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PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 401k Plan overview

Plan NamePROFIT SHARING PLAN OF PREMIER BANK MINNESOTA
Plan identification number 001

PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 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.
  • 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.
  • 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

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

Company Name:PREMIER BANK MINNESOTA
Employer identification number (EIN):411677555
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012022-01-01CASEY REGAN
0012021-01-01
0012021-01-01CASEY REGAN
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01CASEY REGAN
0012016-01-01CASEY REGAN
0012015-01-01CASEY REGAN
0012014-01-01CASEY REGAN
0012013-01-01CASEY REGAN
0012012-01-01CASEY REGAN
0012011-01-01CASEY REGAN
0012010-01-01G JACK HILLSTROM
0012009-01-01G JACK HILLSTROM

Financial Data on PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA

Measure Date Value
2022 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2022 401k financial data
Transfers to/from the plan2022-12-31$-2,590,736
Total income from all sources2022-12-31$-110,753
Expenses. Total of all expenses incurred2022-12-31$608,727
Benefits paid (including direct rollovers)2022-12-31$593,199
Total plan assets at beginning of year2022-12-31$3,310,216
Value of fidelity bond covering the plan2022-12-31$10,000,000
Other income received2022-12-31$-437,799
Net income (gross income less expenses)2022-12-31$-719,480
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$3,310,216
Total contributions received or receivable from employer(s)2022-12-31$327,046
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$15,528
2021 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2021 401k financial data
Total income from all sources2021-12-31$877,479
Expenses. Total of all expenses incurred2021-12-31$599,929
Benefits paid (including direct rollovers)2021-12-31$583,834
Total plan assets at end of year2021-12-31$3,310,216
Total plan assets at beginning of year2021-12-31$3,032,666
Value of fidelity bond covering the plan2021-12-31$10,000,000
Other income received2021-12-31$574,043
Net income (gross income less expenses)2021-12-31$277,550
Net plan assets at end of year (total assets less liabilities)2021-12-31$3,310,216
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$3,032,666
Total contributions received or receivable from employer(s)2021-12-31$303,436
Expenses. Administrative service providers (salaries,fees and commissions)2021-12-31$16,095
2020 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2020 401k financial data
Total income from all sources2020-12-31$537,988
Expenses. Total of all expenses incurred2020-12-31$270,461
Benefits paid (including direct rollovers)2020-12-31$259,755
Total plan assets at end of year2020-12-31$3,032,666
Total plan assets at beginning of year2020-12-31$2,765,139
Value of fidelity bond covering the plan2020-12-31$5,000,000
Other income received2020-12-31$257,988
Net income (gross income less expenses)2020-12-31$267,527
Net plan assets at end of year (total assets less liabilities)2020-12-31$3,032,666
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$2,765,139
Total contributions received or receivable from employer(s)2020-12-31$280,000
Expenses. Administrative service providers (salaries,fees and commissions)2020-12-31$10,706
2019 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2019 401k financial data
Total income from all sources2019-12-31$613,708
Expenses. Total of all expenses incurred2019-12-31$63,844
Benefits paid (including direct rollovers)2019-12-31$53,543
Total plan assets at end of year2019-12-31$2,765,139
Total plan assets at beginning of year2019-12-31$2,215,275
Value of fidelity bond covering the plan2019-12-31$5,000,000
Other income received2019-12-31$347,808
Net income (gross income less expenses)2019-12-31$549,864
Net plan assets at end of year (total assets less liabilities)2019-12-31$2,765,139
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$2,215,275
Total contributions received or receivable from employer(s)2019-12-31$265,900
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$10,301
2018 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2018 401k financial data
Total income from all sources2018-12-31$191,788
Expenses. Total of all expenses incurred2018-12-31$94,455
Benefits paid (including direct rollovers)2018-12-31$84,248
Total plan assets at end of year2018-12-31$2,215,275
Total plan assets at beginning of year2018-12-31$2,117,942
Value of fidelity bond covering the plan2018-12-31$5,000,000
Other income received2018-12-31$-58,212
Net income (gross income less expenses)2018-12-31$97,333
Net plan assets at end of year (total assets less liabilities)2018-12-31$2,215,275
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$2,117,942
Total contributions received or receivable from employer(s)2018-12-31$250,000
Expenses. Administrative service providers (salaries,fees and commissions)2018-12-31$10,207
2017 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2017 401k financial data
Total income from all sources2017-12-31$443,153
Expenses. Total of all expenses incurred2017-12-31$82,769
Benefits paid (including direct rollovers)2017-12-31$74,030
Total plan assets at end of year2017-12-31$2,117,942
Total plan assets at beginning of year2017-12-31$1,757,558
Value of fidelity bond covering the plan2017-12-31$5,000,000
Other income received2017-12-31$203,153
Net income (gross income less expenses)2017-12-31$360,384
Net plan assets at end of year (total assets less liabilities)2017-12-31$2,117,942
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$1,757,558
Total contributions received or receivable from employer(s)2017-12-31$240,000
