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 (2021) 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 2021

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

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$39.1M

+21.6% from 2020

Total participants

564

+21.8% from 2020

Average account balance

$70,543

-0.1% from 2020

Annual return

18.58%

+4.54 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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.5+ years Service code 15 · EIN 27-2037969	Recordkeeping	$86,095
HAGAN NEWKIRK FINANCIAL SERVICES5+ years Service code 26 6325 RANCH DRIVE · LITTLE ROCK, AR 72223	Advisory (Participants)	$43,262
NEWPORT GROUP, INC.5+ years Filed as: NEWPORT TRUST COMPANY Service code 18 · EIN 27-4411131	Custodial (other than securities); Tr...	$9,026

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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$138K

$324 / participant

Investment mgmt$43K31.3%
Contract admin$86K62.2%
Other / not subdivided$9K6.5%

% of EOY assets

0.354%

all-in expense ratio

Categories reported

2 / 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

$70,543

$111,491-36.7%

$189,545-62.8%

$86,821-18.7%

Participation rate

97.7%

87.3%+10.3pp

87.8%+9.9pp

72.3%+25.4pp

Annual return

18.58%

83.50%-64.9pp

555.36%-536.8pp

97.94%-79.4pp

Employer contribution / active EE

$3,385

$3,951-14.3%

$6,162-45.1%

$2,406+40.7%

Participant deferral / active EE

$4,620

$6,437-28.2%

$8,220-43.8%

$4,132+11.8%

Admin fee / account holder

$250

$189+32.4%

$12,049-97.9%

$170+47.3%

Provider

Service type

Compensation

NEWPORT GROUP, INC.5+ years

Service code 15 · EIN 27-2037969

Recordkeeping

$86,095

HAGAN NEWKIRK FINANCIAL SERVICES5+ years

Service code 26

6325 RANCH DRIVE · LITTLE ROCK, AR 72223

Advisory (Participants)

$43,262

NEWPORT GROUP, INC.5+ years

Filed as: NEWPORT TRUST COMPANY

Service code 18 · EIN 27-4411131

Custodial (other than securities); Tr...

$9,026

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