401k Plan data: FIRST BANK UPPER MICHIGAN DEF COMP P/S plan

FIRST BANK UPPER MICHIGAN DEF COMP P/S 401k Plan overview

Plan Name	FIRST BANK UPPER MICHIGAN DEF COMP P/S
Plan identification number	002

FIRST BANK UPPER MICHIGAN DEF COMP P/S 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.
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

FIRST BANK UPPER MICHIGAN has sponsored the creation of one or more 401k plans.

Company Name: FIRST BANK UPPER MICHIGAN

Employer identification number (EIN): 380579985

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST BANK UPPER MICHIGAN DEF COMP P/S

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01
002 2022-01-01
002 2022-01-01
002 2021-01-01
002 2020-01-01
002 2019-01-01
002 2018-01-01
002 2017-01-01 RICHARD ENGLUND 2018-07-26
002 2016-01-01 RICHARD ENGLUND 2017-07-26
002 2015-01-01 RANDALL PETERSON 2016-07-28
002 2014-01-01 RANDALL PETERSON 2015-07-28
002 2013-01-01 RANDALL PETERSON 2014-07-11
002 2012-01-01 RANDALL PETERSON 2013-06-28
002 2011-01-01 MICHAEL NARDI 2012-07-30
002 2010-01-01 MICHAEL NARDI 2011-06-17

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
002	2023-01-01
002	2022-01-01
002	2022-01-01
002	2021-01-01
002	2020-01-01
002	2019-01-01
002	2018-01-01
002	2017-01-01	RICHARD ENGLUND	2018-07-26
002	2016-01-01	RICHARD ENGLUND	2017-07-26
002	2015-01-01	RANDALL PETERSON	2016-07-28
002	2014-01-01	RANDALL PETERSON	2015-07-28
002	2013-01-01	RANDALL PETERSON	2014-07-11
002	2012-01-01	RANDALL PETERSON	2013-06-28
002	2011-01-01	MICHAEL NARDI	2012-07-30
002	2010-01-01	MICHAEL NARDI	2011-06-17

Plan Statistics for FIRST BANK UPPER MICHIGAN DEF COMP P/S

401k plan membership statisitcs for FIRST BANK UPPER MICHIGAN DEF COMP P/S

Measure Date Value
2023: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2023 401k membership
Total participants, beginning-of-year 2023-01-01 184
Total number of active participants reported on line 7a of the Form 5500 2023-01-01 123
Number of retired or separated participants receiving benefits 2023-01-01 1
Number of other retired or separated participants entitled to future benefits 2023-01-01 56
Total of all active and inactive participants 2023-01-01 180
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2023-01-01 0
Total participants 2023-01-01 180
Number of participants with account balances 2023-01-01 176
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2023-01-01 5
2022: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2022 401k membership
Total participants, beginning-of-year 2022-01-01 186
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 125
Number of retired or separated participants receiving benefits 2022-01-01 1
Number of other retired or separated participants entitled to future benefits 2022-01-01 59
Total of all active and inactive participants 2022-01-01 185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 185
Number of participants with account balances 2022-01-01 180
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 3
2021: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2021 401k membership
Total participants, beginning-of-year 2021-01-01 189
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 122
Number of retired or separated participants receiving benefits 2021-01-01 1
Number of other retired or separated participants entitled to future benefits 2021-01-01 63
Total of all active and inactive participants 2021-01-01 186
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 186
Number of participants with account balances 2021-01-01 182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 5
2020: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2020 401k membership
Total participants, beginning-of-year 2020-01-01 176
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 127
Number of retired or separated participants receiving benefits 2020-01-01 1
Number of other retired or separated participants entitled to future benefits 2020-01-01 57
Total of all active and inactive participants 2020-01-01 185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 185
Number of participants with account balances 2020-01-01 182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 7
2019: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2019 401k membership
Total participants, beginning-of-year 2019-01-01 176
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 127
Number of retired or separated participants receiving benefits 2019-01-01 1
Number of other retired or separated participants entitled to future benefits 2019-01-01 48
Total of all active and inactive participants 2019-01-01 176
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 176
Number of participants with account balances 2019-01-01 127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0
2018: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2018 401k membership
Total participants, beginning-of-year 2018-01-01 171
Total number of active participants reported on line 7a of the Form 5500 2018-01-01 132
Number of retired or separated participants receiving benefits 2018-01-01 1
Number of other retired or separated participants entitled to future benefits 2018-01-01 41
Total of all active and inactive participants 2018-01-01 174
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2018-01-01 1
Total participants 2018-01-01 175
Number of participants with account balances 2018-01-01 159
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2018-01-01 5

