First Reliance Bank Employee Stock Ownership Plan — Form 5500 plan (First Reliance 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 Reliance Bank Employee Stock Ownership Plan is a benefit plan reported by First Reliance Bank under EIN 58-2463842 and plan number 001. The latest loaded filing year is 2023. The filing reports 281 participants and $14,197,418 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- First Reliance Bank
- EIN
- 58-2463842
- Plan number
- 001
- Plan type
- 2
- Location
- Florence, SC
- Latest filing year
- 2023
- Participants
- 281
- End-of-year plan assets
- $14,197,418
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 281 | H, C | 20240917091109NAL0002563073001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $14,197,418
- Total liabilities (EOY)
- $682
- Net assets (EOY)
- $14,196,736
- Net assets (BOY)
- $12,348,311
Income & contributions
- Employer contributions
- $433,135
- Participant contributions
- $933,660
- Total contributions
- $1,413,731
- Total income / additions
- $2,648,390
Expenses & distributions
- Benefits paid
- $694,503
- Administrative expenses
- $35,477
- Total expenses
- $799,965
- Net increase / (decrease)
- $1,848,425
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Pentegra Retirement Services, Inc. | RECORD KEEPER | $35,477 | not reported in the loaded dataset | 2023 |