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CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameCITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 001

CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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.
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • ESOP other than a leveraged ESOP - A completed Schedule E must be attached to a Form 5500 filed for an Employee Stock Ownership Plan (ESOP).
  • 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

CITIZENS BANK MINNESOTA has sponsored the creation of one or more 401k plans.

Company Name:CITIZENS BANK MINNESOTA
Employer identification number (EIN):410190880
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01SARA BODE SARA BODE2018-07-30
0012016-01-01SARA BODE SARA BODE2017-07-27
0012015-01-01SARA BODE SARA BODE2016-07-26
0012014-01-01SARA BODE SARA BODE2015-07-08
0012013-01-01SARA BODE SARA BODE2014-06-23
0012012-01-01SARA BODE LOU GEISTFELD2013-07-16
0012011-01-01SARA BODE LOU GEISTFELD2012-08-27

Plan Statistics for CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01136
Total number of active participants reported on line 7a of the Form 55002022-01-01115
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0129
Total of all active and inactive participants2022-01-01144
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01144
Number of participants with account balances2022-01-01134
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-011
2021: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01128
Total number of active participants reported on line 7a of the Form 55002021-01-01114
Number of retired or separated participants receiving benefits2021-01-017
Number of other retired or separated participants entitled to future benefits2021-01-0115
Total of all active and inactive participants2021-01-01136
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01136
Number of participants with account balances2021-01-01136
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-012
2020: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01106
Total number of active participants reported on line 7a of the Form 55002020-01-01108
Number of retired or separated participants receiving benefits2020-01-015
Number of other retired or separated participants entitled to future benefits2020-01-0115
Total of all active and inactive participants2020-01-01128
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01128
Number of participants with account balances2020-01-01121
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-015
2019: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01106
Total number of active participants reported on line 7a of the Form 55002019-01-0191
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0115
Total of all active and inactive participants2019-01-01106
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01106
Number of participants with account balances2019-01-0199
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-012
2018: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-01108
Total number of active participants reported on line 7a of the Form 55002018-01-0190
Number of retired or separated participants receiving benefits2018-01-013
Number of other retired or separated participants entitled to future benefits2018-01-0114
Total of all active and inactive participants2018-01-01107
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-01107
Number of participants with account balances2018-01-0199
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-013
2017: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k membership
Total participants, beginning-of-year2017-01-01103
Total number of active participants reported on line 7a of the Form 55002017-01-0190
Number of retired or separated participants receiving benefits2017-01-011
Number of other retired or separated participants entitled to future benefits2017-01-0116
Total of all active and inactive participants2017-01-01107
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-01107
Number of participants with account balances2017-01-0198
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-014
2016: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k membership
Total participants, beginning-of-year2016-01-01103
Total number of active participants reported on line 7a of the Form 55002016-01-0192
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0112
Total of all active and inactive participants2016-01-01104
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01104
Number of participants with account balances2016-01-0194
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-014
2015: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-01102
Total number of active participants reported on line 7a of the Form 55002015-01-0191
Number of other retired or separated participants entitled to future benefits2015-01-0112
Total of all active and inactive participants2015-01-01103
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01103
Number of participants with account balances2015-01-0195
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-012
2014: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-01101
Total number of active participants reported on line 7a of the Form 55002014-01-0192
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-0110
Total of all active and inactive participants2014-01-01102
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01102
Number of participants with account balances2014-01-0192
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-012
2013: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0189
Total number of active participants reported on line 7a of the Form 55002013-01-0188
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-0112
Total of all active and inactive participants2013-01-01100
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01100
Number of participants with account balances2013-01-0191
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-013
2012: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0194
Total number of active participants reported on line 7a of the Form 55002012-01-0177
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-0111
Total of all active and inactive participants2012-01-0188
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-0188
Number of participants with account balances2012-01-0178
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-011
2011: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0189
Total number of active participants reported on line 7a of the Form 55002011-01-0180
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0114
Total of all active and inactive participants2011-01-0194
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0194
Number of participants with account balances2011-01-0178
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-014

