Highpoint Community Bank Profit Sharing Plan — Form 5500 plan (Highpoint Community 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, Highpoint Community Bank Profit Sharing Plan is a benefit plan reported by Highpoint Community Bank under EIN 38-0633620 and plan number 002. The latest loaded filing year is 2023. The filing reports 114 participants and $17,631,353 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$17.6MPlan net assets, end of year$17,631,353
Participants114Covered participants reported
Assets / participant$154.7KComputed: assets ÷ participants$154,661 (computed)
Provider compensation$25.5K3 Schedule C provider row(s)$25,492
- Plan sponsor
- Highpoint Community Bank
- EIN
- 38-0633620
- Plan number
- 002
- Plan type
- 2
- Location
- Hasting, MI
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 114 | H, C | 20240725164131NAL0014509745001 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$17.6M total assets
Net assets$17.6MLiabilities$0
Full reported line items
Net assets
- Total assets (EOY)
- $17,631,353
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $17,631,353
- Net assets (BOY)
- $16,757,395
Income & contributions
- Employer contributions
- $394,623
- Participant contributions
- $454,653
- Total contributions
- $871,833
- Total income / additions
- $2,952,086
Expenses & distributions
- Benefits paid
- $2,051,671
- Administrative expenses
- $26,457
- Total expenses
- $2,078,128
- Net increase / (decrease)
- $873,958
Computed from reported fields
Reported ratios
Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.
46%54%
Employer 46%Participant 54%
Total expenses ÷ net assets12%Computed ratio
Benefits paid ÷ total income69%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Transamerica Retirement Solutions | RECORDKEEPER | $22,847 | $0 | 2023 |
| Mesirow Financial, Inc. | PLAN INVESTMENT ADVISORY | $1,807 | not reported in the loaded dataset | 2023 |
| Watkins Ross & Co. | RECORDKEEPER | $838 | $0 | 2023 |