Plan Name | NARA BANK EMPLOYEE STOCK OWNERSHIP PLAN |
Plan identification number | 002 |
401k Plan Type | Defined Contribution Pension |
Plan Features/Benefits |
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Company Name: | NARA BANK |
Employer identification number (EIN): | 954170121 |
NAIC Classification: | 522110 |
NAIC Description: | Commercial Banking |
Additional information about NARA BANK
Jurisdiction of Incorporation: | California Department of State |
Incorporation Date: | 2004-12-13 |
Company Identification Number: | C2711572 |
Legal Registered Office Address: |
3731 Wilshire Blvd., Suite 1000 Los Angeles United States of America (USA) 90010 |
More information about NARA BANK
Plan id# | Filing Submission Date | Name of Administrator | Date Administrator Signed | Name of Company Sponsor | Date Sponsor Signed |
---|---|---|---|---|---|
002 | 2010-01-01 | KRISTY YUN | |||
002 | 2009-01-01 | JUNE REIFEISS | JUNE REIFEISS | 2010-08-11 | |
002 | 2009-01-01 | JUNE REIFEISS | JUNE REIFEISS | 2010-08-11 | |
002 | 2009-01-01 | JUNE REIFEISS | JUNE REIFEISS | 2010-08-11 | |
002 | 2009-01-01 | JUNE REIFEISS |
Measure | Date | Value |
---|---|---|
2010: NARA BANK EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k membership | ||
Total participants, beginning-of-year | 2010-01-01 | 485 |
Total number of active participants reported on line 7a of the Form 5500 | 2010-01-01 | 323 |
Number of retired or separated participants receiving benefits | 2010-01-01 | 1 |
Number of other retired or separated participants entitled to future benefits | 2010-01-01 | 86 |
Total of all active and inactive participants | 2010-01-01 | 410 |
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2010-01-01 | 0 |
Total participants | 2010-01-01 | 410 |
Number of participants with account balances | 2010-01-01 | 410 |
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2010-01-01 | 46 |
2009: NARA BANK EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k membership | ||
Total participants, beginning-of-year | 2009-01-01 | 478 |
Total number of active participants reported on line 7a of the Form 5500 | 2009-01-01 | 351 |
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 | 96 |
Total of all active and inactive participants | 2009-01-01 | 447 |
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2009-01-01 | 0 |
Total participants | 2009-01-01 | 447 |
Number of participants with account balances | 2009-01-01 | 447 |
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2009-01-01 | 54 |
Measure | Date | Value |
---|---|---|
2010 : NARA BANK EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k financial data | ||
Unrealized appreciation/depreciation of other (non real estate) assets | 2010-12-31 | $-251,804 |
Total unrealized appreciation/depreciation of assets | 2010-12-31 | $-251,804 |
Total transfer of assets to this plan | 2010-12-31 | $0 |
Total transfer of assets from this plan | 2010-12-31 | $0 |
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2010-12-31 | $0 |
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2010-12-31 | $0 |
Total income from all sources (including contributions) | 2010-12-31 | $-150,133 |
Total loss/gain on sale of assets | 2010-12-31 | $0 |
Total of all expenses incurred | 2010-12-31 | $42,598 |
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2010-12-31 | $42,598 |
Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2010-12-31 | $100,000 |
Value of total assets at end of year | 2010-12-31 | $1,633,148 |
Value of total assets at beginning of year | 2010-12-31 | $1,825,879 |
Total of administrative expenses incurred including professional, contract, advisory and management fees | 2010-12-31 | $0 |
Total interest from all sources | 2010-12-31 | $135 |
Total dividends received (eg from common stock, registered investment company shares) | 2010-12-31 | $1 |
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2010-12-31 | No |
Total dividends received from registered investment company shares (eg mutual funds) | 2010-12-31 | $1 |
Was this plan covered by a fidelity bond | 2010-12-31 | Yes |
Value of fidelity bond cover | 2010-12-31 | $10,000,000 |
If this is an individual account plan, was there a blackout period | 2010-12-31 | No |
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2010-12-31 | $2,037 |
Were there any nonexempt tranactions with any party-in-interest | 2010-12-31 | No |
Other income not declared elsewhere | 2010-12-31 | $1,535 |
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2010-12-31 | No |
Value of net income/loss | 2010-12-31 | $-192,731 |
Value of net assets at end of year (total assets less liabilities) | 2010-12-31 | $1,633,148 |
Value of net assets at beginning of year (total assets less liabilities) | 2010-12-31 | $1,825,879 |
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2010-12-31 | No |
Were any loans by the plan or fixed income obligations due to the plan in default | 2010-12-31 | No |
Were any leases to which the plan was party in default or uncollectible | 2010-12-31 | No |
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2010-12-31 | $29,020 |
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2010-12-31 | $29,980 |
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2010-12-31 | $29,980 |
Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2010-12-31 | $135 |
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2010-12-31 | Yes |
Was there a failure to transmit to the plan any participant contributions | 2010-12-31 | No |
Has the plan failed to provide any benefit when due under the plan | 2010-12-31 | No |
Assets. Invements in employer securities at end of year | 2010-12-31 | $1,604,128 |
Assets. Invements in employer securities at beginning of year | 2010-12-31 | $1,795,768 |
Contributions received in cash from employer | 2010-12-31 | $100,000 |
Employer contributions (assets) at end of year | 2010-12-31 | $0 |
Employer contributions (assets) at beginning of year | 2010-12-31 | $131 |
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2010-12-31 | $42,598 |
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3 | 2010-12-31 | No |
Liabilities. Value of benefit claims payable at end of year | 2010-12-31 | $0 |
Liabilities. Value of benefit claims payable at beginning of year | 2010-12-31 | $0 |
Did the plan have assets held for investment | 2010-12-31 | 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 | 2010-12-31 | No |
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2010-12-31 | No |
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2010-12-31 | No |
Opinion of an independent qualified public accountant for this plan | 2010-12-31 | Unqualified |
Accountancy firm name | 2010-12-31 | HOLTHOUSE, CARLIN & VAN TRIGT LLP |
Accountancy firm EIN | 2010-12-31 | 954345526 |
2009 : NARA BANK EMPLOYEE STOCK OWNERSHIP 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 | $8,733 |
2010: NARA BANK EMPLOYEE STOCK OWNERSHIP PLAN 2010 form 5500 responses | ||
---|---|---|
2010-01-01 | Type of plan entity | Single employer plan |
2010-01-01 | Submission has been amended | No |
2010-01-01 | This submission is the final filing | No |
2010-01-01 | This return/report is a short plan year return/report (less than 12 months) | No |
2010-01-01 | Plan is a collectively bargained plan | No |
2010-01-01 | Plan funding arrangement – Trust | Yes |
2010-01-01 | Plan benefit arrangement - Trust | Yes |
2009: NARA BANK EMPLOYEE STOCK OWNERSHIP 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 – Trust | Yes |
2009-01-01 | Plan benefit arrangement - Trust | Yes |