Financial Data on CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2022 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2022 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2022-12-31$110,904
Total unrealized appreciation/depreciation of assets2022-12-31$110,904
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$0
Total income from all sources (including contributions)2022-12-31$-315,801
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$1,228,330
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,146,971
Value of total corrective distributions2022-12-31$29,518
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,525,275
Value of total assets at end of year2022-12-31$16,377,872
Value of total assets at beginning of year2022-12-31$17,922,003
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$51,841
Total interest from all sources2022-12-31$3,522
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$313,072
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$235,358
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$3,000,000
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$501,258
Participant contributions at end of year2022-12-31$72,895
Participant contributions at beginning of year2022-12-31$78,717
Participant contributions at end of year2022-12-31$18,813
Participant contributions at beginning of year2022-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$399,097
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-1,544,131
Value of net assets at end of year (total assets less liabilities)2022-12-31$16,377,872
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$17,922,003
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$10,896,718
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$12,572,823
Interest on participant loans2022-12-31$3,522
Value of interest in common/collective trusts at end of year2022-12-31$660,995
Value of interest in common/collective trusts at beginning of year2022-12-31$487,128
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$288
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$288
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-2,268,574
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
Assets. Invements in employer securities at end of year2022-12-31$4,379,503
Assets. Invements in employer securities at beginning of year2022-12-31$4,783,047
Contributions received in cash from employer2022-12-31$624,920
Employer contributions (assets) at end of year2022-12-31$348,948
Employer contributions (assets) at beginning of year2022-12-31$0
Income. Dividends from common stock2022-12-31$77,714
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$1,146,971
Contract administrator fees2022-12-31$51,841
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 name2022-12-31ABDO LLP
Accountancy firm EIN2022-12-31411397419
2021 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2021 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2021-12-31$664,287
Total unrealized appreciation/depreciation of assets2021-12-31$664,287
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$3,256,973
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$4,585,986
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$4,525,729
Value of total corrective distributions2021-12-31$436
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,107,890
Value of total assets at end of year2021-12-31$17,922,003
Value of total assets at beginning of year2021-12-31$19,251,016
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$59,821
Total interest from all sources2021-12-31$2,993
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$1,670,007
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$1,585,510
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$3,000,000
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$491,230
Participant contributions at end of year2021-12-31$78,717
Participant contributions at beginning of year2021-12-31$51,463
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$77,457
Other income not declared elsewhere2021-12-31$49
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$-1,329,013
Value of net assets at end of year (total assets less liabilities)2021-12-31$17,922,003
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$19,251,016
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$12,572,823
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$13,900,779
Interest on participant loans2021-12-31$2,993
Value of interest in common/collective trusts at end of year2021-12-31$487,128
Value of interest in common/collective trusts at beginning of year2021-12-31$969,926
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$288
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$364
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$364
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$-199,607
Net investment gain or loss from common/collective trusts2021-12-31$11,354
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
Assets. Invements in employer securities at end of year2021-12-31$4,783,047
Assets. Invements in employer securities at beginning of year2021-12-31$4,327,882
Contributions received in cash from employer2021-12-31$539,203
Employer contributions (assets) at end of year2021-12-31$0
Employer contributions (assets) at beginning of year2021-12-31$602
Income. Dividends from common stock2021-12-31$84,497
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$4,525,729
Contract administrator fees2021-12-31$59,821
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 plan2021-12-31Unqualified
Accountancy firm name2021-12-31ABDO LLP
Accountancy firm EIN2021-12-31411397419
2020 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2020 401k financial data
Total income from all sources2020-12-31$4,249,963
Expenses. Total of all expenses incurred2020-12-31$873,514
Benefits paid (including direct rollovers)2020-12-31$815,276
Total plan assets at end of year2020-12-31$19,251,016
Total plan assets at beginning of year2020-12-31$15,874,567
Value of fidelity bond covering the plan2020-12-31$2,000,000
Total contributions received or receivable from participants2020-12-31$477,115
Contributions received from other sources (not participants or employers)2020-12-31$758,810
Other income received2020-12-31$2,504,476
Net income (gross income less expenses)2020-12-31$3,376,449
Net plan assets at end of year (total assets less liabilities)2020-12-31$19,251,016
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$15,874,567
Assets. Value of participant loans2020-12-31$51,463
Assets. Value of employer securities2020-12-31$4,327,882
