401k Plan data: BANK OF THE CAROLINAS 401K PLAN plan

BANK OF THE CAROLINAS 401K PLAN 401k Plan overview

Plan Name	BANK OF THE CAROLINAS 401K PLAN
Plan identification number	001

BANK OF THE CAROLINAS 401K PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Profit-sharing
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.
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

BANK OF THE CAROLINAS has sponsored the creation of one or more 401k plans.

Company Name: BANK OF THE CAROLINAS

Employer identification number (EIN): 522087602

NAIC Classification: 522110
NAIC Description: Commercial Banking

Additional information about BANK OF THE CAROLINAS

Jurisdiction of Incorporation: North Carolina Secretary of State

Incorporation Date:

Company Identification Number: 0324215

More information about BANK OF THE CAROLINAS

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF THE CAROLINAS 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2015-01-01 JEFFERY S. MARTIN
001 2014-01-01 AMY SHOFFNER
001 2013-01-01 AMY SHOFFNER
001 2012-01-01 AMY SHOFFNER
001 2011-01-01 AMY SHOFFNER
001 2010-01-01 AMY SHOFFNER
001 2009-01-01 ROBERT MARZIANO

Plan id#	Filing Submission Date	Name of Administrator
001	2015-01-01	JEFFERY S. MARTIN
001	2014-01-01	AMY SHOFFNER
001	2013-01-01	AMY SHOFFNER
001	2012-01-01	AMY SHOFFNER
001	2011-01-01	AMY SHOFFNER
001	2010-01-01	AMY SHOFFNER
001	2009-01-01	ROBERT MARZIANO

Plan Statistics for BANK OF THE CAROLINAS 401K PLAN

401k plan membership statisitcs for BANK OF THE CAROLINAS 401K PLAN

Measure Date Value
2015: BANK OF THE CAROLINAS 401K PLAN 2015 401k membership
Total participants, beginning-of-year 2015-01-01 110
Total number of active participants reported on line 7a of the Form 5500 2015-01-01 0
Number of retired or separated participants receiving benefits 2015-01-01 0
Number of other retired or separated participants entitled to future benefits 2015-01-01 0
Total of all active and inactive participants 2015-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2015-01-01 0
Total participants 2015-01-01 0
Number of participants with account balances 2015-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2015-01-01 0
2014: BANK OF THE CAROLINAS 401K PLAN 2014 401k membership
Total participants, beginning-of-year 2014-01-01 118
Total number of active participants reported on line 7a of the Form 5500 2014-01-01 81
Number of retired or separated participants receiving benefits 2014-01-01 12
Number of other retired or separated participants entitled to future benefits 2014-01-01 17
Total of all active and inactive participants 2014-01-01 110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2014-01-01 0
Total participants 2014-01-01 110
Number of participants with account balances 2014-01-01 81
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2014-01-01 3
2013: BANK OF THE CAROLINAS 401K PLAN 2013 401k membership
Total participants, beginning-of-year 2013-01-01 121
Total number of active participants reported on line 7a of the Form 5500 2013-01-01 98
Number of retired or separated participants receiving benefits 2013-01-01 8
Number of other retired or separated participants entitled to future benefits 2013-01-01 11
Total of all active and inactive participants 2013-01-01 117
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2013-01-01 0
Total participants 2013-01-01 117
Number of participants with account balances 2013-01-01 78
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2013-01-01 2
2012: BANK OF THE CAROLINAS 401K PLAN 2012 401k membership
Total participants, beginning-of-year 2012-01-01 131
Total number of active participants reported on line 7a of the Form 5500 2012-01-01 104
Number of retired or separated participants receiving benefits 2012-01-01 5
Number of other retired or separated participants entitled to future benefits 2012-01-01 12
Total of all active and inactive participants 2012-01-01 121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2012-01-01 0
Total participants 2012-01-01 121
Number of participants with account balances 2012-01-01 79
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2012-01-01 6
2011: BANK OF THE CAROLINAS 401K PLAN 2011 401k membership
Total participants, beginning-of-year 2011-01-01 128
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 112
Number of retired or separated participants receiving benefits 2011-01-01 4
Number of other retired or separated participants entitled to future benefits 2011-01-01 15
Total of all active and inactive participants 2011-01-01 131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 0
Total participants 2011-01-01 131
Number of participants with account balances 2011-01-01 88
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 4
2010: BANK OF THE CAROLINAS 401K PLAN 2010 401k membership
Total participants, beginning-of-year 2010-01-01 140
Total number of active participants reported on line 7a of the Form 5500 2010-01-01 102
Number of retired or separated participants receiving benefits 2010-01-01 3
Number of other retired or separated participants entitled to future benefits 2010-01-01 20
Total of all active and inactive participants 2010-01-01 125
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2010-01-01 0
Total participants 2010-01-01 125
Number of participants with account balances 2010-01-01 88
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2010-01-01 16
2009: BANK OF THE CAROLINAS 401K PLAN 2009 401k membership
Total participants, beginning-of-year 2009-01-01 145
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 104
Number of other retired or separated participants entitled to future benefits 2009-01-01 20
Total of all active and inactive participants 2009-01-01 124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 1
Total participants 2009-01-01 125
Number of participants with account balances 2009-01-01 94
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 2

