401k Plan data: MADISON BANK 401K PROFIT SHARING PLAN plan

MADISON BANK 401K PROFIT SHARING PLAN 401k Plan overview

Plan Name	MADISON BANK 401K PROFIT SHARING PLAN
Plan identification number	001

MADISON BANK 401K PROFIT SHARING PLAN Benefits

401k Plan Type

Defined 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

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

Company Name: MADISON BANK

Employer identification number (EIN): 611310228

NAIC Classification: 522110
NAIC Description: Commercial Banking

Additional information about MADISON BANK

Jurisdiction of Incorporation: Florida Department of State Division of Corporations

Incorporation Date: 1985-10-16

Company Identification Number: H81217

More information about MADISON BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MADISON BANK 401K PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2015-01-01 DEBRA G. NEAL
001 2014-01-01 DEBRA G. NEAL
001 2013-01-01 DEBRA G. NEAL
001 2012-01-01 DEBRA G. NEAL
001 2011-01-01 DEBRA G. NEAL
001 2009-01-01 DEBRA G. NEAL DEBRA G. NEAL 2010-10-14

Plan id#	Filing Submission Date	Name of Administrator	Name of Company Sponsor	Date Sponsor Signed
001	2015-01-01	DEBRA G. NEAL
001	2014-01-01	DEBRA G. NEAL
001	2013-01-01	DEBRA G. NEAL
001	2012-01-01	DEBRA G. NEAL
001	2011-01-01	DEBRA G. NEAL
001	2009-01-01	DEBRA G. NEAL	DEBRA G. NEAL	2010-10-14

Plan Statistics for MADISON BANK 401K PROFIT SHARING PLAN

401k plan membership statisitcs for MADISON BANK 401K PROFIT SHARING PLAN

Measure Date Value
2015: MADISON BANK 401K PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year 2015-01-01 38
Total number of active participants reported on line 7a of the Form 5500 2015-01-01 0
Number of retired or separated participants receiving benefits 2015-01-01 0
Number of other retired or separated participants entitled to future benefits 2015-01-01 0
Total of all active and inactive participants 2015-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2015-01-01 0
Total participants 2015-01-01 0
Number of participants with account balances 2015-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2015-01-01 1
2014: MADISON BANK 401K PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year 2014-01-01 51
Total number of active participants reported on line 7a of the Form 5500 2014-01-01 28
Number of retired or separated participants receiving benefits 2014-01-01 0
Number of other retired or separated participants entitled to future benefits 2014-01-01 9
Total of all active and inactive participants 2014-01-01 37
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2014-01-01 0
Total participants 2014-01-01 37
Number of participants with account balances 2014-01-01 28
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2014-01-01 4
2013: MADISON BANK 401K PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year 2013-01-01 55
Total number of active participants reported on line 7a of the Form 5500 2013-01-01 36
Number of retired or separated participants receiving benefits 2013-01-01 0
Number of other retired or separated participants entitled to future benefits 2013-01-01 12
Total of all active and inactive participants 2013-01-01 48
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2013-01-01 1
Total participants 2013-01-01 49
Number of participants with account balances 2013-01-01 32
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2013-01-01 9
2012: MADISON BANK 401K PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year 2012-01-01 54
Total number of active participants reported on line 7a of the Form 5500 2012-01-01 47
Number of other retired or separated participants entitled to future benefits 2012-01-01 5
Total of all active and inactive participants 2012-01-01 52
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2012-01-01 0
Total participants 2012-01-01 52
Number of participants with account balances 2012-01-01 34
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2012-01-01 3
2011: MADISON BANK 401K PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year 2011-01-01 58
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 49
Number of retired or separated participants receiving benefits 2011-01-01 0
Number of other retired or separated participants entitled to future benefits 2011-01-01 4
Total of all active and inactive participants 2011-01-01 53
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 0
Total participants 2011-01-01 53
Number of participants with account balances 2011-01-01 36
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 3
2009: MADISON BANK 401K PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year 2009-01-01 61
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 56
Number of retired or separated participants receiving benefits 2009-01-01 0
Number of other retired or separated participants entitled to future benefits 2009-01-01 4
Total of all active and inactive participants 2009-01-01 60
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 0
Total participants 2009-01-01 60
Number of participants with account balances 2009-01-01 42
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 6