Measure	Date	Value
2023: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2023 401k membership
Total participants, beginning-of-year	2023-01-01	184
Total number of active participants reported on line 7a of the Form 5500	2023-01-01	123
Number of retired or separated participants receiving benefits	2023-01-01	1
Number of other retired or separated participants entitled to future benefits	2023-01-01	56
Total of all active and inactive participants	2023-01-01	180
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2023-01-01	0
Total participants	2023-01-01	180
Number of participants with account balances	2023-01-01	176
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2023-01-01	5
2022: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2022 401k membership
Total participants, beginning-of-year	2022-01-01	186
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	125
Number of retired or separated participants receiving benefits	2022-01-01	1
Number of other retired or separated participants entitled to future benefits	2022-01-01	59
Total of all active and inactive participants	2022-01-01	185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	185
Number of participants with account balances	2022-01-01	180
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	3
2021: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2021 401k membership
Total participants, beginning-of-year	2021-01-01	189
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	122
Number of retired or separated participants receiving benefits	2021-01-01	1
Number of other retired or separated participants entitled to future benefits	2021-01-01	63
Total of all active and inactive participants	2021-01-01	186
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	186
Number of participants with account balances	2021-01-01	182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	5
2020: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2020 401k membership
Total participants, beginning-of-year	2020-01-01	176
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	127
Number of retired or separated participants receiving benefits	2020-01-01	1
Number of other retired or separated participants entitled to future benefits	2020-01-01	57
Total of all active and inactive participants	2020-01-01	185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	185
Number of participants with account balances	2020-01-01	182
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	7
2019: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2019 401k membership
Total participants, beginning-of-year	2019-01-01	176
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	127
Number of retired or separated participants receiving benefits	2019-01-01	1
Number of other retired or separated participants entitled to future benefits	2019-01-01	48
Total of all active and inactive participants	2019-01-01	176
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	176
Number of participants with account balances	2019-01-01	127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0
2018: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2018 401k membership
Total participants, beginning-of-year	2018-01-01	171
Total number of active participants reported on line 7a of the Form 5500	2018-01-01	132
Number of retired or separated participants receiving benefits	2018-01-01	1
Number of other retired or separated participants entitled to future benefits	2018-01-01	41
Total of all active and inactive participants	2018-01-01	174
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2018-01-01	1
Total participants	2018-01-01	175
Number of participants with account balances	2018-01-01	159
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2018-01-01	5