Total contributions received or receivable from employer(s)2020-12-31$509,562
Value of corrective distributions2020-12-31$5,442
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$52,796
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2019 401k financial data
Total income from all sources2019-12-31$3,395,314
Expenses. Total of all expenses incurred2019-12-31$1,546,918
Benefits paid (including direct rollovers)2019-12-31$1,486,788
Total plan assets at end of year2019-12-31$15,874,567
Total plan assets at beginning of year2019-12-31$14,026,171
Value of fidelity bond covering the plan2019-12-31$1,000,000
Total contributions received or receivable from participants2019-12-31$382,428
Other income received2019-12-31$2,549,019
Net income (gross income less expenses)2019-12-31$1,848,396
Net plan assets at end of year (total assets less liabilities)2019-12-31$15,874,567
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$14,026,171
Assets. Value of participant loans2019-12-31$30,339
Assets. Value of employer securities2019-12-31$4,311,160
Total contributions received or receivable from employer(s)2019-12-31$463,867
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$60,130
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2018 401k financial data
Total income from all sources2018-12-31$-35,910
Expenses. Total of all expenses incurred2018-12-31$445,674
Benefits paid (including direct rollovers)2018-12-31$380,989
Total plan assets at end of year2018-12-31$14,026,171
Total plan assets at beginning of year2018-12-31$14,507,755
Value of fidelity bond covering the plan2018-12-31$1,000,000
Total contributions received or receivable from participants2018-12-31$352,313
Contributions received from other sources (not participants or employers)2018-12-31$17,745
Other income received2018-12-31$-730,529
Net income (gross income less expenses)2018-12-31$-481,584
Net plan assets at end of year (total assets less liabilities)2018-12-31$14,026,171
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$14,507,755
Assets. Value of participant loans2018-12-31$41,470
Assets. Value of employer securities2018-12-31$3,899,977
Total contributions received or receivable from employer(s)2018-12-31$324,561
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$64,685
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2017 401k financial data
Total income from all sources2017-12-31$2,524,445
Expenses. Total of all expenses incurred2017-12-31$531,832
Benefits paid (including direct rollovers)2017-12-31$462,625
Total plan assets at end of year2017-12-31$14,507,755
Total plan assets at beginning of year2017-12-31$12,515,142
Value of fidelity bond covering the plan2017-12-31$1,000,000
Total contributions received or receivable from participants2017-12-31$327,386
Contributions received from other sources (not participants or employers)2017-12-31$159,679
Other income received2017-12-31$1,729,766
Net income (gross income less expenses)2017-12-31$1,992,613
Net plan assets at end of year (total assets less liabilities)2017-12-31$14,507,755
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$12,515,142
Assets. Value of participant loans2017-12-31$46,483
Assets. Value of employer securities2017-12-31$4,069,278
Total contributions received or receivable from employer(s)2017-12-31$307,614
Value of corrective distributions2017-12-31$7,035
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$62,172
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0
2016 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2016 401k financial data
Total income from all sources2016-12-31$1,334,432
Expenses. Total of all expenses incurred2016-12-31$502,832
Benefits paid (including direct rollovers)2016-12-31$465,970
Total plan assets at end of year2016-12-31$12,515,142
Total plan assets at beginning of year2016-12-31$11,683,542
Value of fidelity bond covering the plan2016-12-31$1,000,000
Total contributions received or receivable from participants2016-12-31$309,060
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$219,353
Other income received2016-12-31$510,666
Net income (gross income less expenses)2016-12-31$831,600
Net plan assets at end of year (total assets less liabilities)2016-12-31$12,515,142
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$11,683,542
Assets. Value of participant loans2016-12-31$31,348
Assets. Value of employer securities2016-12-31$3,914,272
Total contributions received or receivable from employer(s)2016-12-31$295,353
Value of corrective distributions2016-12-31$5,037
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$31,825
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
2015 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2015 401k financial data
Total income from all sources2015-12-31$1,490,951
Expenses. Total of all expenses incurred2015-12-31$240,886
Benefits paid (including direct rollovers)2015-12-31$217,049
Total plan assets at end of year2015-12-31$11,683,542
Total plan assets at beginning of year2015-12-31$10,433,477
Value of fidelity bond covering the plan2015-12-31$4,000,000
Total contributions received or receivable from participants2015-12-31$312,981
Contributions received from other sources (not participants or employers)2015-12-31$10,865
Other income received2015-12-31$865,956
Net income (gross income less expenses)2015-12-31$1,250,065
Net plan assets at end of year (total assets less liabilities)2015-12-31$11,683,542
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$10,433,477
Assets. Value of participant loans2015-12-31$2,903
Assets. Value of employer securities2015-12-31$4,204,371
Total contributions received or receivable from employer(s)2015-12-31$301,149
Value of corrective distributions2015-12-31$2,134
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$21,703
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
2014 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2014 401k financial data
Total income from all sources2014-12-31$1,501,411
Expenses. Total of all expenses incurred2014-12-31$48,097
Benefits paid (including direct rollovers)2014-12-31$20,263
Total plan assets at end of year2014-12-31$10,433,477
Total plan assets at beginning of year2014-12-31$8,980,163
Value of fidelity bond covering the plan2014-12-31$3,000,000
Total contributions received or receivable from participants2014-12-31$293,340
Contributions received from other sources (not participants or employers)2014-12-31$125,541
Other income received2014-12-31$820,867
Net income (gross income less expenses)2014-12-31$1,453,314
