First Palmetto Bank Retirement Plan — Form 5500 plan (First Palmetto 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, First Palmetto Bank Retirement Plan is a benefit plan reported by First Palmetto Bank under EIN 57-0921408 and plan number 002. The latest loaded filing year is 2023. The filing reports 265 participants and $14,460,883 in end-of-year plan assets, where available in the loaded dataset.

Form 5500 plan profile · 2023

Key reported metrics

Net assets (EOY)$14.5MPlan net assets, end of year$14,460,836
Participants265Covered participants reported
Assets / participant$54.6KComputed: assets ÷ participants$54,569 (computed)
Provider compensation$3.1K1 Schedule C provider row(s)$3,061
Plan sponsor
First Palmetto Bank
EIN
57-0921408
Plan number
002
Plan type
2
Location
Camden, SC
Latest filing year
2023

Form 5500 filing history

Filings loaded for this plan
Filing yearParticipantsSchedulesFiling
2023265H, C20240723094301NAL0017933152001
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)$14.5M total assets
Net assets$14.5MLiabilities$47
Money in vs. money out
Total income / additions$2.1M
Total expenses$1.6M
Benefits paid / distributions$1.5M
Contributions
Employer$1.1M
Participant$556.4K
Full reported line items

Net assets

Total assets (EOY)
$14,460,883
Total liabilities (EOY)
$47
Net assets (EOY)
$14,460,836
Net assets (BOY)
$13,939,907

Income & contributions

Employer contributions
$1,129,182
Participant contributions
$556,380
Total contributions
$1,746,006
Total income / additions
$2,082,193

Expenses & distributions

Benefits paid
$1,523,180
Administrative expenses
$38,084
Total expenses
$1,561,264
Net increase / (decrease)
$520,929
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.

Contribution share (employer vs. participant)
Employer 67%Participant 33%
Total expenses ÷ net assets11%Computed ratio
Benefits paid ÷ total income73%Computed ratio
Provider comp. ÷ net assets0%Computed ratio

Service provider compensation (Schedule C)

Reported service provider compensation
ProviderServiceDirect comp.Indirect comp.Year
John Hancock Life Insurance CompanyRECORDKEEPER$3,061$02023

Related Form 5500 pages