Expenses. Administrative service providers (salaries,fees and commissions)2017-12-31$8,739
2016 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2016 401k financial data
Total income from all sources2016-12-31$248,209
Expenses. Total of all expenses incurred2016-12-31$52,810
Benefits paid (including direct rollovers)2016-12-31$47,312
Total plan assets at end of year2016-12-31$1,757,558
Total plan assets at beginning of year2016-12-31$1,562,159
Value of fidelity bond covering the plan2016-12-31$5,000,000
Other income received2016-12-31$17,209
Net income (gross income less expenses)2016-12-31$195,399
Net plan assets at end of year (total assets less liabilities)2016-12-31$1,757,558
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$1,562,159
Total contributions received or receivable from employer(s)2016-12-31$231,000
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$5,498
2015 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2015 401k financial data
Total income from all sources2015-12-31$246,027
Expenses. Total of all expenses incurred2015-12-31$55,839
Benefits paid (including direct rollovers)2015-12-31$46,909
Total plan assets at end of year2015-12-31$1,562,159
Total plan assets at beginning of year2015-12-31$1,371,971
Value of fidelity bond covering the plan2015-12-31$5,000,000
Other income received2015-12-31$13,027
Net income (gross income less expenses)2015-12-31$190,188
Net plan assets at end of year (total assets less liabilities)2015-12-31$1,562,159
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$1,371,971
Total contributions received or receivable from employer(s)2015-12-31$233,000
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$8,930
2014 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2014 401k financial data
Total income from all sources2014-12-31$365,275
Expenses. Total of all expenses incurred2014-12-31$58,864
Benefits paid (including direct rollovers)2014-12-31$51,788
Total plan assets at end of year2014-12-31$1,371,971
Total plan assets at beginning of year2014-12-31$1,065,560
Value of fidelity bond covering the plan2014-12-31$5,000,000
Other income received2014-12-31$85,275
Net income (gross income less expenses)2014-12-31$306,411
Net plan assets at end of year (total assets less liabilities)2014-12-31$1,371,971
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$1,065,560
Total contributions received or receivable from employer(s)2014-12-31$280,000
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$7,076
2013 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2013 401k financial data
Total income from all sources2013-12-31$346,518
Expenses. Total of all expenses incurred2013-12-31$187,947
Benefits paid (including direct rollovers)2013-12-31$183,084
Total plan assets at end of year2013-12-31$1,065,560
Total plan assets at beginning of year2013-12-31$906,989
Value of fidelity bond covering the plan2013-12-31$5,000,000
Other income received2013-12-31$110,518
Net income (gross income less expenses)2013-12-31$158,571
Net plan assets at end of year (total assets less liabilities)2013-12-31$1,065,560
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$906,989
Total contributions received or receivable from employer(s)2013-12-31$236,000
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$4,863
2012 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2012 401k financial data
Total income from all sources2012-12-31$148,960
Expenses. Total of all expenses incurred2012-12-31$86,715
Benefits paid (including direct rollovers)2012-12-31$86,715
Total plan assets at end of year2012-12-31$906,989
Total plan assets at beginning of year2012-12-31$844,744
Value of fidelity bond covering the plan2012-12-31$5,000,000
Other income received2012-12-31$64,332
Net income (gross income less expenses)2012-12-31$62,245
Net plan assets at end of year (total assets less liabilities)2012-12-31$906,989
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$844,744
Total contributions received or receivable from employer(s)2012-12-31$84,628
2011 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2011 401k financial data
Total income from all sources2011-12-31$10,309
Expenses. Total of all expenses incurred2011-12-31$34,205
Benefits paid (including direct rollovers)2011-12-31$31,272
Total plan assets at end of year2011-12-31$841,810
Total plan assets at beginning of year2011-12-31$865,706
Value of fidelity bond covering the plan2011-12-31$5,000,000
Other income received2011-12-31$10,309
Net income (gross income less expenses)2011-12-31$-23,896
Net plan assets at end of year (total assets less liabilities)2011-12-31$841,810
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$865,706
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$2,933
2010 : PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2010 401k financial data
Total income from all sources2010-12-31$53,049
Expenses. Total of all expenses incurred2010-12-31$204,219
Benefits paid (including direct rollovers)2010-12-31$204,219
Total plan assets at end of year2010-12-31$865,706
Total plan assets at beginning of year2010-12-31$1,016,876
Value of fidelity bond covering the plan2010-12-31$5,000,000
Other income received2010-12-31$53,049
Net income (gross income less expenses)2010-12-31$-151,170
Net plan assets at end of year (total assets less liabilities)2010-12-31$865,706
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$1,016,876

Form 5500 Responses for PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA

2022: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01This submission is the final filingYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: PROFIT SHARING PLAN OF PREMIER BANK MINNESOTA 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01This submission is the final filingNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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