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 (2021) 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 2021

302 PINE AVE - LONG BEACH, CA 90802562-437-0011fmb.comLinkedIn501-1000 employeesbanking

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$141M

+14.7% from 2020

Total participants

967

+0.9% from 2020

Average account balance

$161,913

+13.1% from 2020

Annual return

13.22%

-2.73 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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
BENEFIT FINANCIAL SERVICES GROUP4 years Service code 16 2040 MAIN STREET · IRVINE, CA 92614	Consulting	$40,000
T ROWE PRICE RPS INC7+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$21,303
WINDES, INC.5 years Filed as: WINDES INC. Service code 10 PO BOX 87 · LONG BEACH, CA 90801	Accounting	$20,000

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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$81K

$100 / participant

Other / not subdivided$81K100.0%

% of EOY assets

0.058%

all-in expense ratio

Categories reported

0 / 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: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$161,913

$111,491+45.2%

$189,545-14.6%

$86,821+86.5%

Participation rate

88.2%

87.3%+0.9pp

87.8%+0.4pp

72.3%+15.9pp

Annual return

13.22%

83.50%-70.3pp

555.36%-542.1pp

97.94%-84.7pp

Employer contribution / active EE

$10,838

$3,951+174.3%

$6,162+75.9%

$2,406+350.4%

Participant deferral / active EE

$2,387

$6,437-62.9%

$8,220-71.0%

$4,132-42.2%

Admin fee / account holder

$93

$189-50.5%

$12,049-99.2%

$170-45.0%

Provider

Service type

Compensation

BENEFIT FINANCIAL SERVICES GROUP4 years

Service code 16

2040 MAIN STREET · IRVINE, CA 92614

Consulting

$40,000

T ROWE PRICE RPS INC7+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$21,303

WINDES, INC.5 years

Filed as: WINDES INC.

Service code 10

PO BOX 87 · LONG BEACH, CA 90801

Accounting

$20,000

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