Measure	Date	Value
2015: MADISON BANK 401K PROFIT SHARING PLAN 2015 401k membership
Total participants, beginning-of-year	2015-01-01	38
Total number of active participants reported on line 7a of the Form 5500	2015-01-01	0
Number of retired or separated participants receiving benefits	2015-01-01	0
Number of other retired or separated participants entitled to future benefits	2015-01-01	0
Total of all active and inactive participants	2015-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2015-01-01	0
Total participants	2015-01-01	0
Number of participants with account balances	2015-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2015-01-01	1
2014: MADISON BANK 401K PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year	2014-01-01	51
Total number of active participants reported on line 7a of the Form 5500	2014-01-01	28
Number of retired or separated participants receiving benefits	2014-01-01	0
Number of other retired or separated participants entitled to future benefits	2014-01-01	9
Total of all active and inactive participants	2014-01-01	37
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2014-01-01	0
Total participants	2014-01-01	37
Number of participants with account balances	2014-01-01	28
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2014-01-01	4
2013: MADISON BANK 401K PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year	2013-01-01	55
Total number of active participants reported on line 7a of the Form 5500	2013-01-01	36
Number of retired or separated participants receiving benefits	2013-01-01	0
Number of other retired or separated participants entitled to future benefits	2013-01-01	12
Total of all active and inactive participants	2013-01-01	48
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2013-01-01	1
Total participants	2013-01-01	49
Number of participants with account balances	2013-01-01	32
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2013-01-01	9
2012: MADISON BANK 401K PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year	2012-01-01	54
Total number of active participants reported on line 7a of the Form 5500	2012-01-01	47
Number of other retired or separated participants entitled to future benefits	2012-01-01	5
Total of all active and inactive participants	2012-01-01	52
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2012-01-01	0
Total participants	2012-01-01	52
Number of participants with account balances	2012-01-01	34
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2012-01-01	3
2011: MADISON BANK 401K PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year	2011-01-01	58
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	49
Number of retired or separated participants receiving benefits	2011-01-01	0
Number of other retired or separated participants entitled to future benefits	2011-01-01	4
Total of all active and inactive participants	2011-01-01	53
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	0
Total participants	2011-01-01	53
Number of participants with account balances	2011-01-01	36
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	3
2009: MADISON BANK 401K PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year	2009-01-01	61
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	56
Number of retired or separated participants receiving benefits	2009-01-01	0
Number of other retired or separated participants entitled to future benefits	2009-01-01	4
Total of all active and inactive participants	2009-01-01	60
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	0
Total participants	2009-01-01	60
Number of participants with account balances	2009-01-01	42
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	6

