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BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameBANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 002

BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Stock bonus
  • 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.
  • The employer maintaining this ESOP is an S Corporation
  • 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

BANK 1ST has sponsored the creation of one or more 401k plans.

Company Name:BANK 1ST
Employer identification number (EIN):420253320
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01TOBIN L BRITT
0022016-01-01TOBIN L BRITT
0022016-01-01

Plan Statistics for BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2023: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-0123
Total number of active participants reported on line 7a of the Form 55002023-01-0117
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-014
Total of all active and inactive participants2023-01-0121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-0121
Number of participants with account balances2023-01-0121
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-0122
Total number of active participants reported on line 7a of the Form 55002022-01-0120
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-013
Total of all active and inactive participants2022-01-0123
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-0123
Number of participants with account balances2022-01-0123
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-011
2021: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0122
Total number of active participants reported on line 7a of the Form 55002021-01-0120
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-012
Total of all active and inactive participants2021-01-0122
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-0122
Number of participants with account balances2021-01-0122
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-011
2020: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0120
Total number of active participants reported on line 7a of the Form 55002020-01-0121
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-011
Total of all active and inactive participants2020-01-0122
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0122
Number of participants with account balances2020-01-0122
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0120
Total number of active participants reported on line 7a of the Form 55002019-01-0118
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-011
Total of all active and inactive participants2019-01-0119
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0119
Number of participants with account balances2019-01-0119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0119
Total number of active participants reported on line 7a of the Form 55002018-01-0120
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 participants2018-01-0120
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0120
Number of participants with account balances2018-01-0120
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-0119
Total number of active participants reported on line 7a of the Form 55002017-01-0119
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-0119
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-0119
Number of participants with account balances2017-01-0119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-0125
Total number of active participants reported on line 7a of the Form 55002016-01-0119
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 participants2016-01-0119
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0119
Number of participants with account balances2016-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2023 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2023 401k financial data
Transfers to/from the plan2023-12-31$0
Total plan liabilities at end of year2023-12-31$557,671
Total plan liabilities at beginning of year2023-12-31$656,222
Total income from all sources2023-12-31$91,634
Expenses. Total of all expenses incurred2023-12-31$39,211
Benefits paid (including direct rollovers)2023-12-31$7,527
Total plan assets at end of year2023-12-31$2,428,636
Total plan assets at beginning of year2023-12-31$2,474,764
Value of fidelity bond covering the plan2023-12-31$2,050,000
Total contributions received or receivable from participants2023-12-31$0
Expenses. Other expenses not covered elsewhere2023-12-31$21,450
Contributions received from other sources (not participants or employers)2023-12-31$0
Other income received2023-12-31$-28,366
Noncash contributions received2023-12-31$0
Net income (gross income less expenses)2023-12-31$52,423
Net plan assets at end of year (total assets less liabilities)2023-12-31$1,870,965
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$1,818,542
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2023-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2023-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022023-12-31$0
Assets. Value of employer securities2023-12-31$2,214,000
Total contributions received or receivable from employer(s)2023-12-31$120,000
Value of certain deemed distributions of participant loans2023-12-31$0
Value of corrective distributions2023-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$10,234
2022 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total plan liabilities at end of year2022-12-31$656,222
Total plan liabilities at beginning of year2022-12-31$800,983
Total income from all sources2022-12-31$289,222
Expenses. Total of all expenses incurred2022-12-31$35,471
Benefits paid (including direct rollovers)2022-12-31$0
Total plan assets at end of year2022-12-31$2,468,922
Total plan assets at beginning of year2022-12-31$2,359,932
Value of fidelity bond covering the plan2022-12-31$2,050,000
Total contributions received or receivable from participants2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$25,239
Contributions received from other sources (not participants or employers)2022-12-31$0
Other income received2022-12-31$175,064
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$253,751
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,812,700
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,558,949
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2022-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2022-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$0
Assets. Value of employer securities2022-12-31$2,280,000
Total contributions received or receivable from employer(s)2022-12-31$114,158
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$10,232
2021 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data
Transfers to/from the plan2021-12-31$0
Total plan liabilities at end of year2021-12-31$800,983
Total plan liabilities at beginning of year2021-12-31$948,464
Total income from all sources2021-12-31$254,276
