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FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameFIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 001

FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

FIRST STATE BANK OF THORNTON has sponsored the creation of one or more 401k plans.

Company Name:FIRST STATE BANK OF THORNTON
Employer identification number (EIN):420253637
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012010-01-01MARCIA ARNESON
0012009-01-01NICOLE MEDGAARDEN

Plan Statistics for FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2010: FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-019
Total number of active participants reported on line 7a of the Form 55002010-01-010
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-010
Number of participants with account balances2010-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-019
Total number of active participants reported on line 7a of the Form 55002009-01-010
Number of retired or separated participants receiving benefits2009-01-019
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-019
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-019
Number of participants with account balances2009-01-019
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2010 : FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k financial data
Total plan liabilities at end of year2010-12-08$0
Total plan liabilities at beginning of year2010-12-08$0
Total income from all sources2010-12-08$28,867
Expenses. Total of all expenses incurred2010-12-08$307,714
Benefits paid (including direct rollovers)2010-12-08$294,197
Total plan assets at end of year2010-12-08$0
Total plan assets at beginning of year2010-12-08$278,847
Value of fidelity bond covering the plan2010-12-08$1,000,000
Other income received2010-12-08$28,867
Net income (gross income less expenses)2010-12-08$-278,847
Net plan assets at end of year (total assets less liabilities)2010-12-08$0
Net plan assets at beginning of year (total assets less liabilities)2010-12-08$278,847
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-08$13,517
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-08$0
2009 : FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN

2010: FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingYes
2010-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: FIRST STATE BANK OF THORNTON, IOWA EMPLOYEE STOCK OWNERSHIP PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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