Net plan assets at end of year (total assets less liabilities)2014-12-31$10,433,477
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$8,980,163
Assets. Value of participant loans2014-12-31$4,148
Assets. Value of employer securities2014-12-31$3,460,184
Total contributions received or receivable from employer(s)2014-12-31$261,663
Value of corrective distributions2014-12-31$6,605
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$21,229
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
2013 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2013 401k financial data
Total income from all sources2013-12-31$1,894,908
Expenses. Total of all expenses incurred2013-12-31$479,014
Benefits paid (including direct rollovers)2013-12-31$450,692
Total plan assets at end of year2013-12-31$8,980,163
Total plan assets at beginning of year2013-12-31$7,564,269
Value of fidelity bond covering the plan2013-12-31$3,000,000
Total contributions received or receivable from participants2013-12-31$259,733
Contributions received from other sources (not participants or employers)2013-12-31$1,004
Other income received2013-12-31$1,318,560
Net income (gross income less expenses)2013-12-31$1,415,894
Net plan assets at end of year (total assets less liabilities)2013-12-31$8,980,163
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$7,564,269
Assets. Value of participant loans2013-12-31$5,332
Assets. Value of employer securities2013-12-31$2,932,206
Total contributions received or receivable from employer(s)2013-12-31$315,611
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$28,322
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
2012 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2012 401k financial data
Total income from all sources2012-12-31$1,017,984
Expenses. Total of all expenses incurred2012-12-31$86,018
Benefits paid (including direct rollovers)2012-12-31$61,352
Total plan assets at end of year2012-12-31$7,564,269
Total plan assets at beginning of year2012-12-31$6,632,303
Value of fidelity bond covering the plan2012-12-31$3,000,000
Total contributions received or receivable from participants2012-12-31$207,408
Expenses. Other expenses not covered elsewhere2012-12-31$300
Contributions received from other sources (not participants or employers)2012-12-31$95,339
Other income received2012-12-31$570,205
Net income (gross income less expenses)2012-12-31$931,966
Net plan assets at end of year (total assets less liabilities)2012-12-31$7,564,269
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$6,632,303
Assets. Value of participant loans2012-12-31$27,254
Assets. Value of employer securities2012-12-31$2,700,750
Total contributions received or receivable from employer(s)2012-12-31$145,032
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$24,366
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2011 401k financial data
Total income from all sources2011-12-31$325,389
Expenses. Total of all expenses incurred2011-12-31$985,373
Benefits paid (including direct rollovers)2011-12-31$960,555
Total plan assets at end of year2011-12-31$6,632,303
Total plan assets at beginning of year2011-12-31$7,292,287
Value of fidelity bond covering the plan2011-12-31$3,000,000
Total contributions received or receivable from participants2011-12-31$198,529
Expenses. Other expenses not covered elsewhere2011-12-31$326
Contributions received from other sources (not participants or employers)2011-12-31$3,429
Other income received2011-12-31$-100,005
Net income (gross income less expenses)2011-12-31$-659,984
Net plan assets at end of year (total assets less liabilities)2011-12-31$6,632,303
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$7,292,287
Assets. Value of participant loans2011-12-31$47,221
Assets. Value of employer securities2011-12-31$2,431,888
Total contributions received or receivable from employer(s)2011-12-31$223,436
Value of corrective distributions2011-12-31$4,496
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$19,996
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$2,629,069
Total income from all sources2010-12-31$992,933
Expenses. Total of all expenses incurred2010-12-31$419,244
Benefits paid (including direct rollovers)2010-12-31$414,922
Total plan assets at end of year2010-12-31$7,292,287
Total plan assets at beginning of year2010-12-31$4,089,529
Value of fidelity bond covering the plan2010-12-31$2,000,000
Total contributions received or receivable from participants2010-12-31$200,313
Contributions received from other sources (not participants or employers)2010-12-31$122,968
Other income received2010-12-31$462,164
Net income (gross income less expenses)2010-12-31$573,689
Net plan assets at end of year (total assets less liabilities)2010-12-31$7,292,287
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$4,089,529
Assets. Value of participant loans2010-12-31$66,647
Assets. Value of employer securities2010-12-31$2,743,780
Total contributions received or receivable from employer(s)2010-12-31$207,488
Value of corrective distributions2010-12-31$4,164
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$158
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN

2022: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
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
2016: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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 filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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 – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP 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 – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: CITIZENS BANK MINNESOTA 401(K) PROFIT SHARING PLAN AND EMPLOYEE STOCK OWNERSHIP PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
Insurance contract or identification number613953
Number of Individuals Covered0
Insurance policy start date2011-01-01
Insurance policy end date2011-03-03
Total amount of commissions paid to insurance brokerUSD $628
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
Insurance contract or identification number613953
Number of Individuals Covered71
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $9,001
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?No
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?No
Are there contracts with unallocated funds for contracts of type guaranteed investment?No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $9,001
Amount paid for insurance broker fees0
Insurance broker organization code?3
Insurance broker nameFIRST DAKOTA INC

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