Retirement plan

VERITEX COMMUNITY BANK EMPLOYEE STOCK OWNERSHIP PLAN

Name: VERITEX COMMUNITY BANK - VERITEX COMMUNITY BANK EMPLOYEE STOCK OWNERSHIP PLAN (2016) Form 5500
Creator: VERITEX COMMUNITY BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERITEX COMMUNITY BANK EMPLOYEE STOCK OWNERSHIP PLAN, VERITEX COMMUNITY BANK

VERITEX COMMUNITY BANKEIN 76-0752296Plan #002PY 2016

8214 WESTCHESTER DRIVE, SUITE 400 - DALLAS, TX 75225972-349-6135veritexbank.comLinkedIn501-1000 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$3.3M assets

Prospect flagsLow participationLow assets / participant

How to read this page

Total assets (EOY)

$1.8M

+68.1% from 2015

Total participants

180

+14.6% from 2015

Average account balance

$14,176

+31.6% from 2015

Annual return

50.24%

+58.91 pp from 2015

Benchmarks

See 2,214 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,214 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2K2P

Plan features

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

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: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,176

$74,089-80.9%

$133,975-89.4%

$55,167-74.3%

Participation rate

69.6%

84.3%-14.6pp

87.1%-17.4pp

69.0%+0.7pp

Annual return

50.24%

12.11%+38.1pp

29.29%+20.9pp

169.23%-119.0pp

Employer contribution / active EE

$1,263

$3,064-58.8%

$5,211-75.8%

$1,963-35.6%

Participant deferral / active EE

$4,678-100.0%

$6,282-100.0%

$3,054-100.0%

Admin fee / account holder

$458-100.0%

$9,324-100.0%

$504-100.0%

VERITEX COMMUNITY BANK EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

VERITEX COMMUNITY BANK EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion