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COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameCOMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN
Plan identification number 002

COMMUNITY FIRST BANK 401(K) PROFIT SHARING 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

COMMUNITY FIRST BANK has sponsored the creation of one or more 401k plans.

Company Name:COMMUNITY FIRST BANK
Employer identification number (EIN):390176540
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01TAMMY NELSON
0022016-01-01TAMMY NELSON2017-07-19 TAMMY NELSON2017-07-19
0022015-01-01TAMMY NELSON2016-07-11
0022014-01-01TAMMY NELSON2015-07-17 TAMMY NELSON2015-07-17
0022013-01-01TAMMY NELSON2014-06-11 TAMMY NELSON2014-06-11
0022012-01-01TAMMY NELSON2013-07-29 TAMMY NELSON2013-07-29
0022011-01-01NATALIE TOLLEFSON2012-07-17
0022010-01-01CHARMAIN WEISERT2011-07-15

Plan Statistics for COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN

Measure Date Value
2022: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01124
Total number of active participants reported on line 7a of the Form 55002022-01-01107
Number of retired or separated participants receiving benefits2022-01-012
Number of other retired or separated participants entitled to future benefits2022-01-0118
Total of all active and inactive participants2022-01-01127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01127
Number of participants with account balances2022-01-01125
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01122
Total number of active participants reported on line 7a of the Form 55002021-01-01109
Number of retired or separated participants receiving benefits2021-01-012
Number of other retired or separated participants entitled to future benefits2021-01-0113
Total of all active and inactive participants2021-01-01124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01124
Number of participants with account balances2021-01-01119
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01120
Total number of active participants reported on line 7a of the Form 55002020-01-01104
Number of retired or separated participants receiving benefits2020-01-011
Number of other retired or separated participants entitled to future benefits2020-01-0117
Total of all active and inactive participants2020-01-01122
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01122
Number of participants with account balances2020-01-01115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01118
Total number of active participants reported on line 7a of the Form 55002019-01-01102
Number of retired or separated participants receiving benefits2019-01-011
Number of other retired or separated participants entitled to future benefits2019-01-0117
Total of all active and inactive participants2019-01-01120
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01120
Number of participants with account balances2019-01-01107
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01128
Total number of active participants reported on line 7a of the Form 55002018-01-0199
Number of retired or separated participants receiving benefits2018-01-010
Number of other retired or separated participants entitled to future benefits2018-01-0119
Total of all active and inactive participants2018-01-01118
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01118
Number of participants with account balances2018-01-01107
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01122
Total number of active participants reported on line 7a of the Form 55002017-01-01103
Number of retired or separated participants receiving benefits2017-01-013
Number of other retired or separated participants entitled to future benefits2017-01-0122
Total of all active and inactive participants2017-01-01128
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01128
Number of participants with account balances2017-01-01115
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010