Measure	Date	Value
2015: BANK OF THE CAROLINAS 401K PLAN 2015 401k membership
Total participants, beginning-of-year	2015-01-01	110
Total number of active participants reported on line 7a of the Form 5500	2015-01-01	0
Number of retired or separated participants receiving benefits	2015-01-01	0
Number of other retired or separated participants entitled to future benefits	2015-01-01	0
Total of all active and inactive participants	2015-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2015-01-01	0
Total participants	2015-01-01	0
Number of participants with account balances	2015-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2015-01-01	0
2014: BANK OF THE CAROLINAS 401K PLAN 2014 401k membership
Total participants, beginning-of-year	2014-01-01	118
Total number of active participants reported on line 7a of the Form 5500	2014-01-01	81
Number of retired or separated participants receiving benefits	2014-01-01	12
Number of other retired or separated participants entitled to future benefits	2014-01-01	17
Total of all active and inactive participants	2014-01-01	110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2014-01-01	0
Total participants	2014-01-01	110
Number of participants with account balances	2014-01-01	81
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2014-01-01	3
2013: BANK OF THE CAROLINAS 401K PLAN 2013 401k membership
Total participants, beginning-of-year	2013-01-01	121
Total number of active participants reported on line 7a of the Form 5500	2013-01-01	98
Number of retired or separated participants receiving benefits	2013-01-01	8
Number of other retired or separated participants entitled to future benefits	2013-01-01	11
Total of all active and inactive participants	2013-01-01	117
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2013-01-01	0
Total participants	2013-01-01	117
Number of participants with account balances	2013-01-01	78
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2013-01-01	2
2012: BANK OF THE CAROLINAS 401K PLAN 2012 401k membership
Total participants, beginning-of-year	2012-01-01	131
Total number of active participants reported on line 7a of the Form 5500	2012-01-01	104
Number of retired or separated participants receiving benefits	2012-01-01	5
Number of other retired or separated participants entitled to future benefits	2012-01-01	12
Total of all active and inactive participants	2012-01-01	121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2012-01-01	0
Total participants	2012-01-01	121
Number of participants with account balances	2012-01-01	79
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2012-01-01	6
2011: BANK OF THE CAROLINAS 401K PLAN 2011 401k membership
Total participants, beginning-of-year	2011-01-01	128
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	112
Number of retired or separated participants receiving benefits	2011-01-01	4
Number of other retired or separated participants entitled to future benefits	2011-01-01	15
Total of all active and inactive participants	2011-01-01	131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	0
Total participants	2011-01-01	131
Number of participants with account balances	2011-01-01	88
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	4
2010: BANK OF THE CAROLINAS 401K PLAN 2010 401k membership
Total participants, beginning-of-year	2010-01-01	140
Total number of active participants reported on line 7a of the Form 5500	2010-01-01	102
Number of retired or separated participants receiving benefits	2010-01-01	3
Number of other retired or separated participants entitled to future benefits	2010-01-01	20
Total of all active and inactive participants	2010-01-01	125
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2010-01-01	0
Total participants	2010-01-01	125
Number of participants with account balances	2010-01-01	88
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2010-01-01	16
2009: BANK OF THE CAROLINAS 401K PLAN 2009 401k membership
Total participants, beginning-of-year	2009-01-01	145
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	104
Number of other retired or separated participants entitled to future benefits	2009-01-01	20
Total of all active and inactive participants	2009-01-01	124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	1
Total participants	2009-01-01	125
Number of participants with account balances	2009-01-01	94
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	2

