401k Plan data: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK plan

SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 401k Plan overview

Plan Name	SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK
Plan identification number	002

SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Profit-sharing
ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
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 contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

DANVERSBANK has sponsored the creation of one or more 401k plans.

Company Name: DANVERSBANK

Employer identification number (EIN): 043458120

NAIC Classification: 522110
NAIC Description: Commercial Banking

Additional information about DANVERSBANK

Jurisdiction of Incorporation: Commonwealth of Massachusetts Corporations Division

Incorporation Date:

Company Identification Number: 000636588

More information about DANVERSBANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2011-01-01 THOMAS FORESE JR.
002 2009-01-01 THOMAS FORESE JR.

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2011-01-01	THOMAS FORESE JR.
002	2009-01-01	THOMAS FORESE JR.

Plan Statistics for SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK

401k plan membership statisitcs for SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK

Measure Date Value
2011: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2011 401k membership
Total participants, beginning-of-year 2011-01-01 654
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 244
Number of retired or separated participants receiving benefits 2011-01-01 0
Number of other retired or separated participants entitled to future benefits 2011-01-01 316
Total of all active and inactive participants 2011-01-01 560
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 0
Total participants 2011-01-01 560
Number of participants with account balances 2011-01-01 512
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 19
2009: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2009 401k membership
Total participants, beginning-of-year 2009-01-01 409
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 337
Number of retired or separated participants receiving benefits 2009-01-01 0
Number of other retired or separated participants entitled to future benefits 2009-01-01 99
Total of all active and inactive participants 2009-01-01 436
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 0
Total participants 2009-01-01 436
Number of participants with account balances 2009-01-01 389
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 0

Measure	Date	Value
2011: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2011 401k membership
Total participants, beginning-of-year	2011-01-01	654
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	244
Number of retired or separated participants receiving benefits	2011-01-01	0
Number of other retired or separated participants entitled to future benefits	2011-01-01	316
Total of all active and inactive participants	2011-01-01	560
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	0
Total participants	2011-01-01	560
Number of participants with account balances	2011-01-01	512
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	19
2009: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2009 401k membership
Total participants, beginning-of-year	2009-01-01	409
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	337
Number of retired or separated participants receiving benefits	2009-01-01	0
Number of other retired or separated participants entitled to future benefits	2009-01-01	99
Total of all active and inactive participants	2009-01-01	436
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	0
Total participants	2009-01-01	436
Number of participants with account balances	2009-01-01	389
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	0

