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 (2022) 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 2022

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

Prospect flagsLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$126M

-10.6% from 2021

Total participants

1,036

+7.1% from 2021

Average account balance

$140,952

-12.9% from 2021

Annual return

-14.53%

-27.75 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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 INC8+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$93,178
BENEFIT FINACIAL SERVICES GROUP4 years Service code 16 2040 MAIN STREET · IRVINE, CA 92614	Consulting	$40,000
WINDES, INC.6 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$153K

$178 / participant

Other / not subdivided$153K100.0%

% of EOY assets

0.122%

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

$140,952

$86,897+62.2%

$151,645-7.1%

$64,824+117.4%

Participation rate

83.5%

87.3%-3.7pp

87.5%-4.0pp

71.5%+12.0pp

Annual return

-14.53%

-3.57%-11.0pp

3.34%-17.9pp

32.84%-47.4pp

Employer contribution / active EE

$11,221

$4,010+179.8%

$6,165+82.0%

$2,507+347.6%

Participant deferral / active EE

$2,929

$6,690-56.2%

$8,363-65.0%

$4,311-32.1%

Admin fee / account holder

$171

$153+12.0%

$11,614-98.5%

$188-8.8%

Provider

Service type

Compensation

T ROWE PRICE RPS INC8+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$93,178

BENEFIT FINACIAL SERVICES GROUP4 years

Service code 16

2040 MAIN STREET · IRVINE, CA 92614

Consulting

$40,000

WINDES, INC.6 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