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THE PALMETTO BANK 401(K) RETIREMENT PLAN 401k Plan overview

Plan NameTHE PALMETTO BANK 401(K) RETIREMENT PLAN
Plan identification number 003

THE PALMETTO BANK 401(K) RETIREMENT PLAN 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.
  • 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

THE PALMETTO BANK PENSION PLAN has sponsored the creation of one or more 401k plans.

Company Name:THE PALMETTO BANK PENSION PLAN
Employer identification number (EIN):570221130
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE PALMETTO BANK 401(K) RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032017-01-01CATHERINE HAMBY2018-07-10
0032016-01-01CATHERINE HAMBY
0032015-01-01CATHERINE HAMBY
0032014-01-01LISA IRELAND
0032013-01-01LISA IRELAND SAMUEL ERWIN2014-08-22
0032012-01-01DARLENE COLE SAMUEL ERWIN2013-09-20
0032011-01-01TERESA W. KNIGHT SAMUEL ERWIN2012-10-15
0032010-01-01FILED WITH AUTHORIZED SIGNATURE
0032009-01-01TERESA W. KNIGHT SAMUEL L. ERWIN2010-10-08

Plan Statistics for THE PALMETTO BANK 401(K) RETIREMENT PLAN

401k plan membership statisitcs for THE PALMETTO BANK 401(K) RETIREMENT PLAN

Measure Date Value
2016: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01320
Total number of active participants reported on line 7a of the Form 55002016-01-010
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0190
Total of all active and inactive participants2016-01-0190
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0190
Number of participants with account balances2016-01-0190
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01363
Total number of active participants reported on line 7a of the Form 55002015-01-0155
Number of retired or separated participants receiving benefits2015-01-011
Number of other retired or separated participants entitled to future benefits2015-01-01264
Total of all active and inactive participants2015-01-01320
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01320
Number of participants with account balances2015-01-01314
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-0156
2014: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01377
Total number of active participants reported on line 7a of the Form 55002014-01-01295
Number of retired or separated participants receiving benefits2014-01-011
Number of other retired or separated participants entitled to future benefits2014-01-0167
Total of all active and inactive participants2014-01-01363
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01363
Number of participants with account balances2014-01-01324
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-019
2013: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01377
Total number of active participants reported on line 7a of the Form 55002013-01-01313
Number of retired or separated participants receiving benefits2013-01-011
Number of other retired or separated participants entitled to future benefits2013-01-0163
Total of all active and inactive participants2013-01-01377
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01377
Number of participants with account balances2013-01-01329
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-018
2012: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-01382
Total number of active participants reported on line 7a of the Form 55002012-01-01331
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-0146
Total of all active and inactive participants2012-01-01377
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-01377
Number of participants with account balances2012-01-01310
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-015
2011: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01399
Total number of active participants reported on line 7a of the Form 55002011-01-01343
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0139
Total of all active and inactive participants2011-01-01382
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-01382
Number of participants with account balances2011-01-01328
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-013
2010: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01422
Total number of active participants reported on line 7a of the Form 55002010-01-01385
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-0114
Total of all active and inactive participants2010-01-01399
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01399
Number of participants with account balances2010-01-01334
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-019
2009: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01371
Total number of active participants reported on line 7a of the Form 55002009-01-01421
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0112
Total of all active and inactive participants2009-01-01433
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01433
Number of participants with account balances2009-01-01339
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-016