Financial Data on SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK

Measure	Date	Value
2011 : SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2011 401k financial data
Total unrealized appreciation/depreciation of assets	2011-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$350,332
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$0
Total income from all sources (including contributions)	2011-12-31	$4,062,258
Total loss/gain on sale of assets	2011-12-31	$0
Total of all expenses incurred	2011-12-31	$9,858,319
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2011-12-31	$9,661,776
Expenses. Certain deemed distributions of participant loans	2011-12-31	$196,543
Value of total corrective distributions	2011-12-31	$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2011-12-31	$1,524,979
Value of total assets at end of year	2011-12-31	$28,564,701
Value of total assets at beginning of year	2011-12-31	$34,010,430
Total of administrative expenses incurred including professional, contract, advisory and management fees	2011-12-31	$0
Total interest from all sources	2011-12-31	$40,822
Total dividends received (eg from common stock, registered investment company shares)	2011-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2011-12-31	No
Was this plan covered by a fidelity bond	2011-12-31	Yes
Value of fidelity bond cover	2011-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2011-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2011-12-31	No
Contributions received from participants	2011-12-31	$1,121,937
Participant contributions at end of year	2011-12-31	$553,610
Participant contributions at beginning of year	2011-12-31	$1,055,922
Income. Received or receivable in cash from other sources (including rollovers)	2011-12-31	$16,561
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2011-12-31	No
Value of net income/loss	2011-12-31	$-5,796,061
Value of net assets at end of year (total assets less liabilities)	2011-12-31	$28,214,369
Value of net assets at beginning of year (total assets less liabilities)	2011-12-31	$34,010,430
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2011-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2011-12-31	No
Were any leases to which the plan was party in default or uncollectible	2011-12-31	No
Interest on participant loans	2011-12-31	$40,822
Value of interest in common/collective trusts at end of year	2011-12-31	$28,011,091
Value of interest in common/collective trusts at beginning of year	2011-12-31	$32,954,508
Net investment gain or loss from common/collective trusts	2011-12-31	$2,496,457
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2011-12-31	No
Was there a failure to transmit to the plan any participant contributions	2011-12-31	No
Has the plan failed to provide any benefit when due under the plan	2011-12-31	No
Contributions received in cash from employer	2011-12-31	$386,481
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2011-12-31	$9,661,776
Liabilities. Value of benefit claims payable at end of year	2011-12-31	$350,332
Did the plan have assets held for investment	2011-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2011-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2011-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2011-12-31	No
Opinion of an independent qualified public accountant for this plan	2011-12-31	Unqualified
Accountancy firm name	2011-12-31	PARENT, MCLAUGHLIN, & NANGLE, INC,
Accountancy firm EIN	2011-12-31	042603383
2010 : SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2010 401k financial data
Total unrealized appreciation/depreciation of assets	2010-12-31	$0
Total transfer of assets to this plan	2010-12-31	$6,192,238
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$0
Total income from all sources (including contributions)	2010-12-31	$8,250,180
Total loss/gain on sale of assets	2010-12-31	$0
Total of all expenses incurred	2010-12-31	$1,314,527
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2010-12-31	$1,227,518
Expenses. Certain deemed distributions of participant loans	2010-12-31	$87,009
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2010-12-31	$3,382,581
Value of total assets at end of year	2010-12-31	$34,010,430
Value of total assets at beginning of year	2010-12-31	$20,882,539
Total of administrative expenses incurred including professional, contract, advisory and management fees	2010-12-31	$0
Total interest from all sources	2010-12-31	$53,168
Total dividends received (eg from common stock, registered investment company shares)	2010-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2010-12-31	No
Was this plan covered by a fidelity bond	2010-12-31	Yes
Value of fidelity bond cover	2010-12-31	$1,000,000
If this is an individual account plan, was there a blackout period	2010-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2010-12-31	No
Contributions received from participants	2010-12-31	$1,754,524
Participant contributions at end of year	2010-12-31	$1,055,922
Participant contributions at beginning of year	2010-12-31	$772,993
Income. Received or receivable in cash from other sources (including rollovers)	2010-12-31	$861,809
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2010-12-31	No
Value of net income/loss	2010-12-31	$6,935,653
Value of net assets at end of year (total assets less liabilities)	2010-12-31	$34,010,430
Value of net assets at beginning of year (total assets less liabilities)	2010-12-31	$20,882,539
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2010-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2010-12-31	No
Were any leases to which the plan was party in default or uncollectible	2010-12-31	No
Income. Interest from loans (other than to participants)	2010-12-31	$53,168
Value of interest in common/collective trusts at end of year	2010-12-31	$32,954,508
Value of interest in common/collective trusts at beginning of year	2010-12-31	$20,109,546
Net investment gain or loss from common/collective trusts	2010-12-31	$4,814,431
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2010-12-31	No
Was there a failure to transmit to the plan any participant contributions	2010-12-31	No
Has the plan failed to provide any benefit when due under the plan	2010-12-31	No
Contributions received in cash from employer	2010-12-31	$766,248
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2010-12-31	$1,227,518
Did the plan have assets held for investment	2010-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2010-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2010-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2010-12-31	No
Opinion of an independent qualified public accountant for this plan	2010-12-31	Unqualified
Accountancy firm name	2010-12-31	PARENT, MCLAUGHLIN & NANGLE, INC.
Accountancy firm EIN	2010-12-31	042603383

Form 5500 Responses for SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK

2011: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2011 form 5500 responses
2011-01-01	Type of plan entity	Single employer plan
2011-01-01	Submission has been amended	No
2011-01-01	This submission is the final filing	No
2011-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2011-01-01	Plan is a collectively bargained plan	No
2011-01-01	Plan funding arrangement – Trust	Yes
2011-01-01	Plan benefit arrangement - Trust	Yes
2009: SBERA 401(K) PLAN AS ADOPTED BY DANVERSBANK 2009 form 5500 responses
2009-01-01	Type of plan entity	Single employer plan
2009-01-01	Submission has been amended	No
2009-01-01	This submission is the final filing	No
2009-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2009-01-01	Plan is a collectively bargained plan	No
2009-01-01	Plan funding arrangement – Trust	Yes
2009-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	DANVERSBANK
Employer identification number (EIN):	043458120
NAIC Classification:	522110
NAIC Description:	Commercial Banking

Jurisdiction of Incorporation:	Commonwealth of Massachusetts Corporations Division
Incorporation Date:
Company Identification Number:	000636588