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VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 401k Plan overview

Plan NameVBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC.
Plan identification number 001

VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

SUMMIT FINANCIAL GROUP, INC. has sponsored the creation of one or more 401k plans.

Company Name:SUMMIT FINANCIAL GROUP, INC.
Employer identification number (EIN):550672148
NAIC Classification:551111
NAIC Description:Offices of Bank Holding Companies

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01BOBBI WEIMER DANYL FREEMAN2018-07-27
0012016-01-01LAURIE MILLIGAN DANYL FREEMAN2017-08-25
0012015-01-01LAURIE MILLIGAN DANYL R FREEMAN2016-07-27
0012014-01-01BETTE J. ALBERT DANYL R. FREEMAN2015-09-23
0012013-01-01BETTE J. ALBERT DANYL R. FREEMAN2014-10-01
0012012-01-01BETTE J. ALBERT DANYL R. FREEMAN2013-07-29
0012011-01-01BETTE J. ALBERT DANYL R. FREEMAN2012-07-30
0012010-01-01BETTE J. ALBERT DANYL R. FREEMAN2011-07-21
0012009-01-01BETTE J. ALBERT DANYL R. FREEMAN2010-10-01

Plan Statistics for VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC.

401k plan membership statisitcs for VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC.

Measure Date Value
2023: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2023 401k membership
Total participants, beginning-of-year2023-01-01533
Total number of active participants reported on line 7a of the Form 55002023-01-01487
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-01126
Total of all active and inactive participants2023-01-01613
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-01613
Number of participants with account balances2023-01-01584
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2022 401k membership
Total participants, beginning-of-year2022-01-01515
Total number of active participants reported on line 7a of the Form 55002022-01-01421
Number of other retired or separated participants entitled to future benefits2022-01-0196
Total of all active and inactive participants2022-01-01517
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01517
Number of participants with account balances2022-01-01499
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2021 401k membership
Total participants, beginning-of-year2021-01-01516
Total number of active participants reported on line 7a of the Form 55002021-01-01425
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0186
Total of all active and inactive participants2021-01-01511
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01511
Number of participants with account balances2021-01-01496
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2020 401k membership
Total participants, beginning-of-year2020-01-01482
Total number of active participants reported on line 7a of the Form 55002020-01-01409
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0172
Total of all active and inactive participants2020-01-01481
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01481
Number of participants with account balances2020-01-01464
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2019 401k membership
Total participants, beginning-of-year2019-01-01452
Total number of active participants reported on line 7a of the Form 55002019-01-01355
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0171
Total of all active and inactive participants2019-01-01426
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01426
Number of participants with account balances2019-01-01407
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2018 401k membership
Total participants, beginning-of-year2018-01-01315
Total number of active participants reported on line 7a of the Form 55002018-01-01259
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0145
Total of all active and inactive participants2018-01-01304
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01304
Number of participants with account balances2018-01-01289
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-0115
2017: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2017 401k membership
Total participants, beginning-of-year2017-01-01298
Total number of active participants reported on line 7a of the Form 55002017-01-01242
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-0152
Total of all active and inactive participants2017-01-01294
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01294
Number of participants with account balances2017-01-01278
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-017
2016: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2016 401k membership
Total participants, beginning-of-year2016-01-01258
Total number of active participants reported on line 7a of the Form 55002016-01-01232
Number of other retired or separated participants entitled to future benefits2016-01-0154
Total of all active and inactive participants2016-01-01286
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01286
Number of participants with account balances2016-01-01265
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-016
2015: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2015 401k membership
Total participants, beginning-of-year2015-01-01260
Total number of active participants reported on line 7a of the Form 55002015-01-01215
Number of retired or separated participants receiving benefits2015-01-012
Number of other retired or separated participants entitled to future benefits2015-01-0135
Total of all active and inactive participants2015-01-01252
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01252
Number of participants with account balances2015-01-01240
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-019
2014: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2014 401k membership
Total participants, beginning-of-year2014-01-01274
Total number of active participants reported on line 7a of the Form 55002014-01-01201
Number of retired or separated participants receiving benefits2014-01-011
Number of other retired or separated participants entitled to future benefits2014-01-0141
Total of all active and inactive participants2014-01-01243
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01243
Number of participants with account balances2014-01-01239
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-0110
2013: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2013 401k membership
