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EQUITY BANK 401K PLAN 401k Plan overview

Plan NameEQUITY BANK 401K PLAN
Plan identification number 006

EQUITY BANK 401K 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

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

Company Name:EQUITY BANK
Employer identification number (EIN):480987182
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about EQUITY BANK

Jurisdiction of Incorporation: Florida Department of State Division of Corporations
Incorporation Date: 1985-08-23
Company Identification Number: H72718

More information about EQUITY BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan EQUITY BANK 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0062010-01-01JULIE HUBER JULIE HUBER2011-01-31
0062009-01-01JARED SPROLE JARED SPROLE2010-10-14
0062009-01-01JULIE HUBER JULIE HUBER2011-02-08

Plan Statistics for EQUITY BANK 401K PLAN

401k plan membership statisitcs for EQUITY BANK 401K PLAN

Measure Date Value
2010: EQUITY BANK 401K PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01140
Total number of active participants reported on line 7a of the Form 55002010-01-01103
Number of retired or separated participants receiving benefits2010-01-016
Number of other retired or separated participants entitled to future benefits2010-01-0124
Total of all active and inactive participants2010-01-01133
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01133
Number of participants with account balances2010-01-0189
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-011
2009: EQUITY BANK 401K PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01140
Total number of active participants reported on line 7a of the Form 55002009-01-01103
Number of retired or separated participants receiving benefits2009-01-018
Number of other retired or separated participants entitled to future benefits2009-01-0128
Total of all active and inactive participants2009-01-01139
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01139
Number of participants with account balances2009-01-0197
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-0116

Financial Data on EQUITY BANK 401K PLAN

Measure Date Value
2010 : EQUITY BANK 401K PLAN 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-04-15$0
Total transfer of assets from this plan2010-04-15$1,183,964
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-04-15$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-04-15$8,842
Total income from all sources (including contributions)2010-04-15$165,129
Total loss/gain on sale of assets2010-04-15$0
Total of all expenses incurred2010-04-15$41,709
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-04-15$28,976
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-04-15$78,150
Value of total assets at end of year2010-04-15$0
Value of total assets at beginning of year2010-04-15$1,069,115
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-04-15$12,733
Total interest from all sources2010-04-15$0
Total dividends received (eg from common stock, registered investment company shares)2010-04-15$1,384
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-04-15No
Total dividends received from registered investment company shares (eg mutual funds)2010-04-15$1,384
Was this plan covered by a fidelity bond2010-04-15No
If this is an individual account plan, was there a blackout period2010-04-15No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-04-15$0
Were there any nonexempt tranactions with any party-in-interest2010-04-15No
Contributions received from participants2010-04-15$42,412
Participant contributions at beginning of year2010-04-15$3,277
Participant contributions at beginning of year2010-04-15$8,650
Income. Received or receivable in cash from other sources (including rollovers)2010-04-15$8,568
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2010-04-15$8,571
Administrative expenses (other) incurred2010-04-15$12,733
Total non interest bearing cash at end of year2010-04-15$0
Total non interest bearing cash at beginning of year2010-04-15$691
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-04-15No
Value of net income/loss2010-04-15$123,420
Value of net assets at end of year (total assets less liabilities)2010-04-15$0
Value of net assets at beginning of year (total assets less liabilities)2010-04-15$1,060,273
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-04-15No
Were any loans by the plan or fixed income obligations due to the plan in default2010-04-15No
Were any leases to which the plan was party in default or uncollectible2010-04-15No
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-04-15$989,997
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-04-15$50,461
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-04-15$50,461
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-04-15$85,595
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-04-15No
Was there a failure to transmit to the plan any participant contributions2010-04-15No
Has the plan failed to provide any benefit when due under the plan2010-04-15No
Contributions received in cash from employer2010-04-15$27,170
Employer contributions (assets) at beginning of year2010-04-15$16,039
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-04-15$28,976
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32010-04-15No
Liabilities. Value of benefit claims payable at beginning of year2010-04-15$271
Did the plan have assets held for investment2010-04-15No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-04-15No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-04-15No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-04-15Yes
Opinion of an independent qualified public accountant for this plan2010-04-15Disclaimer
Accountancy firm name2010-04-15MAYER HOFFMAN MCCANN P.C.
Accountancy firm EIN2010-04-15431947695
2009 : EQUITY BANK 401K PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for EQUITY BANK 401K PLAN

2010: EQUITY BANK 401K PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingYes
2010-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: EQUITY BANK 401K PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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