Retirement plan

FIRST NATIONAL BANK OF ELK CITY EMPLOYEES PROFIT SHARING PLAN

Name: FIRST NATIONAL BANK OF ELK CITY - FIRST NATIONAL BANK OF ELK CITY EMPLOYEES PROFIT SHARING PLAN (2021) Form 5500
Creator: FIRST NATIONAL BANK OF ELK CITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL BANK OF ELK CITY EMPLOYEES PROFIT SHARING PLAN, FIRST NATIONAL BANK OF ELK CITY

FIRST NATIONAL BANK OF ELK CITYEIN 73-0227845Plan #002PY 2021

PO BOX 669 - ELK CITY, OK 736480669580-225-2580fnbec.comLinkedIn11-50 employeesbanking

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$12.9M

+8.0% from 2020

Total participants

+2.4% from 2020

Average account balance

$313,878

+10.7% from 2020

Annual return

11.49%

+0.85 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.65M

Not enough data

1 years with asset history on file

Average account balance

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

$273K

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.

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.

118.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$337K

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

+13.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$65528

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$776K

$20431 / participant

Other / not subdivided$776K100.0%

% of EOY assets

6.033%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$313,878

$137,414+128.4%

$189,545+65.6%

$85,851+265.6%

Participation rate

94.7%

84.6%+10.1pp

87.8%+6.9pp

69.3%+25.4pp

Annual return

11.49%

38.14%-26.7pp

555.36%-543.9pp

318.63%-307.1pp

Employer contribution / active EE

$9,597

$4,344+120.9%

$6,162+55.7%

$2,565+274.1%

Participant deferral / active EE

$6,260-100.0%

$8,220-100.0%

$3,952-100.0%

Admin fee / account holder

$18,936

$8,630+119.4%

$12,049+57.2%

$6,261+202.5%

FIRST NATIONAL BANK OF ELK CITY EMPLOYEES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST NATIONAL BANK OF ELK CITY 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