Financial Data on BANK OF THE CAROLINAS 401K PLAN

Measure	Date	Value
2015 : BANK OF THE CAROLINAS 401K PLAN 2015 401k financial data
Total unrealized appreciation/depreciation of assets	2015-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2015-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2015-12-31	$3,622
Total income from all sources (including contributions)	2015-12-31	$197,160
Total loss/gain on sale of assets	2015-12-31	$0
Total of all expenses incurred	2015-12-31	$2,232,137
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2015-12-31	$2,219,930
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2015-12-31	$194,122
Value of total assets at end of year	2015-12-31	$0
Value of total assets at beginning of year	2015-12-31	$2,038,599
Total of administrative expenses incurred including professional, contract, advisory and management fees	2015-12-31	$12,207
Total interest from all sources	2015-12-31	$326
Total dividends received (eg from common stock, registered investment company shares)	2015-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2015-12-31	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2015-12-31	$0
Administrative expenses professional fees incurred	2015-12-31	$12,207
Was this plan covered by a fidelity bond	2015-12-31	Yes
Value of fidelity bond cover	2015-12-31	$4,000,000
If this is an individual account plan, was there a blackout period	2015-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2015-12-31	No
Contributions received from participants	2015-12-31	$194,122
Participant contributions at end of year	2015-12-31	$0
Participant contributions at beginning of year	2015-12-31	$7,426
Liabilities. Value of operating payables at end of year	2015-12-31	$0
Liabilities. Value of operating payables at beginning of year	2015-12-31	$3,622
Total non interest bearing cash at end of year	2015-12-31	$0
Total non interest bearing cash at beginning of year	2015-12-31	$326
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2015-12-31	No
Value of net income/loss	2015-12-31	$-2,034,977
Value of net assets at end of year (total assets less liabilities)	2015-12-31	$0
Value of net assets at beginning of year (total assets less liabilities)	2015-12-31	$2,034,977
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2015-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2015-12-31	No
Were any leases to which the plan was party in default or uncollectible	2015-12-31	No
Value of interest in pooled separate accounts at end of year	2015-12-31	$0
Value of interest in pooled separate accounts at beginning of year	2015-12-31	$2,016,700
Income. Interest from loans (other than to participants)	2015-12-31	$238
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2015-12-31	$88
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2015-12-31	$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2015-12-31	$10,563
Net investment gain/loss from pooled separate accounts	2015-12-31	$2,712
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2015-12-31	No
Was there a failure to transmit to the plan any participant contributions	2015-12-31	No
Has the plan failed to provide any benefit when due under the plan	2015-12-31	No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2015-12-31	$2,219,930
Assets. Corporate common stocks other than exployer securities at end of year	2015-12-31	$0
Assets. Corporate common stocks other than exployer securities at beginning of year	2015-12-31	$3,584
Did the plan have assets held for investment	2015-12-31	No
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	2015-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2015-12-31	Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2015-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2015-12-31	Disclaimer
Accountancy firm name	2015-12-31	CHERRY BEKAERT
Accountancy firm EIN	2015-12-31	560574444
2014 : BANK OF THE CAROLINAS 401K PLAN 2014 401k financial data
Total unrealized appreciation/depreciation of assets	2014-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2014-12-31	$3,622
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2014-12-31	$0
Total income from all sources (including contributions)	2014-12-31	$325,747
Total loss/gain on sale of assets	2014-12-31	$0
Total of all expenses incurred	2014-12-31	$391,699
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2014-12-31	$376,743
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2014-12-31	$254,355
Value of total assets at end of year	2014-12-31	$2,038,599
Value of total assets at beginning of year	2014-12-31	$2,100,929
Total of administrative expenses incurred including professional, contract, advisory and management fees	2014-12-31	$14,956
Total interest from all sources	2014-12-31	$393
Total dividends received (eg from common stock, registered investment company shares)	2014-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2014-12-31	No
Administrative expenses professional fees incurred	2014-12-31	$14,821
Was this plan covered by a fidelity bond	2014-12-31	Yes
Value of fidelity bond cover	2014-12-31	$4,000,000
If this is an individual account plan, was there a blackout period	2014-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2014-12-31	No
Contributions received from participants	2014-12-31	$253,032
