Retirement plan

FIRST NORTHERN BANK PROFIT SHARING 401(K) PLAN

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

FIRST NORTHERN BANK OF DIXONEIN 94-0475380Plan #001PY 2024

195 N FIRST STREET - DIXON, CA 95620916-570-1249thatsmybank.comLinkedIn201-500 employeesbanking

Prospect flagsLow returnsHigh fees

Top hat statement on fileNQDC

Filed January 15, 2007 (most recent of 2 filings on file)

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.

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Total assets (EOY)

$37.4M

-3.1% from 2023

Total participants

309

+0.7% from 2023

Average account balance

$125,848

-4.1% from 2023

Annual return

10.64%

-6.03 pp from 2023

Benchmarks

See 2,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,180 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$37.38M

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

297

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+10.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$322

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 4 by compensation

Provider	Service type	Compensation
WORLD INVESTMENT ADVISORS LLC1 year Service code 27 24 E COTA ST STE 200 · SANTA BARBARA, CA 93101	Advisory (Plan)	$59,006
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$25,017
JP MORGAN INVESTMENT MANAGEMENT INC4 years Filed as: COTA STREET INVESTMENT MANAGEMENT Service code 28 24 E. COTA STREET · SANTA BARBARA, CA 93101	Investment Management	$7,401
NORTHWESTERN MUTUAL INVESTMENT SERV1 year Filed as: NORTHWESTERN MUTUAL FINANCIAL NETWO Service code 99 · EIN 39-0509570	Other Fees	$4,157

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$96K

$511 / participant

Recordkeeping$25K26.2%
Investment mgmt$66K69.5%
Other / not subdivided$4K4.3%

% of EOY assets

0.256%

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: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$125,848

$122,239+3.0%

$184,200-31.7%

$74,546+68.8%

Participation rate

93.6%

85.5%+8.1pp

86.8%+6.8pp

67.2%+26.4pp

Annual return

10.64%

19.95%-9.3pp

28.80%-18.2pp

1366.03%-1355.4pp

Employer contribution / active EE

$9,986

$4,537+120.1%

$6,424+55.4%

$2,624+280.5%

Participant deferral / active EE

$6,141

$7,139-14.0%

$9,132-32.8%

$4,347+41.2%

Admin fee / account holder

$322

$1,260-74.5%

$13,907-97.7%

$1,944-83.4%

Provider

Service type

Compensation

WORLD INVESTMENT ADVISORS LLC1 year

Service code 27

24 E COTA ST STE 200 · SANTA BARBARA, CA 93101

Advisory (Plan)

$59,006

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$25,017

JP MORGAN INVESTMENT MANAGEMENT INC4 years

Filed as: COTA STREET INVESTMENT MANAGEMENT

Service code 28

24 E. COTA STREET · SANTA BARBARA, CA 93101

Investment Management

$7,401

NORTHWESTERN MUTUAL INVESTMENT SERV1 year

Filed as: NORTHWESTERN MUTUAL FINANCIAL NETWO

Service code 99 · EIN 39-0509570

Other Fees

$4,157

FIRST NORTHERN BANK PROFIT SHARING 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST NORTHERN BANK PROFIT SHARING 401(K) 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