Financial Data on FIRST BANK UPPER MICHIGAN DEF COMP P/S

Measure	Date	Value
2023 : FIRST BANK UPPER MICHIGAN DEF COMP P/S 2023 401k financial data
Total income from all sources (including contributions)	2023-12-31	$4,880,205
Total of all expenses incurred	2023-12-31	$1,109,543
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2023-12-31	$1,107,293
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2023-12-31	$1,104,548
Value of total assets at end of year	2023-12-31	$25,888,435
Value of total assets at beginning of year	2023-12-31	$22,117,773
Total of administrative expenses incurred including professional, contract, advisory and management fees	2023-12-31	$2,250
Total interest from all sources	2023-12-31	$39,598
Total dividends received (eg from common stock, registered investment company shares)	2023-12-31	$701,196
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2023-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2023-12-31	$701,196
Was this plan covered by a fidelity bond	2023-12-31	Yes
Value of fidelity bond cover	2023-12-31	$4,750,000
If this is an individual account plan, was there a blackout period	2023-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2023-12-31	No
Contributions received from participants	2023-12-31	$673,855
Participant contributions at end of year	2023-12-31	$228,853
Participant contributions at beginning of year	2023-12-31	$139,492
Income. Received or receivable in cash from other sources (including rollovers)	2023-12-31	$9,258
Total non interest bearing cash at end of year	2023-12-31	$4,106
Total non interest bearing cash at beginning of year	2023-12-31	$594
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Value of net income/loss	2023-12-31	$3,770,662
Value of net assets at end of year (total assets less liabilities)	2023-12-31	$25,888,435
Value of net assets at beginning of year (total assets less liabilities)	2023-12-31	$22,117,773
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2023-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2023-12-31	No
Were any leases to which the plan was party in default or uncollectible	2023-12-31	No
Investment advisory and management fees	2023-12-31	$1,827
Value of interest in registered invesment companies (eg mutual funds) at end of year	2023-12-31	$24,108,070
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2023-12-31	$19,884,869
Income. Interest from loans (other than to participants)	2023-12-31	$10,535
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2023-12-31	$1,335,045
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2023-12-31	$1,895,558
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2023-12-31	$1,895,558
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2023-12-31	$29,063
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2023-12-31	$3,034,863
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2023-12-31	No
Was there a failure to transmit to the plan any participant contributions	2023-12-31	No
Has the plan failed to provide any benefit when due under the plan	2023-12-31	No
Contributions received in cash from employer	2023-12-31	$421,435
Employer contributions (assets) at end of year	2023-12-31	$212,361
Employer contributions (assets) at beginning of year	2023-12-31	$197,260
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2023-12-31	$1,107,293
Did the plan have assets held for investment	2023-12-31	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	2023-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2023-12-31	No
Opinion of an independent qualified public accountant for this plan	2023-12-31	Unqualified
Accountancy firm name	2023-12-31	SCHNEIDER LARCHE HAAPALA & CO PLLC
Accountancy firm EIN	2023-12-31	200345993
2022 : FIRST BANK UPPER MICHIGAN DEF COMP P/S 2022 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$14,215
Total income from all sources (including contributions)	2022-12-31	$-2,028,071
Total of all expenses incurred	2022-12-31	$2,394,049
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$2,391,842
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$1,999,228
Value of total assets at end of year	2022-12-31	$22,117,773
Value of total assets at beginning of year	2022-12-31	$26,554,108
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$2,207
Total interest from all sources	2022-12-31	$18,138
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$681,123
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2022-12-31	$681,123
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$4,750,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$622,243
Participant contributions at end of year	2022-12-31	$139,492
Participant contributions at beginning of year	2022-12-31	$105,964
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$983,665
Total non interest bearing cash at end of year	2022-12-31	$594
Total non interest bearing cash at beginning of year	2022-12-31	$594
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$-4,422,120
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$22,117,773
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$26,539,893
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Investment advisory and management fees	2022-12-31	$2,207
Value of interest in registered invesment companies (eg mutual funds) at end of year	2022-12-31	$19,884,869
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2022-12-31	$24,212,936
Income. Interest from loans (other than to participants)	2022-12-31	$4,566
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2022-12-31	$1,895,558
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2022-12-31	$2,062,190
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2022-12-31	$2,062,190
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2022-12-31	$13,572
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2022-12-31	$-4,726,560
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	No
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$393,320
Employer contributions (assets) at end of year	2022-12-31	$197,260
Employer contributions (assets) at beginning of year	2022-12-31	$172,424
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$2,391,842
Liabilities. Value of benefit claims payable at beginning of year	2022-12-31	$14,215
Did the plan have assets held for investment	2022-12-31	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	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	SCHNEIDER LARCHE HAAPALA & CO PLLC
Accountancy firm EIN	2022-12-31	200345993
2021 : FIRST BANK UPPER MICHIGAN DEF COMP P/S 2021 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$14,215
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$10,969
Total income from all sources (including contributions)	2021-12-31	$4,456,585
Total of all expenses incurred	2021-12-31	$1,394,928
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2021-12-31	$1,378,623
Value of total corrective distributions	2021-12-31	$14,215
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2021-12-31	$1,087,422
Value of total assets at end of year	2021-12-31	$26,554,108
Value of total assets at beginning of year	2021-12-31	$23,489,205
Total of administrative expenses incurred including professional, contract, advisory and management fees	2021-12-31	$2,090
Total interest from all sources	2021-12-31	$6,415
Total dividends received (eg from common stock, registered investment company shares)	2021-12-31	$1,282,215
