Retirement plan

FIRST BANK CORP EMPLOYEES PROFIT SHARING PLAN

Name: FIRST BANK CORP - FIRST BANK CORP EMPLOYEES PROFIT SHARING PLAN (2024) Form 5500
Creator: FIRST BANK CORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST BANK CORP EMPLOYEES PROFIT SHARING PLAN, FIRST BANK CORP

FIRST BANK CORPEIN 71-0682703Plan #001PY 2024

602 GARRISON AVENUE - FORT SMITH, AR 729012542479-782-2041

Other plans on this EIN

1 filing

#003Retirement-$29.8M assets

Prospect flagsLow returnsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$74.8M

+9.6% from 2023

Total participants

591

+6.7% from 2023

Average account balance

$126,499

-5.9% from 2023

Annual return

11.62%

+0.48 pp from 2023

Benchmarks

See 1,550 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,550 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$74.76M

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

591

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$273

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 4 by compensation

Provider	Service type	Compensation
FUTURE PLAN CONSULTING - FORT WAYNE2 years Filed as: FUTURE CAPITAL Service code 26 · EIN 62-1823351	Advisory (Participants)	$52,680
HOGANTAYLOR LLP8 years Service code 10 · EIN 73-1413977	Accounting	$52,110
FIRST NATIONAL BANK OF OMAHA1 year Filed as: FIRST NATIONAL BANK Service code 64 · EIN 71-0058845	Recordkeeping Fees	$42,415
FRIDAY ELDREDGE & CLARK10+ years Service code 29 · EIN 71-0253637	Legal	$13,876

Plan features & details

Pension benefit codes2E2H2J3H2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$161K

$404 / participant

Recordkeeping$42K26.3%
Investment mgmt$53K32.7%
Legal$14K8.6%
Other / not subdivided$52K32.4%

% of EOY assets

0.215%

all-in expense ratio

Categories reported

3 / 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: $52,110
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$126,499

$129,095-2.0%

$184,185-31.3%

$77,692+62.8%

Participation rate

100.0%

87.3%+12.7pp

86.8%+13.2pp

70.6%+29.4pp

Annual return

11.62%

33.29%-21.7pp

28.81%-17.2pp

31.25%-19.6pp

Employer contribution / active EE

$6,299

$4,410+42.8%

$6,426-2.0%

$2,726+131.0%

Participant deferral / active EE

$1,817

$7,300-75.1%

$9,132-80.1%

$4,648-60.9%

Admin fee / account holder

$273

$256+6.6%

$13,909-98.0%

$431-36.7%

Provider

Service type

Compensation

FUTURE PLAN CONSULTING - FORT WAYNE2 years

Filed as: FUTURE CAPITAL

Service code 26 · EIN 62-1823351

Advisory (Participants)

$52,680

HOGANTAYLOR LLP8 years

Service code 10 · EIN 73-1413977

Accounting

$52,110

FIRST NATIONAL BANK OF OMAHA1 year

Filed as: FIRST NATIONAL BANK

Service code 64 · EIN 71-0058845

Recordkeeping Fees

$42,415

FRIDAY ELDREDGE & CLARK10+ years

Service code 29 · EIN 71-0253637

Legal

$13,876

FIRST BANK CORP EMPLOYEES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST BANK CORP EMPLOYEES PROFIT SHARING 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