401k Plan data: CITIZENS STATE BANK 401(K) SAVINGS PLAN plan

CITIZENS STATE BANK 401(K) SAVINGS PLAN 401k Plan overview

Plan Name	CITIZENS STATE BANK 401(K) SAVINGS PLAN
Plan identification number	002

CITIZENS STATE BANK 401(K) SAVINGS 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.
Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name: CITIZENS STATE BANK

Employer identification number (EIN): 740557930

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CITIZENS STATE BANK 401(K) SAVINGS PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01
002 2022-01-01
002 2021-01-01
002 2020-01-01
002 2019-01-01 KENNETH KNESEK 2020-05-06 KENNETH KNESEK 2020-05-06
002 2018-01-01 KENNETH KNESEK 2019-06-28 KENNETH KNESEK 2019-06-28
002 2017-01-01 KENNETH KNESEK 2018-05-07 KENNETH KNESEK 2018-05-07
002 2016-01-01 KENNETH KNESEK 2017-06-08 KENNETH KNESEK 2017-06-08
002 2015-01-01 KENNETH KNESEK 2016-04-21 KENNETH KNESEK 2016-04-21
002 2014-01-01 KENNETH KNESEK 2015-05-07 KENNETH KNESEK 2015-05-07
002 2013-01-01 KENNETH KNESEK 2014-06-20 KENNETH KNESEK 2014-06-20
002 2012-01-01 KENNETH KNESEK 2013-04-16 KENNETH KNESEK 2013-04-16
002 2011-01-01 KENNETH KNESEK 2012-02-14 KENNETH KNESEK 2012-02-14
002 2010-01-01 KENNETH KNESEK 2011-07-07 KENNETH KNESEK 2011-07-07

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01
002	2022-01-01
002	2021-01-01
002	2020-01-01
002	2019-01-01	KENNETH KNESEK	2020-05-06	KENNETH KNESEK	2020-05-06
002	2018-01-01	KENNETH KNESEK	2019-06-28	KENNETH KNESEK	2019-06-28
002	2017-01-01	KENNETH KNESEK	2018-05-07	KENNETH KNESEK	2018-05-07
002	2016-01-01	KENNETH KNESEK	2017-06-08	KENNETH KNESEK	2017-06-08
002	2015-01-01	KENNETH KNESEK	2016-04-21	KENNETH KNESEK	2016-04-21
002	2014-01-01	KENNETH KNESEK	2015-05-07	KENNETH KNESEK	2015-05-07
002	2013-01-01	KENNETH KNESEK	2014-06-20	KENNETH KNESEK	2014-06-20
002	2012-01-01	KENNETH KNESEK	2013-04-16	KENNETH KNESEK	2013-04-16
002	2011-01-01	KENNETH KNESEK	2012-02-14	KENNETH KNESEK	2012-02-14
002	2010-01-01	KENNETH KNESEK	2011-07-07	KENNETH KNESEK	2011-07-07

Plan Statistics for CITIZENS STATE BANK 401(K) SAVINGS PLAN

401k plan membership statisitcs for CITIZENS STATE BANK 401(K) SAVINGS PLAN

Measure Date Value
2023: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2023 401k membership
Total participants, beginning-of-year 2023-01-01 158
Total number of active participants reported on line 7a of the Form 5500 2023-01-01 142
Number of retired or separated participants receiving benefits 2023-01-01 0
Number of other retired or separated participants entitled to future benefits 2023-01-01 14
Total of all active and inactive participants 2023-01-01 156
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2023-01-01 0
Total participants 2023-01-01 156
Number of participants with account balances 2023-01-01 152
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2023-01-01 0
2022: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 147
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 139
Number of retired or separated participants receiving benefits 2022-01-01 0
Number of other retired or separated participants entitled to future benefits 2022-01-01 17
Total of all active and inactive participants 2022-01-01 156
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 156
Number of participants with account balances 2022-01-01 148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 0
2021: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 137
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 128
Number of retired or separated participants receiving benefits 2021-01-01 0
Number of other retired or separated participants entitled to future benefits 2021-01-01 12
Total of all active and inactive participants 2021-01-01 140
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 140
Number of participants with account balances 2021-01-01 134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 0
2020: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 136
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 129
Number of retired or separated participants receiving benefits 2020-01-01 0
Number of other retired or separated participants entitled to future benefits 2020-01-01 8
Total of all active and inactive participants 2020-01-01 137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 137
Number of participants with account balances 2020-01-01 132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0