Expenses. Total of all expenses incurred2021-12-31$47,380
Benefits paid (including direct rollovers)2021-12-31$0
Total plan assets at end of year2021-12-31$2,359,932
Total plan assets at beginning of year2021-12-31$2,300,517
Value of fidelity bond covering the plan2021-12-31$2,050,000
Total contributions received or receivable from participants2021-12-31$0
Expenses. Other expenses not covered elsewhere2021-12-31$32,519
Contributions received from other sources (not participants or employers)2021-12-31$0
Other income received2021-12-31$134,276
Noncash contributions received2021-12-31$0
Net income (gross income less expenses)2021-12-31$206,896
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,558,949
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$1,352,053
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2021-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2021-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022021-12-31$0
Assets. Value of employer securities2021-12-31$2,160,000
Total contributions received or receivable from employer(s)2021-12-31$120,000
Value of certain deemed distributions of participant loans2021-12-31$0
Value of corrective distributions2021-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$14,861
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Transfers to/from the plan2020-12-31$0
Total plan liabilities at end of year2020-12-31$948,464
Total plan liabilities at beginning of year2020-12-31$1,470,609
Total income from all sources2020-12-31$837,272
Expenses. Total of all expenses incurred2020-12-31$36,479
Benefits paid (including direct rollovers)2020-12-31$0
Total plan assets at end of year2020-12-31$2,300,517
Total plan assets at beginning of year2020-12-31$2,021,869
Value of fidelity bond covering the plan2020-12-31$2,050,000
Total contributions received or receivable from participants2020-12-31$0
Expenses. Other expenses not covered elsewhere2020-12-31$36,479
Contributions received from other sources (not participants or employers)2020-12-31$0
Other income received2020-12-31$717,272
Noncash contributions received2020-12-31$0
Net income (gross income less expenses)2020-12-31$800,793
Net plan assets at end of year (total assets less liabilities)2020-12-31$1,352,053
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$551,260
Value of loans by the plan or fixed income obligations due to the plan which were in default or classified as uncollectible at the close of the plan year2020-12-31$0
Value of leases to which the plan was a party in default or classified as uncollectible during the plan year2020-12-31$0
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022020-12-31$0
Assets. Value of employer securities2020-12-31$2,076,000
Total contributions received or receivable from employer(s)2020-12-31$120,000
Value of certain deemed distributions of participant loans2020-12-31$0
Value of corrective distributions2020-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$1,470,609
Total plan liabilities at beginning of year2019-12-31$1,498,980
Total income from all sources2019-12-31$210,828
Expenses. Total of all expenses incurred2019-12-31$0
Total plan assets at end of year2019-12-31$2,021,869
Total plan assets at beginning of year2019-12-31$1,839,412
Value of fidelity bond covering the plan2019-12-31$2,050,000
Other income received2019-12-31$74,777
Net income (gross income less expenses)2019-12-31$210,828
Net plan assets at end of year (total assets less liabilities)2019-12-31$551,260
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$340,432
Assets. Value of employer securities2019-12-31$1,953,000
Total contributions received or receivable from employer(s)2019-12-31$136,051
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data
Total plan liabilities at end of year2018-12-31$1,498,980
Total plan liabilities at beginning of year2018-12-31$1,420,110
Total income from all sources2018-12-31$172,930
Expenses. Total of all expenses incurred2018-12-31$0
Benefits paid (including direct rollovers)2018-12-31$0
Total plan assets at end of year2018-12-31$1,839,412
Total plan assets at beginning of year2018-12-31$1,587,612
Value of fidelity bond covering the plan2018-12-31$3,000,000
Expenses. Other expenses not covered elsewhere2018-12-31$0
Other income received2018-12-31$46,765
Net income (gross income less expenses)2018-12-31$172,930
Net plan assets at end of year (total assets less liabilities)2018-12-31$340,432
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$167,502
Assets. Value of employer securities2018-12-31$1,743,000
Total contributions received or receivable from employer(s)2018-12-31$126,165
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k financial data
Total plan liabilities at end of year2017-12-31$1,420,110
Total plan liabilities at beginning of year2017-12-31$1,180,170
Total income from all sources2017-12-31$171,765
Expenses. Total of all expenses incurred2017-12-31$4,263
Benefits paid (including direct rollovers)2017-12-31$4,163
Total plan assets at end of year2017-12-31$1,587,612
Total plan assets at beginning of year2017-12-31$1,180,170
Value of fidelity bond covering the plan2017-12-31$2,050,000
Expenses. Other expenses not covered elsewhere2017-12-31$100
Other income received2017-12-31$82,935
Net income (gross income less expenses)2017-12-31$167,502
Net plan assets at end of year (total assets less liabilities)2017-12-31$167,502
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$0
Assets. Value of employer securities2017-12-31$1,527,000
Total contributions received or receivable from employer(s)2017-12-31$88,830
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k financial data
Total plan liabilities at end of year2016-12-31$1,216,516
Total plan liabilities at beginning of year2016-12-31$1,216,516
Total income from all sources2016-12-31$0
Expenses. Total of all expenses incurred2016-12-31$0
Total plan assets at end of year2016-12-31$1,180,170
Value of fidelity bond covering the plan2016-12-31$2,050,000
Net income (gross income less expenses)2016-12-31$0
Net plan assets at end of year (total assets less liabilities)2016-12-31$-1,216,516
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$-1,216,516
Assets. Value of employer securities2016-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0

Form 5500 Responses for BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN

2023: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedYes
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
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: BANK 1ST 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: BANK 1ST 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: BANK 1ST 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: BANK 1ST EMPLOYEE STOCK OWNERSHIP PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01First time form 5500 has been submittedYes
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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