Financial Data on COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-1,057,133
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$204,026
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$143,961
Value of total corrective distributions2022-12-31$9,551
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$703,425
Value of total assets at end of year2022-12-31$10,542,787
Value of total assets at beginning of year2022-12-31$11,803,946
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$50,514
Total interest from all sources2022-12-31$3,334
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Administrative expenses professional fees incurred2022-12-31$50,514
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$5,500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$556,288
Participant contributions at end of year2022-12-31$39,087
Participant contributions at beginning of year2022-12-31$61,887
Participant contributions at end of year2022-12-31$21,408
Participant contributions at beginning of year2022-12-31$18,456
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$4,626
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-1,261,159
Value of net assets at end of year (total assets less liabilities)2022-12-31$10,542,787
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$11,803,946
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$10,402,780
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$11,609,699
Interest on participant loans2022-12-31$2,440
Value of interest in common/collective trusts at end of year2022-12-31$5,999
Value of interest in common/collective trusts at beginning of year2022-12-31$6,053
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$67,818
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$103,634
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$103,634
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2022-12-31$894
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-1,763,892
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$142,511
Employer contributions (assets) at end of year2022-12-31$5,695
Employer contributions (assets) at beginning of year2022-12-31$4,217
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$143,961
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31MBE CPAS, LLP
Accountancy firm EIN2022-12-31200794302
2021 : COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$2,067,754
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$817,409
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$758,603
Value of total corrective distributions2021-12-31$8,054
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$689,820
Value of total assets at end of year2021-12-31$11,803,946
Value of total assets at beginning of year2021-12-31$10,553,601
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$50,752
Total interest from all sources2021-12-31$3,807
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Administrative expenses professional fees incurred2021-12-31$50,752
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$4,750,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$490,137
Participant contributions at end of year2021-12-31$61,887
Participant contributions at beginning of year2021-12-31$81,977
Participant contributions at end of year2021-12-31$18,456
Participant contributions at beginning of year2021-12-31$15,433
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$70,485
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$1,250,345
Value of net assets at end of year (total assets less liabilities)2021-12-31$11,803,946
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$10,553,601
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$11,609,699
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$10,192,190
Interest on participant loans2021-12-31$3,739
Value of interest in common/collective trusts at end of year2021-12-31$6,053
Value of interest in common/collective trusts at beginning of year2021-12-31$5,412
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$103,634
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$253,943
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$253,943
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2021-12-31$68
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$1,374,127
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$129,198
Employer contributions (assets) at end of year2021-12-31$4,217
Employer contributions (assets) at beginning of year2021-12-31$4,646
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$758,603
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Disclaimer
Accountancy firm name2021-12-31MBE CPAS, LLP
Accountancy firm EIN2021-12-31200794302
2020 : COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$2,024,244
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$152,247
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$109,844
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$643,474
Value of total assets at end of year2020-12-31$10,553,601
Value of total assets at beginning of year2020-12-31$8,681,604
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$42,403
Total interest from all sources2020-12-31$4,580
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Administrative expenses professional fees incurred2020-12-31$42,403
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$4,750,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$467,167
Participant contributions at end of year2020-12-31$81,977
Participant contributions at beginning of year2020-12-31$82,144
Participant contributions at end of year2020-12-31$15,433
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$50,096
Total non interest bearing cash at beginning of year2020-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$1,871,997
Value of net assets at end of year (total assets less liabilities)2020-12-31$10,553,601
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$8,681,604
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$10,192,190
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$8,582,080
Interest on participant loans2020-12-31$4,320
Value of interest in common/collective trusts at end of year2020-12-31$5,412
Value of interest in common/collective trusts at beginning of year2020-12-31$5,669
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2020-12-31$253,943
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-12-31$11,564
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-12-31$11,564
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2020-12-31$260
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$1,376,190
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$126,211
Employer contributions (assets) at end of year2020-12-31$4,646
Employer contributions (assets) at beginning of year2020-12-31$147
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$109,844
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31MBE CPAS, LLP
Accountancy firm EIN2020-12-31200794302
2019 : COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$1,944,084
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$300,813
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$260,718
Value of total corrective distributions2019-12-31$711
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$511,075
Value of total assets at end of year2019-12-31$8,681,604
Value of total assets at beginning of year2019-12-31$7,038,333
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$39,384
Total interest from all sources2019-12-31$5,379
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Administrative expenses professional fees incurred2019-12-31$39,384
