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THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN
Plan identification number 001

THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

FDIC AS RECEIVER OF THE FARMERS BANK OF LYNCHBURG has sponsored the creation of one or more 401k plans.

Company Name:FDIC AS RECEIVER OF THE FARMERS BANK OF LYNCHBURG
Employer identification number (EIN):620197625
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012012-01-01FDIC AS RECEIVER MICHAEL SHEA FDIC AS RECEIVER MICHAEL SHEA2013-01-17
0012011-01-01RICK MOODY RICK MOODY2012-06-12
0012010-01-01RICK MOODY RICK MOODY2011-12-15
0012009-01-01JERRY DANIEL

Plan Statistics for THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN

401k plan membership statisitcs for THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN

Measure Date Value
2012: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-014
Total number of active participants reported on line 7a of the Form 55002012-01-010
Total of all active and inactive participants2012-01-010
Total participants2012-01-010
Number of participants with account balances2012-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-014
Total number of active participants reported on line 7a of the Form 55002011-01-014
Total of all active and inactive participants2011-01-014
Total participants2011-01-014
Number of participants with account balances2011-01-014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-0118
Total number of active participants reported on line 7a of the Form 55002010-01-014
Total of all active and inactive participants2010-01-014
Total participants2010-01-014
Number of participants with account balances2010-01-014
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0120
Total number of active participants reported on line 7a of the Form 55002009-01-0116
Number of other retired or separated participants entitled to future benefits2009-01-012
Total of all active and inactive participants2009-01-0118
Total participants2009-01-0118
Number of participants with account balances2009-01-0117
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN

Measure Date Value
2012 : THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2012 401k financial data
Total income from all sources2012-12-10$1,191
Expenses. Total of all expenses incurred2012-12-10$56,659
Benefits paid (including direct rollovers)2012-12-10$56,647
Total plan assets at end of year2012-12-10$0
Total plan assets at beginning of year2012-12-10$55,468
Value of fidelity bond covering the plan2012-12-10$2,275,000
Expenses. Other expenses not covered elsewhere2012-12-10$12
Other income received2012-12-10$1,191
Net income (gross income less expenses)2012-12-10$-55,468
Net plan assets at end of year (total assets less liabilities)2012-12-10$0
Net plan assets at beginning of year (total assets less liabilities)2012-12-10$55,468
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-10$0
2011 : THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources2011-12-31$-11,847
Expenses. Total of all expenses incurred2011-12-31$0
Total plan assets at end of year2011-12-31$55,468
Total plan assets at beginning of year2011-12-31$67,315
Value of fidelity bond covering the plan2011-12-31$2,275,000
Other income received2011-12-31$-11,847
Net income (gross income less expenses)2011-12-31$-11,847
Net plan assets at end of year (total assets less liabilities)2011-12-31$55,468
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$67,315
2010 : THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$-1,273,002
Total income from all sources2010-12-31$9,901
Expenses. Total of all expenses incurred2010-12-31$0
Total plan assets at end of year2010-12-31$0
Total plan assets at beginning of year2010-12-31$1,263,101
Value of fidelity bond covering the plan2010-12-31$2,275,000
Total contributions received or receivable from participants2010-12-31$5,674
Other income received2010-12-31$-1,347
Net income (gross income less expenses)2010-12-31$9,901
Net plan assets at end of year (total assets less liabilities)2010-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$1,263,101
Assets. Value of participant loans2010-12-31$0
Total contributions received or receivable from employer(s)2010-12-31$5,574
2009 : THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN 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 THE FARMERS BANK OF LYNCHBURG PROFIT SHARING PLAN

2012: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING 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 filingYes
2012-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement – InsuranceYes
2012-01-01Plan benefit arrangement - TrustYes
2011: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING 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 – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2010: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING 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 – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes
2009: THE FARMERS BANK OF LYNCHBURG PROFIT SHARING 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 – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

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