401k Plan data: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN plan

HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 401k Plan overview

Plan Name	HIGH POINT BANK AND TRUST COMPANY PENSION PLAN
Plan identification number	002

HIGH POINT BANK AND TRUST COMPANY PENSION PLAN Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name: PINNACLE BANK

Employer identification number (EIN): 621829917

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan HIGH POINT BANK AND TRUST COMPANY PENSION PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2017-01-01 PATTI HARRIS
002 2016-01-01 PATTI HARRIS

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2017-01-01	PATTI HARRIS
002	2016-01-01	PATTI HARRIS

Plan Statistics for HIGH POINT BANK AND TRUST COMPANY PENSION PLAN

401k plan membership statisitcs for HIGH POINT BANK AND TRUST COMPANY PENSION PLAN

Measure Date Value
2017: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2017 401k membership
Total participants, beginning-of-year 2017-01-01 133
Total number of active participants reported on line 7a of the Form 5500 2017-01-01 0
Number of retired or separated participants receiving benefits 2017-01-01 0
Number of other retired or separated participants entitled to future benefits 2017-01-01 0
Total of all active and inactive participants 2017-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2017-01-01 0
Total participants 2017-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2017-01-01 0
2016: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2016 401k membership
Market value of plan assets 2016-12-31 21,303,574
Acturial value of plan assets 2016-12-31 22,628,348
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 8,497,062
Number of terminated vested participants 2016-12-31 46
Fundng target for terminated vested participants 2016-12-31 1,595,985
Active participant vested funding target 2016-12-31 8,287,485
Number of active participants 2016-12-31 139
Total funding liabilities for active participants 2016-12-31 8,851,931
Total participant count 2016-12-31 279
Total funding target for all participants 2016-12-31 18,944,978
Balance at beginning of prior year after applicable adjustments 2016-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 4,011,303
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 0
Prefunding balanced used to offset prior years funding requirement 2016-12-31 0
Amount remaining of carryover balance 2016-12-31 0
Amount remaining of prefunding balance 2016-12-31 4,011,303
Present value of excess contributions 2016-12-31 237,019
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 251,880
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 0
Balance of prefunding at beginning of current year 2016-12-31 3,985,230
Total employer contributions 2016-12-31 0
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 0
Unpaid minimum required contributions for all prior years 2016-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 0
Minimum required contributions for current year target normal cost 2016-12-31 813,835
Net shortfall amortization installment of oustanding balance 2016-12-31 301,860
Waiver amortization installment 2016-12-31 0
Waived amount of outstanding balance 2016-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 863,709
Carryover balance elected to use to offset funding requirement 2016-12-31 0
Prefunding balance elected to use to offset funding requirement 2016-12-31 863,709
Additional cash requirement 2016-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for all years 2016-12-31 0
Total participants, beginning-of-year 2016-01-01 279
Total number of active participants reported on line 7a of the Form 5500 2016-01-01 0
Number of retired or separated participants receiving benefits 2016-01-01 102
Number of other retired or separated participants entitled to future benefits 2016-01-01 25
Total of all active and inactive participants 2016-01-01 127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2016-01-01 6
Total participants 2016-01-01 133
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2016-01-01 0

