401k Plan data: HIGH POINT FINANCIAL SVCS 401K PLAN plan

HIGH POINT FINANCIAL SVCS 401K PLAN 401k Plan overview

Plan Name	HIGH POINT FINANCIAL SVCS 401K PLAN
Plan identification number	002

HIGH POINT FINANCIAL SVCS 401K PLAN 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.
Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
Plan covering Self-Employed individuals.
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

HIGH POINT FINANCIAL SERVICES, INC. has sponsored the creation of one or more 401k plans.

Company Name: HIGH POINT FINANCIAL SERVICES, INC.

Employer identification number (EIN): 363752737

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan HIGH POINT FINANCIAL SVCS 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01 PLAN SPONSOR 2024-06-26
002 2022-01-01 PLAN SPONSOR 2023-09-15
002 2021-01-01 BETSY JOHNSON 2022-07-19
002 2020-01-01 BETSY JOHNSON 2021-08-31
002 2019-01-01 BETSY JOHNSON 2020-09-13 BETSY JOHNSON 2020-09-13
002 2018-01-01 BETSY JOHNSON 2019-07-31 BETSY JOHNSON 2019-07-31
002 2017-01-01 BETSY JOHNSON 2018-07-25 BETSY JOHNSON 2018-07-25
002 2016-01-01 BETSY JOHNSON 2017-07-06
002 2015-01-01 BETSY JOHNSON 2016-06-27
002 2014-01-01 BETSY JOHNSON BETSY JOHNSON 2015-07-10
002 2013-01-01 BETSY JOHNSON BETSY JOHNSON 2014-06-25
002 2012-01-01 BETSY JOHNSON 2013-06-21
002 2011-01-01 BETSY JOHNSON 2012-07-09
002 2010-01-01 BETSY JOHNSON 2011-06-29

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01	PLAN SPONSOR	2024-06-26
002	2022-01-01	PLAN SPONSOR	2023-09-15
002	2021-01-01	BETSY JOHNSON	2022-07-19
002	2020-01-01	BETSY JOHNSON	2021-08-31
002	2019-01-01	BETSY JOHNSON	2020-09-13	BETSY JOHNSON	2020-09-13
002	2018-01-01	BETSY JOHNSON	2019-07-31	BETSY JOHNSON	2019-07-31
002	2017-01-01	BETSY JOHNSON	2018-07-25	BETSY JOHNSON	2018-07-25
002	2016-01-01	BETSY JOHNSON	2017-07-06
002	2015-01-01	BETSY JOHNSON	2016-06-27
002	2014-01-01	BETSY JOHNSON		BETSY JOHNSON	2015-07-10
002	2013-01-01	BETSY JOHNSON		BETSY JOHNSON	2014-06-25
002	2012-01-01	BETSY JOHNSON	2013-06-21
002	2011-01-01	BETSY JOHNSON	2012-07-09
002	2010-01-01	BETSY JOHNSON	2011-06-29

Plan Statistics for HIGH POINT FINANCIAL SVCS 401K PLAN

401k plan membership statisitcs for HIGH POINT FINANCIAL SVCS 401K PLAN

Measure Date Value
2014: HIGH POINT FINANCIAL SVCS 401K PLAN 2014 401k membership
Total participants, beginning-of-year 2014-01-01 38
Total number of active participants reported on line 7a of the Form 5500 2014-01-01 37
Number of retired or separated participants receiving benefits 2014-01-01 0
Number of other retired or separated participants entitled to future benefits 2014-01-01 3
Total of all active and inactive participants 2014-01-01 40
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2014-01-01 0
Total participants 2014-01-01 40
Number of participants with account balances 2014-01-01 36
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2014-01-01 2
2013: HIGH POINT FINANCIAL SVCS 401K PLAN 2013 401k membership
Total participants, beginning-of-year 2013-01-01 32
Total number of active participants reported on line 7a of the Form 5500 2013-01-01 37
Number of retired or separated participants receiving benefits 2013-01-01 0
Number of other retired or separated participants entitled to future benefits 2013-01-01 2
Total of all active and inactive participants 2013-01-01 39
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2013-01-01 0
Total participants 2013-01-01 39
Number of participants with account balances 2013-01-01 37
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2013-01-01 0

Measure	Date	Value
2014: HIGH POINT FINANCIAL SVCS 401K PLAN 2014 401k membership
Total participants, beginning-of-year	2014-01-01	38
Total number of active participants reported on line 7a of the Form 5500	2014-01-01	37
Number of retired or separated participants receiving benefits	2014-01-01	0
Number of other retired or separated participants entitled to future benefits	2014-01-01	3
Total of all active and inactive participants	2014-01-01	40
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2014-01-01	0
Total participants	2014-01-01	40
Number of participants with account balances	2014-01-01	36
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2014-01-01	2
2013: HIGH POINT FINANCIAL SVCS 401K PLAN 2013 401k membership
Total participants, beginning-of-year	2013-01-01	32
Total number of active participants reported on line 7a of the Form 5500	2013-01-01	37
Number of retired or separated participants receiving benefits	2013-01-01	0
Number of other retired or separated participants entitled to future benefits	2013-01-01	2
Total of all active and inactive participants	2013-01-01	39
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2013-01-01	0
Total participants	2013-01-01	39
Number of participants with account balances	2013-01-01	37
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2013-01-01	0