Measure	Date	Value
2023: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2023 401k membership
Total participants, beginning-of-year	2023-01-01	158
Total number of active participants reported on line 7a of the Form 5500	2023-01-01	142
Number of retired or separated participants receiving benefits	2023-01-01	0
Number of other retired or separated participants entitled to future benefits	2023-01-01	14
Total of all active and inactive participants	2023-01-01	156
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2023-01-01	0
Total participants	2023-01-01	156
Number of participants with account balances	2023-01-01	152
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2023-01-01	0
2022: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	147
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	139
Number of retired or separated participants receiving benefits	2022-01-01	0
Number of other retired or separated participants entitled to future benefits	2022-01-01	17
Total of all active and inactive participants	2022-01-01	156
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	156
Number of participants with account balances	2022-01-01	148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	0
2021: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	137
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	128
Number of retired or separated participants receiving benefits	2021-01-01	0
Number of other retired or separated participants entitled to future benefits	2021-01-01	12
Total of all active and inactive participants	2021-01-01	140
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	140
Number of participants with account balances	2021-01-01	134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	0
2020: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	136
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	129
Number of retired or separated participants receiving benefits	2020-01-01	0
Number of other retired or separated participants entitled to future benefits	2020-01-01	8
Total of all active and inactive participants	2020-01-01	137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	137
Number of participants with account balances	2020-01-01	132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0