Total participants, beginning-of-year2013-01-01271
Total number of active participants reported on line 7a of the Form 55002013-01-01221
Number of retired or separated participants receiving benefits2013-01-017
Number of other retired or separated participants entitled to future benefits2013-01-0137
Total of all active and inactive participants2013-01-01265
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01265
Number of participants with account balances2013-01-01254
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-0114
2012: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2012 401k membership
Total participants, beginning-of-year2012-01-01322
Total number of active participants reported on line 7a of the Form 55002012-01-01221
Number of retired or separated participants receiving benefits2012-01-013
Number of other retired or separated participants entitled to future benefits2012-01-0133
Total of all active and inactive participants2012-01-01257
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-01257
Number of participants with account balances2012-01-01247
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-0113
2011: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2011 401k membership
Total participants, beginning-of-year2011-01-01318
Total number of active participants reported on line 7a of the Form 55002011-01-01256
Number of retired or separated participants receiving benefits2011-01-014
Number of other retired or separated participants entitled to future benefits2011-01-0147
Total of all active and inactive participants2011-01-01307
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-01307
Number of participants with account balances2011-01-01267
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-0114
2010: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2010 401k membership
Total participants, beginning-of-year2010-01-01347
Total number of active participants reported on line 7a of the Form 55002010-01-01260
Number of retired or separated participants receiving benefits2010-01-012
Number of other retired or separated participants entitled to future benefits2010-01-0146
Total of all active and inactive participants2010-01-01308
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01308
Number of participants with account balances2010-01-01262
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-0111
2009: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2009 401k membership
Total participants, beginning-of-year2009-01-01301
Total number of active participants reported on line 7a of the Form 55002009-01-01217
Number of retired or separated participants receiving benefits2009-01-0111
Number of other retired or separated participants entitled to future benefits2009-01-0164
Total of all active and inactive participants2009-01-01292
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01292
Number of participants with account balances2009-01-01288
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-0112

Financial Data on VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC.

Measure Date Value
2023 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2023 401k financial data
Total income from all sources (including contributions)2023-12-31$10,074,226
Total of all expenses incurred2023-12-31$3,613,751
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$3,528,674
Expenses. Certain deemed distributions of participant loans2023-12-31$5,598
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$4,085,129
Value of total assets at end of year2023-12-31$42,967,066
Value of total assets at beginning of year2023-12-31$36,506,591
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$79,479
Total interest from all sources2023-12-31$265,797
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$1,424,158
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$1,424,158
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$3,000,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$1,954,217
Participant contributions at end of year2023-12-31$238,171
Participant contributions at beginning of year2023-12-31$152,616
Participant contributions at beginning of year2023-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$1,157,453
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$6,460,475
Value of net assets at end of year (total assets less liabilities)2023-12-31$42,967,066
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$36,506,591
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$35,493,139
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$28,440,711
Interest on participant loans2023-12-31$13,252
Interest earned on other investments2023-12-31$0
Value of interest in common/collective trusts at end of year2023-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2023-12-31$1,758
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2023-12-31$7,588
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2023-12-31$7,588
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2023-12-31$252,545
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-12-31$7,226,026
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2023-12-31$7,895,385
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$4,299,142
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31No
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$973,459
Employer contributions (assets) at end of year2023-12-31$7,972
Employer contributions (assets) at beginning of year2023-12-31$10,291
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$3,528,674
Contract administrator fees2023-12-31$79,479
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31BAKER TILLY US LLP
Accountancy firm EIN2023-12-31390859910
2022 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2022 401k financial data
Total income from all sources (including contributions)2022-12-31$-1,413,338
Total of all expenses incurred2022-12-31$2,513,595
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$2,380,201
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$2,762,750
Value of total assets at end of year2022-12-31$36,506,591
Value of total assets at beginning of year2022-12-31$40,433,524
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$133,394
Total interest from all sources2022-12-31$193,888
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$2,769,171
