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FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameFARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 017

FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Stock bonus
  • ESOP other than a leveraged ESOP - A completed Schedule E must be attached to a Form 5500 filed for an Employee Stock Ownership Plan (ESOP).
  • 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

PEOPLE'S UNITED BANK, N.A. has sponsored the creation of one or more 401k plans.

Company Name:PEOPLE'S UNITED BANK, N.A.
Employer identification number (EIN):061213065
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0172019-01-01
0172019-01-01
0172018-01-01
0172018-01-01

Plan Statistics for FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2019: FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01399
Total number of active participants reported on line 7a of the Form 55002019-01-010
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-010
Number of participants with account balances2019-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01388
Total number of active participants reported on line 7a of the Form 55002018-01-01307
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-010
Total of all active and inactive participants2018-01-01307
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01307
Number of participants with account balances2018-01-01299
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010

Financial Data on FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2019 : FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Unrealized appreciation/depreciation of real estate assets2019-06-29$0
Unrealized appreciation/depreciation of other (non real estate) assets2019-06-29$0
Total unrealized appreciation/depreciation of assets2019-06-29$0
Total transfer of assets to this plan2019-06-29$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-06-29$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-06-29$0
Total income from all sources (including contributions)2019-06-29$328,841
Total loss/gain on sale of assets2019-06-29$0
Total of all expenses incurred2019-06-29$27,583,753
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-06-29$27,579,395
Value of total corrective distributions2019-06-29$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-06-29$0
Value of total assets at end of year2019-06-29$0
Value of total assets at beginning of year2019-06-29$27,254,912
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-06-29$4,358
Total income from rents2019-06-29$0
Total interest from all sources2019-06-29$5,826
Total dividends received (eg from common stock, registered investment company shares)2019-06-29$323,015
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-06-29Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2019-06-29$0
Total dividends received from registered investment company shares (eg mutual funds)2019-06-29$0
Administrative expenses professional fees incurred2019-06-29$2,275
Was this plan covered by a fidelity bond2019-06-29Yes
Value of fidelity bond cover2019-06-29$50,000,000
If this is an individual account plan, was there a blackout period2019-06-29No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-06-29$26,621,229
Were there any nonexempt tranactions with any party-in-interest2019-06-29No
Amount of non-exempt transactions with any party-in-interest2019-06-29$0
Contributions received from participants2019-06-29$0
Participant contributions at end of year2019-06-29$0
Participant contributions at beginning of year2019-06-29$0
Income. Received or receivable in cash from other sources (including rollovers)2019-06-29$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2019-06-29$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2019-06-29$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2019-06-29$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2019-06-29$0
Other income not declared elsewhere2019-06-29$0
Administrative expenses (other) incurred2019-06-29$0
Liabilities. Value of operating payables at beginning of year2019-06-29$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-06-29No
Value of net income/loss2019-06-29$-27,254,912
Value of net assets at end of year (total assets less liabilities)2019-06-29$0
Value of net assets at beginning of year (total assets less liabilities)2019-06-29$27,254,912
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-06-29No
Were any loans by the plan or fixed income obligations due to the plan in default2019-06-29No
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2019-06-29$0
Were any leases to which the plan was party in default or uncollectible2019-06-29No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2019-06-29$0
Investment advisory and management fees2019-06-29$0
Income. Interest from loans (other than to participants)2019-06-29$0
Interest earned on other investments2019-06-29$0
Income. Interest from US Government securities2019-06-29$0
Income. Interest from corporate debt instruments2019-06-29$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-06-29$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-06-29$633,683
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-06-29$633,683
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2019-06-29$5,826
Expenses. Payments to insurance carriers foe the provision of benefits2019-06-29$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-06-29$0
Net investment gain/loss from pooled separate accounts2019-06-29$0
Net investment gain or loss from common/collective trusts2019-06-29$0
Net gain/loss from 103.12 investment entities2019-06-29$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-06-29Yes
Was there a failure to transmit to the plan any participant contributions2019-06-29No
Has the plan failed to provide any benefit when due under the plan2019-06-29No
Assets. Invements in employer securities at end of year2019-06-29$0