Measure	Date	Value
2017: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2017 401k membership
Total participants, beginning-of-year	2017-01-01	133
Total number of active participants reported on line 7a of the Form 5500	2017-01-01	0
Number of retired or separated participants receiving benefits	2017-01-01	0
Number of other retired or separated participants entitled to future benefits	2017-01-01	0
Total of all active and inactive participants	2017-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2017-01-01	0
Total participants	2017-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2017-01-01	0
2016: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2016 401k membership
Market value of plan assets	2016-12-31	21,303,574
Acturial value of plan assets	2016-12-31	22,628,348
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	8,497,062
Number of terminated vested participants	2016-12-31	46
Fundng target for terminated vested participants	2016-12-31	1,595,985
Active participant vested funding target	2016-12-31	8,287,485
Number of active participants	2016-12-31	139
Total funding liabilities for active participants	2016-12-31	8,851,931
Total participant count	2016-12-31	279
Total funding target for all participants	2016-12-31	18,944,978
Balance at beginning of prior year after applicable adjustments	2016-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	4,011,303
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	0
Prefunding balanced used to offset prior years funding requirement	2016-12-31	0
Amount remaining of carryover balance	2016-12-31	0
Amount remaining of prefunding balance	2016-12-31	4,011,303
Present value of excess contributions	2016-12-31	237,019
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	251,880
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	0
Balance of prefunding at beginning of current year	2016-12-31	3,985,230
Total employer contributions	2016-12-31	0
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	0
Unpaid minimum required contributions for all prior years	2016-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	0
Minimum required contributions for current year target normal cost	2016-12-31	813,835
Net shortfall amortization installment of oustanding balance	2016-12-31	301,860
Waiver amortization installment	2016-12-31	0
Waived amount of outstanding balance	2016-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	863,709
Carryover balance elected to use to offset funding requirement	2016-12-31	0
Prefunding balance elected to use to offset funding requirement	2016-12-31	863,709
Additional cash requirement	2016-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for all years	2016-12-31	0
Total participants, beginning-of-year	2016-01-01	279
Total number of active participants reported on line 7a of the Form 5500	2016-01-01	0
Number of retired or separated participants receiving benefits	2016-01-01	102
Number of other retired or separated participants entitled to future benefits	2016-01-01	25
Total of all active and inactive participants	2016-01-01	127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2016-01-01	6
Total participants	2016-01-01	133
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2016-01-01	0