Participant contributions at end of year	2014-12-31	$7,426
Participant contributions at beginning of year	2014-12-31	$11,168
Income. Received or receivable in cash from other sources (including rollovers)	2014-12-31	$1,323
Liabilities. Value of operating payables at end of year	2014-12-31	$3,622
Liabilities. Value of operating payables at beginning of year	2014-12-31	$0
Total non interest bearing cash at end of year	2014-12-31	$326
Total non interest bearing cash at beginning of year	2014-12-31	$390
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2014-12-31	No
Value of net income/loss	2014-12-31	$-65,952
Value of net assets at end of year (total assets less liabilities)	2014-12-31	$2,034,977
Value of net assets at beginning of year (total assets less liabilities)	2014-12-31	$2,100,929
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2014-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2014-12-31	No
Were any leases to which the plan was party in default or uncollectible	2014-12-31	No
Value of interest in pooled separate accounts at end of year	2014-12-31	$2,016,700
Value of interest in pooled separate accounts at beginning of year	2014-12-31	$2,060,959
Income. Interest from loans (other than to participants)	2014-12-31	$296
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2014-12-31	$97
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2014-12-31	$10,563
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2014-12-31	$8,873
Net investment gain/loss from pooled separate accounts	2014-12-31	$70,999
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2014-12-31	No
Was there a failure to transmit to the plan any participant contributions	2014-12-31	No
Has the plan failed to provide any benefit when due under the plan	2014-12-31	No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2014-12-31	$376,743
Contract administrator fees	2014-12-31	$135
Assets. Corporate common stocks other than exployer securities at end of year	2014-12-31	$3,584
Assets. Corporate common stocks other than exployer securities at beginning of year	2014-12-31	$19,539
Did the plan have assets held for investment	2014-12-31	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	2014-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2014-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2014-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2014-12-31	Disclaimer
Accountancy firm name	2014-12-31	CHERRY BEKAERT
Accountancy firm EIN	2014-12-31	560574444
2013 : BANK OF THE CAROLINAS 401K PLAN 2013 401k financial data
Total unrealized appreciation/depreciation of assets	2013-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2013-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2013-12-31	$0
Total income from all sources (including contributions)	2013-12-31	$696,915
Total loss/gain on sale of assets	2013-12-31	$0
Total of all expenses incurred	2013-12-31	$194,206
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2013-12-31	$180,430
Expenses. Certain deemed distributions of participant loans	2013-12-31	$5
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2013-12-31	$395,775
Value of total assets at end of year	2013-12-31	$2,100,929
Value of total assets at beginning of year	2013-12-31	$1,598,220
Total of administrative expenses incurred including professional, contract, advisory and management fees	2013-12-31	$13,771
Total interest from all sources	2013-12-31	$402
Total dividends received (eg from common stock, registered investment company shares)	2013-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2013-12-31	No
Administrative expenses professional fees incurred	2013-12-31	$13,510
Was this plan covered by a fidelity bond	2013-12-31	Yes
Value of fidelity bond cover	2013-12-31	$3,000,000
If this is an individual account plan, was there a blackout period	2013-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2013-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2013-12-31	No
Contributions received from participants	2013-12-31	$145,239
Participant contributions at end of year	2013-12-31	$11,168
Participant contributions at beginning of year	2013-12-31	$4,608
Total non interest bearing cash at end of year	2013-12-31	$390
Total non interest bearing cash at beginning of year	2013-12-31	$416
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2013-12-31	No
Value of net income/loss	2013-12-31	$502,709
Value of net assets at end of year (total assets less liabilities)	2013-12-31	$2,100,929
Value of net assets at beginning of year (total assets less liabilities)	2013-12-31	$1,598,220
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2013-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2013-12-31	No
Were any leases to which the plan was party in default or uncollectible	2013-12-31	No
Value of interest in pooled separate accounts at end of year	2013-12-31	$2,060,959
Value of interest in pooled separate accounts at beginning of year	2013-12-31	$1,577,437
Interest on participant loans	2013-12-31	$282
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2013-12-31	$120
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2013-12-31	$8,873
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2013-12-31	$10,275