Financial Data on HIGH POINT FINANCIAL SVCS 401K PLAN

Measure	Date	Value
2014 : HIGH POINT FINANCIAL SVCS 401K PLAN 2014 401k financial data
Transfers to/from the plan	2014-12-31	$14
Total income from all sources	2014-12-31	$371,235
Expenses. Total of all expenses incurred	2014-12-31	$107,480
Benefits paid (including direct rollovers)	2014-12-31	$107,293
Total plan assets at end of year	2014-12-31	$2,656,970
Total plan assets at beginning of year	2014-12-31	$2,393,201
Value of fidelity bond covering the plan	2014-12-31	$1,000,000
Total contributions received or receivable from participants	2014-12-31	$126,148
Expenses. Other expenses not covered elsewhere	2014-12-31	$187
Contributions received from other sources (not participants or employers)	2014-12-31	$73,086
Other income received	2014-12-31	$124,008
Net income (gross income less expenses)	2014-12-31	$263,755
Net plan assets at end of year (total assets less liabilities)	2014-12-31	$2,656,970
Net plan assets at beginning of year (total assets less liabilities)	2014-12-31	$2,393,201
Assets. Value of participant loans	2014-12-31	$36,972
Total contributions received or receivable from employer(s)	2014-12-31	$47,993
Value of certain deemed distributions of participant loans	2014-12-31	$0
Value of corrective distributions	2014-12-31	$0
Funding deficiency by the employer to the plan for this plan year	2014-12-31	$0
Minimum employer required contribution for this plan year	2014-12-31	$0
Amount contributed by the employer to the plan for this plan year	2014-12-31	$0
2013 : HIGH POINT FINANCIAL SVCS 401K PLAN 2013 401k financial data
Transfers to/from the plan	2013-12-31	$0
Total income from all sources	2013-12-31	$581,296
Expenses. Total of all expenses incurred	2013-12-31	$201,972
Benefits paid (including direct rollovers)	2013-12-31	$201,947
Total plan assets at end of year	2013-12-31	$2,393,201
Total plan assets at beginning of year	2013-12-31	$2,013,877
Value of fidelity bond covering the plan	2013-12-31	$1,000,000
Total contributions received or receivable from participants	2013-12-31	$86,625
Expenses. Other expenses not covered elsewhere	2013-12-31	$25
Contributions received from other sources (not participants or employers)	2013-12-31	$55,198
Other income received	2013-12-31	$391,455
Net income (gross income less expenses)	2013-12-31	$379,324
Net plan assets at end of year (total assets less liabilities)	2013-12-31	$2,393,201
Net plan assets at beginning of year (total assets less liabilities)	2013-12-31	$2,013,877
Assets. Value of participant loans	2013-12-31	$33,444
Total contributions received or receivable from employer(s)	2013-12-31	$48,018
Value of certain deemed distributions of participant loans	2013-12-31	$0
Value of corrective distributions	2013-12-31	$0
Funding deficiency by the employer to the plan for this plan year	2013-12-31	$0
Minimum employer required contribution for this plan year	2013-12-31	$0
Amount contributed by the employer to the plan for this plan year	2013-12-31	$0

Form 5500 Responses for HIGH POINT FINANCIAL SVCS 401K PLAN

2014: HIGH POINT FINANCIAL SVCS 401K PLAN 2014 form 5500 responses
2014-01-01	Type of plan entity	Single employer plan
2014-01-01	Submission has been amended	No
2014-01-01	This submission is the final filing	No
2014-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2014-01-01	Plan is a collectively bargained plan	No
2014-01-01	Plan funding arrangement – Insurance	Yes
2014-01-01	Plan funding arrangement – Trust	Yes
2014-01-01	Plan benefit arrangement – Insurance	Yes
2013: HIGH POINT FINANCIAL SVCS 401K PLAN 2013 form 5500 responses
2013-01-01	Type of plan entity	Single employer plan
2013-01-01	Submission has been amended	No
2013-01-01	This submission is the final filing	No
2013-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2013-01-01	Plan is a collectively bargained plan	No
2013-01-01	Plan funding arrangement – Insurance	Yes
2013-01-01	Plan funding arrangement – Trust	Yes
2013-01-01	Plan benefit arrangement – Insurance	Yes

Insurance Providers Used on plan

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )

Policy contract number

GA-833230

Policy instance

Insurance contract or identification number	GA-833230
Number of Individuals Covered	36
Insurance policy start date	2014-01-01
Insurance policy end date	2014-12-31
Total amount of commissions paid to insurance broker	USD $3,782
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	No
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $3,782
Insurance broker organization code?	3
Insurance broker name	AUSDAL FINANCIAL PARTNERS, INC

HARTFORD LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88072 )

Policy contract number

GA-833230

Policy instance

Insurance contract or identification number	GA-833230
Number of Individuals Covered	37
Insurance policy start date	2013-01-01
Insurance policy end date	2013-12-31
Total amount of commissions paid to insurance broker	USD $22,896
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	No
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $22,896
Insurance broker organization code?	3
Insurance broker name	AUSDAL FINANCIAL PARTNERS INC

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Company Name:	HIGH POINT FINANCIAL SERVICES, INC.
Employer identification number (EIN):	363752737
NAIC Classification:	522110
NAIC Description:	Commercial Banking