Financial Data on HIGH POINT BANK AND TRUST COMPANY PENSION PLAN

Measure	Date	Value
2017 : HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2017 401k financial data
Total unrealized appreciation/depreciation of assets	2017-03-07	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2017-03-07	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2017-03-07	$0
Total income from all sources (including contributions)	2017-03-07	$5,491,879
Total loss/gain on sale of assets	2017-03-07	$0
Total of all expenses incurred	2017-03-07	$17,682,351
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2017-03-07	$17,645,721
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2017-03-07	$5,583,976
Value of total assets at end of year	2017-03-07	$0
Value of total assets at beginning of year	2017-03-07	$12,190,472
Total of administrative expenses incurred including professional, contract, advisory and management fees	2017-03-07	$36,630
Total interest from all sources	2017-03-07	$7,061
Total dividends received (eg from common stock, registered investment company shares)	2017-03-07	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2017-03-07	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2017-03-07	$0
Was this plan covered by a fidelity bond	2017-03-07	Yes
Value of fidelity bond cover	2017-03-07	$6,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2017-03-07	$0
Were there any nonexempt tranactions with any party-in-interest	2017-03-07	No
Value of other receiveables (less allowance for doubtful accounts) at end of year	2017-03-07	$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2017-03-07	$4,086
Other income not declared elsewhere	2017-03-07	$-99,158
Administrative expenses (other) incurred	2017-03-07	$36,630
Total non interest bearing cash at end of year	2017-03-07	$0
Total non interest bearing cash at beginning of year	2017-03-07	$100
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2017-03-07	No
Value of net income/loss	2017-03-07	$-12,190,472
Value of net assets at end of year (total assets less liabilities)	2017-03-07	$0
Value of net assets at beginning of year (total assets less liabilities)	2017-03-07	$12,190,472
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2017-03-07	No
Were any loans by the plan or fixed income obligations due to the plan in default	2017-03-07	No
Were any leases to which the plan was party in default or uncollectible	2017-03-07	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2017-03-07	$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2017-03-07	$12,186,286
Income. Interest from US Government securities	2017-03-07	$7,061
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2017-03-07	Yes
Was there a failure to transmit to the plan any participant contributions	2017-03-07	No
Has the plan failed to provide any benefit when due under the plan	2017-03-07	No
Contributions received in cash from employer	2017-03-07	$5,583,976
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2017-03-07	$17,645,721
Did the plan have assets held for investment	2017-03-07	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	2017-03-07	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2017-03-07	Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2017-03-07	Yes
Opinion of an independent qualified public accountant for this plan	2017-03-07	Disclaimer
Accountancy firm name	2017-03-07	DIXON HUGHES GOODMAN LLP
Accountancy firm EIN	2017-03-07	560747981
2016 : HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2016 401k financial data
Total unrealized appreciation/depreciation of assets	2016-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2016-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2016-12-31	$0
Total income from all sources (including contributions)	2016-12-31	$76,060
Total loss/gain on sale of assets	2016-12-31	$1,011,799
Total of all expenses incurred	2016-12-31	$9,190,161
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2016-12-31	$9,082,904
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2016-12-31	$0
Value of total assets at end of year	2016-12-31	$12,190,472
Value of total assets at beginning of year	2016-12-31	$21,304,573
Total of administrative expenses incurred including professional, contract, advisory and management fees	2016-12-31	$107,257
Total interest from all sources	2016-12-31	$52,791
Total dividends received (eg from common stock, registered investment company shares)	2016-12-31	$137,335
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2016-12-31	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2016-12-31	$0
Total dividends received from registered investment company shares (eg mutual funds)	2016-12-31	$137,335
Administrative expenses professional fees incurred	2016-12-31	$107,257
Was this plan covered by a fidelity bond	2016-12-31	Yes
Value of fidelity bond cover	2016-12-31	$6,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2016-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2016-12-31	No
Value of other receiveables (less allowance for doubtful accounts) at end of year	2016-12-31	$4,086
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2016-12-31	$49,763
Other income not declared elsewhere	2016-12-31	$-49,540
Total non interest bearing cash at end of year	2016-12-31	$100
Total non interest bearing cash at beginning of year	2016-12-31	$100
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2016-12-31	No
Value of net income/loss	2016-12-31	$-9,114,101
Value of net assets at end of year (total assets less liabilities)	2016-12-31	$12,190,472
Value of net assets at beginning of year (total assets less liabilities)	2016-12-31	$21,304,573
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2016-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2016-12-31	No
Were any leases to which the plan was party in default or uncollectible	2016-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2016-12-31	$12,186,286
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2016-12-31	$21,254,710
Income. Interest from US Government securities	2016-12-31	$16,976
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2016-12-31	$35,815
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2016-12-31	$-1,076,325
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2016-12-31	Yes
Was there a failure to transmit to the plan any participant contributions	2016-12-31	No
Has the plan failed to provide any benefit when due under the plan	2016-12-31	No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2016-12-31	$9,082,904
Did the plan have assets held for investment	2016-12-31	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	2016-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2016-12-31	No
Aggregate proceeds on sale of assets	2016-12-31	$21,213,580
Aggregate carrying amount (costs) on sale of assets	2016-12-31	$20,201,781
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2016-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2016-12-31	Disclaimer
Accountancy firm name	2016-12-31	DIXON HUGHES GOODMAN LLP
Accountancy firm EIN	2016-12-31	560747981

Form 5500 Responses for HIGH POINT BANK AND TRUST COMPANY PENSION PLAN

2017: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2017 form 5500 responses
2017-01-01	Type of plan entity	Single employer plan
2017-01-01	Submission has been amended	No
2017-01-01	This submission is the final filing	Yes
2017-01-01	This return/report is a short plan year return/report (less than 12 months)	Yes
2017-01-01	Plan is a collectively bargained plan	No
2017-01-01	Plan funding arrangement – Trust	Yes
2017-01-01	Plan benefit arrangement - Trust	Yes
2016: HIGH POINT BANK AND TRUST COMPANY PENSION PLAN 2016 form 5500 responses
2016-01-01	Type of plan entity	Single employer plan
2016-01-01	Submission has been amended	No
2016-01-01	This submission is the final filing	No
2016-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2016-01-01	Plan is a collectively bargained plan	No
2016-01-01	Plan funding arrangement – Trust	Yes
2016-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	PINNACLE BANK
Employer identification number (EIN):	621829917
NAIC Classification:	522110
NAIC Description:	Commercial Banking