Net investment gain/loss from pooled separate accounts	2013-12-31	$300,738
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2013-12-31	No
Was there a failure to transmit to the plan any participant contributions	2013-12-31	No
Has the plan failed to provide any benefit when due under the plan	2013-12-31	No
Contributions received in cash from employer	2013-12-31	$250,536
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2013-12-31	$180,430
Contract administrator fees	2013-12-31	$261
Assets. Corporate common stocks other than exployer securities at end of year	2013-12-31	$19,539
Assets. Corporate common stocks other than exployer securities at beginning of year	2013-12-31	$5,484
Did the plan have assets held for investment	2013-12-31	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	2013-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2013-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2013-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2013-12-31	Disclaimer
Accountancy firm name	2013-12-31	TURLINGTON AND COMPANY, LLP
Accountancy firm EIN	2013-12-31	560817345
2012 : BANK OF THE CAROLINAS 401K PLAN 2012 401k financial data
Total unrealized appreciation/depreciation of assets	2012-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2012-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2012-12-31	$0
Total income from all sources (including contributions)	2012-12-31	$436,305
Total loss/gain on sale of assets	2012-12-31	$0
Total of all expenses incurred	2012-12-31	$416,062
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2012-12-31	$403,712
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2012-12-31	$251,679
Value of total assets at end of year	2012-12-31	$1,598,220
Value of total assets at beginning of year	2012-12-31	$1,577,977
Total of administrative expenses incurred including professional, contract, advisory and management fees	2012-12-31	$12,350
Total interest from all sources	2012-12-31	$558
Total dividends received (eg from common stock, registered investment company shares)	2012-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2012-12-31	No
Administrative expenses professional fees incurred	2012-12-31	$12,113
Was this plan covered by a fidelity bond	2012-12-31	Yes
Value of fidelity bond cover	2012-12-31	$3,000,000
If this is an individual account plan, was there a blackout period	2012-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2012-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2012-12-31	No
Contributions received from participants	2012-12-31	$251,679
Participant contributions at end of year	2012-12-31	$4,608
Participant contributions at beginning of year	2012-12-31	$24,378
Other income not declared elsewhere	2012-12-31	$313
Total non interest bearing cash at end of year	2012-12-31	$416
Total non interest bearing cash at beginning of year	2012-12-31	$560
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2012-12-31	No
Value of net income/loss	2012-12-31	$20,243
Value of net assets at end of year (total assets less liabilities)	2012-12-31	$1,598,220
Value of net assets at beginning of year (total assets less liabilities)	2012-12-31	$1,577,977
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2012-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2012-12-31	No
Were any leases to which the plan was party in default or uncollectible	2012-12-31	No
Value of interest in pooled separate accounts at end of year	2012-12-31	$1,577,437
Value of interest in pooled separate accounts at beginning of year	2012-12-31	$1,522,250
Interest on participant loans	2012-12-31	$379
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2012-12-31	$179
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2012-12-31	$10,275
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2012-12-31	$21,666
Net investment gain/loss from pooled separate accounts	2012-12-31	$183,755
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2012-12-31	No
Was there a failure to transmit to the plan any participant contributions	2012-12-31	No
Has the plan failed to provide any benefit when due under the plan	2012-12-31	No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2012-12-31	$403,712
Contract administrator fees	2012-12-31	$237
Assets. Corporate common stocks other than exployer securities at end of year	2012-12-31	$5,484
Assets. Corporate common stocks other than exployer securities at beginning of year	2012-12-31	$9,123
Did the plan have assets held for investment	2012-12-31	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	2012-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2012-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2012-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2012-12-31	Disclaimer
Accountancy firm name	2012-12-31	TURLINGTON AND COMPANY, LLP
Accountancy firm EIN	2012-12-31	560817345
2011 : BANK OF THE CAROLINAS 401K PLAN 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	$0
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	$145,459
Total loss/gain on sale of assets	2011-12-31	$0
Total of all expenses incurred	2011-12-31	$162,012
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2011-12-31	$161,348
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2011-12-31	$258,471
