First American Bank Welfare Benefits Plan — Form 5500 plan (First American 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 American Bank Welfare Benefits Plan is a benefit plan reported by First American Bank under EIN 85-0020635 and plan number 501. The latest loaded filing year is 2023. The filing reports 188 participants and $201,727 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- First American Bank
- EIN
- 85-0020635
- Plan number
- 501
- Plan type
- 2
- Location
- Artesia, NM
- Latest filing year
- 2023
- Participants
- 188
- End-of-year plan assets
- $201,727
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 188 | H, C | 20241011173959NAL0012820579001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $201,727
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $201,727
- Net assets (BOY)
- $252,282
Income & contributions
- Employer contributions
- $1,655,000
- Participant contributions
- $638,798
- Total contributions
- $2,293,798
- Total income / additions
- $2,304,522
Expenses & distributions
- Benefits paid
- $1,743,959
- Administrative expenses
- $611,118
- Total expenses
- $2,355,077
- Net increase / (decrease)
- -$50,555
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Aon Corporation | NONE | $51,160 | not reported in the loaded dataset | 2023 |
| Bluecross Blueshield Of New Mexico | NONE | $1,663 | not reported in the loaded dataset | 2023 |