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2021-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2021-12-31	$1,282,215
Was this plan covered by a fidelity bond	2021-12-31	Yes
Value of fidelity bond cover	2021-12-31	$4,750,000
If this is an individual account plan, was there a blackout period	2021-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2021-12-31	No
Contributions received from participants	2021-12-31	$578,393
Participant contributions at end of year	2021-12-31	$105,964
Participant contributions at beginning of year	2021-12-31	$121,557
Income. Received or receivable in cash from other sources (including rollovers)	2021-12-31	$155,772
Total non interest bearing cash at end of year	2021-12-31	$594
Total non interest bearing cash at beginning of year	2021-12-31	$594
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Value of net income/loss	2021-12-31	$3,061,657
Value of net assets at end of year (total assets less liabilities)	2021-12-31	$26,539,893
Value of net assets at beginning of year (total assets less liabilities)	2021-12-31	$23,478,236
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2021-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2021-12-31	No
Were any leases to which the plan was party in default or uncollectible	2021-12-31	No
Investment advisory and management fees	2021-12-31	$2,090
Value of interest in registered invesment companies (eg mutual funds) at end of year	2021-12-31	$24,212,936
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2021-12-31	$22,613,309
Income. Interest from loans (other than to participants)	2021-12-31	$4,679
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2021-12-31	$2,062,190
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2021-12-31	$550,420
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2021-12-31	$550,420
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2021-12-31	$1,736
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2021-12-31	$2,080,533
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2021-12-31	No
Was there a failure to transmit to the plan any participant contributions	2021-12-31	No
Has the plan failed to provide any benefit when due under the plan	2021-12-31	No
Contributions received in cash from employer	2021-12-31	$353,257
Employer contributions (assets) at end of year	2021-12-31	$172,424
Employer contributions (assets) at beginning of year	2021-12-31	$203,325
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2021-12-31	$1,378,623
Liabilities. Value of benefit claims payable at end of year	2021-12-31	$14,215
Liabilities. Value of benefit claims payable at beginning of year	2021-12-31	$10,969
Did the plan have assets held for investment	2021-12-31	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	2021-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2021-12-31	No
Opinion of an independent qualified public accountant for this plan	2021-12-31	Unqualified
Accountancy firm name	2021-12-31	SCHNEIDER LARCHE HAAPALA & CO PLLC
Accountancy firm EIN	2021-12-31	200345993
2020 : FIRST BANK UPPER MICHIGAN DEF COMP P/S 2020 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$10,969
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$11,059
Total income from all sources (including contributions)	2020-12-31	$3,972,011
Total of all expenses incurred	2020-12-31	$424,785
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2020-12-31	$411,861
Value of total corrective distributions	2020-12-31	$10,969
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2020-12-31	$978,448
Value of total assets at end of year	2020-12-31	$23,489,205
Value of total assets at beginning of year	2020-12-31	$19,942,069
Total of administrative expenses incurred including professional, contract, advisory and management fees	2020-12-31	$1,955
Total interest from all sources	2020-12-31	$6,098
Total dividends received (eg from common stock, registered investment company shares)	2020-12-31	$775,705
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2020-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2020-12-31	$775,705
Was this plan covered by a fidelity bond	2020-12-31	Yes
Value of fidelity bond cover	2020-12-31	$4,750,000
If this is an individual account plan, was there a blackout period	2020-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2020-12-31	No
Contributions received from participants	2020-12-31	$573,191
Participant contributions at end of year	2020-12-31	$121,557
Participant contributions at beginning of year	2020-12-31	$45,283
Income. Received or receivable in cash from other sources (including rollovers)	2020-12-31	$18,284
Total non interest bearing cash at end of year	2020-12-31	$594
Total non interest bearing cash at beginning of year	2020-12-31	$594
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2020-12-31	No
Value of net income/loss	2020-12-31	$3,547,226
Value of net assets at end of year (total assets less liabilities)	2020-12-31	$23,478,236
Value of net assets at beginning of year (total assets less liabilities)	2020-12-31	$19,931,010
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2020-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2020-12-31	No
Were any leases to which the plan was party in default or uncollectible	2020-12-31	No
Investment advisory and management fees	2020-12-31	$1,955
Value of interest in registered invesment companies (eg mutual funds) at end of year	2020-12-31	$22,613,309
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2020-12-31	$19,284,175
Income. Interest from loans (other than to participants)	2020-12-31	$2,535
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2020-12-31	$550,420
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2020-12-31	$423,346
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2020-12-31	$423,346
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2020-12-31	$3,563
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2020-12-31	$2,211,760
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2020-12-31	No
Was there a failure to transmit to the plan any participant contributions	2020-12-31	No
Has the plan failed to provide any benefit when due under the plan	2020-12-31	No
Contributions received in cash from employer	2020-12-31	$386,973
Employer contributions (assets) at end of year	2020-12-31	$203,325
Employer contributions (assets) at beginning of year	2020-12-31	$188,671
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2020-12-31	$411,861
Liabilities. Value of benefit claims payable at end of year	2020-12-31	$10,969
Liabilities. Value of benefit claims payable at beginning of year	2020-12-31	$11,059
Did the plan have assets held for investment	2020-12-31	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	2020-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2020-12-31	No
Opinion of an independent qualified public accountant for this plan	2020-12-31	Disclaimer
Accountancy firm name	2020-12-31	MAKELA TOUTANT HILL NARDI & KATONA
Accountancy firm EIN	2020-12-31	382806590
2019 : FIRST BANK UPPER MICHIGAN DEF COMP P/S 2019 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$11,059
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2019-12-31	$2,340
Total income from all sources (including contributions)	2019-12-31	$4,552,667
Total of all expenses incurred	2019-12-31	$895,244
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2019-12-31	$882,525
Value of total corrective distributions	2019-12-31	$11,059
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2019-12-31	$995,826
