Retirement plan

FIRST NATIONAL BANK 401(K) PROFIT SHARING PLAN

Name: FIRST NATIONAL BANK OF WICHITA FALLS - FIRST NATIONAL BANK 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: FIRST NATIONAL BANK OF WICHITA FALLS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL BANK 401(K) PROFIT SHARING PLAN, FIRST NATIONAL BANK OF WICHITA FALLS

FIRST NATIONAL BANK OF WICHITA FALLSEIN 75-2044948Plan #001PY 2024

P.O. BOX 94905 - WICHITA FALLS, TX 783080905940-696-3000

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed April 22, 2008

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

How to read this page

Total assets (EOY)

$14.4M

+10.3% from 2023

Total participants

167

-7.7% from 2023

Average account balance

$94,766

+21.9% from 2023

Annual return

12.82%

-3.32 pp from 2023

Benchmarks

See 277 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort277 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$13.28M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

137

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.

89.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.03M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$333

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 7 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: VOYA RETIREMENT ADVISORS LLC Service code 26 · EIN 02-0488491	Advisory (Participants)	$17,866
VOYA RETIREMENT INSURANCE & ANNUITY9+ years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 27 · EIN 71-0294708	Advisory (Plan)	$13,812
MWH GROUP6 years Service code 99 · EIN 33-0905143	Other Fees	$10,500
MORNINGSTAR8 years Service code 27	Advisory (Plan)	$6,906
DEFINITI LLC4 years Service code 49	Other Services	$6,638
DEFINITI LLC4 years Filed as: DEFINITI, LLC Service code 49 · EIN 85-0833363	Other Services	$0
MORNINGSTAR6 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-3297908	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2S

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$48K

$379 / participant

Contract admin$48K100.0%

% of EOY assets

0.332%

all-in expense ratio

Categories reported

1 / 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: MWH GROUP PC
Auditor EIN: 752205423
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,766

$89,248+6.2%

$136,007-30.3%

$74,495+27.2%

Participation rate

88.1%

69.4%+18.7pp

76.5%+11.6pp

67.2%+20.9pp

Annual return

12.82%

22.76%-9.9pp

579.32%-566.5pp

1364.94%-1352.1pp

Employer contribution / active EE

$3,466

$2,838+22.2%

$4,217-17.8%

$2,623+32.2%

Participant deferral / active EE

$5,004

$4,598+8.8%

$7,025-28.8%

$4,346+15.1%

Admin fee / account holder

$314

$1,545-79.7%

$6,858-95.4%

$1,942-83.8%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: VOYA RETIREMENT ADVISORS LLC

Service code 26 · EIN 02-0488491

Advisory (Participants)

$17,866

VOYA RETIREMENT INSURANCE & ANNUITY9+ years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 27 · EIN 71-0294708

Advisory (Plan)

$13,812

MWH GROUP6 years

Service code 99 · EIN 33-0905143

Other Fees

$10,500

MORNINGSTAR8 years

Service code 27

Advisory (Plan)

$6,906

DEFINITI LLC4 years

Service code 49

Other Services

$6,638

DEFINITI LLC4 years

Filed as: DEFINITI, LLC

Service code 49 · EIN 85-0833363

Other Services

MORNINGSTAR6 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-3297908

Advisory (Participants)

FIRST NATIONAL BANK 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST NATIONAL BANK 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

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