Value of total assets at end of year	2011-12-31	$1,577,977
Value of total assets at beginning of year	2011-12-31	$1,594,530
Total of administrative expenses incurred including professional, contract, advisory and management fees	2011-12-31	$664
Total interest from all sources	2011-12-31	$720
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	$3,000,000
If this is an individual account plan, was there a blackout period	2011-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2011-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2011-12-31	No
Contributions received from participants	2011-12-31	$258,471
Participant contributions at end of year	2011-12-31	$24,378
Participant contributions at beginning of year	2011-12-31	$13,900
Other income not declared elsewhere	2011-12-31	$-270
Total non interest bearing cash at end of year	2011-12-31	$560
Total non interest bearing cash at beginning of year	2011-12-31	$67
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	$-16,553
Value of net assets at end of year (total assets less liabilities)	2011-12-31	$1,577,977
Value of net assets at beginning of year (total assets less liabilities)	2011-12-31	$1,594,530
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
Value of interest in pooled separate accounts at end of year	2011-12-31	$1,522,250
Value of interest in pooled separate accounts at beginning of year	2011-12-31	$1,444,291
Interest on participant loans	2011-12-31	$717
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2011-12-31	$3
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2011-12-31	$21,666
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2011-12-31	$46,107
Net investment gain/loss from pooled separate accounts	2011-12-31	$-113,462
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
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2011-12-31	$161,348
Contract administrator fees	2011-12-31	$664
Assets. Corporate common stocks other than exployer securities at end of year	2011-12-31	$9,123
Assets. Corporate common stocks other than exployer securities at beginning of year	2011-12-31	$90,165
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	Yes
Opinion of an independent qualified public accountant for this plan	2011-12-31	Disclaimer
Accountancy firm name	2011-12-31	TURLINGTON AND COMPANY, LLP
Accountancy firm EIN	2011-12-31	560817345
2010 : BANK OF THE CAROLINAS 401K PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2010-12-31	$-81,269
Total unrealized appreciation/depreciation of assets	2010-12-31	$-81,269
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	$371,811
Total loss/gain on sale of assets	2010-12-31	$0
Total of all expenses incurred	2010-12-31	$354,634
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2010-12-31	$343,198
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2010-12-31	$304,703
Value of total assets at end of year	2010-12-31	$1,594,530
Value of total assets at beginning of year	2010-12-31	$1,577,353
Total of administrative expenses incurred including professional, contract, advisory and management fees	2010-12-31	$11,436
Total interest from all sources	2010-12-31	$442
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	$6,000,000
If this is an individual account plan, was there a blackout period	2010-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2010-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2010-12-31	No
Contributions received from participants	2010-12-31	$279,965
Participant contributions at end of year	2010-12-31	$13,900
Participant contributions at beginning of year	2010-12-31	$6,142
Income. Received or receivable in cash from other sources (including rollovers)	2010-12-31	$24,738
Total non interest bearing cash at end of year	2010-12-31	$67
Total non interest bearing cash at beginning of year	2010-12-31	$8
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	$17,177
Value of net assets at end of year (total assets less liabilities)	2010-12-31	$1,594,530
Value of net assets at beginning of year (total assets less liabilities)	2010-12-31	$1,577,353
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
Investment advisory and management fees	2010-12-31	$70
Value of interest in pooled separate accounts at end of year	2010-12-31	$1,444,291
Value of interest in pooled separate accounts at beginning of year	2010-12-31	$1,355,565
Interest on participant loans	2010-12-31	$442
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2010-12-31	$46,107
Net investment gain/loss from pooled separate accounts	2010-12-31	$147,935
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
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2010-12-31	$343,198
Contract administrator fees	2010-12-31	$11,366
Assets. Corporate common stocks other than exployer securities at end of year	2010-12-31	$90,165
Assets. Corporate common stocks other than exployer securities at beginning of year	2010-12-31	$215,638
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	Yes
Opinion of an independent qualified public accountant for this plan	2010-12-31	Disclaimer
Accountancy firm name	2010-12-31	TURLINGTON AND COMPANY, LLP
Accountancy firm EIN	2010-12-31	560817345
2009 : BANK OF THE CAROLINAS 401K PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2009-12-31	$0

