension benefit codes2E2F2G2J2O2T3D3H

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).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all 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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$143K

$251 / participant

Recordkeeping$24K17.0%
Trustee / custodial$13K8.8%
Investment mgmt$51K35.5%
Contract admin$55K38.6%

% of EOY assets

0.265%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOGANTAYLOR LLP
Auditor EIN: 731413977
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,580

$129,159-40.7%

$184,243-58.4%

$77,714-1.5%

Participation rate

99.5%

87.4%+12.1pp

86.8%+12.6pp

70.6%+28.9pp

Annual return

11.32%

33.22%-21.9pp

28.82%-17.5pp

31.26%-19.9pp

Employer contribution / active EE

$4,149

$4,410-5.9%

$6,427-35.4%

$2,727+52.2%

Participant deferral / active EE

$6,124

$7,305-16.2%

$9,132-32.9%

$4,649+31.7%

Admin fee / account holder

$203

$256-20.5%

$13,914-98.5%

$433-53.1%

Provider

Service type

Compensation

NEWPORT GROUP, INC.8+ years

Service code 15 · EIN 27-2037969

Recordkeeping

$79,664

HAGAN NEWKIRK FINANCIAL SERVICES8+ years

Service code 26

6325 RANCH DRIVE · LITTLE ROCK, AR 72223

Advisory (Participants)

$50,769

NEWPORT GROUP, INC.8+ years

Filed as: NEWPORT TRUST COMPANY

Service code 18 · EIN 27-4411131

Custodial (other than securities); Tr...

$12,653

SOUTHERN BANCORP 401(K) RETIREMENT SAVINGS AND EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN BANCORP 401(K) RETIREMENT SAVINGS AND EMPLOYEE STOCK OWNERSHIP 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