Assets. Invements in employer securities at beginning of year2019-06-29$26,621,229
Contributions received in cash from employer2019-06-29$0
Employer contributions (assets) at end of year2019-06-29$0
Employer contributions (assets) at beginning of year2019-06-29$0
Income. Dividends from preferred stock2019-06-29$0
Income. Dividends from common stock2019-06-29$323,015
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-06-29$27,579,395
Contract administrator fees2019-06-29$2,083
Liabilities. Value of benefit claims payable at beginning of year2019-06-29$0
Did the plan have assets held for investment2019-06-29No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-06-29No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-06-29Yes
Aggregate proceeds on sale of assets2019-06-29$0
Aggregate carrying amount (costs) on sale of assets2019-06-29$0
Liabilities. Value of acquisition indebtedness at beginning of year2019-06-29$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-06-29Yes
Opinion of an independent qualified public accountant for this plan2019-06-29Disclaimer
Accountancy firm name2019-06-29MARCUM LLP
Accountancy firm EIN2019-06-29111986323
2018 : FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data
Unrealized appreciation/depreciation of real estate assets2018-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2018-12-31$1,128,171
Total unrealized appreciation/depreciation of assets2018-12-31$1,128,171
Total transfer of assets to this plan2018-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$10,032,174
Expenses. Interest paid2018-12-31$426,711
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$426,711
Total income from all sources (including contributions)2018-12-31$1,698,341
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$673,366
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$246,655
Value of total corrective distributions2018-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$804,454
Value of total assets at end of year2018-12-31$27,254,912
Value of total assets at beginning of year2018-12-31$36,262,111
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$0
Total income from rents2018-12-31$0
Total interest from all sources2018-12-31$5,418
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$1,013,282
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$0
Administrative expenses professional fees incurred2018-12-31$0
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$50,000,000
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$3,864
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Amount of non-exempt transactions with any party-in-interest2018-12-31$0
Contributions received from participants2018-12-31$0
Participant contributions at end of year2018-12-31$0
Participant contributions at beginning of year2018-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2018-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2018-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2018-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2018-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2018-12-31$10,032,174
Other income not declared elsewhere2018-12-31$74,864
Administrative expenses (other) incurred2018-12-31$0
Liabilities. Value of operating payables at beginning of year2018-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$1,024,975
Value of net assets at end of year (total assets less liabilities)2018-12-31$27,254,912
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$26,229,937
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
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2018-12-31$0
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2018-12-31$0
Investment advisory and management fees2018-12-31$0
Income. Interest from loans (other than to participants)2018-12-31$0
Interest earned on other investments2018-12-31$0
Income. Interest from US Government securities2018-12-31$0
Income. Interest from corporate debt instruments2018-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2018-12-31$633,683
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2018-12-31$269,470
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2018-12-31$269,470
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2018-12-31$5,418
Expenses. Payments to insurance carriers foe the provision of benefits2018-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2018-12-31$-1,327,848
Net investment gain/loss from pooled separate accounts2018-12-31$0
Net investment gain or loss from common/collective trusts2018-12-31$0
Net gain/loss from 103.12 investment entities2018-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Assets. Invements in employer securities at end of year2018-12-31$26,621,229
Assets. Invements in employer securities at beginning of year2018-12-31$35,992,311
Contributions received in cash from employer2018-12-31$804,454
Employer contributions (assets) at end of year2018-12-31$0
Employer contributions (assets) at beginning of year2018-12-31$330
Income. Dividends from preferred stock2018-12-31$0
Income. Dividends from common stock2018-12-31$1,013,282
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$246,655
Contract administrator fees2018-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2018-12-31$0
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
Aggregate proceeds on sale of assets2018-12-31$0
Aggregate carrying amount (costs) on sale of assets2018-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2018-12-31$0
Accountancy firm name2018-12-31MARCUM LLP
Accountancy firm EIN2018-12-31111986323

Form 5500 Responses for FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN

2019: FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01This submission is the final filingYes
2019-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: FARMINGTON BANK EMPLOYEE STOCK OWNERSHIP PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedYes
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

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