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FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 401k Plan overview

Plan NameFIRST CLOVER LEAF BANK PROFIT SHARING PLAN
Plan identification number 004

FIRST CLOVER LEAF BANK PROFIT SHARING 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.

401k Sponsoring company profile

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

Company Name:FIRST CLOVER LEAF BANK
Employer identification number (EIN):370259310
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST CLOVER LEAF BANK PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042016-01-01RHONDA GATONS
0042015-01-01PAUL KUHL
0042014-01-01PAUL KUHL
0042013-01-01PAUL KUHL
0042012-01-01DENNIS M. TERRY
0042011-01-01DENNIS M. TERRY

Plan Statistics for FIRST CLOVER LEAF BANK PROFIT SHARING PLAN

401k plan membership statisitcs for FIRST CLOVER LEAF BANK PROFIT SHARING PLAN

Measure Date Value
2016: FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01105
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 benefits2016-01-010
Total of all active and inactive participants2016-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-010
Number of participants with account balances2016-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-018
2015: FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01111
Total number of active participants reported on line 7a of the Form 55002015-01-0199
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-016
Total of all active and inactive participants2015-01-01105
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01105
Number of participants with account balances2015-01-01102
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-014
2014: FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01100
Total number of active participants reported on line 7a of the Form 55002014-01-0198
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-0111
Total of all active and inactive participants2014-01-01109
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01109
Number of participants with account balances2014-01-01107
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-015
2013: FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0193
Total number of active participants reported on line 7a of the Form 55002013-01-0182
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-0118
Total of all active and inactive participants2013-01-01100
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01100
Number of participants with account balances2013-01-01100
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-011
2012: FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0187
Total number of active participants reported on line 7a of the Form 55002012-01-0176
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-0114
Total of all active and inactive participants2012-01-0190
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-0190
Number of participants with account balances2012-01-0189
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-014
2011: FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0177
Total number of active participants reported on line 7a of the Form 55002011-01-0177
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0110
Total of all active and inactive participants2011-01-0187
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0187
Number of participants with account balances2011-01-0187
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-013

