401k Plan data: BANK OF OAK RIDGE 401(K) PLAN plan

BANK OF OAK RIDGE 401(K) PLAN 401k Plan overview

Plan Name	BANK OF OAK RIDGE 401(K) PLAN
Plan identification number	001

BANK OF OAK RIDGE 401(K) PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

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

401k Sponsoring company profile

BANK OF OAK RIDGE has sponsored the creation of one or more 401k plans.

Company Name: BANK OF OAK RIDGE

Employer identification number (EIN): 562149229

NAIC Classification: 522110
NAIC Description: Commercial Banking

Additional information about BANK OF OAK RIDGE

Jurisdiction of Incorporation: North Carolina Secretary of State

Incorporation Date:

Company Identification Number: 0543619

More information about BANK OF OAK RIDGE

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF OAK RIDGE 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2023-01-01
001 2022-01-01
001 2021-01-01
001 2020-01-01 MARISSA PARRISH 2021-10-05
001 2019-01-01 MARISSA PARRISH 2020-10-13
001 2018-01-01 MARISSA PARRISH 2019-08-22
001 2017-01-01 MARISSA PARRISH 2018-06-11
001 2016-01-01 MARISSA PARRISH 2017-05-18
001 2015-01-01 MARISSA PARRISH 2016-04-27
001 2014-01-01 MARISSA PARRISH 2015-05-05
001 2013-01-01 MARISSA PARRISH
001 2012-01-01 MARISSA PARRISH
001 2011-01-01 MARISSA PARRISH 2012-04-16
001 2010-01-01 WANDA LADD 2011-10-11
001 2009-01-01
001 2009-01-01 JESSICA HOUSER
001 2009-01-01 WANDA LADD

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2023-01-01
001	2022-01-01
001	2021-01-01
001	2020-01-01	MARISSA PARRISH	2021-10-05
001	2019-01-01	MARISSA PARRISH	2020-10-13
001	2018-01-01	MARISSA PARRISH	2019-08-22
001	2017-01-01	MARISSA PARRISH	2018-06-11
001	2016-01-01	MARISSA PARRISH	2017-05-18
001	2015-01-01	MARISSA PARRISH	2016-04-27
001	2014-01-01	MARISSA PARRISH	2015-05-05
001	2013-01-01	MARISSA PARRISH
001	2012-01-01	MARISSA PARRISH
001	2011-01-01	MARISSA PARRISH	2012-04-16
001	2010-01-01	WANDA LADD	2011-10-11
001	2009-01-01
001	2009-01-01	JESSICA HOUSER
001	2009-01-01	WANDA LADD

Plan Statistics for BANK OF OAK RIDGE 401(K) PLAN

401k plan membership statisitcs for BANK OF OAK RIDGE 401(K) PLAN

Measure Date Value
2013: BANK OF OAK RIDGE 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year 2013-01-01 113
Total number of active participants reported on line 7a of the Form 5500 2013-01-01 65
Number of other retired or separated participants entitled to future benefits 2013-01-01 25
Total of all active and inactive participants 2013-01-01 90
Total participants 2013-01-01 90
Number of participants with account balances 2013-01-01 90
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2013-01-01 0
2012: BANK OF OAK RIDGE 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year 2012-01-01 122
Total number of active participants reported on line 7a of the Form 5500 2012-01-01 86
Number of other retired or separated participants entitled to future benefits 2012-01-01 23
Total of all active and inactive participants 2012-01-01 109
Total participants 2012-01-01 109
Number of participants with account balances 2012-01-01 108
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2012-01-01 9
2009: BANK OF OAK RIDGE 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year 2009-01-01 76
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 85
Number of retired or separated participants receiving benefits 2009-01-01 0
Number of other retired or separated participants entitled to future benefits 2009-01-01 9
Total of all active and inactive participants 2009-01-01 94
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 0
Total participants 2009-01-01 94
Number of participants with account balances 2009-01-01 89
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 0

Measure	Date	Value
2013: BANK OF OAK RIDGE 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year	2013-01-01	113
Total number of active participants reported on line 7a of the Form 5500	2013-01-01	65
Number of other retired or separated participants entitled to future benefits	2013-01-01	25
Total of all active and inactive participants	2013-01-01	90
Total participants	2013-01-01	90
Number of participants with account balances	2013-01-01	90
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2013-01-01	0
2012: BANK OF OAK RIDGE 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year	2012-01-01	122
Total number of active participants reported on line 7a of the Form 5500	2012-01-01	86
Number of other retired or separated participants entitled to future benefits	2012-01-01	23
Total of all active and inactive participants	2012-01-01	109
Total participants	2012-01-01	109
Number of participants with account balances	2012-01-01	108
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2012-01-01	9
2009: BANK OF OAK RIDGE 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year	2009-01-01	76
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	85
Number of retired or separated participants receiving benefits	2009-01-01	0
Number of other retired or separated participants entitled to future benefits	2009-01-01	9
Total of all active and inactive participants	2009-01-01	94
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	0
Total participants	2009-01-01	94
Number of participants with account balances	2009-01-01	89
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	0