Financial Data on MADISON BANK 401K PROFIT SHARING PLAN

Measure	Date	Value
2015 : MADISON BANK 401K PROFIT SHARING PLAN 2015 401k financial data
Transfers to/from the plan	2015-08-03	$-1,043,045
Total income from all sources	2015-08-03	$99,582
Expenses. Total of all expenses incurred	2015-08-03	$250,409
Benefits paid (including direct rollovers)	2015-08-03	$244,882
Total plan assets at end of year	2015-08-03	$0
Total plan assets at beginning of year	2015-08-03	$1,193,872
Value of fidelity bond covering the plan	2015-08-03	$2,800,000
Total contributions received or receivable from participants	2015-08-03	$43,140
Other income received	2015-08-03	$32,438
Net income (gross income less expenses)	2015-08-03	$-150,827
Net plan assets at end of year (total assets less liabilities)	2015-08-03	$0
Net plan assets at beginning of year (total assets less liabilities)	2015-08-03	$1,193,872
Assets. Value of participant loans	2015-08-03	$0
Total contributions received or receivable from employer(s)	2015-08-03	$24,004
Value of corrective distributions	2015-08-03	$5,077
Expenses. Administrative service providers (salaries,fees and commissions)	2015-08-03	$450
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2015-08-03	$0
2014 : MADISON BANK 401K PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources	2014-12-31	$204,952
Expenses. Total of all expenses incurred	2014-12-31	$243,258
Benefits paid (including direct rollovers)	2014-12-31	$238,925
Total plan assets at end of year	2014-12-31	$1,193,872
Total plan assets at beginning of year	2014-12-31	$1,232,178
Value of fidelity bond covering the plan	2014-12-31	$2,800,000
Total contributions received or receivable from participants	2014-12-31	$77,737
Other income received	2014-12-31	$79,149
Net income (gross income less expenses)	2014-12-31	$-38,306
Net plan assets at end of year (total assets less liabilities)	2014-12-31	$1,193,872
Net plan assets at beginning of year (total assets less liabilities)	2014-12-31	$1,232,178
Assets. Value of participant loans	2014-12-31	$16,154
Total contributions received or receivable from employer(s)	2014-12-31	$48,066
Value of corrective distributions	2014-12-31	$3,603
Expenses. Administrative service providers (salaries,fees and commissions)	2014-12-31	$730
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2014-12-31	$0
2013 : MADISON BANK 401K PROFIT SHARING PLAN 2013 401k financial data
Total income from all sources	2013-12-31	$327,363
Expenses. Total of all expenses incurred	2013-12-31	$168,503
Benefits paid (including direct rollovers)	2013-12-31	$162,564
Total plan assets at end of year	2013-12-31	$1,232,178
Total plan assets at beginning of year	2013-12-31	$1,073,318
Value of fidelity bond covering the plan	2013-12-31	$2,800,000
Total contributions received or receivable from participants	2013-12-31	$84,502
Other income received	2013-12-31	$194,137
Net income (gross income less expenses)	2013-12-31	$158,860
Net plan assets at end of year (total assets less liabilities)	2013-12-31	$1,232,178
Net plan assets at beginning of year (total assets less liabilities)	2013-12-31	$1,073,318
Assets. Value of participant loans	2013-12-31	$11,821
Assets. Value of employer securities	2013-12-31	$0
Total contributions received or receivable from employer(s)	2013-12-31	$48,724
Value of corrective distributions	2013-12-31	$5,579
Expenses. Administrative service providers (salaries,fees and commissions)	2013-12-31	$360
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2013-12-31	$0
2012 : MADISON BANK 401K PROFIT SHARING PLAN 2012 401k financial data
Total income from all sources	2012-12-31	$318,311
Expenses. Total of all expenses incurred	2012-12-31	$75,739
Benefits paid (including direct rollovers)	2012-12-31	$75,659
Total plan assets at end of year	2012-12-31	$1,073,318
Total plan assets at beginning of year	2012-12-31	$830,746
Value of fidelity bond covering the plan	2012-12-31	$2,800,000
Total contributions received or receivable from participants	2012-12-31	$81,467
Contributions received from other sources (not participants or employers)	2012-12-31	$66,702
Other income received	2012-12-31	$115,091
Net income (gross income less expenses)	2012-12-31	$242,572
Net plan assets at end of year (total assets less liabilities)	2012-12-31	$1,073,318
Net plan assets at beginning of year (total assets less liabilities)	2012-12-31	$830,746
Assets. Value of participant loans	2012-12-31	$14,167
Assets. Value of employer securities	2012-12-31	$14,725
Total contributions received or receivable from employer(s)	2012-12-31	$55,051
Expenses. Administrative service providers (salaries,fees and commissions)	2012-12-31	$80
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2012-12-31	$0
2011 : MADISON BANK 401K PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources	2011-12-31	$132,760
Expenses. Total of all expenses incurred	2011-12-31	$135,714
Benefits paid (including direct rollovers)	2011-12-31	$135,694
Total plan assets at end of year	2011-12-31	$830,746
Total plan assets at beginning of year	2011-12-31	$833,700
Value of fidelity bond covering the plan	2011-12-31	$2,800,000
Total contributions received or receivable from participants	2011-12-31	$81,641
Other income received	2011-12-31	$-4,409
Net income (gross income less expenses)	2011-12-31	$-2,954
Net plan assets at end of year (total assets less liabilities)	2011-12-31	$830,746
Net plan assets at beginning of year (total assets less liabilities)	2011-12-31	$833,700
Assets. Value of participant loans	2011-12-31	$6,219
Assets. Value of employer securities	2011-12-31	$16,524
Total contributions received or receivable from employer(s)	2011-12-31	$55,528
Expenses. Administrative service providers (salaries,fees and commissions)	2011-12-31	$20
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2011-12-31	$0
2010 : MADISON BANK 401K PROFIT SHARING PLAN 2010 401k financial data
Total income from all sources	2010-12-31	$261,712
Expenses. Total of all expenses incurred	2010-12-31	$994,775
Benefits paid (including direct rollovers)	2010-12-31	$994,775
Total plan assets at end of year	2010-12-31	$833,700
Total plan assets at beginning of year	2010-12-31	$1,566,763
Value of fidelity bond covering the plan	2010-12-31	$2,800,000
Total contributions received or receivable from participants	2010-12-31	$82,611
Other income received	2010-12-31	$157,555
Net income (gross income less expenses)	2010-12-31	$-733,063
Net plan assets at end of year (total assets less liabilities)	2010-12-31	$833,700
Net plan assets at beginning of year (total assets less liabilities)	2010-12-31	$1,566,763
Assets. Value of participant loans	2010-12-31	$4,237
Assets. Value of employer securities	2010-12-31	$16,492
Total contributions received or receivable from employer(s)	2010-12-31	$21,546
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2010-12-31	$0
2009 : MADISON BANK 401K PROFIT SHARING PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2009-12-31	$0