Financial Data on CITIZENS STATE BANK 401(K) SAVINGS PLAN

Measure	Date	Value
2023 : CITIZENS STATE BANK 401(K) SAVINGS PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets	2023-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2023-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2023-12-31	$0
Total income from all sources (including contributions)	2023-12-31	$4,252,952
Total loss/gain on sale of assets	2023-12-31	$0
Total of all expenses incurred	2023-12-31	$995,161
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2023-12-31	$931,230
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2023-12-31	$1,046,097
Value of total assets at end of year	2023-12-31	$20,364,260
Value of total assets at beginning of year	2023-12-31	$17,106,469
Total of administrative expenses incurred including professional, contract, advisory and management fees	2023-12-31	$63,931
Total interest from all sources	2023-12-31	$8,067
Total dividends received (eg from common stock, registered investment company shares)	2023-12-31	$58,314
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2023-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2023-12-31	$58,314
Was this plan covered by a fidelity bond	2023-12-31	Yes
Value of fidelity bond cover	2023-12-31	$6,000,000
If this is an individual account plan, was there a blackout period	2023-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2023-12-31	No
Contributions received from participants	2023-12-31	$606,655
Participant contributions at end of year	2023-12-31	$162,672
Participant contributions at beginning of year	2023-12-31	$125,038
Other income not declared elsewhere	2023-12-31	$486
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Value of net income/loss	2023-12-31	$3,257,791
Value of net assets at end of year (total assets less liabilities)	2023-12-31	$20,364,260
Value of net assets at beginning of year (total assets less liabilities)	2023-12-31	$17,106,469
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2023-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2023-12-31	No
Were any leases to which the plan was party in default or uncollectible	2023-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2023-12-31	$6,070,206
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2023-12-31	$4,539,190
Value of interest in pooled separate accounts at end of year	2023-12-31	$13,230,217
Value of interest in pooled separate accounts at beginning of year	2023-12-31	$11,506,064
Interest on participant loans	2023-12-31	$8,067
Value of interest in common/collective trusts at end of year	2023-12-31	$901,165
Value of interest in common/collective trusts at beginning of year	2023-12-31	$936,177
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2023-12-31	$1,041,307
Net investment gain/loss from pooled separate accounts	2023-12-31	$2,075,169
Net investment gain or loss from common/collective trusts	2023-12-31	$23,512
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2023-12-31	No
Was there a failure to transmit to the plan any participant contributions	2023-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2023-12-31	No
Contributions received in cash from employer	2023-12-31	$439,442
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2023-12-31	$931,230
Contract administrator fees	2023-12-31	$63,931
Did the plan have assets held for investment	2023-12-31	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	2023-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2023-12-31	No
Opinion of an independent qualified public accountant for this plan	2023-12-31	Unqualified
Accountancy firm name	2023-12-31	SEIDEL SCHROEDER
Accountancy firm EIN	2023-12-31	742052353
2022 : CITIZENS STATE BANK 401(K) SAVINGS PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets	2022-12-31	$0
Total transfer of assets to this plan	2022-12-31	$337,022
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total income from all sources (including contributions)	2022-12-31	$-2,864,955
Total loss/gain on sale of assets	2022-12-31	$0
Total of all expenses incurred	2022-12-31	$262,055
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$180,447
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$1,094,130
Value of total assets at end of year	2022-12-31	$17,106,469
Value of total assets at beginning of year	2022-12-31	$19,896,457
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$81,608
Total interest from all sources	2022-12-31	$7,096
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$57,251
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2022-12-31	$57,251
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$6,000,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$619,165
Participant contributions at end of year	2022-12-31	$125,038
Participant contributions at beginning of year	2022-12-31	$107,857
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$45,253
Other income not declared elsewhere	2022-12-31	$366
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$-3,127,010
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$17,106,469
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$19,896,457
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2022-12-31	$4,539,190
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2022-12-31	$5,186,361
Value of interest in pooled separate accounts at end of year	2022-12-31	$11,506,064
Value of interest in pooled separate accounts at beginning of year	2022-12-31	$14,009,566
Interest on participant loans	2022-12-31	$7,096
Value of interest in common/collective trusts at end of year	2022-12-31	$936,177
Value of interest in common/collective trusts at beginning of year	2022-12-31	$592,673
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2022-12-31	$-1,302,624
Net investment gain/loss from pooled separate accounts	2022-12-31	$-2,742,722
Net investment gain or loss from common/collective trusts	2022-12-31	$21,548
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	Yes
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$429,712
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$180,447
Contract administrator fees	2022-12-31	$81,608
Did the plan have assets held for investment	2022-12-31	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	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	SEIDEL SCHROEDER
Accountancy firm EIN	2022-12-31	742052353
2021 : CITIZENS STATE BANK 401(K) SAVINGS PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets	2021-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total income from all sources (including contributions)	2021-12-31	$3,912,438
Total loss/gain on sale of assets	2021-12-31	$0
Total of all expenses incurred	2021-12-31	$1,698,321
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2021-12-31	$1,603,399
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2021-12-31	$1,017,453
Value of total assets at end of year	2021-12-31	$19,896,457
Value of total assets at beginning of year	2021-12-31	$17,682,340
Total of administrative expenses incurred including professional, contract, advisory and management fees	2021-12-31	$94,922
Total interest from all sources	2021-12-31	$5,444
Total dividends received (eg from common stock, registered investment company shares)	2021-12-31	$36,178
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2021-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2021-12-31	$36,178
Was this plan covered by a fidelity bond	2021-12-31	Yes
Value of fidelity bond cover	2021-12-31	$6,000,000
If this is an individual account plan, was there a blackout period	2021-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2021-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2021-12-31	No
Contributions received from participants	2021-12-31	$561,465
Participant contributions at end of year	2021-12-31	$107,857
Participant contributions at beginning of year	2021-12-31	$71,461
Income. Received or receivable in cash from other sources (including rollovers)	2021-12-31	$90,302
Other income not declared elsewhere	2021-12-31	$322
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Value of net income/loss	2021-12-31	$2,214,117