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$2,769,171
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$3,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$1,648,146
Participant contributions at end of year2022-12-31$152,616
Participant contributions at beginning of year2022-12-31$153,490
Participant contributions at end of year2022-12-31$0
Participant contributions at beginning of year2022-12-31$60,825
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$286,394
Administrative expenses (other) incurred2022-12-31$133,394
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-3,926,933
Value of net assets at end of year (total assets less liabilities)2022-12-31$36,506,591
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$40,433,524
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$28,440,711
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$32,543,398
Interest on participant loans2022-12-31$7,964
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$7,588
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$20,290
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$20,290
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$185,924
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$7,895,385
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$7,615,152
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-7,139,147
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$828,210
Employer contributions (assets) at end of year2022-12-31$10,291
Employer contributions (assets) at beginning of year2022-12-31$40,369
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$2,380,201
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31BAKER TILLY US LLP
Accountancy firm EIN2022-12-31390859910
2021 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2021 401k financial data
Total income from all sources (including contributions)2021-12-31$6,067,877
Total of all expenses incurred2021-12-31$3,215,136
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$3,114,066
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$2,976,641
Value of total assets at end of year2021-12-31$40,433,524
Value of total assets at beginning of year2021-12-31$37,580,783
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$101,070
Total interest from all sources2021-12-31$192,178
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$1,451,728
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$1,451,728
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$3,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$1,582,024
Participant contributions at end of year2021-12-31$153,490
Participant contributions at beginning of year2021-12-31$113,859
Participant contributions at end of year2021-12-31$60,825
Participant contributions at beginning of year2021-12-31$54,946
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$595,072
Administrative expenses (other) incurred2021-12-31$101,070
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$2,852,741
Value of net assets at end of year (total assets less liabilities)2021-12-31$40,433,524
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$37,580,783
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$32,543,398
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$30,528,046
Interest on participant loans2021-12-31$6,870
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$20,290
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$20,061
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$20,061
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2021-12-31$185,308
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$7,615,152
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$6,835,213
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$1,447,330
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$799,545
Employer contributions (assets) at end of year2021-12-31$40,369
Employer contributions (assets) at beginning of year2021-12-31$28,658
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$3,114,066
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31BAKER TILLY US LLP
Accountancy firm EIN2021-12-31390859910
2020 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2020 401k financial data
Total income from all sources (including contributions)2020-12-31$6,714,578
Total of all expenses incurred2020-12-31$1,441,539
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$1,358,617
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$2,294,468
Value of total assets at end of year2020-12-31$37,580,783
Value of total assets at beginning of year2020-12-31$32,307,744
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$82,922
Total interest from all sources2020-12-31$183,569
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$1,132,931
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$1,132,931
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$3,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$1,347,390
Participant contributions at end of year2020-12-31$113,859
Participant contributions at beginning of year2020-12-31$108,523
Participant contributions at end of year2020-12-31$54,946
Participant contributions at beginning of year2020-12-31$45,946
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$267,105
Administrative expenses (other) incurred2020-12-31$82,922
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$5,273,039
Value of net assets at end of year (total assets less liabilities)2020-12-31$37,580,783
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$32,307,744
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$30,528,046
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$28,710,458
Interest on participant loans2020-12-31$6,506
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2020-12-31$20,061
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-12-31$20,325
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-12-31$20,325
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2020-12-31$177,063
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-12-31$6,835,213
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-12-31$3,399,927
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$3,103,610
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$679,973
Employer contributions (assets) at end of year2020-12-31$28,658
Employer contributions (assets) at beginning of year2020-12-31$22,565