Form 5500 Responses for MADISON BANK 401K PROFIT SHARING PLAN

2015: MADISON BANK 401K PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01	Type of plan entity	Single employer plan
2015-01-01	Submission has been amended	No
2015-01-01	This submission is the final filing	Yes
2015-01-01	This return/report is a short plan year return/report (less than 12 months)	Yes
2015-01-01	Plan is a collectively bargained plan	No
2015-01-01	Plan funding arrangement – Trust	Yes
2015-01-01	Plan benefit arrangement - Trust	Yes
2014: MADISON BANK 401K PROFIT SHARING PLAN 2014 form 5500 responses
2014-01-01	Type of plan entity	Single employer plan
2014-01-01	Submission has been amended	No
2014-01-01	This submission is the final filing	No
2014-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2014-01-01	Plan is a collectively bargained plan	No
2014-01-01	Plan funding arrangement – Trust	Yes
2014-01-01	Plan benefit arrangement - Trust	Yes
2013: MADISON BANK 401K PROFIT SHARING PLAN 2013 form 5500 responses
2013-01-01	Type of plan entity	Single employer plan
2013-01-01	Submission has been amended	No
2013-01-01	This submission is the final filing	No
2013-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2013-01-01	Plan is a collectively bargained plan	No
2013-01-01	Plan funding arrangement – Trust	Yes
2013-01-01	Plan benefit arrangement - Trust	Yes
2012: MADISON BANK 401K PROFIT SHARING PLAN 2012 form 5500 responses
2012-01-01	Type of plan entity	Single employer plan
2012-01-01	Submission has been amended	No
2012-01-01	This submission is the final filing	No
2012-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2012-01-01	Plan is a collectively bargained plan	No
2012-01-01	Plan funding arrangement – Trust	Yes
2012-01-01	Plan benefit arrangement - Trust	Yes
2011: MADISON BANK 401K PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01	Type of plan entity	Single employer plan
2011-01-01	Submission has been amended	No
2011-01-01	This submission is the final filing	No
2011-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2011-01-01	Plan is a collectively bargained plan	No
2011-01-01	Plan funding arrangement – Trust	Yes
2011-01-01	Plan benefit arrangement - Trust	Yes
2009: MADISON BANK 401K PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01	Type of plan entity	Single employer plan
2009-01-01	Submission has been amended	No
2009-01-01	This submission is the final filing	No
2009-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2009-01-01	Plan is a collectively bargained plan	No
2009-01-01	Plan funding arrangement – Insurance	Yes
2009-01-01	Plan funding arrangement – Trust	Yes
2009-01-01	Plan benefit arrangement – Insurance	Yes
2009-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	MADISON BANK
Employer identification number (EIN):	611310228
NAIC Classification:	522110
NAIC Description:	Commercial Banking

Jurisdiction of Incorporation:	Florida Department of State Division of Corporations
Incorporation Date:	1985-10-16
Company Identification Number:	H81217