Retirement plan

FARMERS & MERCHANTS BANK OF LONG BEACH PROFIT SHARING AND 401(K) PLAN

Name: FARMERS & MERCHANTS BANK OF LONG BEACH - FARMERS & MERCHANTS BANK OF LONG BEACH PROFIT SHARING AND 401(K) PLAN (2024) Form 5500
Creator: FARMERS & MERCHANTS BANK OF LONG BEACH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FARMERS & MERCHANTS BANK OF LONG BEACH PROFIT SHARING AND 401(K) PLAN, FARMERS & MERCHANTS BANK OF LONG BEACH

FARMERS & MERCHANTS BANK OF LONG BEACHEIN 95-0726412Plan #001PY 2024

302 PINE AVE - LONG BEACH, CA 90802562-499-4829fmb.comLinkedIn501-1000 employeesbanking

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$174.5M

+14.0% from 2023

Total participants

1,098

+5.2% from 2023

Average account balance

$176,768

+7.5% from 2023

Annual return

13.42%

-2.69 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

$174.47M

Not enough data

1 years with asset history on file

Average account balance

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

$177K

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.

987

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.

87.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11.50M

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

+13.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$178

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 3 by compensation

Provider	Service type	Compensation
T ROWE PRICE RPS INC10+ years Service code 15 1307 POINT STREET · BALTIMORE, MD 21231	Recordkeeping	$113,742
BENEFIT FINACIAL SERVICES GROUP6 years Service code 16 2040 MAIN STREET · IRVINE, CA 92614	Consulting	$40,000
WINDES, INC.8 years Filed as: WINDES INC. Service code 10 PO BOX 87 · LONG BEACH, CA 90801	Accounting	$21,500

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$176K

$197 / participant

Recordkeeping$114K64.6%
Other / not subdivided$62K35.4%

% of EOY assets

0.101%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WINDES, INC.
Auditor EIN: 953001179
Audit fees: $21,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$176,768

$129,227+36.8%

$184,256-4.1%

$77,762+127.3%

Participation rate

87.6%

87.4%+0.2pp

86.8%+0.8pp

70.6%+17.0pp

Annual return

13.42%

33.24%-19.8pp

28.85%-15.4pp

31.27%-17.8pp

Employer contribution / active EE

$8,665

$4,412+96.4%

$6,427+34.8%

$2,728+217.6%

Participant deferral / active EE

$4,189

$7,307-42.7%

$9,133-54.1%

$4,651-9.9%

Admin fee / account holder

$178

$256-30.3%

$13,899-98.7%

$433-58.8%

Provider

Service type

Compensation

T ROWE PRICE RPS INC10+ years

Service code 15

1307 POINT STREET · BALTIMORE, MD 21231

Recordkeeping

$113,742

BENEFIT FINACIAL SERVICES GROUP6 years

Service code 16

2040 MAIN STREET · IRVINE, CA 92614

Consulting

$40,000

WINDES, INC.8 years

Filed as: WINDES INC.

Service code 10

PO BOX 87 · LONG BEACH, CA 90801

Accounting

$21,500

FARMERS & MERCHANTS BANK OF LONG BEACH PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARMERS & MERCHANTS BANK OF LONG BEACH PROFIT SHARING AND 401(K) 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