Retirement plan

THE BANK & TRUST 401K AND PROFIT SHARING PLAN

Name: WESTEX BANCORP, INC. - THE BANK & TRUST 401K AND PROFIT SHARING PLAN (2023) Form 5500
Creator: WESTEX BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BANK & TRUST 401K AND PROFIT SHARING PLAN, WESTEX BANCORP, INC.

WESTEX BANCORP, INC.EIN 74-2102966Plan #002PY 2023

PO BOX 4010 - DEL RIO, TX 78841830-774-2555

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$26.1M

+26.6% from 2022

Total participants

168

+5.7% from 2022

Average account balance

$165,082

+25.0% from 2022

Annual return

22.56%

+43.45 pp from 2022

Benchmarks

See 264 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort264 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.99M

Not enough data

1 years with asset history on file

Average account balance

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

$180K

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.

172

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.

86.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$820K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+17.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
FISHER HERBST KEMBLE9+ years Service code 10 · EIN 74-2584861	Accounting	$12,500
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$2,197

Plan features & details

Pension benefit codes2F2G2J2T2E3D

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$15K

$104 / participant

Recordkeeping$2K14.9%
Other / not subdivided$13K85.1%

% of EOY assets

0.056%

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: WHITLEY PENN LLP
Auditor EIN: 752393478
Audit fees: $12,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$165,082

$80,138+106.0%

$130,231+26.8%

$71,511+130.8%

Participation rate

93.0%

71.0%+22.0pp

76.3%+16.7pp

67.9%+25.0pp

Annual return

22.56%

16.81%+5.8pp

38.86%-16.3pp

28.86%-6.3pp

Employer contribution / active EE

$3,273

$2,834+15.5%

$4,126-20.7%

$2,589+26.4%

Participant deferral / active EE

$5,536

$4,641+19.3%

$6,799-18.6%

$4,291+29.0%

Admin fee / account holder

$93

$1,035-91.0%

$6,020-98.5%

$1,588-94.1%

Provider

Service type

Compensation

FISHER HERBST KEMBLE9+ years

Service code 10 · EIN 74-2584861

Accounting

$12,500

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$2,197

THE BANK & TRUST 401K AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BANK & TRUST 401K AND 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