Financial Data on FIRST CLOVER LEAF BANK PROFIT SHARING PLAN

Measure Date Value
2016 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2016 401k financial data
Transfers to/from the plan2016-12-31$-6,077,705
Total income from all sources2016-12-31$1,216,314
Expenses. Total of all expenses incurred2016-12-31$1,129,753
Benefits paid (including direct rollovers)2016-12-31$1,076,006
Total plan assets at end of year2016-12-31$0
Total plan assets at beginning of year2016-12-31$5,991,144
Value of fidelity bond covering the plan2016-12-31$7,000,000
Total contributions received or receivable from participants2016-12-31$392,269
Other income received2016-12-31$489,135
Net income (gross income less expenses)2016-12-31$86,561
Net plan assets at end of year (total assets less liabilities)2016-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$5,991,144
Assets. Value of participant loans2016-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022016-12-31$36,430
Total contributions received or receivable from employer(s)2016-12-31$334,910
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$53,747
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
2015 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2015 401k financial data
Total income from all sources2015-12-31$710,169
Expenses. Total of all expenses incurred2015-12-31$185,126
Benefits paid (including direct rollovers)2015-12-31$143,209
Total plan assets at end of year2015-12-31$5,991,144
Total plan assets at beginning of year2015-12-31$5,466,101
Value of fidelity bond covering the plan2015-12-31$7,000,000
Total contributions received or receivable from participants2015-12-31$386,073
Contributions received from other sources (not participants or employers)2015-12-31$37,222
Other income received2015-12-31$-40,466
Net income (gross income less expenses)2015-12-31$525,043
Net plan assets at end of year (total assets less liabilities)2015-12-31$5,991,144
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$5,466,101
Assets. Value of participant loans2015-12-31$151,793
Total contributions received or receivable from employer(s)2015-12-31$327,340
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$41,917
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
2014 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources2014-12-31$1,059,100
Expenses. Total of all expenses incurred2014-12-31$222,009
Benefits paid (including direct rollovers)2014-12-31$185,336
Total plan assets at end of year2014-12-31$5,466,101
Total plan assets at beginning of year2014-12-31$4,629,010
Value of fidelity bond covering the plan2014-12-31$2,500,000
Total contributions received or receivable from participants2014-12-31$357,793
Contributions received from other sources (not participants or employers)2014-12-31$51,505
Other income received2014-12-31$341,513
Net income (gross income less expenses)2014-12-31$837,091
Net plan assets at end of year (total assets less liabilities)2014-12-31$5,466,101
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$4,629,010
Assets. Value of participant loans2014-12-31$121,775
Total contributions received or receivable from employer(s)2014-12-31$308,289
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$36,673
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
2013 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2013 401k financial data
Total plan liabilities at beginning of year2013-12-31$0
Total income from all sources2013-12-31$1,316,461
Expenses. Total of all expenses incurred2013-12-31$534,041
Benefits paid (including direct rollovers)2013-12-31$501,766
Total plan assets at end of year2013-12-31$4,629,010
Total plan assets at beginning of year2013-12-31$3,846,590
Value of fidelity bond covering the plan2013-12-31$2,500,000
Total contributions received or receivable from participants2013-12-31$317,325
Contributions received from other sources (not participants or employers)2013-12-31$37,441
Other income received2013-12-31$703,844
Net income (gross income less expenses)2013-12-31$782,420
Net plan assets at end of year (total assets less liabilities)2013-12-31$4,629,010
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$3,846,590
Assets. Value of participant loans2013-12-31$101,753
Total contributions received or receivable from employer(s)2013-12-31$257,851
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$32,275
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
2012 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2012 401k financial data
Transfers to/from the plan2012-12-31$0
Total plan liabilities at end of year2012-12-31$0
Total plan liabilities at beginning of year2012-12-31$0
Total income from all sources2012-12-31$1,007,765
Expenses. Total of all expenses incurred2012-12-31$513,591
Benefits paid (including direct rollovers)2012-12-31$487,975
Total plan assets at end of year2012-12-31$3,846,590
Total plan assets at beginning of year2012-12-31$3,352,416
Value of fidelity bond covering the plan2012-12-31$2,500,000
Total contributions received or receivable from participants2012-12-31$255,714
Expenses. Other expenses not covered elsewhere2012-12-31$0
Contributions received from other sources (not participants or employers)2012-12-31$123,320
Other income received2012-12-31$408,969
Noncash contributions received2012-12-31$0
Net income (gross income less expenses)2012-12-31$494,174
Net plan assets at end of year (total assets less liabilities)2012-12-31$3,846,590
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$3,352,416
Assets. Value of participant loans2012-12-31$108,707
Total contributions received or receivable from employer(s)2012-12-31$219,762
Value of certain deemed distributions of participant loans2012-12-31$0
Value of corrective distributions2012-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$25,616
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2011 401k financial data
Transfers to/from the plan2011-12-31$0
Total plan liabilities at end of year2011-12-31$0
Total plan liabilities at beginning of year2011-12-31$0
Total income from all sources2011-12-31$426,690
Expenses. Total of all expenses incurred2011-12-31$31,852
Benefits paid (including direct rollovers)2011-12-31$8,300
Total plan assets at end of year2011-12-31$3,352,416
Total plan assets at beginning of year2011-12-31$2,957,578
Value of fidelity bond covering the plan2011-12-31$500,000
Total contributions received or receivable from participants2011-12-31$236,916
Expenses. Other expenses not covered elsewhere2011-12-31$0
Contributions received from other sources (not participants or employers)2011-12-31$15,636
Other income received2011-12-31$189
Noncash contributions received2011-12-31$0
Net income (gross income less expenses)2011-12-31$394,838
Net plan assets at end of year (total assets less liabilities)2011-12-31$3,352,416
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$2,957,578
Assets. Value of participant loans2011-12-31$85,098
Total contributions received or receivable from employer(s)2011-12-31$173,949
Value of certain deemed distributions of participant loans2011-12-31$0
Value of corrective distributions2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$23,552
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : FIRST CLOVER LEAF BANK PROFIT SHARING PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$3,036,940
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$489,148
Expenses. Total of all expenses incurred2010-12-31$568,510
Benefits paid (including direct rollovers)2010-12-31$558,571
Total plan assets at end of year2010-12-31$2,957,578
Total plan assets at beginning of year2010-12-31$0
Value of fidelity bond covering the plan2010-12-31$500,000
Total contributions received or receivable from participants2010-12-31$157,680
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$1,703
Other income received2010-12-31$224,067
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$-79,362
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,957,578
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$0
Assets. Value of employer securities2010-12-31$53,002
Total contributions received or receivable from employer(s)2010-12-31$105,698
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$9,939
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for FIRST CLOVER LEAF BANK PROFIT SHARING PLAN

2016: FIRST CLOVER LEAF BANK PROFIT SHARING 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 filingYes
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: FIRST CLOVER LEAF BANK PROFIT SHARING 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: FIRST CLOVER LEAF BANK PROFIT SHARING 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: FIRST CLOVER LEAF BANK PROFIT SHARING 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: FIRST CLOVER LEAF BANK 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 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: FIRST CLOVER LEAF BANK 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 – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

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