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FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameFIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 002

FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

FIRST BANK CORP has sponsored the creation of one or more 401k plans.

Company Name:FIRST BANK CORP
Employer identification number (EIN):710682703
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01HOGANTAYLOR LLP PREPARER
0022016-01-01HOGANTAYLOR LLP PREPARER

Plan Statistics for FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2020: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01465
Total number of active participants reported on line 7a of the Form 55002020-01-01386
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-0175
Total of all active and inactive participants2020-01-01461
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-012
Total participants2020-01-01463
Number of participants with account balances2020-01-01463
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-017
2019: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01411
Total number of active participants reported on line 7a of the Form 55002019-01-01380
Number of other retired or separated participants entitled to future benefits2019-01-0184
Total of all active and inactive participants2019-01-01464
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-011
Total participants2019-01-01465
Number of participants with account balances2019-01-01465
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-016
2018: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01395
Total number of active participants reported on line 7a of the Form 55002018-01-01411
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0138
Total of all active and inactive participants2018-01-01449
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-011
Total participants2018-01-01450
Number of participants with account balances2018-01-01411
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-017
2017: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01398
Total number of active participants reported on line 7a of the Form 55002017-01-01345
Number of other retired or separated participants entitled to future benefits2017-01-0150
Total of all active and inactive participants2017-01-01395
Total participants2017-01-01395
Number of participants with account balances2017-01-01395
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-0113
2016: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01423
Total number of active participants reported on line 7a of the Form 55002016-01-01348
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0150
Total of all active and inactive participants2016-01-01398
Total participants2016-01-01398
Number of participants with account balances2016-01-01398
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-019