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$4,250,000
If this is an individual account plan, was there a blackout period2019-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$381,259
Participant contributions at end of year2019-12-31$82,144
Participant contributions at beginning of year2019-12-31$103,202
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$16,311
Total non interest bearing cash at end of year2019-12-31$0
Total non interest bearing cash at beginning of year2019-12-31$21
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$1,643,271
Value of net assets at end of year (total assets less liabilities)2019-12-31$8,681,604
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$7,038,333
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$8,582,080
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$6,925,718
Interest on participant loans2019-12-31$5,185
Value of interest in common/collective trusts at end of year2019-12-31$5,669
Value of interest in common/collective trusts at beginning of year2019-12-31$5,305
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2019-12-31$11,564
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2019-12-31$4,087
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2019-12-31$4,087
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2019-12-31$194
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$1,427,630
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$113,505
Employer contributions (assets) at end of year2019-12-31$147
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$260,718
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31MBE CPAS, LLP
Accountancy firm EIN2019-12-31200794302
2018 : COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2018 401k financial data
Total unrealized appreciation/depreciation of assets2018-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total income from all sources (including contributions)2018-12-31$-120,930
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$756,407
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$712,500
Value of total corrective distributions2018-12-31$4,005
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$457,906
Value of total assets at end of year2018-12-31$7,038,333
Value of total assets at beginning of year2018-12-31$7,915,670
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$39,902
Total interest from all sources2018-12-31$4,953
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Administrative expenses professional fees incurred2018-12-31$39,902
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$4,250,000
If this is an individual account plan, was there a blackout period2018-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Contributions received from participants2018-12-31$345,546
Participant contributions at end of year2018-12-31$103,202
Participant contributions at beginning of year2018-12-31$110,221
Income. Received or receivable in cash from other sources (including rollovers)2018-12-31$1,689
Total non interest bearing cash at end of year2018-12-31$21
Total non interest bearing cash at beginning of year2018-12-31$14,902
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-877,337
Value of net assets at end of year (total assets less liabilities)2018-12-31$7,038,333
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$7,915,670
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2018-12-31$6,925,718
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2018-12-31$7,778,994
Interest on participant loans2018-12-31$4,883
Value of interest in common/collective trusts at end of year2018-12-31$5,305
Value of interest in common/collective trusts at beginning of year2018-12-31$7,539
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2018-12-31$4,087
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2018-12-31$3,492
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2018-12-31$3,492
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2018-12-31$70
Net investment gain/loss from registered investment companies (e.g. mutual funds)2018-12-31$-583,789
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Contributions received in cash from employer2018-12-31$110,671
Employer contributions (assets) at beginning of year2018-12-31$522
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$712,500
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31Yes
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31MBE CPAS, LLP
Accountancy firm EIN2018-12-31200794302
2017 : COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2017 401k financial data
Total unrealized appreciation/depreciation of assets2017-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total income from all sources (including contributions)2017-12-31$1,656,500
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$335,138
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$298,794
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$467,109
Value of total assets at end of year2017-12-31$7,915,670
Value of total assets at beginning of year2017-12-31$6,594,308
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$36,344
Total interest from all sources2017-12-31$5,103
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31No
Administrative expenses professional fees incurred2017-12-31$36,344
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$4,250,000
If this is an individual account plan, was there a blackout period2017-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Contributions received from participants2017-12-31$329,198
Participant contributions at end of year2017-12-31$110,221
Participant contributions at beginning of year2017-12-31$99,814
Income. Received or receivable in cash from other sources (including rollovers)2017-12-31$30,188
Total non interest bearing cash at end of year2017-12-31$14,902
Total non interest bearing cash at beginning of year2017-12-31$16,902
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$1,321,362
Value of net assets at end of year (total assets less liabilities)2017-12-31$7,915,670
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$6,594,308
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2017-12-31$7,778,994
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2017-12-31$6,468,021
Interest on participant loans2017-12-31$5,067
Value of interest in common/collective trusts at end of year2017-12-31$7,539
Value of interest in common/collective trusts at beginning of year2017-12-31$6,642
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2017-12-31$3,492
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2017-12-31$2,929
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2017-12-31$2,929
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2017-12-31$36
Net investment gain/loss from registered investment companies (e.g. mutual funds)2017-12-31$1,184,288
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Contributions received in cash from employer2017-12-31$107,723
Employer contributions (assets) at end of year2017-12-31$522
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$298,794
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31MBE CPAS, LLP
Accountancy firm EIN2017-12-31200794302

Form 5500 Responses for COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN

2022: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: COMMUNITY FIRST BANK 401(K) PROFIT SHARING PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedYes
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planNo
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes

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