Financial Data on THE PALMETTO BANK 401(K) RETIREMENT PLAN

Measure Date Value
2016 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 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$1,237
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total income from all sources (including contributions)2016-12-31$552,817
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$10,914,856
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$10,891,376
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$0
Value of total assets at end of year2016-12-31$966,453
Value of total assets at beginning of year2016-12-31$11,327,255
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$23,480
Total interest from all sources2016-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$70,054
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2016-12-31$0
Total dividends received from registered investment company shares (eg mutual funds)2016-12-31$70,054
Administrative expenses professional fees incurred2016-12-31$23,480
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$7,000,000
If this is an individual account plan, was there a blackout period2016-12-31No
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
Value of other receiveables (less allowance for doubtful accounts) at end of year2016-12-31$75
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$1,237
Liabilities. Value of operating payables at beginning of year2016-12-31$0
Total non interest bearing cash at end of year2016-12-31$0
Total non interest bearing cash at beginning of year2016-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$-10,362,039
Value of net assets at end of year (total assets less liabilities)2016-12-31$965,216
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$11,327,255
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-12-31$916,816
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$9,955,801
Value of interest in common/collective trusts at end of year2016-12-31$48,399
Value of interest in common/collective trusts at beginning of year2016-12-31$1,371,453
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2016-12-31$1,163
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2016-12-31$1
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2016-12-31$1
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$467,268
Net investment gain or loss from common/collective trusts2016-12-31$15,495
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
Assets. Invements in employer securities at end of year2016-12-31$0
Assets. Invements in employer securities at beginning of year2016-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$10,891,376
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 name2016-12-31ELLIOTT DAVIS DECOSIMO, LLC
Accountancy firm EIN2016-12-31570381582
2015 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 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$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$0
Total income from all sources (including contributions)2015-12-31$627,742
Total loss/gain on sale of assets2015-12-31$21,114
Total of all expenses incurred2015-12-31$1,503,813
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$1,473,298
Value of total corrective distributions2015-12-31$26,110
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$659,821
Value of total assets at end of year2015-12-31$11,327,255
Value of total assets at beginning of year2015-12-31$12,203,326
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$4,405
Total interest from all sources2015-12-31$2
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$456,109
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2015-12-31$0
Total dividends received from registered investment company shares (eg mutual funds)2015-12-31$456,109
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$7,000,000
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$497,890
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$66,311
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2015-12-31$34
Administrative expenses (other) incurred2015-12-31$4,405
Total non interest bearing cash at end of year2015-12-31$0
Total non interest bearing cash at beginning of year2015-12-31$52
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-876,071
Value of net assets at end of year (total assets less liabilities)2015-12-31$11,327,255
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$12,203,326
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$9,955,801
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$10,740,920
Value of interest in common/collective trusts at end of year2015-12-31$1,371,453
Value of interest in common/collective trusts at beginning of year2015-12-31$1,323,196
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-12-31$1
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-12-31$0
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$2
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-509,304
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
Assets. Invements in employer securities at end of year2015-12-31$0
Assets. Invements in employer securities at beginning of year2015-12-31$139,158
Contributions received in cash from employer2015-12-31$95,620
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$1,473,264
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
Aggregate proceeds on sale of assets2015-12-31$159,390
Aggregate carrying amount (costs) on sale of assets2015-12-31$138,276
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 name2015-12-31ELLIOTT DAVIS DECOSIMO, LLC
Accountancy firm EIN2015-12-31570381582
2014 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 2014 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2014-12-31$30,967
Total unrealized appreciation/depreciation of assets2014-12-31$30,967
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total income from all sources (including contributions)2014-12-31$1,982,503
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$2,091,623
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$2,048,036
Value of total corrective distributions2014-12-31$38,212
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$1,101,349
Value of total assets at end of year2014-12-31$12,203,326
Value of total assets at beginning of year2014-12-31$12,312,446
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$5,375
Total interest from all sources2014-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$429,739
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$429,739
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$7,000,000
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$702,644
Participant contributions at end of year2014-12-31$0
Participant contributions at beginning of year2014-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$312,060
Other income not declared elsewhere2014-12-31$5,549
Administrative expenses (other) incurred2014-12-31$5,375
Total non interest bearing cash at end of year2014-12-31$52
Total non interest bearing cash at beginning of year2014-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$-109,120
Value of net assets at end of year (total assets less liabilities)2014-12-31$12,203,326
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$12,312,446
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$10,740,920
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$10,712,255
Value of interest in common/collective trusts at end of year2014-12-31$1,323,196
Value of interest in common/collective trusts at beginning of year2014-12-31$1,441,237
Net investment gain/loss from registered investment companies (e.g. mutual funds)2014-12-31$399,720
Net investment gain or loss from common/collective trusts2014-12-31$15,179
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
Assets. Invements in employer securities at end of year2014-12-31$139,158
Assets. Invements in employer securities at beginning of year2014-12-31$158,954
Contributions received in cash from employer2014-12-31$86,645
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$2,048,036
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 name2014-12-31ELLIOTT DAVIS DECOSIMO, LLC
Accountancy firm EIN2014-12-31570381582
2013 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 2013 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2013-12-31$59,765
Total unrealized appreciation/depreciation of assets2013-12-31$59,765
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total income from all sources (including contributions)2013-12-31$3,290,119
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$2,244,715
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$2,222,360
Value of total corrective distributions2013-12-31$21,254
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$922,238
Value of total assets at end of year2013-12-31$12,312,446
Value of total assets at beginning of year2013-12-31$11,267,042
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$1,101
Total interest from all sources2013-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$299,931
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2013-12-31$299,931
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$7,000,000
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$755,944
Participant contributions at end of year2013-12-31$0
Participant contributions at beginning of year2013-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2013-12-31$137,681
Administrative expenses (other) incurred2013-12-31$1,101