Financial Data on FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2020 : FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2020-12-31$-4,162,378
Total unrealized appreciation/depreciation of assets2020-12-31$-4,162,378
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$892,513
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$718,975
Expenses. Interest paid2020-12-31$1,962
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022020-12-31$1,962
Total income from all sources (including contributions)2020-12-31$-1,605,964
Total of all expenses incurred2020-12-31$2,310,960
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$2,256,934
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$1,068,573
Value of total assets at end of year2020-12-31$28,030,142
Value of total assets at beginning of year2020-12-31$31,773,528
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$52,064
Total interest from all sources2020-12-31$1,951
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$1,485,890
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Administrative expenses professional fees incurred2020-12-31$52,064
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$10,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$152,910
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2020-12-31$758,941
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2020-12-31$721,141
Liabilities. Value of operating payables at end of year2020-12-31$421,828
Liabilities. Value of operating payables at beginning of year2020-12-31$187,453
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$-3,916,924
Value of net assets at end of year (total assets less liabilities)2020-12-31$27,137,629
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$31,054,553
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 bearing cash (including money market accounts and certificates of deposits) at end of year2020-12-31$28,502
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-12-31$187,187
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-12-31$187,187
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2020-12-31$1,951
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31Yes
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
Assets. Invements in employer securities at end of year2020-12-31$26,557,479
Assets. Invements in employer securities at beginning of year2020-12-31$30,488,460
Contributions received in cash from employer2020-12-31$1,068,573
Employer contributions (assets) at end of year2020-12-31$685,220
Employer contributions (assets) at beginning of year2020-12-31$376,740
Income. Dividends from common stock2020-12-31$1,485,890
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$2,256,934
Liabilities. Value of benefit claims payable at end of year2020-12-31$470,685
Liabilities. Value of benefit claims payable at beginning of year2020-12-31$129,952
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
Liabilities. Value of acquisition indebtedness at beginning of year2020-12-31$401,570
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31HOGANTAYLOR LLP
Accountancy firm EIN2020-12-31731413977
2019 : FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2019-12-31$3,167,084
Unrealized appreciation/depreciation of other (non real estate) assets2019-12-31$3,167,084
Total unrealized appreciation/depreciation of assets2019-12-31$3,167,084
Total unrealized appreciation/depreciation of assets2019-12-31$3,167,084
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$718,975
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$718,975
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$1,854,029
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$1,854,029
Expenses. Interest paid2019-12-31$26,633
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022019-12-31$26,633
Expenses. Interest paid2019-12-31$26,633
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022019-12-31$26,633
Total income from all sources (including contributions)2019-12-31$5,526,618
Total income from all sources (including contributions)2019-12-31$5,526,618
Total of all expenses incurred2019-12-31$3,107,078
Total of all expenses incurred2019-12-31$3,107,078
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$3,044,193
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$3,044,193
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$940,038
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$940,038
Value of total assets at end of year2019-12-31$31,773,528
Value of total assets at end of year2019-12-31$31,773,528
Value of total assets at beginning of year2019-12-31$30,489,042
Value of total assets at beginning of year2019-12-31$30,489,042
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$36,252
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$36,252
Total interest from all sources2019-12-31$9,424
Total interest from all sources2019-12-31$9,424
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$1,410,072
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$1,410,072
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Administrative expenses professional fees incurred2019-12-31$36,252
Administrative expenses professional fees incurred2019-12-31$36,252
Was this plan covered by a fidelity bond2019-12-31Yes
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$10,000,000
Value of fidelity bond cover2019-12-31$10,000,000
If this is an individual account plan, was there a blackout period2019-12-31No
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$2,463,687
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2019-12-31$721,141
Value of other receiveables (less allowance for doubtful accounts) at end of year2019-12-31$721,141
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2019-12-31$741,556
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2019-12-31$741,556
Liabilities. Value of operating payables at end of year2019-12-31$187,453
Liabilities. Value of operating payables at end of year2019-12-31$187,453
Liabilities. Value of operating payables at beginning of year2019-12-31$187,453
Liabilities. Value of operating payables at beginning of year2019-12-31$187,453
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
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$2,419,540
Value of net income/loss2019-12-31$2,419,540
Value of net assets at end of year (total assets less liabilities)2019-12-31$31,054,553
Value of net assets at end of year (total assets less liabilities)2019-12-31$31,054,553
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$28,635,013
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$28,635,013
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
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 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
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-12-31$187,187
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-12-31$187,187
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$37,327
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$37,327
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$37,327
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$37,327
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2019-12-31$9,424
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2019-12-31$9,424
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31Yes
Was there a failure to transmit to the plan any participant contributions2019-12-31No
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
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Assets. Invements in employer securities at end of year2019-12-31$30,488,460
Assets. Invements in employer securities at end of year2019-12-31$30,488,460
Assets. Invements in employer securities at beginning of year2019-12-31$29,509,542
Assets. Invements in employer securities at beginning of year2019-12-31$29,509,542
Contributions received in cash from employer2019-12-31$940,038
Contributions received in cash from employer2019-12-31$940,038
Employer contributions (assets) at end of year2019-12-31$376,740
Employer contributions (assets) at end of year2019-12-31$376,740
Employer contributions (assets) at beginning of year2019-12-31$200,617
Employer contributions (assets) at beginning of year2019-12-31$200,617
Income. Dividends from common stock2019-12-31$1,410,072
Income. Dividends from common stock2019-12-31$1,410,072
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$3,044,193
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$3,044,193
Liabilities. Value of benefit claims payable at end of year2019-12-31$129,952
Liabilities. Value of benefit claims payable at end of year2019-12-31$129,952
Liabilities. Value of benefit claims payable at beginning of year2019-12-31$347,156
Liabilities. Value of benefit claims payable at beginning of year2019-12-31$347,156
Did the plan have assets held for investment2019-12-31Yes
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
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
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Liabilities. Value of acquisition indebtedness at end of year2019-12-31$401,570
Liabilities. Value of acquisition indebtedness at end of year2019-12-31$401,570
Liabilities. Value of acquisition indebtedness at beginning of year2019-12-31$1,319,420
Liabilities. Value of acquisition indebtedness at beginning of year2019-12-31$1,319,420
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
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
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31HOGANTAYLOR LLP
Accountancy firm name2019-12-31HOGANTAYLOR LLP
Accountancy firm EIN2019-12-31731413977
Accountancy firm EIN2019-12-31731413977
2018 : FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2018-12-31$1,517,728
Total unrealized appreciation/depreciation of assets2018-12-31$1,517,728
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$1,854,029
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$2,362,311
Expenses. Interest paid2018-12-31$36,416
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022018-12-31$36,416
