Retirement plan

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

Name: SPIRIT BANKCORP, INC. - SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST (2020) 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 2020

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

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$12.9M

+13.0% from 2019

Total participants

281

-6.0% from 2019

Average account balance

$54,262

+22.5% from 2019

Annual return

11.88%

-6.40 pp from 2019

Benchmarks

See 261 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort261 peers

Snapshot2020

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 10 of 11 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$49,048
VOYA RETIREMENT INSURANCE & ANNUITY2 years Filed as: VOYA FINANCIAL ADVISORS INC Service code 53 · EIN 41-0945505	Insurance Commissions	$14,438
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BAIRD FUNDS3 years Service code 52 · EIN 39-6037917	Indirect Investment Fees	$0
DIMENSIONAL FUND ADVISORS3 years Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 13-3867060	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY3 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT4 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
T ROWE PRICE RPS INC3 years Filed as: T. ROWE PRICE Service code 52 · EIN 52-1151266	Indirect Investment Fees	$0
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO Service code 52 · EIN 41-0449260	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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$49K

$366 / participant

Investment mgmt$40K81.6%
Contract admin$9K18.4%

% of EOY assets

0.380%

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: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,262

$73,823-26.5%

$379,746-85.7%

$73,497-26.2%

Participation rate

67.9%

73.1%-5.2pp

78.4%-10.5pp

70.7%-2.8pp

Annual return

11.88%

29.06%-17.2pp

34.90%-23.0pp

28.51%-16.6pp

Employer contribution / active EE

$2,073

$2,472-16.2%

$3,540-41.4%

$2,270-8.7%

Participant deferral / active EE

$4,068

$4,038+0.8%

$6,024-32.5%

$3,740+8.8%

Admin fee / account holder

$206

$607-66.1%

$7,927-97.4%

$513-59.8%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$49,048

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Filed as: VOYA FINANCIAL ADVISORS INC

Service code 53 · EIN 41-0945505

Insurance Commissions

$14,438

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BAIRD FUNDS3 years

Service code 52 · EIN 39-6037917

Indirect Investment Fees

DIMENSIONAL FUND ADVISORS3 years

Service code 52 · EIN 36-3129984

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 13-3867060

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY3 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT4 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

T ROWE PRICE RPS INC3 years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-1151266

Indirect Investment Fees

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO

Service code 52 · EIN 41-0449260

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