Value of net assets at end of year (total assets less liabilities)	2021-12-31	$19,896,457
Value of net assets at beginning of year (total assets less liabilities)	2021-12-31	$17,682,340
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2021-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2021-12-31	No
Were any leases to which the plan was party in default or uncollectible	2021-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2021-12-31	$5,186,361
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2021-12-31	$4,853,408
Value of interest in pooled separate accounts at end of year	2021-12-31	$14,009,566
Value of interest in pooled separate accounts at beginning of year	2021-12-31	$12,326,054
Interest on participant loans	2021-12-31	$5,444
Value of interest in common/collective trusts at end of year	2021-12-31	$592,673
Value of interest in common/collective trusts at beginning of year	2021-12-31	$431,417
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2021-12-31	$770,651
Net investment gain/loss from pooled separate accounts	2021-12-31	$2,075,479
Net investment gain or loss from common/collective trusts	2021-12-31	$6,911
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2021-12-31	No
Was there a failure to transmit to the plan any participant contributions	2021-12-31	No
Has the plan failed to provide any benefit when due under the plan	2021-12-31	No
Contributions received in cash from employer	2021-12-31	$365,686
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2021-12-31	$1,603,399
Contract administrator fees	2021-12-31	$94,922
Did the plan have assets held for investment	2021-12-31	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	2021-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2021-12-31	No
Opinion of an independent qualified public accountant for this plan	2021-12-31	Unqualified
Accountancy firm name	2021-12-31	SEIDEL SCHROEDER
Accountancy firm EIN	2021-12-31	742052353
2020 : CITIZENS STATE BANK 401(K) SAVINGS PLAN 2020 401k financial data
Unrealized appreciation/depreciation of real estate assets	2020-12-31	$0
Unrealized appreciation/depreciation of other (non real estate) assets	2020-12-31	$0
Total unrealized appreciation/depreciation of assets	2020-12-31	$0
Total transfer of assets to this plan	2020-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2020-12-31	$0
Total income from all sources (including contributions)	2020-12-31	$3,942,607
Total loss/gain on sale of assets	2020-12-31	$0
Total of all expenses incurred	2020-12-31	$1,188,973
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2020-12-31	$1,114,916
Expenses. Certain deemed distributions of participant loans	2020-12-31	$0
Value of total corrective distributions	2020-12-31	$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2020-12-31	$837,463
Value of total assets at end of year	2020-12-31	$17,682,340
Value of total assets at beginning of year	2020-12-31	$14,928,706
Total of administrative expenses incurred including professional, contract, advisory and management fees	2020-12-31	$74,057
Total income from rents	2020-12-31	$0
Total interest from all sources	2020-12-31	$2,545
Total dividends received (eg from common stock, registered investment company shares)	2020-12-31	$42,581
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2020-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2020-12-31	$42,581
Administrative expenses professional fees incurred	2020-12-31	$0
Was this plan covered by a fidelity bond	2020-12-31	Yes
Value of fidelity bond cover	2020-12-31	$6,000,000
If this is an individual account plan, was there a blackout period	2020-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2020-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2020-12-31	No
Amount of non-exempt transactions with any party-in-interest	2020-12-31	$0
Contributions received from participants	2020-12-31	$489,730
Participant contributions at end of year	2020-12-31	$71,461
Participant contributions at beginning of year	2020-12-31	$29,000
Participant contributions at end of year	2020-12-31	$0
Participant contributions at beginning of year	2020-12-31	$0
Income. Received or receivable in cash from other sources (including rollovers)	2020-12-31	$921
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)	2020-12-31	$50
Value of other receiveables (less allowance for doubtful accounts) at end of year	2020-12-31	$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2020-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2020-12-31	$0
Other income not declared elsewhere	2020-12-31	$165
Administrative expenses (other) incurred	2020-12-31	$0
Liabilities. Value of operating payables at beginning of year	2020-12-31	$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	2020-12-31	No
Value of net income/loss	2020-12-31	$2,753,634
Value of net assets at end of year (total assets less liabilities)	2020-12-31	$17,682,340
Value of net assets at beginning of year (total assets less liabilities)	2020-12-31	$14,928,706
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2020-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2020-12-31	No
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year	2020-12-31	$0
Were any leases to which the plan was party in default or uncollectible	2020-12-31	No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year	2020-12-31	$0
Investment advisory and management fees	2020-12-31	$0
Value of interest in registered invesment companies (eg mutual funds) at end of year	2020-12-31	$4,853,408
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2020-12-31	$3,813,037
Value of interest in pooled separate accounts at end of year	2020-12-31	$12,326,054
Value of interest in pooled separate accounts at beginning of year	2020-12-31	$10,562,327
Interest on participant loans	2020-12-31	$2,545
Income. Interest from loans (other than to participants)	2020-12-31	$0
Interest earned on other investments	2020-12-31	$0
Income. Interest from US Government securities	2020-12-31	$0
Income. Interest from corporate debt instruments	2020-12-31	$0
Value of interest in common/collective trusts at end of year	2020-12-31	$431,417
Value of interest in common/collective trusts at beginning of year	2020-12-31	$524,342
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2020-12-31	$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2020-12-31	$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2020-12-31	$0
Expenses. Payments to insurance carriers foe the provision of benefits	2020-12-31	$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2020-12-31	$1,016,576
Net investment gain/loss from pooled separate accounts	2020-12-31	$2,040,628
Net investment gain or loss from common/collective trusts	2020-12-31	$2,649
Net gain/loss from 103.12 investment entities	2020-12-31	$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2020-12-31	No
Was there a failure to transmit to the plan any participant contributions	2020-12-31	No
Has the plan failed to provide any benefit when due under the plan	2020-12-31	No
Contributions received in cash from employer	2020-12-31	$346,812
Employer contributions (assets) at end of year	2020-12-31	$0
Employer contributions (assets) at beginning of year	2020-12-31	$0
Income. Dividends from preferred stock	2020-12-31	$0
Income. Dividends from common stock	2020-12-31	$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2020-12-31	$1,114,866
Contract administrator fees	2020-12-31	$74,057
Liabilities. Value of benefit claims payable at beginning of year	2020-12-31	$0
Did the plan have assets held for investment	2020-12-31	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	2020-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2020-12-31	No
Aggregate proceeds on sale of assets	2020-12-31	$0
Aggregate carrying amount (costs) on sale of assets	2020-12-31	$0
Liabilities. Value of acquisition indebtedness at beginning of year	2020-12-31	$0
Opinion of an independent qualified public accountant for this plan	2020-12-31	Disclaimer
Accountancy firm name	2020-12-31	SEIDEL SCHROEDER
Accountancy firm EIN	2020-12-31	742052353