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$1,358,617
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Unqualified
Accountancy firm name2020-12-31ARNETT CARBIS TOOTHMAN LLP
Accountancy firm EIN2020-12-31550486667
2019 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2019 401k financial data
Total income from all sources (including contributions)2019-12-31$8,928,556
Total of all expenses incurred2019-12-31$2,076,650
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$1,969,566
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$3,061,321
Value of total assets at end of year2019-12-31$32,307,744
Value of total assets at beginning of year2019-12-31$25,455,838
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$107,084
Total interest from all sources2019-12-31$118,623
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$2,183,064
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2019-12-31$2,183,064
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$3,000,000
If this is an individual account plan, was there a blackout period2019-12-31No
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$1,183,563
Participant contributions at end of year2019-12-31$108,523
Participant contributions at beginning of year2019-12-31$139,255
Participant contributions at end of year2019-12-31$45,946
Participant contributions at beginning of year2019-12-31$28,531
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$1,259,385
Administrative expenses (other) incurred2019-12-31$107,084
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$6,851,906
Value of net assets at end of year (total assets less liabilities)2019-12-31$32,307,744
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$25,455,838
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$28,710,458
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$23,015,205
Interest on participant loans2019-12-31$4,773
Value of interest in common/collective trusts at beginning of year2019-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-12-31$20,325
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$31,342
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$31,342
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2019-12-31$113,850
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2019-12-31$3,399,927
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2019-12-31$2,229,809
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$3,565,548
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$618,373
Employer contributions (assets) at end of year2019-12-31$22,565
Employer contributions (assets) at beginning of year2019-12-31$11,696
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$1,969,566
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31ARNETT CARBIS TOOTHMAN LLP
Accountancy firm EIN2019-12-31550486667
2018 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2018 401k financial data
Total transfer of assets to this plan2018-12-31$8,549,390
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$452,370
Total income from all sources (including contributions)2018-12-31$732,920
Total of all expenses incurred2018-12-31$1,855,277
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$1,727,989
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$1,945,231
Value of total assets at end of year2018-12-31$25,455,838
Value of total assets at beginning of year2018-12-31$18,481,175
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$127,288
Total interest from all sources2018-12-31$30,252
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$696,366
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2018-12-31$696,366
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$2,000,000
If this is an individual account plan, was there a blackout period2018-12-31No
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Contributions received from participants2018-12-31$863,234
Participant contributions at end of year2018-12-31$139,255
Participant contributions at beginning of year2018-12-31$38,955
Participant contributions at end of year2018-12-31$28,531
Income. Received or receivable in cash from other sources (including rollovers)2018-12-31$617,082
Administrative expenses (other) incurred2018-12-31$127,288
Liabilities. Value of operating payables at beginning of year2018-12-31$452,370
Total non interest bearing cash at beginning of year2018-12-31$452,370
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-1,122,357
Value of net assets at end of year (total assets less liabilities)2018-12-31$25,455,838
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$18,028,805
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2018-12-31$23,015,205
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2018-12-31$12,255,073
Interest on participant loans2018-12-31$1,571
Value of interest in common/collective trusts at end of year2018-12-31$0
Value of interest in common/collective trusts at beginning of year2018-12-31$5,734,777
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2018-12-31$31,342
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2018-12-31$28,681
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2018-12-31$2,229,809
Net investment gain/loss from registered investment companies (e.g. mutual funds)2018-12-31$-1,938,929
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Contributions received in cash from employer2018-12-31$464,915
Employer contributions (assets) at end of year2018-12-31$11,696
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$1,727,989
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31Yes
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31ARNETT CARBIS TOOTHMAN LLP
Accountancy firm EIN2018-12-31550486667
2017 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2017 401k financial data
Total unrealized appreciation/depreciation of assets2017-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$452,370
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$161,965
Total income from all sources (including contributions)2017-12-31$3,901,177
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$709,594
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$682,899
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$1,549,470
Value of total assets at end of year2017-12-31$18,481,175
Value of total assets at beginning of year2017-12-31$14,999,187
