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NEW HORIZON BANK 401(K) PLAN 401k Plan overview

Plan NameNEW HORIZON BANK 401(K) PLAN
Plan identification number 001

NEW HORIZON BANK 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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

NEW HORIZON BANK, N.A. has sponsored the creation of one or more 401k plans.

Company Name:NEW HORIZON BANK, N.A.
Employer identification number (EIN):262754533
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NEW HORIZON BANK 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01HEATHER STEWART2024-10-06
0012022-01-01HEATHER STEWART2023-09-24
0012021-01-01ANJELICA STROUD2022-05-05
0012020-01-01MARY DEETH2021-05-14
0012019-01-01MARY DEETH2020-06-10
0012018-01-01MARY DEETH2019-05-30
0012017-01-01MARY DEETH2018-05-30
0012016-01-01MARY DEETH2017-05-05
0012015-01-01MARY DEETH2016-04-21
0012014-01-01MARY DEETH2015-06-10
0012013-01-01MARY DEETH2014-06-26
0012012-01-01MARY DEETH2013-06-18
0012011-01-01MARY DEETH2012-05-29
0012010-01-01KATHY GRASTY2011-03-28

Financial Data on NEW HORIZON BANK 401(K) PLAN

Measure Date Value
2025 : NEW HORIZON BANK 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-05-220
Total liabilities as of the end of the plan year2025-05-220
Total liabilities as of the beginning of the plan year2025-05-220
Total expenses incurred by plan in this plan year2025-05-2255309
Net assets as of the end of the plan year2025-05-221074394
Total assets as of the beginning of the plan year2025-05-22783682
Value of plan covered by a fidelity bond2025-05-2280000
Participant contributions to plan in this plan year2025-05-22133521
Value of participant loans at end of plan year2025-05-2234426
Other expenses paid from plan in this plan year2025-05-2210805
Other contributions to plan in this plan year2025-05-222794
Other income to plan in this plan year2025-05-22113090
Plan net income in this plan year2025-05-22290712
Net assets as of the end of the plan year2025-05-221074394
Net assets as of the beginning of the plan year2025-05-22783682
Employer contributions to plan in this plan year2025-05-2296616
Expensese paid to adminstrative service provicers from plan in this plan year2025-05-220
2022 : NEW HORIZON BANK 401(K) PLAN 2022 401k financial data
Total liabilities as of the end of the plan year2022-05-050
Total liabilities as of the beginning of the plan year2022-05-050
Total expenses incurred by plan in this plan year2022-05-055428
Net assets as of the end of the plan year2022-05-05915316
Total assets as of the beginning of the plan year2022-05-05731820
Value of plan covered by a fidelity bond2022-05-05500000
Participant contributions to plan in this plan year2022-05-0587983
Value of participant loans at end of plan year2022-05-0532021
Other expenses paid from plan in this plan year2022-05-050
Other contributions to plan in this plan year2022-05-051421
Other income to plan in this plan year2022-05-0599520
Plan net income in this plan year2022-05-05183496
Net assets as of the end of the plan year2022-05-05915316
Net assets as of the beginning of the plan year2022-05-05731820
Employer contributions to plan in this plan year2022-05-050
Expensese paid to adminstrative service provicers from plan in this plan year2022-05-05122

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