Retirement plan

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

Name: SPIRIT BANKCORP, INC. - SPIRIT BANKCORP, INC. 401(K) PLAN AND TRUST (2024) 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 2024

1800 SOUTH BALTIMORE - TULSA, OK 74119918-295-7262LinkedIn501-1000 employeesbanking

Prospect flagsHigh retiree %Recently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$13.7M

+6.8% from 2023

Total participants

261

+94.8% from 2023

Average account balance

$60,574

-53.7% from 2023

Annual return

13.24%

-1.78 pp from 2023

Benchmarks

See 2,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,180 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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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 6 by compensation

Provider	Service type	Compensation
CETERA ADVISOR NETWORKS LLC4 years Service code 28 2301 ROSECRANS AVE STE 5100 · EL SEGUNDO, CA 90245	Investment Management	$19,222
NATIONWIDE4 years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$17,935
IRON-CO-FID-COMPREHENSIVE1 year Filed as: IRON FIDUCIARY Service code 28 · EIN 99-9552241	Investment Management	$6,498
PROACCOUNT1 year Service code 28 · EIN 73-0988442 10 W NATIONWIDE BLVD · COLUMBUS, OH 43215	Investment Management	$1,367
NATIONWIDE1 year Filed as: NATIONWIDE LIFE INSURANCE COMPANY Service code 28 · EIN 31-4156830 10 W NATIONWIDE BLVD 5-05-111V · COLUMBUS, OH 43215	Investment Management	$1,300
NATIONWIDE1 year Filed as: NATIONWIDE RETIREMENT PLANS Service code 28 10 W NATIONWIDE BLVD · COLUMBUS, OH 43215	Investment Management	$411

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.

Opportunity flags

3 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$15K

$117 / participant

Other / not subdivided$15K100.0%

% of EOY assets

0.106%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: EIDE BAILLY
Auditor EIN: 450250958
Audit fees: $14,517
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,574

$122,239-50.4%

$184,203-67.1%

$74,495-18.7%

Participation rate

71.8%

85.5%-13.7pp

86.8%-15.0pp

67.2%+4.6pp

Annual return

13.24%

19.95%-6.7pp

28.81%-15.6pp

1364.94%-1351.7pp

Employer contribution / active EE

$2,701

$4,537-40.5%

$6,427-58.0%

$2,623+3.0%

Participant deferral / active EE

$5,436

$7,139-23.9%

$9,131-40.5%

$4,346+25.1%

Admin fee / account holder

$64

$1,260-94.9%

$13,901-99.5%

$1,942-96.7%

Provider

Service type

Compensation

CETERA ADVISOR NETWORKS LLC4 years

Service code 28

2301 ROSECRANS AVE STE 5100 · EL SEGUNDO, CA 90245

Investment Management

$19,222

NATIONWIDE4 years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$17,935

IRON-CO-FID-COMPREHENSIVE1 year

Filed as: IRON FIDUCIARY

Service code 28 · EIN 99-9552241

Investment Management

$6,498

PROACCOUNT1 year

Service code 28 · EIN 73-0988442

10 W NATIONWIDE BLVD · COLUMBUS, OH 43215

Investment Management

$1,367

NATIONWIDE1 year

Filed as: NATIONWIDE LIFE INSURANCE COMPANY

Service code 28 · EIN 31-4156830

10 W NATIONWIDE BLVD 5-05-111V · COLUMBUS, OH 43215

Investment Management

$1,300

NATIONWIDE1 year

Filed as: NATIONWIDE RETIREMENT PLANS

Service code 28

10 W NATIONWIDE BLVD · COLUMBUS, OH 43215

Investment Management

$411

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