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$26,695
Total interest from all sources2017-12-31$1,595
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$738,796
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2017-12-31$738,796
Administrative expenses professional fees incurred2017-12-31$9,088
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$2,000,000
If this is an individual account plan, was there a blackout period2017-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Contributions received from participants2017-12-31$807,956
Participant contributions at end of year2017-12-31$38,955
Participant contributions at beginning of year2017-12-31$46,690
Income. Received or receivable in cash from other sources (including rollovers)2017-12-31$305,136
Administrative expenses (other) incurred2017-12-31$11
Liabilities. Value of operating payables at end of year2017-12-31$452,370
Liabilities. Value of operating payables at beginning of year2017-12-31$161,965
Total non interest bearing cash at end of year2017-12-31$452,370
Total non interest bearing cash at beginning of year2017-12-31$161,965
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$3,191,583
Value of net assets at end of year (total assets less liabilities)2017-12-31$18,028,805
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$14,837,222
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Investment advisory and management fees2017-12-31$17,596
Value of interest in registered invesment companies (eg mutual funds) at end of year2017-12-31$12,255,073
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2017-12-31$10,742,462
Interest on participant loans2017-12-31$1,595
Value of interest in common/collective trusts at end of year2017-12-31$5,734,777
Value of interest in common/collective trusts at beginning of year2017-12-31$4,048,070
Net investment gain/loss from registered investment companies (e.g. mutual funds)2017-12-31$1,247,587
Net investment gain or loss from common/collective trusts2017-12-31$363,729
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Contributions received in cash from employer2017-12-31$436,378
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$682,899
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31ARNETT CARBIS TOOTHMAN, LLP
Accountancy firm EIN2017-12-31550486667
2016 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2016 401k financial data
Total unrealized appreciation/depreciation of assets2016-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$161,965
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$98,181
Total income from all sources (including contributions)2016-12-31$1,952,255
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$1,230,734
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$1,206,668
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$1,117,486
Value of total assets at end of year2016-12-31$14,999,187
Value of total assets at beginning of year2016-12-31$14,213,882
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$24,066
Total interest from all sources2016-12-31$604
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$350,659
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2016-12-31$350,659
Administrative expenses professional fees incurred2016-12-31$16,125
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$2,000,000
If this is an individual account plan, was there a blackout period2016-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Contributions received from participants2016-12-31$728,309
Participant contributions at end of year2016-12-31$46,690
Participant contributions at beginning of year2016-12-31$93,906
Participant contributions at beginning of year2016-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$0
Liabilities. Value of operating payables at end of year2016-12-31$161,965
Liabilities. Value of operating payables at beginning of year2016-12-31$98,181
Total non interest bearing cash at end of year2016-12-31$161,965
Total non interest bearing cash at beginning of year2016-12-31$98,406
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$721,521
Value of net assets at end of year (total assets less liabilities)2016-12-31$14,837,222
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$14,115,701
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Investment advisory and management fees2016-12-31$7,891
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-12-31$10,742,462
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$10,253,523
Interest on participant loans2016-12-31$604
Value of interest in common/collective trusts at end of year2016-12-31$4,048,070
Value of interest in common/collective trusts at beginning of year2016-12-31$3,768,047
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$410,756
Net investment gain or loss from common/collective trusts2016-12-31$72,750
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Contributions received in cash from employer2016-12-31$389,177
Employer contributions (assets) at beginning of year2016-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$1,206,668
Contract administrator fees2016-12-31$50
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32016-12-31Yes
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31ARNETT CARBIS TOOTHMAN, LLP
Accountancy firm EIN2016-12-31550486667
2015 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2015 401k financial data
Total unrealized appreciation/depreciation of assets2015-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$98,181
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$8,097
Total income from all sources (including contributions)2015-12-31$958,323
Total loss/gain on sale of assets2015-12-31$0
Total of all expenses incurred2015-12-31$627,851
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$597,872
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$1,017,480
Value of total assets at end of year2015-12-31$14,213,882
Value of total assets at beginning of year2015-12-31$13,793,326
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$29,979
Total interest from all sources2015-12-31$4,668
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$581,878
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2015-12-31$581,878
Administrative expenses professional fees incurred2015-12-31$15,921
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$2,000,000