Total income from all sources (including contributions)2018-12-31$3,798,247
Total of all expenses incurred2018-12-31$3,959,064
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$3,877,117
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$875,476
Value of total assets at end of year2018-12-31$30,489,042
Value of total assets at beginning of year2018-12-31$31,158,141
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$45,531
Total interest from all sources2018-12-31$17,108
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$1,387,938
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$1,008
Administrative expenses professional fees incurred2018-12-31$45,531
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$10,000,000
If this is an individual account plan, was there a blackout period2018-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$3,359,466
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2018-12-31$741,556
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2018-12-31$680,643
Liabilities. Value of operating payables at end of year2018-12-31$187,453
Liabilities. Value of operating payables at beginning of year2018-12-31$166,017
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-160,817
Value of net assets at end of year (total assets less liabilities)2018-12-31$28,635,013
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$28,795,830
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 beginning of year2018-12-31$88,373
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2018-12-31$37,327
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2018-12-31$1,132,063
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2018-12-31$1,132,063
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2018-12-31$17,108
Net investment gain/loss from registered investment companies (e.g. mutual funds)2018-12-31$-3
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31Yes
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
Assets. Invements in employer securities at end of year2018-12-31$29,509,542
Assets. Invements in employer securities at beginning of year2018-12-31$28,708,176
Contributions received in cash from employer2018-12-31$875,476
Employer contributions (assets) at end of year2018-12-31$200,617
Employer contributions (assets) at beginning of year2018-12-31$548,886
Income. Dividends from common stock2018-12-31$1,386,930
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$3,877,117
Liabilities. Value of benefit claims payable at end of year2018-12-31$347,156
Liabilities. Value of benefit claims payable at beginning of year2018-12-31$1,067,243
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
Liabilities. Value of acquisition indebtedness at end of year2018-12-31$1,319,420
Liabilities. Value of acquisition indebtedness at beginning of year2018-12-31$1,129,051
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 name2018-12-31HOGANTAYLOR LLP
Accountancy firm EIN2018-12-31731413977
2017 : FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2017-12-31$4,580,562
Total unrealized appreciation/depreciation of assets2017-12-31$4,580,562
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$2,362,311
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$1,972,097
Expenses. Interest paid2017-12-31$48,606
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022017-12-31$48,606
Total income from all sources (including contributions)2017-12-31$6,809,918
Total of all expenses incurred2017-12-31$2,555,784
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$2,465,787
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$853,915
Value of total assets at end of year2017-12-31$31,158,141
Value of total assets at beginning of year2017-12-31$26,513,793
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$41,391
Total interest from all sources2017-12-31$9,148
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$1,342,584
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$2,866
Administrative expenses professional fees incurred2017-12-31$41,391
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$10,000,000
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$694,904
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2017-12-31$680,643
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2017-12-31$660,399
Liabilities. Value of operating payables at end of year2017-12-31$166,017
Liabilities. Value of operating payables at beginning of year2017-12-31$187,453
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$4,254,134
Value of net assets at end of year (total assets less liabilities)2017-12-31$28,795,830
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$24,541,696
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2017-12-31$88,373
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2017-12-31$209,852
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2017-12-31$1,132,063
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2017-12-31$333,366
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2017-12-31$333,366
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2017-12-31$9,148
Net investment gain/loss from registered investment companies (e.g. mutual funds)2017-12-31$23,709
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31Yes
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
Assets. Invements in employer securities at end of year2017-12-31$28,708,176
Assets. Invements in employer securities at beginning of year2017-12-31$24,761,700
Contributions received in cash from employer2017-12-31$853,915
Employer contributions (assets) at end of year2017-12-31$548,886
Employer contributions (assets) at beginning of year2017-12-31$548,476
Income. Dividends from common stock2017-12-31$1,339,718
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$2,465,787
Liabilities. Value of benefit claims payable at end of year2017-12-31$1,067,243
Liabilities. Value of benefit claims payable at beginning of year2017-12-31$310,352
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
Liabilities. Value of acquisition indebtedness at end of year2017-12-31$1,129,051
Liabilities. Value of acquisition indebtedness at beginning of year2017-12-31$1,474,292
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 name2017-12-31HOGANTAYLOR LLP
Accountancy firm EIN2017-12-31731413977
2016 : FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2016-12-31$3,136,012
Total unrealized appreciation/depreciation of assets2016-12-31$3,136,012
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$1,972,097
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$5,032,014
Expenses. Interest paid2016-12-31$56,954
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022016-12-31$56,954
Total income from all sources (including contributions)2016-12-31$5,392,603
Total of all expenses incurred2016-12-31$1,768,678
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$1,667,829
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$886,107
Value of total assets at end of year2016-12-31$26,513,793
Value of total assets at beginning of year2016-12-31$25,949,785
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$43,895
Total interest from all sources2016-12-31$1,173
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$1,356,133
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$3,352
Administrative expenses professional fees incurred2016-12-31$43,895
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$10,000,000
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$3,886,209
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$660,399
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$672,494
Liabilities. Value of operating payables at end of year2016-12-31$187,453
Total non interest bearing cash at beginning of year2016-12-31$2,053
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$3,623,925
Value of net assets at end of year (total assets less liabilities)2016-12-31$24,541,696
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$20,917,771
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$209,852
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$122,915
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2016-12-31$333,366
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2016-12-31$1,750,012
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2016-12-31$1,750,012
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$1,173
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$13,178
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31Yes
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$24,761,700
Assets. Invements in employer securities at beginning of year2016-12-31$23,080,015
Contributions received in cash from employer2016-12-31$886,107
Employer contributions (assets) at end of year2016-12-31$548,476
Employer contributions (assets) at beginning of year2016-12-31$322,296
Income. Dividends from common stock2016-12-31$1,352,781
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$1,667,829
Liabilities. Value of benefit claims payable at end of year2016-12-31$310,352
Liabilities. Value of benefit claims payable at beginning of year2016-12-31$3,325,959
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
Liabilities. Value of acquisition indebtedness at end of year2016-12-31$1,474,292
Liabilities. Value of acquisition indebtedness at beginning of year2016-12-31$1,706,055
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 name2016-12-31HOGANTAYLOR LLP
Accountancy firm EIN2016-12-31731413977

Form 5500 Responses for FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN

2020: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 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 – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 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 – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 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 – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP PLAN 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: FIRST BANK CORP EMPLOYEE STOCK OWNERSHIP 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

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