Retirement plan

GUARANTY BANCSHARES, INC. ESOP W/401(K) PROVISIONS

Name: GUARANTY BANCSHARES, INC. - GUARANTY BANCSHARES, INC. ESOP W/401(K) PROVISIONS (2024) Form 5500
Creator: GUARANTY BANCSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GUARANTY BANCSHARES, INC. ESOP W/401(K) PROVISIONS, GUARANTY BANCSHARES, INC.

GUARANTY BANCSHARES, INC.EIN 75-1656431Plan #001PY 2024

16475 DALLAS PARKWAY, SUITE 600 - DALLAS, TX 75001903-434-4353

Prospect flagsLow returnsFailed to transmit contributions

Top hat statement on fileNQDC

Filed April 7, 2022

Plan administrator

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16475 Dallas Parkway, Suite 100

Addison, TX 75001

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Plans declared (1)

Plan name not on file4 emp

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Total assets (EOY)

$60.9M

+2.8% from 2023

Total participants

699

-1.5% from 2023

Average account balance

$91,224

+1.1% from 2023

Annual return

9.26%

+2.92 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$60.94M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

668

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.

93.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.14M

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

+9.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$273

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
NEWPORT GROUP, INC.7 years Service code 13 · EIN 27-2037969	Contract Administrator	$52,585
FCG INVESTMENT COMPANY5 years Service code 27 · EIN 84-5006323	Advisory (Plan)	$47,950
WHITLEY PENN LLP10+ years Service code 10 · EIN 75-2393478	Accounting	$36,565
FINANCIAL CONSULTING GROUP10+ years Service code 50 · EIN 62-1657685	Direct Payment	$17,124
NEWPORT GROUP, INC.3 years Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131	Bank Trustee	$17,102
GENEOS WEALTH MANAGEMENT INC1 year Filed as: GENEOS WEALTH MANAGEMENT Service code 27 16775 ADDISON RD. · ADDISON, TX 75001	Advisory (Plan)	$10,906

Plan features & details

Pension benefit codes2E2G2J2K2S3D3H

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$182K

$370 / participant

Recordkeeping$14K7.4%
Trustee / custodial$17K9.4%
Investment mgmt$76K41.7%
Contract admin$39K21.4%
Other / not subdivided$37K20.1%

% of EOY assets

0.299%

all-in expense ratio

Categories reported

4 / 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: $36,565
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,224

$129,227-29.4%

$184,260-50.5%

$77,736+17.4%

Participation rate

93.7%

87.4%+6.3pp

86.8%+6.9pp

70.6%+23.1pp

Annual return

9.26%

33.24%-24.0pp

28.84%-19.6pp

31.26%-22.0pp

Employer contribution / active EE

$3,253

$4,412-26.3%

$6,427-49.4%

$2,728+19.3%

Participant deferral / active EE

$5,165

$7,307-29.3%

$9,133-43.4%

$4,651+11.1%

Admin fee / account holder

$273

$256+6.7%

$13,898-98.0%

$433-37.0%

Provider

Service type

Compensation

NEWPORT GROUP, INC.7 years

Service code 13 · EIN 27-2037969

Contract Administrator

$52,585

FCG INVESTMENT COMPANY5 years

Service code 27 · EIN 84-5006323

Advisory (Plan)

$47,950

WHITLEY PENN LLP10+ years

Service code 10 · EIN 75-2393478

Accounting

$36,565

FINANCIAL CONSULTING GROUP10+ years

Service code 50 · EIN 62-1657685

Direct Payment

$17,124

NEWPORT GROUP, INC.3 years

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 27-4411131

Bank Trustee

$17,102

GENEOS WEALTH MANAGEMENT INC1 year

Filed as: GENEOS WEALTH MANAGEMENT

Service code 27

16775 ADDISON RD. · ADDISON, TX 75001

Advisory (Plan)

$10,906

GUARANTY BANCSHARES, INC. ESOP W/401(K) PROVISIONS

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

GUARANTY BANCSHARES, INC. ESOP W/401(K) PROVISIONS

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