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$1,045,404
Value of net assets at end of year (total assets less liabilities)2013-12-31$12,312,446
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$11,267,042
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2013-12-31$10,712,255
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2013-12-31$9,781,019
Value of interest in common/collective trusts at end of year2013-12-31$1,441,237
Value of interest in common/collective trusts at beginning of year2013-12-31$1,379,057
Net investment gain/loss from registered investment companies (e.g. mutual funds)2013-12-31$1,135,240
Net investment gain or loss from common/collective trusts2013-12-31$872,945
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
Assets. Invements in employer securities at end of year2013-12-31$158,954
Assets. Invements in employer securities at beginning of year2013-12-31$106,966
Contributions received in cash from employer2013-12-31$28,613
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$2,222,360
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 name2013-12-31ELLIOTT DAVIS, LLC
Accountancy firm EIN2013-12-31570381582
2012 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 2012 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2012-12-31$53,337
Total unrealized appreciation/depreciation of assets2012-12-31$53,337
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total income from all sources (including contributions)2012-12-31$2,281,198
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$1,797,220
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$1,776,234
Value of total corrective distributions2012-12-31$19,793
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$807,667
Value of total assets at end of year2012-12-31$11,267,042
Value of total assets at beginning of year2012-12-31$10,783,064
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$1,193
Total interest from all sources2012-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$315,624
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$315,624
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$7,000,000
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$799,476
Participant contributions at end of year2012-12-31$0
Participant contributions at beginning of year2012-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2012-12-31$8,191
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$483,978
Value of net assets at end of year (total assets less liabilities)2012-12-31$11,267,042
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$10,783,064
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$1,193
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$9,781,019
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$9,709,879
Value of interest in common/collective trusts at end of year2012-12-31$1,379,057
Value of interest in common/collective trusts at beginning of year2012-12-31$976,550
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$1,086,012
Net investment gain or loss from common/collective trusts2012-12-31$18,558
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
Assets. Invements in employer securities at end of year2012-12-31$106,966
Assets. Invements in employer securities at beginning of year2012-12-31$96,635
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$1,776,234
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31Yes
Opinion of an independent qualified public accountant for this plan2012-12-31Disclaimer
Accountancy firm name2012-12-31ELLIOTT DAVIS, LLC
Accountancy firm EIN2012-12-31570381582
2011 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 2011 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$-100,039
Total unrealized appreciation/depreciation of assets2011-12-31$-100,039
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$2,426
Total income from all sources (including contributions)2011-12-31$1,022,402
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$1,557,130
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$1,556,053
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$1,294,360
Value of total assets at end of year2011-12-31$10,783,064
Value of total assets at beginning of year2011-12-31$11,320,218
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$1,077
Total interest from all sources2011-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$263,130
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$263,130
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$7,000,000
If this is an individual account plan, was there a blackout period2011-12-31No
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$894,396
Income. Received or receivable in cash from other sources (including rollovers)2011-12-31$8,365
Value of other receiveables (less allowance for doubtful accounts) at end of year2011-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$22,885
Administrative expenses (other) incurred2011-12-31$1,077
Liabilities. Value of operating payables at beginning of year2011-12-31$2,426
Total non interest bearing cash at end of year2011-12-31$0
Total non interest bearing cash at beginning of year2011-12-31$95,955
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-534,728
Value of net assets at end of year (total assets less liabilities)2011-12-31$10,783,064
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$11,317,792
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$9,709,879
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$10,148,066
Value of interest in common/collective trusts at end of year2011-12-31$976,550
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$774,766
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$774,766
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$-451,141
Net investment gain or loss from common/collective trusts2011-12-31$16,092
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
Assets. Invements in employer securities at end of year2011-12-31$96,635
Assets. Invements in employer securities at beginning of year2011-12-31$278,546
Contributions received in cash from employer2011-12-31$391,599
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$1,556,053
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31ELLIOTT DAVIS, LLC
Accountancy firm EIN2011-12-31570381582
2010 : THE PALMETTO BANK 401(K) RETIREMENT PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2010-12-31$-1,013,669
Total unrealized appreciation/depreciation of assets2010-12-31$-1,013,669
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$2,426
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$2,716
Total income from all sources (including contributions)2010-12-31$1,591,606
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$920,019
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$920,019
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$1,319,862
Value of total assets at end of year2010-12-31$11,320,218
Value of total assets at beginning of year2010-12-31$10,648,921
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$0
Total interest from all sources2010-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$180,872
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$180,872
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$1,000,000
If this is an individual account plan, was there a blackout period2010-12-31No
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$892,967
Value of other receiveables (less allowance for doubtful accounts) at end of year2010-12-31$22,885
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2010-12-31$1,017
Liabilities. Value of operating payables at end of year2010-12-31$2,426
Liabilities. Value of operating payables at beginning of year2010-12-31$2,426
Total non interest bearing cash at end of year2010-12-31$95,955
Total non interest bearing cash at beginning of year2010-12-31$103,249
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$671,587
Value of net assets at end of year (total assets less liabilities)2010-12-31$11,317,792
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$10,646,205
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$10,148,066
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-12-31$8,520,091
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$774,766
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$720,056
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$720,056
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-12-31$1,104,541
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
Assets. Invements in employer securities at end of year2010-12-31$278,546
Assets. Invements in employer securities at beginning of year2010-12-31$1,304,508
Contributions received in cash from employer2010-12-31$426,895
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$920,019
Liabilities. Value of benefit claims payable at beginning of year2010-12-31$290
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)2010-12-31Yes
Opinion of an independent qualified public accountant for this plan2010-12-31Disclaimer
Accountancy firm name2010-12-31ELLIOTT DAVIS, LLC
Accountancy firm EIN2010-12-31570381582

Form 5500 Responses for THE PALMETTO BANK 401(K) RETIREMENT PLAN

2016: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedYes
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: THE PALMETTO BANK 401(K) RETIREMENT PLAN 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

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