Retirement plan

HENDERSON CITIZENS BANCSHARES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Name: HENDERSON CITIZENS BANCSHARES, INC. - HENDERSON CITIZENS BANCSHARES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN (2015) Form 5500
Creator: HENDERSON CITIZENS BANCSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HENDERSON CITIZENS BANCSHARES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN, HENDERSON CITIZENS BANCSHARES, INC.

HENDERSON CITIZENS BANCSHARES, INC.EIN 75-2371232Plan #001PY 2015

201 WEST MAIN STREET - HENDERSON, TX 756523106903-657-8521verabank.comLinkedIn501-1000 employeesfinancial services

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$31.1M

No prior year

Total participants

512

No prior year

Average account balance

$61,158

No prior year

Annual return

2.29%

No prior year

Benchmarks

See 1,335 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,335 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$88.68M

Not enough data

1 years with asset history on file

Average account balance

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

$124K

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.

713

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.83M

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

+14.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$176

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 4 by compensation

Provider	Service type	Compensation
BRACEWELL & GIULIANI LLP1+ years Service code 13 · EIN 74-1024827	Contract Administrator	$38,744
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290	Contract Administrator	$20,003
SHESHUNOFF & CO1+ years Service code 11 · EIN 75-2840581	Actuarial	$7,500
WILSHIRE ASSOCIATES INCORPORATED1+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2G2I2J2K2P2S2T3I

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.
2I
Stock bonus
Stock bonus plan.
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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$83K

$213 / participant

Investment mgmt$17K20.0%
Contract admin$42K50.8%
Other / not subdivided$24K29.1%

% of EOY assets

0.267%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BKD, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,158

$68,413-10.6%

$123,105-50.3%

$55,191+10.8%

Participation rate

99.0%

84.5%+14.4pp

86.8%+12.2pp

69.2%+29.8pp

Annual return

2.29%

6.30%-4.0pp

13.22%-10.9pp

10.78%-8.5pp

Employer contribution / active EE

$3,058

$3,050+0.2%

$5,151-40.6%

$1,899+61.0%

Participant deferral / active EE

$3,241

$4,490-27.8%

$6,229-48.0%

$3,046+6.4%

Admin fee / account holder

$163

$88+85.7%

$9,014-98.2%

$91+79.7%

Provider

Service type

Compensation

BRACEWELL & GIULIANI LLP1+ years

Service code 13 · EIN 74-1024827

Contract Administrator

$38,744

PRINCIPAL LIFE INSURANCE COMPANY1+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$20,003

SHESHUNOFF & CO1+ years

Service code 11 · EIN 75-2840581

Actuarial

$7,500

WILSHIRE ASSOCIATES INCORPORATED1+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

HENDERSON CITIZENS BANCSHARES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HENDERSON CITIZENS BANCSHARES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP 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