Value of total assets at end of year	2019-12-31	$19,942,069
Value of total assets at beginning of year	2019-12-31	$16,275,927
Total of administrative expenses incurred including professional, contract, advisory and management fees	2019-12-31	$1,660
Total interest from all sources	2019-12-31	$7,580
Total dividends received (eg from common stock, registered investment company shares)	2019-12-31	$725,515
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2019-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2019-12-31	$725,515
Was this plan covered by a fidelity bond	2019-12-31	Yes
Value of fidelity bond cover	2019-12-31	$4,750,000
If this is an individual account plan, was there a blackout period	2019-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2019-12-31	No
Contributions received from participants	2019-12-31	$537,582
Participant contributions at end of year	2019-12-31	$45,283
Participant contributions at beginning of year	2019-12-31	$73,890
Income. Received or receivable in cash from other sources (including rollovers)	2019-12-31	$101,183
Total non interest bearing cash at end of year	2019-12-31	$594
Total non interest bearing cash at beginning of year	2019-12-31	$24,110
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2019-12-31	No
Value of net income/loss	2019-12-31	$3,657,423
Value of net assets at end of year (total assets less liabilities)	2019-12-31	$19,931,010
Value of net assets at beginning of year (total assets less liabilities)	2019-12-31	$16,273,587
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2019-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2019-12-31	No
Were any leases to which the plan was party in default or uncollectible	2019-12-31	No
Investment advisory and management fees	2019-12-31	$1,660
Value of interest in registered invesment companies (eg mutual funds) at end of year	2019-12-31	$19,284,175
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2019-12-31	$15,076,397
Income. Interest from loans (other than to participants)	2019-12-31	$2,375
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2019-12-31	$423,346
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2019-12-31	$911,853
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2019-12-31	$911,853
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2019-12-31	$5,205
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2019-12-31	$2,823,746
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2019-12-31	No
Was there a failure to transmit to the plan any participant contributions	2019-12-31	No
Has the plan failed to provide any benefit when due under the plan	2019-12-31	No
Contributions received in cash from employer	2019-12-31	$357,061
Employer contributions (assets) at end of year	2019-12-31	$188,671
Employer contributions (assets) at beginning of year	2019-12-31	$189,677
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2019-12-31	$882,525
Liabilities. Value of benefit claims payable at end of year	2019-12-31	$11,059
Liabilities. Value of benefit claims payable at beginning of year	2019-12-31	$2,340
Did the plan have assets held for investment	2019-12-31	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	2019-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2019-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2019-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2019-12-31	Disclaimer
Accountancy firm name	2019-12-31	MAKELA TOUTANT HILL NARDI & KATONA
Accountancy firm EIN	2019-12-31	382806590
2018 : FIRST BANK UPPER MICHIGAN DEF COMP P/S 2018 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2018-12-31	$2,340
Total income from all sources (including contributions)	2018-12-31	$-57,150
Total of all expenses incurred	2018-12-31	$866,741
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2018-12-31	$862,164
Value of total corrective distributions	2018-12-31	$2,340
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2018-12-31	$1,151,975
Value of total assets at end of year	2018-12-31	$16,275,927
Value of total assets at beginning of year	2018-12-31	$17,197,478
Total of administrative expenses incurred including professional, contract, advisory and management fees	2018-12-31	$2,237
Total interest from all sources	2018-12-31	$7,023
Total dividends received (eg from common stock, registered investment company shares)	2018-12-31	$863,788
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2018-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2018-12-31	$863,788
Was this plan covered by a fidelity bond	2018-12-31	Yes
Value of fidelity bond cover	2018-12-31	$1,500,000
If this is an individual account plan, was there a blackout period	2018-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2018-12-31	No
Contributions received from participants	2018-12-31	$544,983
Participant contributions at end of year	2018-12-31	$73,890
Participant contributions at beginning of year	2018-12-31	$82,035
Participant contributions at beginning of year	2018-12-31	$58,642
Income. Received or receivable in cash from other sources (including rollovers)	2018-12-31	$248,251
Total non interest bearing cash at end of year	2018-12-31	$24,110
Total non interest bearing cash at beginning of year	2018-12-31	$1,010
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2018-12-31	No
Value of net income/loss	2018-12-31	$-923,891
Value of net assets at end of year (total assets less liabilities)	2018-12-31	$16,273,587
Value of net assets at beginning of year (total assets less liabilities)	2018-12-31	$17,197,478
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2018-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2018-12-31	No
Were any leases to which the plan was party in default or uncollectible	2018-12-31	No
Investment advisory and management fees	2018-12-31	$2,237
Value of interest in registered invesment companies (eg mutual funds) at end of year	2018-12-31	$15,076,397
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2018-12-31	$16,584,341
Income. Interest from loans (other than to participants)	2018-12-31	$3,366
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2018-12-31	$911,853
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2018-12-31	$175,660
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2018-12-31	$175,660
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2018-12-31	$3,657
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2018-12-31	$-2,079,936
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2018-12-31	No
Was there a failure to transmit to the plan any participant contributions	2018-12-31	No
Has the plan failed to provide any benefit when due under the plan	2018-12-31	No
Contributions received in cash from employer	2018-12-31	$358,741
Employer contributions (assets) at end of year	2018-12-31	$189,677
Employer contributions (assets) at beginning of year	2018-12-31	$295,790
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2018-12-31	$862,164
Liabilities. Value of benefit claims payable at end of year	2018-12-31	$2,340
Did the plan have assets held for investment	2018-12-31	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	2018-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2018-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2018-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2018-12-31	Disclaimer
Accountancy firm name	2018-12-31	MAKELA TOUTANT HILL NARDI & KATONA
Accountancy firm EIN	2018-12-31	382806590