If this is an individual account plan, was there a blackout period2015-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Contributions received from participants2015-12-31$657,298
Participant contributions at end of year2015-12-31$93,906
Participant contributions at beginning of year2015-12-31$151,049
Participant contributions at end of year2015-12-31$0
Participant contributions at beginning of year2015-12-31$20,275
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$54
Value of other receiveables (less allowance for doubtful accounts) at end of year2015-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2015-12-31$359
Liabilities. Value of operating payables at end of year2015-12-31$98,181
Liabilities. Value of operating payables at beginning of year2015-12-31$8,097
Total non interest bearing cash at end of year2015-12-31$98,406
Total non interest bearing cash at beginning of year2015-12-31$9,332
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$330,472
Value of net assets at end of year (total assets less liabilities)2015-12-31$14,115,701
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$13,785,229
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Investment advisory and management fees2015-12-31$14,038
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$10,253,523
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$11,347,365
Interest on participant loans2015-12-31$4,668
Value of interest in common/collective trusts at end of year2015-12-31$3,768,047
Value of interest in common/collective trusts at beginning of year2015-12-31$2,252,271
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-645,168
Net investment gain or loss from common/collective trusts2015-12-31$-535
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$360,128
Employer contributions (assets) at end of year2015-12-31$0
Employer contributions (assets) at beginning of year2015-12-31$12,675
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$597,872
Contract administrator fees2015-12-31$20
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31Yes
Opinion of an independent qualified public accountant for this plan2015-12-31Disclaimer
Accountancy firm name2015-12-31ARNETT CARBIS TOOTHMAN, LLP
Accountancy firm EIN2015-12-31550486667
2014 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$8,097
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$39,878
Total income from all sources (including contributions)2014-12-31$1,593,486
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$1,172,479
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$1,143,634
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$998,155
Value of total assets at end of year2014-12-31$13,793,326
Value of total assets at beginning of year2014-12-31$13,404,100
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$28,845
Total interest from all sources2014-12-31$4,493
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$603,219
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2014-12-31$603,219
Administrative expenses professional fees incurred2014-12-31$8,735
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$2,000,000
If this is an individual account plan, was there a blackout period2014-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$602,754
Participant contributions at end of year2014-12-31$151,049
Participant contributions at beginning of year2014-12-31$144,036
Participant contributions at end of year2014-12-31$20,275
Participant contributions at beginning of year2014-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$46,630
Value of other receiveables (less allowance for doubtful accounts) at end of year2014-12-31$359
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2014-12-31$0
Other income not declared elsewhere2014-12-31$2,218
Liabilities. Value of operating payables at end of year2014-12-31$8,097
Liabilities. Value of operating payables at beginning of year2014-12-31$39,878
Total non interest bearing cash at end of year2014-12-31$9,332
Total non interest bearing cash at beginning of year2014-12-31$40,103
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$421,007
Value of net assets at end of year (total assets less liabilities)2014-12-31$13,785,229
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$13,364,222
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Investment advisory and management fees2014-12-31$13,374
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$11,347,365
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$10,567,874
Interest on participant loans2014-12-31$4,493
Value of interest in common/collective trusts at end of year2014-12-31$2,252,271
Value of interest in common/collective trusts at beginning of year2014-12-31$2,652,087
Net investment gain/loss from registered investment companies (e.g. mutual funds)2014-12-31$-80,367
Net investment gain or loss from common/collective trusts2014-12-31$65,768
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$348,771
Employer contributions (assets) at end of year2014-12-31$12,675
Employer contributions (assets) at beginning of year2014-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$1,143,634
Contract administrator fees2014-12-31$6,736
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31ARNETT CARBIS TOOTHMAN, LLP
Accountancy firm EIN2014-12-31550486667
2013 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$39,878
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$75,915
Total income from all sources (including contributions)2013-12-31$2,744,437
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$695,804
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$671,201
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$947,882
Value of total assets at end of year2013-12-31$13,404,100
Value of total assets at beginning of year2013-12-31$11,391,504
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$24,603
Total interest from all sources2013-12-31$5,682
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$275,842
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Administrative expenses professional fees incurred2013-12-31$8,000
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$2,000,000
If this is an individual account plan, was there a blackout period2013-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Contributions received from participants2013-12-31$605,984