Form 5500 Responses for BANK OF THE CAROLINAS 401K PLAN

2015: BANK OF THE CAROLINAS 401K PLAN 2015 form 5500 responses
2015-01-01	Type of plan entity	Single employer plan
2015-01-01	Submission has been amended	No
2015-01-01	This submission is the final filing	Yes
2015-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2015-01-01	Plan is a collectively bargained plan	No
2015-01-01	Plan funding arrangement – Insurance	Yes
2015-01-01	Plan funding arrangement – Trust	Yes
2015-01-01	Plan benefit arrangement – Insurance	Yes
2015-01-01	Plan benefit arrangement - Trust	Yes
2014: BANK OF THE CAROLINAS 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
2014-01-01	Plan benefit arrangement - Trust	Yes
2013: BANK OF THE CAROLINAS 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
2013-01-01	Plan benefit arrangement - Trust	Yes
2012: BANK OF THE CAROLINAS 401K PLAN 2012 form 5500 responses
2012-01-01	Type of plan entity	Single employer plan
2012-01-01	Submission has been amended	No
2012-01-01	This submission is the final filing	No
2012-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2012-01-01	Plan is a collectively bargained plan	No
2012-01-01	Plan funding arrangement – Insurance	Yes
2012-01-01	Plan funding arrangement – Trust	Yes
2012-01-01	Plan benefit arrangement – Insurance	Yes
2012-01-01	Plan benefit arrangement - Trust	Yes
2011: BANK OF THE CAROLINAS 401K PLAN 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 – Insurance	Yes
2011-01-01	Plan funding arrangement – Trust	Yes
2011-01-01	Plan benefit arrangement – Insurance	Yes
2011-01-01	Plan benefit arrangement - Trust	Yes
2010: BANK OF THE CAROLINAS 401K PLAN 2010 form 5500 responses
2010-01-01	Type of plan entity	Single employer plan
2010-01-01	Submission has been amended	No
2010-01-01	This submission is the final filing	No
2010-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2010-01-01	Plan is a collectively bargained plan	No
2010-01-01	Plan funding arrangement – Insurance	Yes
2010-01-01	Plan funding arrangement – Trust	Yes
2010-01-01	Plan benefit arrangement – Insurance	Yes
2010-01-01	Plan benefit arrangement - Trust	Yes
2009: BANK OF THE CAROLINAS 401K PLAN 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 – Insurance	Yes
2009-01-01	Plan funding arrangement – Trust	Yes
2009-01-01	Plan benefit arrangement – Insurance	Yes
2009-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

71655

Policy instance

Insurance contract or identification number	71655
Number of Individuals Covered	0
Insurance policy start date	2015-01-01
Insurance policy end date	2015-12-31
Total amount of commissions paid to insurance broker	USD $1,965
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 $1,965
Insurance broker organization code?	3
Insurance broker name	VOYA FINANCIAL ADVISORS INC

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

71655

Policy instance

Insurance contract or identification number	71655
Number of Individuals Covered	77
Insurance policy start date	2014-01-01
Insurance policy end date	2014-12-31
Total amount of commissions paid to insurance broker	USD $2,530
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 $2,530
Insurance broker organization code?	3
Insurance broker name	VOYA FINANCIAL ADVISORS INC

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

71655

Policy instance

Insurance contract or identification number	71655
Number of Individuals Covered	80
Insurance policy start date	2013-01-01
Insurance policy end date	2013-12-31
Total amount of commissions paid to insurance broker	USD $2,587
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 $2,587
Insurance broker organization code?	3
Insurance broker name	ING FINANCIAL PARTNERS, INC.

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

71655

Policy instance

Insurance contract or identification number	71655
Number of Individuals Covered	78
Insurance policy start date	2012-01-01
Insurance policy end date	2012-12-31
Total amount of commissions paid to insurance broker	USD $2,435
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 $2,435
Insurance broker organization code?	3
Insurance broker name	ING FINANCIAL PARTNERS, INC.

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

71655

Policy instance

Insurance contract or identification number	71655
Number of Individuals Covered	87
Insurance policy start date	2011-01-01
Insurance policy end date	2011-12-31
Total amount of commissions paid to insurance broker	USD $2,671
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

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

71655

Policy instance

Insurance contract or identification number	71655
Number of Individuals Covered	87
Insurance policy start date	2010-01-01
Insurance policy end date	2010-12-31
Total amount of commissions paid to insurance broker	USD $2,841
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 $2,821
Amount paid for insurance broker fees	0
Additional information about fees paid to insurance broker	COMMISSION
Insurance broker organization code?	3
Insurance broker name	SEBS

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Company Name:	BANK OF THE CAROLINAS
Employer identification number (EIN):	522087602
NAIC Classification:	522110
NAIC Description:	Commercial Banking

Jurisdiction of Incorporation:	North Carolina Secretary of State
Incorporation Date:
Company Identification Number:	0324215