Form 5500 Responses for FIRST BANK UPPER MICHIGAN DEF COMP P/S

2023: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2023 form 5500 responses
2023-01-01	Type of plan entity	Single employer plan
2023-01-01	Plan funding arrangement – Trust	Yes
2023-01-01	Plan benefit arrangement - Trust	Yes
2022: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	Yes
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2021: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes
2019: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2019 form 5500 responses
2019-01-01	Type of plan entity	Single employer plan
2019-01-01	Plan funding arrangement – Trust	Yes
2019-01-01	Plan benefit arrangement - Trust	Yes
2018: FIRST BANK UPPER MICHIGAN DEF COMP P/S 2018 form 5500 responses
2018-01-01	Type of plan entity	Single employer plan
2018-01-01	Plan funding arrangement – Trust	Yes
2018-01-01	Plan benefit arrangement - Trust	Yes

Potentially related plans

Was this data useful?

If you found the data here useful, PLEASE HELP US. We are a start-up and believe in making information freely available. By linking to us, posting on twitter, facebook and linkedin about us and generally spreading the word, you'll help us to grow. Our vision is to provide high quality data about the activities of all the companies in the world and where possible make it free to use and view. Finding and integrating data from thousands of data sources is time consuming and needs lots of effort. By simply spreading the word about us, you will help us. Please use the share buttons. It will only take a few seconds of your time. Thanks for helping

Information Disclaimer

The information provided on this website is not advice, endorsement or recommendation
The information published is supplied by third parties so we make no warranty on the accuracy, completeness etc. This information is provided "as-is". The information is subject to change as we obtain updates and corrections from the primary information sources.
You are free to use the information for your own personal research on the understanding to do so is at your own risk.

See full terms and conditions

Company Name:	FIRST BANK UPPER MICHIGAN
Employer identification number (EIN):	380579985
NAIC Classification:	522110
NAIC Description:	Commercial Banking