Retirement plan

NBM CORPORATION 401(K)/ESOP PLAN

Name: THE BANK, N.A. - NBM CORPORATION 401(K)/ESOP PLAN (2020) Form 5500
Creator: THE BANK, N.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NBM CORPORATION 401(K)/ESOP PLAN, THE BANK, N.A.

THE BANK, N.A.EIN 73-0344910Plan #002PY 2020

P.O. BOX 1067 - MCALESTER, OK 74502918-423-2265thebankna.comLinkedIn51-200 employeesbanking

Prospect flagsLow returnsHigh cashHigh assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$21.4M

+2.2% from 2019

Total participants

0.0% from 2019

Average account balance

$271,194

+2.2% from 2019

Annual return

9.97%

-3.30 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.19M

Not enough data

1 years with asset history on file

Average account balance

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

$245K

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.

84.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$831K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+16.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$336

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
EMPLOYEE BENEFITS GROUP, LLC3 years Service code 13 · EIN 73-1554797	Contract Administrator	$5,226
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO. Service code 52 · EIN 04-1590850	Indirect Investment Fees	$1,112

Plan features & details

Pension benefit codes2P2Q3H2E2F2H2J2K3I3D

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).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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)).
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

4 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.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1K

$17 / participant

Contract admin$1K100.0%

% of EOY assets

0.005%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FINLEY & COOK, PLLC
Auditor EIN: 730604334
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$271,194

$123,793+119.1%

$177,848+52.5%

$79,856+239.6%

Participation rate

100.0%

84.7%+15.3pp

87.7%+12.3pp

69.6%+30.4pp

Annual return

9.97%

22.82%-12.8pp

48.33%-38.4pp

31.71%-21.7pp

Employer contribution / active EE

$5,841

$4,095+42.6%

$5,919-1.3%

$2,471+136.4%

Participant deferral / active EE

$2,696

$5,956-54.7%

$7,714-65.1%

$3,741-27.9%

Admin fee / account holder

$14

$7,243-99.8%

$12,431-99.9%

$5,306-99.7%

Provider

Service type

Compensation

EMPLOYEE BENEFITS GROUP, LLC3 years

Service code 13 · EIN 73-1554797

Contract Administrator

$5,226

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO.

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$1,112

NBM CORPORATION 401(K)/ESOP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NBM CORPORATION 401(K)/ESOP 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