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GEORGIA COMMERCE BANK 401(K) PLAN 401k Plan overview

Plan NameGEORGIA COMMERCE BANK 401(K) PLAN
Plan identification number 001

GEORGIA COMMERCE BANK 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

GEORGIA COMMERCE BANK has sponsored the creation of one or more 401k plans.

Company Name:GEORGIA COMMERCE BANK
Employer identification number (EIN):260062776
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about GEORGIA COMMERCE BANK

Jurisdiction of Incorporation: Georgia Department of States Corporations Division
Incorporation Date:
Company Identification Number: 184360

More information about GEORGIA COMMERCE BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GEORGIA COMMERCE BANK 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01GREG RIZZUTO GREG RIZZUTO2017-06-01
0012015-01-01GREG RIZZUTO GREG RIZZUTO2017-01-17
0012014-01-01GREG RIZZUTO GREG RIZZUTO2015-07-10
0012013-01-01RODNEY HALL2014-04-29 RODNEY HALL2014-04-29
0012012-01-01RODNEY HALL2013-04-02 RODNEY HALL2013-04-02
0012011-01-01RODNEY HALL2012-05-11 RODNEY HALL2012-05-11
0012010-01-01RODNEY HALL2011-05-12 RODNEY HALL2011-05-12
0012009-01-01RODNEY HALL RODNEY HALL2010-08-03

Plan Statistics for GEORGIA COMMERCE BANK 401(K) PLAN

401k plan membership statisitcs for GEORGIA COMMERCE BANK 401(K) PLAN

Measure Date Value
2016: GEORGIA COMMERCE BANK 401(K) PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01144
Total number of active participants reported on line 7a of the Form 55002016-01-010
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-010
Total of all active and inactive participants2016-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-010
Number of participants with account balances2016-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: GEORGIA COMMERCE BANK 401(K) PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01154
Total number of active participants reported on line 7a of the Form 55002015-01-01129
Number of retired or separated participants receiving benefits2015-01-016
Number of other retired or separated participants entitled to future benefits2015-01-019
Total of all active and inactive participants2015-01-01144
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01144
Number of participants with account balances2015-01-0143
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-017
2014: GEORGIA COMMERCE BANK 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01149
Total number of active participants reported on line 7a of the Form 55002014-01-01135
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-0119
Total of all active and inactive participants2014-01-01154
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01154
Number of participants with account balances2014-01-01132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-0110
2009: GEORGIA COMMERCE BANK 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0131
Total number of active participants reported on line 7a of the Form 55002009-01-0131
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-012
Total of all active and inactive participants2009-01-0133
Total participants2009-01-0133
Number of participants with account balances2009-01-0132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-011

