FIRST BANCORP has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan ASHEVILLE SAVINGS BANK, S.S.B. EMPLOYEE STOCK OWNERSHIP PLAN
| Measure | Date | Value |
|---|
| 2018 : ASHEVILLE SAVINGS BANK, S.S.B. EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data |
|---|
| Unrealized appreciation/depreciation of other (non real estate) assets | 2018-11-30 | $2,390,945 |
| Total unrealized appreciation/depreciation of assets | 2018-11-30 | $2,390,945 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2018-11-30 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2018-11-30 | $0 |
| Total income from all sources (including contributions) | 2018-11-30 | $2,465,287 |
| Total loss/gain on sale of assets | 2018-11-30 | $22,098 |
| Total of all expenses incurred | 2018-11-30 | $19,772,811 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2018-11-30 | $19,772,811 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2018-11-30 | $0 |
| Value of total assets at end of year | 2018-11-30 | $0 |
| Value of total assets at beginning of year | 2018-11-30 | $17,307,524 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2018-11-30 | $0 |
| Total interest from all sources | 2018-11-30 | $2,342 |
| Total dividends received (eg from common stock, registered investment company shares) | 2018-11-30 | $49,902 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2018-11-30 | Yes |
| Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan | 2018-11-30 | $0 |
| Was this plan covered by a fidelity bond | 2018-11-30 | Yes |
| Value of fidelity bond cover | 2018-11-30 | $20,000,000 |
| If this is an individual account plan, was there a blackout period | 2018-11-30 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2018-11-30 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2018-11-30 | No |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2018-11-30 | $0 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2018-11-30 | $38,178 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2018-11-30 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2018-11-30 | $0 |
| Total non interest bearing cash at end of year | 2018-11-30 | $0 |
| Total non interest bearing cash at beginning of year | 2018-11-30 | $373 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2018-11-30 | No |
| Value of net income/loss | 2018-11-30 | $-17,307,524 |
| Value of net assets at end of year (total assets less liabilities) | 2018-11-30 | $0 |
| Value of net assets at beginning of year (total assets less liabilities) | 2018-11-30 | $17,307,524 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2018-11-30 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2018-11-30 | No |
| Were any leases to which the plan was party in default or uncollectible | 2018-11-30 | No |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2018-11-30 | $0 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2018-11-30 | $417,946 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2018-11-30 | $417,946 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2018-11-30 | $2,342 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2018-11-30 | No |
| Was there a failure to transmit to the plan any participant contributions | 2018-11-30 | No |
| Has the plan failed to provide any benefit when due under the plan | 2018-11-30 | No |
| Assets. Invements in employer securities at end of year | 2018-11-30 | $0 |
| Assets. Invements in employer securities at beginning of year | 2018-11-30 | $16,851,027 |
| Income. Dividends from common stock | 2018-11-30 | $49,902 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2018-11-30 | $19,772,811 |
| Did the plan have assets held for investment | 2018-11-30 | No |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2018-11-30 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2018-11-30 | Yes |
| Aggregate proceeds on sale of assets | 2018-11-30 | $145,577 |
| Aggregate carrying amount (costs) on sale of assets | 2018-11-30 | $123,479 |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2018-11-30 | No |
| Opinion of an independent qualified public accountant for this plan | 2018-11-30 | Unqualified |
| Accountancy firm name | 2018-11-30 | SMITH LEONARD PLLC |
| Accountancy firm EIN | 2018-11-30 | 205907591 |
| 2017 : ASHEVILLE SAVINGS BANK, S.S.B. EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k financial data |
|---|
| Unrealized appreciation/depreciation of other (non real estate) assets | 2017-12-31 | $7,076,605 |
| Total unrealized appreciation/depreciation of assets | 2017-12-31 | $7,076,605 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2017-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2017-12-31 | $3,054,223 |
| Expenses. Interest paid | 2017-12-31 | $80,770 |
| Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-102 | 2017-12-31 | $80,770 |
| Total income from all sources (including contributions) | 2017-12-31 | $8,147,162 |
| Total loss/gain on sale of assets | 2017-12-31 | $1,029,937 |
| Total of all expenses incurred | 2017-12-31 | $405,039 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2017-12-31 | $324,269 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2017-12-31 | $0 |
| Value of total assets at end of year | 2017-12-31 | $17,307,524 |
| Value of total assets at beginning of year | 2017-12-31 | $12,619,624 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2017-12-31 | $0 |
| Total interest from all sources | 2017-12-31 | $2,442 |
| Total dividends received (eg from common stock, registered investment company shares) | 2017-12-31 | $38,178 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2017-12-31 | No |
| Was this plan covered by a fidelity bond | 2017-12-31 | Yes |
| Value of fidelity bond cover | 2017-12-31 | $6,000,000 |
| If this is an individual account plan, was there a blackout period | 2017-12-31 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2017-12-31 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2017-12-31 | No |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2017-12-31 | $38,178 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2017-12-31 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2017-12-31 | $0 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2017-12-31 | $3,054,223 |
| Total non interest bearing cash at end of year | 2017-12-31 | $373 |
| Total non interest bearing cash at beginning of year | 2017-12-31 | $0 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2017-12-31 | No |
| Value of net income/loss | 2017-12-31 | $7,742,123 |
| Value of net assets at end of year (total assets less liabilities) | 2017-12-31 | $17,307,524 |
| Value of net assets at beginning of year (total assets less liabilities) | 2017-12-31 | $9,565,401 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2017-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2017-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2017-12-31 | No |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2017-12-31 | $417,946 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2017-12-31 | $0 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2017-12-31 | $0 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2017-12-31 | $2,442 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2017-12-31 | Yes |
| Was there a failure to transmit to the plan any participant contributions | 2017-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2017-12-31 | No |
| Assets. Invements in employer securities at end of year | 2017-12-31 | $16,851,027 |
| Assets. Invements in employer securities at beginning of year | 2017-12-31 | $12,619,624 |
| Income. Dividends from common stock | 2017-12-31 | $38,178 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2017-12-31 | $324,269 |
| Did the plan have assets held for investment | 2017-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2017-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2017-12-31 | No |
| Aggregate proceeds on sale of assets | 2017-12-31 | $3,552,202 |
| Aggregate carrying amount (costs) on sale of assets | 2017-12-31 | $2,522,265 |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2017-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2017-12-31 | Unqualified |
| Accountancy firm name | 2017-12-31 | SMITH LEONARD PLLC |
| Accountancy firm EIN | 2017-12-31 | 205907591 |
