Retirement plan

SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST

Name: SPIRIT BANKCORP, INC. - SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST (2017) Form 5500
Creator: SPIRIT BANKCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST, SPIRIT BANKCORP, INC.

SPIRIT BANKCORP, INC.EIN 73-1131847Plan #002PY 2017

1800 SOUTH BALTIMORE - TULSA, OK 74119918-295-7260LinkedIn501-1000 employeesbanking

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.1M

+2.1% from 2016

Total participants

432

-16.6% from 2016

Average account balance

$31,589

+12.8% from 2016

Annual return

13.89%

+8.96 pp from 2016

Benchmarks

See 246 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort246 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.69M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

226

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.

71.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

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

+13.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$64

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 8 by compensation

Provider	Service type	Compensation
KESTRA INVESTMENT SERVICES LLC1 year Service code 53 · EIN 74-2794194	Insurance Commissions	$15,728
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$13,015
AMERICAN FUNDS1 year Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
FRANKLIN TEMPLETON1 year Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-3151768	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT1 year Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
NATIXIS FUNDS1 year Service code 52 · EIN 04-3113285	Indirect Investment Fees	$0
OPPENHEIMER1 year Service code 52 · EIN 93-1036175	Indirect Investment Fees	$0
RIDGEWORTH1 year Service code 52 · EIN 23-2678674	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2T

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.
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.
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

2 tripped

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

$13K

$60 / participant

Contract admin$13K99.2%
Other / not subdivided$1000.8%

% of EOY assets

0.108%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: FINLEY AND COOK
Auditor EIN: 730604334
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,589

$64,954-51.4%

$115,752-72.7%

$62,293-49.3%

Participation rate

77.0%

73.0%+4.0pp

77.8%-0.8pp

69.5%+7.4pp

Annual return

13.89%

24.87%-11.0pp

19.41%-5.5pp

28.90%-15.0pp

Employer contribution / active EE

$1,632

$2,344-30.3%

$3,492-53.3%

$2,042-20.1%

Participant deferral / active EE

$3,013

$3,665-17.8%

$5,204-42.1%

$3,169-4.9%

Admin fee / account holder

$34

$414-91.8%

$6,278-99.5%

$479-92.9%

Provider

Service type

Compensation

KESTRA INVESTMENT SERVICES LLC1 year

Service code 53 · EIN 74-2794194

Insurance Commissions

$15,728

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$13,015

AMERICAN FUNDS1 year

Service code 52 · EIN 95-1411037

Indirect Investment Fees

FRANKLIN TEMPLETON1 year

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-3151768

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT1 year

Service code 52 · EIN 04-3158862

Indirect Investment Fees

NATIXIS FUNDS1 year

Service code 52 · EIN 04-3113285

Indirect Investment Fees

OPPENHEIMER1 year

Service code 52 · EIN 93-1036175

Indirect Investment Fees

RIDGEWORTH1 year

Service code 52 · EIN 23-2678674

Indirect Investment Fees

SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST

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