2023 Form 5500 filing — First State Bank 401(K) Profit Sharing And Employee Stock Ownership Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241122122758NAL0003016944001) for First State Bank 401(K) Profit Sharing And Employee Stock Ownership Plan, reported by First State Bank, Gainesville, Texas under EIN 75-0270410 and plan number 002. It reports 401 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241122122758NAL0003016944001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- First State Bank, Gainesville, Texas
- EIN
- 75-0270410
- Plan number
- 002
- Location
- Gainesville, TX
- Participants
- 401
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $39,602,275
- Total liabilities (EOY)
- $2,550,160
- Net assets (EOY)
- $37,052,115
- Employer contributions
- $1,305,092
- Participant contributions
- $1,216,650
- Total income / additions
- $5,924,456
- Benefits paid
- $3,477,146
- Administrative expenses
- $86,187
- Total expenses
- $3,563,333
- Net increase / (decrease)
- $2,361,123
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $86,186 | $0 |
| Woodbury Financial Services | OTHER SERVICES | $0 | $34,339 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 |