Financial Data on GEORGIA COMMERCE BANK 401(K) PLAN

Measure Date Value
2016 : GEORGIA COMMERCE BANK 401(K) PLAN 2016 401k financial data
Total income from all sources (including contributions)2016-08-31$10,552
Total of all expenses incurred2016-08-31$609,376
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-08-31$605,767
Value of total assets at end of year2016-08-31$0
Value of total assets at beginning of year2016-08-31$598,824
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-08-31$3,609
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-08-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2016-08-31$0
Was this plan covered by a fidelity bond2016-08-31Yes
Value of fidelity bond cover2016-08-31$5,000,000
If this is an individual account plan, was there a blackout period2016-08-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-08-31$0
Were there any nonexempt tranactions with any party-in-interest2016-08-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-08-31No
Value of net income/loss2016-08-31$-598,824
Value of net assets at end of year (total assets less liabilities)2016-08-31$0
Value of net assets at beginning of year (total assets less liabilities)2016-08-31$598,824
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-08-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-08-31No
Were any leases to which the plan was party in default or uncollectible2016-08-31No
Investment advisory and management fees2016-08-31$3,609
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-08-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-08-31$518,199
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2016-08-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2016-08-31$80,625
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-08-31$10,552
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-08-31No
Was there a failure to transmit to the plan any participant contributions2016-08-31No
Has the plan failed to provide any benefit when due under the plan2016-08-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-08-31$605,767
Did the plan have assets held for investment2016-08-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-08-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-08-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-08-31Yes
Opinion of an independent qualified public accountant for this plan2016-08-31Disclaimer
Accountancy firm name2016-08-31CROWE HORWATH, LLP
Accountancy firm EIN2016-08-31350921680
2015 : GEORGIA COMMERCE BANK 401(K) PLAN 2015 401k financial data
Total income from all sources (including contributions)2015-12-31$429,256
Total of all expenses incurred2015-12-31$6,140,039
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$5,943,927
Expenses. Certain deemed distributions of participant loans2015-12-31$162,367
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$535,552
Value of total assets at end of year2015-12-31$598,824
Value of total assets at beginning of year2015-12-31$6,309,607
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$33,745
Total interest from all sources2015-12-31$4,981
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2015-12-31$0
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$5,000,000
If this is an individual account plan, was there a blackout period2015-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Contributions received from participants2015-12-31$410,311
Participant contributions at end of year2015-12-31$0
Participant contributions at beginning of year2015-12-31$199,226
Participant contributions at end of year2015-12-31$0
Participant contributions at beginning of year2015-12-31$103
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$0
Other income not declared elsewhere2015-12-31$23,105
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-5,710,783
Value of net assets at end of year (total assets less liabilities)2015-12-31$598,824
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$6,309,607
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Investment advisory and management fees2015-12-31$33,745
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$518,199
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$5,649,241
Interest on participant loans2015-12-31$3,327
Income. Interest from loans (other than to participants)2015-12-31$1,830
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-12-31$43,472
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-12-31$43,472
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$-176
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2015-12-31$80,625
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2015-12-31$417,515
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-134,382
Net investment gain/loss from pooled separate accounts2015-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$125,241
Employer contributions (assets) at end of year2015-12-31$0
Employer contributions (assets) at beginning of year2015-12-31$50
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$5,943,927
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31Yes
Opinion of an independent qualified public accountant for this plan2015-12-31Disclaimer
Accountancy firm name2015-12-31CROWE HORWATH, LLP
Accountancy firm EIN2015-12-31350921680
2014 : GEORGIA COMMERCE BANK 401(K) PLAN 2014 401k financial data
Total income from all sources (including contributions)2014-12-31$1,472,007
Total of all expenses incurred2014-12-31$112,730
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$104,313
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$1,179,475
Value of total assets at end of year2014-12-31$6,309,607
Value of total assets at beginning of year2014-12-31$4,950,330
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$8,417
Total interest from all sources2014-12-31$11,259
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$5,000,000
If this is an individual account plan, was there a blackout period2014-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$877,148
Participant contributions at end of year2014-12-31$199,226
Participant contributions at beginning of year2014-12-31$189,765
Participant contributions at end of year2014-12-31$103
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$26,823
Other income not declared elsewhere2014-12-31$8,259
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$1,359,277
Value of net assets at end of year (total assets less liabilities)2014-12-31$6,309,607
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$4,950,330
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$0
Value of interest in pooled separate accounts at end of year2014-12-31$5,692,713
Value of interest in pooled separate accounts at beginning of year2014-12-31$4,369,688
Interest on participant loans2014-12-31$7,769
Interest earned on other investments2014-12-31$3,792
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2014-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2014-12-31$42,709
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2014-12-31$42,709
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2014-12-31$-302
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2014-12-31$417,515
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2014-12-31$348,168
Net investment gain/loss from registered investment companies (e.g. mutual funds)2014-12-31$273,014
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$275,504
Employer contributions (assets) at end of year2014-12-31$50
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$104,313
Contract administrator fees2014-12-31$8,417
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31CROWE HORWATH, LLP
Accountancy firm EIN2014-12-31350921680
2009 : GEORGIA COMMERCE BANK 401(K) PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for GEORGIA COMMERCE BANK 401(K) PLAN

2016: GEORGIA COMMERCE BANK 401(K) PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingYes
2016-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan benefit arrangement - TrustYes
2015: GEORGIA COMMERCE BANK 401(K) PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: GEORGIA COMMERCE BANK 401(K) PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes
2009: GEORGIA COMMERCE BANK 401(K) PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number875127
Policy instance 1
Insurance contract or identification number875127
Number of Individuals Covered43
Insurance policy start date2015-01-01
Insurance policy end date2015-12-31
Total amount of commissions paid to insurance brokerUSD $13,195
Commission paid to Insurance BrokerUSD $13,195
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerN/A
Insurance broker organization code?3
Insurance broker namePARK AVENUE SECURITIES LLC
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number875127
Policy instance 1
Insurance contract or identification number875127
Number of Individuals Covered132
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $13,437
Total amount of fees paid to insurance companyUSD $0
Commission paid to Insurance BrokerUSD $13,437
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerN/A
Insurance broker organization code?3
Insurance broker namePARK AVENUE SECURITIES LLC

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