Participant contributions at end of year2013-12-31$144,036
Participant contributions at beginning of year2013-12-31$186,558
Participant contributions at beginning of year2013-12-31$0
Liabilities. Value of operating payables at end of year2013-12-31$39,878
Liabilities. Value of operating payables at beginning of year2013-12-31$75,915
Total non interest bearing cash at end of year2013-12-31$40,103
Total non interest bearing cash at beginning of year2013-12-31$86,001
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$2,048,633
Value of net assets at end of year (total assets less liabilities)2013-12-31$13,364,222
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$11,315,589
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Investment advisory and management fees2013-12-31$10,738
Value of interest in registered invesment companies (eg mutual funds) at end of year2013-12-31$10,567,874
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2013-12-31$8,479,716
Income. Interest from loans (other than to participants)2013-12-31$5,682
Value of interest in common/collective trusts at end of year2013-12-31$2,652,087
Value of interest in common/collective trusts at beginning of year2013-12-31$2,639,229
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2013-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2013-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2013-12-31$1,606,614
Net investment gain or loss from common/collective trusts2013-12-31$-91,583
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Contributions received in cash from employer2013-12-31$341,898
Employer contributions (assets) at beginning of year2013-12-31$0
Income. Dividends from common stock2013-12-31$275,842
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$671,201
Contract administrator fees2013-12-31$5,865
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31Yes
Opinion of an independent qualified public accountant for this plan2013-12-31Disclaimer
Accountancy firm name2013-12-31ARNETT FOSTER TOOTHMAN, PLLC
Accountancy firm EIN2013-12-31550486667
2012 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2012 401k financial data
Total unrealized appreciation/depreciation of assets2012-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$75,915
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$2,234,764
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$300,030
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$273,567
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$992,401
Value of total assets at end of year2012-12-31$11,391,504
Value of total assets at beginning of year2012-12-31$9,380,855
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$26,463
Total interest from all sources2012-12-31$4,767
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$190,205
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2012-12-31$190,205
Administrative expenses professional fees incurred2012-12-31$13,008
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$2,000,000
If this is an individual account plan, was there a blackout period2012-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Contributions received from participants2012-12-31$571,227
Participant contributions at end of year2012-12-31$186,558
Participant contributions at beginning of year2012-12-31$87,078
Participant contributions at end of year2012-12-31$0
Participant contributions at beginning of year2012-12-31$19,132
Income. Received or receivable in cash from other sources (including rollovers)2012-12-31$91,932
Liabilities. Value of operating payables at end of year2012-12-31$75,915
Liabilities. Value of operating payables at beginning of year2012-12-31$0
Total non interest bearing cash at end of year2012-12-31$86,001
Total non interest bearing cash at beginning of year2012-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$1,934,734
Value of net assets at end of year (total assets less liabilities)2012-12-31$11,315,589
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$9,380,855
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Investment advisory and management fees2012-12-31$11,855
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$8,479,716
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$6,954,444
Interest on participant loans2012-12-31$4,767
Value of interest in common/collective trusts at end of year2012-12-31$2,639,229
Value of interest in common/collective trusts at beginning of year2012-12-31$2,308,124
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2012-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$734
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$734
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$905,889
Net investment gain or loss from common/collective trusts2012-12-31$141,502
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Contributions received in cash from employer2012-12-31$329,242
Employer contributions (assets) at end of year2012-12-31$0
Employer contributions (assets) at beginning of year2012-12-31$11,343
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$273,567
Contract administrator fees2012-12-31$1,600
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31ARNETT FOSTER TOOTHMAN, PLLC
Accountancy firm EIN2012-12-31550486667
2011 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-12-31$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$861,901
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$452,208
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$427,533
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$876,231
Value of total assets at end of year2011-12-31$9,380,855
Value of total assets at beginning of year2011-12-31$8,971,162
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$24,675
Total interest from all sources2011-12-31$4,055
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$113,945
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$113,945
Administrative expenses professional fees incurred2011-12-31$13,355
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$2,000,000
If this is an individual account plan, was there a blackout period2011-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Contributions received from participants2011-12-31$563,586
Participant contributions at end of year2011-12-31$87,078
Participant contributions at beginning of year2011-12-31$115,333