Form 5500 Responses for CITIZENS STATE BANK 401(K) SAVINGS PLAN

2023: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2023 form 5500 responses
2023-01-01	Type of plan entity	Single employer plan
2023-01-01	This submission is the final filing	No
2023-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2023-01-01	Plan is a collectively bargained plan	No
2023-01-01	Plan funding arrangement – Insurance	Yes
2023-01-01	Plan funding arrangement – Trust	Yes
2023-01-01	Plan benefit arrangement – Insurance	Yes
2023-01-01	Plan benefit arrangement - Trust	Yes
2022: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	Yes
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Insurance	Yes
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2021: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Insurance	Yes
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement – Insurance	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: CITIZENS STATE BANK 401(K) SAVINGS PLAN 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	This submission is the final filing	No
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2020-01-01	Plan is a collectively bargained plan	No
2020-01-01	Plan funding arrangement – Insurance	Yes
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement – Insurance	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )

Policy contract number

428947

Policy instance

Insurance contract or identification number	428947
Number of Individuals Covered	156
Insurance policy start date	2023-01-01
Insurance policy end date	2023-12-31
Total amount of commissions paid to insurance broker	USD $17,892
Total amount of fees paid to insurance company	USD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )

Policy contract number

428947

Policy instance

Insurance contract or identification number	428947
Number of Individuals Covered	156
Insurance policy start date	2022-01-01
Insurance policy end date	2022-12-31
Total amount of commissions paid to insurance broker	USD $19,691
Total amount of fees paid to insurance company	USD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $19,691
Amount paid for insurance broker fees	0
Insurance broker organization code?	3

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )

Policy contract number

428947

Policy instance

Insurance contract or identification number	428947
Number of Individuals Covered	140
Insurance policy start date	2021-01-01
Insurance policy end date	2021-12-31
Total amount of commissions paid to insurance broker	USD $28,896
Total amount of fees paid to insurance company	USD $-358
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $28,896
Amount paid for insurance broker fees	-358
Additional information about fees paid to insurance broker	REFERRAL/SERVICE FEE
Insurance broker organization code?	3

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )

Policy contract number

428947

Policy instance

Insurance contract or identification number	428947
Number of Individuals Covered	137
Insurance policy start date	2020-01-01
Insurance policy end date	2020-12-31
Total amount of commissions paid to insurance broker	USD $20,932
Total amount of fees paid to insurance company	USD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $20,932
Amount paid for insurance broker fees	0
Insurance broker organization code?	3

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Company Name:	CITIZENS STATE BANK
Employer identification number (EIN):	740557930
NAIC Classification:	522110
NAIC Description:	Commercial Banking