Financial Data on BANK OF OAK RIDGE 401(K) PLAN

Measure	Date	Value
2013 : BANK OF OAK RIDGE 401(K) PLAN 2013 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2013-12-31	$531
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2013-12-31	$514
Total income from all sources (including contributions)	2013-12-31	$779,712
Total of all expenses incurred	2013-12-31	$524,846
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2013-12-31	$501,025
Expenses. Certain deemed distributions of participant loans	2013-12-31	$20,183
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2013-12-31	$420,206
Value of total assets at end of year	2013-12-31	$2,668,198
Value of total assets at beginning of year	2013-12-31	$2,413,315
Total of administrative expenses incurred including professional, contract, advisory and management fees	2013-12-31	$3,638
Total interest from all sources	2013-12-31	$114,360
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2013-12-31	No
Was this plan covered by a fidelity bond	2013-12-31	Yes
Value of fidelity bond cover	2013-12-31	$3,000,000
If this is an individual account plan, was there a blackout period	2013-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2013-12-31	No
Contributions received from participants	2013-12-31	$243,012
Participant contributions at end of year	2013-12-31	$117,546
Participant contributions at beginning of year	2013-12-31	$70,470
Participant contributions at end of year	2013-12-31	$8,247
Participant contributions at beginning of year	2013-12-31	$9,227
Income. Received or receivable in cash from other sources (including rollovers)	2013-12-31	$9,164
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2013-12-31	$531
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2013-12-31	$514
Administrative expenses (other) incurred	2013-12-31	$3,638
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2013-12-31	No
Value of net income/loss	2013-12-31	$254,866
Value of net assets at end of year (total assets less liabilities)	2013-12-31	$2,667,667
Value of net assets at beginning of year (total assets less liabilities)	2013-12-31	$2,412,801
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2013-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2013-12-31	No
Were any leases to which the plan was party in default or uncollectible	2013-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2013-12-31	$2,537,180
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2013-12-31	$2,326,923
Interest on participant loans	2013-12-31	$2,980
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2013-12-31	$111,380
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2013-12-31	$245,146
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2013-12-31	No
Was there a failure to transmit to the plan any participant contributions	2013-12-31	No
Has the plan failed to provide any benefit when due under the plan	2013-12-31	No
Contributions received in cash from employer	2013-12-31	$168,030
Employer contributions (assets) at end of year	2013-12-31	$5,225
Employer contributions (assets) at beginning of year	2013-12-31	$6,695
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2013-12-31	$501,025
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2013-12-31	No
Did the plan have assets held for investment	2013-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2013-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2013-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2013-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2013-12-31	Disclaimer
Accountancy firm name	2013-12-31	CRAVEN, SHELTON & GANN, P.A.
Accountancy firm EIN	2013-12-31	561684013
2012 : BANK OF OAK RIDGE 401(K) PLAN 2012 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2012-12-31	$514
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2012-12-31	$9,666
Total income from all sources (including contributions)	2012-12-31	$760,548
Total of all expenses incurred	2012-12-31	$377,705
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2012-12-31	$356,643
Expenses. Certain deemed distributions of participant loans	2012-12-31	$17,409
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2012-12-31	$503,998
Value of total assets at end of year	2012-12-31	$2,413,315
Value of total assets at beginning of year	2012-12-31	$2,039,624
Total of administrative expenses incurred including professional, contract, advisory and management fees	2012-12-31	$3,653
Total interest from all sources	2012-12-31	$77,908
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2012-12-31	No
Was this plan covered by a fidelity bond	2012-12-31	Yes
Value of fidelity bond cover	2012-12-31	$3,000,000
If this is an individual account plan, was there a blackout period	2012-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2012-12-31	No
Contributions received from participants	2012-12-31	$271,903
Participant contributions at end of year	2012-12-31	$70,470
Participant contributions at beginning of year	2012-12-31	$37,478
Participant contributions at end of year	2012-12-31	$9,227
Income. Received or receivable in cash from other sources (including rollovers)	2012-12-31	$62,920
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2012-12-31	$514
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2012-12-31	$9,666
Administrative expenses (other) incurred	2012-12-31	$3,653
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2012-12-31	No
Value of net income/loss	2012-12-31	$382,843
Value of net assets at end of year (total assets less liabilities)	2012-12-31	$2,412,801
Value of net assets at beginning of year (total assets less liabilities)	2012-12-31	$2,029,958
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2012-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2012-12-31	No
Were any leases to which the plan was party in default or uncollectible	2012-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2012-12-31	$2,326,923
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2012-12-31	$2,001,657
Interest on participant loans	2012-12-31	$2,676
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2012-12-31	$75,232
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2012-12-31	$178,642
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2012-12-31	No
Was there a failure to transmit to the plan any participant contributions	2012-12-31	No
Has the plan failed to provide any benefit when due under the plan	2012-12-31	No
Contributions received in cash from employer	2012-12-31	$169,175
Employer contributions (assets) at end of year	2012-12-31	$6,695
Employer contributions (assets) at beginning of year	2012-12-31	$489
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2012-12-31	$356,643
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2012-12-31	No
Did the plan have assets held for investment	2012-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2012-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2012-12-31	No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2012-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2012-12-31	Disclaimer
Accountancy firm name	2012-12-31	CRAVEN, SHELTON & GANN, P.A.
Accountancy firm EIN	2012-12-31	561684013

Form 5500 Responses for BANK OF OAK RIDGE 401(K) PLAN

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

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Company Name:	BANK OF OAK RIDGE
Employer identification number (EIN):	562149229
NAIC Classification:	522110
NAIC Description:	Commercial Banking

Jurisdiction of Incorporation:	North Carolina Secretary of State
Incorporation Date:
Company Identification Number:	0543619