Participant contributions at end of year2011-12-31$19,132
Participant contributions at beginning of year2011-12-31$17,715
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$409,693
Value of net assets at end of year (total assets less liabilities)2011-12-31$9,380,855
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$8,971,162
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Investment advisory and management fees2011-12-31$11,320
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$6,954,444
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$8,039,845
Interest on participant loans2011-12-31$4,054
Value of interest in common/collective trusts at end of year2011-12-31$2,308,124
Value of interest in common/collective trusts at beginning of year2011-12-31$783,710
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$734
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$3,080
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$3,080
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$1
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$-270,478
Net investment gain or loss from common/collective trusts2011-12-31$138,148
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$312,645
Employer contributions (assets) at end of year2011-12-31$11,343
Employer contributions (assets) at beginning of year2011-12-31$11,479
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$427,533
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32011-12-31Yes
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31No
Opinion of an independent qualified public accountant for this plan2011-12-31Unqualified
Accountancy firm name2011-12-31ARNETT & FOSTER, PLLC
Accountancy firm EIN2011-12-31550486667
2010 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-12-31$0
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$1,926,549
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$581,744
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$554,180
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$866,015
Value of total assets at end of year2010-12-31$8,971,162
Value of total assets at beginning of year2010-12-31$7,626,357
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$27,564
Total interest from all sources2010-12-31$4,754
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$126,640
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2010-12-31$126,640
Administrative expenses professional fees incurred2010-12-31$14,237
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$6,000,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$544,409
Participant contributions at end of year2010-12-31$115,333
Participant contributions at beginning of year2010-12-31$48,692
Participant contributions at end of year2010-12-31$17,715
Participant contributions at beginning of year2010-12-31$17,901
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$1,344,805
Value of net assets at end of year (total assets less liabilities)2010-12-31$8,971,162
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$7,626,357
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Investment advisory and management fees2010-12-31$13,327
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$8,039,845
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-12-31$6,420,845
Interest on participant loans2010-12-31$4,745
Value of interest in common/collective trusts at end of year2010-12-31$783,710
Value of interest in common/collective trusts at beginning of year2010-12-31$1,124,591
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$3,080
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$3,679
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$3,679
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$9
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-12-31$852,161
Net investment gain or loss from common/collective trusts2010-12-31$76,979
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Contributions received in cash from employer2010-12-31$321,606
Employer contributions (assets) at end of year2010-12-31$11,479
Employer contributions (assets) at beginning of year2010-12-31$10,649
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$554,180
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31No
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31ARNETT & FOSTER, PLLC
Accountancy firm EIN2010-12-31550486667
2009 : VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC.

2023: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2022: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – InsuranceYes
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement – InsuranceYes
2020-01-01Plan benefit arrangement - TrustYes
2019: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes
2018: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – InsuranceYes
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement – InsuranceYes
2018-01-01Plan benefit arrangement - TrustYes
2017: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: VBA DEFINED CONTRIBUTION PLAN FOR SUMMIT FINANCIAL GROUP, INC. 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract number781255-01
Policy instance 1
Insurance contract or identification number781255-01
Number of Individuals Covered135
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract number781255-01
Policy instance 1
Insurance contract or identification number781255-01
Number of Individuals Covered499
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberMR 62918-1
Policy instance 1
Insurance contract or identification numberMR 62918-1
Number of Individuals Covered494
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberMR 62918-1
Policy instance 1
Insurance contract or identification numberMR 62918-1
Number of Individuals Covered450
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberMR 62918-1
Policy instance 1
Insurance contract or identification numberMR 62918-1
Number of Individuals Covered406
Insurance policy start date2019-01-01
Insurance policy end date2019-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 65935 )
Policy contract numberMR 62918-1
Policy instance 1
Insurance contract or identification numberMR 62918-1
Number of Individuals Covered388
Insurance policy start date2018-01-01
Insurance policy end date2018-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes

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