Retirement plan

THE FIRST FINANCIAL BANKSHARES INC 401K PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN & TRUST

Name: FIRST FINANCIAL BANKSHARES, INC. - THE FIRST FINANCIAL BANKSHARES INC 401K PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN & TRUST (2017) Form 5500
Creator: FIRST FINANCIAL BANKSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FIRST FINANCIAL BANKSHARES INC 401K PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN & TRUST, FIRST FINANCIAL BANKSHARES, INC.

FIRST FINANCIAL BANKSHARES, INC.EIN 75-0944023Plan #002PY 2017

PO BOX 701 - ABILENE, TX 79604325-627-7219

Other plans on this EIN

1 filing

#001Retirement-$17.0M assets

Prospect flagsHigh retiree %Low returns

Top hat statement on fileNQDC

Filed January 23, 2019 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

400 Pine Street, Suite 300

Abilene State: TX Zip Code: 79601

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (1)

First Financial Bankshares, Inc. Supplemental Executive Retirement Plan30 emp

Open the filing PDF

How to read this page

Total assets (EOY)

$204.7M

+9.0% from 2016

Total participants

1,643

-5.5% from 2016

Average account balance

$128,197

+13.6% from 2016

Annual return

10.26%

-10.91 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2017

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

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$360.47M

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

2,387

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.

86.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20.22M

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

+14.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$143

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 1 by compensation

Provider	Service type	Compensation
SCHNITMAN & ASSOCIATES INC3+ years Service code 64 · EIN 75-1983809 P O BOX 889 · ALLEN, TX 750130014	Recordkeeping Fees	$185,371

Plan features & details

Pension benefit codes2A2E2G2J2K2O3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$227K

$191 / participant

Investment mgmt$15K6.7%
Contract admin$185K81.7%
Other / not subdivided$26K11.6%

% of EOY assets

0.111%

all-in expense ratio

Categories reported

2 / 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: CONDLEY & COMPANY
Auditor EIN: 751056027
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$128,197

$89,274+43.6%

$149,718-14.4%

$77,958+64.4%

Participation rate

96.1%

87.6%+8.5pp

87.1%+9.1pp

71.6%+24.5pp

Annual return

10.26%

20.36%-10.1pp

1501.63%-1491.4pp

20.87%-10.6pp

Employer contribution / active EE

$5,991

$3,727+60.8%

$5,445+10.0%

$2,310+159.3%

Participant deferral / active EE

$3,572

$5,382-33.6%

$6,569-45.6%

$3,537+1.0%

Admin fee / account holder

$142

$240-40.8%

$11,283-98.7%

$97+45.9%

Provider

Service type

Compensation

SCHNITMAN & ASSOCIATES INC3+ years

Service code 64 · EIN 75-1983809

P O BOX 889 · ALLEN, TX 750130014

Recordkeeping Fees

$185,371

THE FIRST FINANCIAL BANKSHARES INC 401K PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN & TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FIRST FINANCIAL BANKSHARES INC 401K PROFIT SHARING AND EMPLOYEE STOCK OWNERSHIP PLAN & TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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