Paragon Bank 401(K) Employee Stock Ownership Plan — Form 5500 plan (Paragon Bank)
Plain-English plan 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, Paragon Bank 401(K) Employee Stock Ownership Plan is a benefit plan reported by Paragon Bank under EIN 20-1022853 and plan number 001. The latest loaded filing year is 2023. The filing reports 137 participants and $14,123,149 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Paragon Bank
- EIN
- 20-1022853
- Plan number
- 001
- Plan type
- 2
- Location
- Memphis, TN
- Latest filing year
- 2023
- Participants
- 137
- End-of-year plan assets
- $14,123,149
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 137 | H, C | 20241001094816NAL0003881459001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $14,123,149
- Total liabilities (EOY)
- $258,264
- Net assets (EOY)
- $13,864,885
- Net assets (BOY)
- $11,378,437
Income & contributions
- Employer contributions
- $548,670
- Participant contributions
- $724,955
- Total contributions
- $2,014,155
- Total income / additions
- $3,155,084
Expenses & distributions
- Benefits paid
- $593,390
- Administrative expenses
- $27,894
- Total expenses
- $668,636
- Net increase / (decrease)
- $2,486,448
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Independent Financial Partners | RIA | $26,883 | not reported in the loaded dataset | 2023 |
| John Hancock Usa | RECORDKEEPER | $336 | $0 | 2023 |