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GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameGUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 003

GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Stock bonus
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:GUARANTY BANK
Employer identification number (EIN):431720231
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about GUARANTY BANK

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 1996-11-20
Company Identification Number: 0475023
Legal Registered Office Address: UNION BANKSHARES CORPORATION
PO BOX 446
BOWLING GREEN
United States of America (USA)
22427-0446

More information about GUARANTY BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032013-01-01MELISSA LLOYD MELISSA LLOYD2014-10-14
0032012-01-01MELISSA LLOYD
0032011-01-01MELISSA CARR
0032010-01-01MELISSA CARR
0032009-01-01CARTER PETERS

Plan Statistics for GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2013: GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01154
Total number of active participants reported on line 7a of the Form 55002013-01-010
Total of all active and inactive participants2013-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-010
Number of participants with account balances2013-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-01158
Total number of active participants reported on line 7a of the Form 55002012-01-01146
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-018
Total of all active and inactive participants2012-01-01154
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-01154
Number of participants with account balances2012-01-01153
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-015
2011: GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01149
Total number of active participants reported on line 7a of the Form 55002011-01-01133
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-016
Total of all active and inactive participants2011-01-01139
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-01139
Number of participants with account balances2011-01-01139
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-019
2010: GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01148
Total number of active participants reported on line 7a of the Form 55002010-01-01139
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-015
Total of all active and inactive participants2010-01-01144
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01144
Number of participants with account balances2010-01-01144
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-017
2009: GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01133
Total number of active participants reported on line 7a of the Form 55002009-01-01131
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-014
Total of all active and inactive participants2009-01-01135
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01135
Number of participants with account balances2009-01-01135
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-019

Financial Data on GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2013 : GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2013 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2013-12-10$1,023,792
Total unrealized appreciation/depreciation of assets2013-12-10$1,023,792
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-10$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-10$0
Total income from all sources (including contributions)2013-12-10$1,023,792
Total loss/gain on sale of assets2013-12-10$0
Total of all expenses incurred2013-12-10$2,705,023
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-10$2,705,023
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-10$0
Value of total assets at end of year2013-12-10$0
Value of total assets at beginning of year2013-12-10$1,681,231
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-10$0
Total interest from all sources2013-12-10$0
Total dividends received (eg from common stock, registered investment company shares)2013-12-10$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-10Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2013-12-10$0
Was this plan covered by a fidelity bond2013-12-10Yes
Value of fidelity bond cover2013-12-10$4,675,000
If this is an individual account plan, was there a blackout period2013-12-10No
Were there any nonexempt tranactions with any party-in-interest2013-12-10No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-10No
Value of net income/loss2013-12-10$-1,681,231
Value of net assets at end of year (total assets less liabilities)2013-12-10$0
Value of net assets at beginning of year (total assets less liabilities)2013-12-10$1,681,231
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-10No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-10No
Were any leases to which the plan was party in default or uncollectible2013-12-10No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2013-12-10$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2013-12-10$1
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2013-12-10$1
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-10No
Was there a failure to transmit to the plan any participant contributions2013-12-10No
Has the plan failed to provide any benefit when due under the plan2013-12-10No
Assets. Invements in employer securities at end of year2013-12-10$0
Assets. Invements in employer securities at beginning of year2013-12-10$1,681,230
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-10$2,705,023
Did the plan have assets held for investment2013-12-10No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-10No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-10Yes
Liabilities. Value of acquisition indebtedness at end of year2013-12-10$0
Liabilities. Value of acquisition indebtedness at beginning of year2013-12-10$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-10No
Opinion of an independent qualified public accountant for this plan2013-12-10Unqualified
Accountancy firm name2013-12-10ELLIOTT, ROBINSON, & COMPANY, LLP
Accountancy firm EIN2013-12-10431189134
2012 : GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2012 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2012-12-31$300,172
Total unrealized appreciation/depreciation of assets2012-12-31$300,172
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$332,457
Expenses. Interest paid2012-12-31$3,858
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022012-12-31$3,858
Total income from all sources (including contributions)2012-12-31$636,488
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$39,094
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$35,236
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$336,316
Value of total assets at end of year2012-12-31$1,681,231
Value of total assets at beginning of year2012-12-31$1,416,294
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$0
Total interest from all sources2012-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$4,675,000
If this is an individual account plan, was there a blackout period2012-12-31No
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$597,394
Value of net assets at end of year (total assets less liabilities)2012-12-31$1,681,231
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$1,083,837
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2012-12-31$1
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$27
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$27
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Assets. Invements in employer securities at end of year2012-12-31$1,681,230
Assets. Invements in employer securities at beginning of year2012-12-31$1,416,267
Contributions received in cash from employer2012-12-31$336,316
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$35,236
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Liabilities. Value of acquisition indebtedness at end of year2012-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2012-12-31$332,457
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31ELLIOTT, ROBINSON, & COMPANY, LLP
Accountancy firm EIN2012-12-31431189134
2011 : GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2011 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$244,482
Total unrealized appreciation/depreciation of assets2011-12-31$244,482
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$332,457
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$654,297
Expenses. Interest paid2011-12-31$16,499
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022011-12-31$16,499
Total income from all sources (including contributions)2011-12-31$582,821
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$69,745
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$53,246
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$338,339
Value of total assets at end of year2011-12-31$1,416,294
Value of total assets at beginning of year2011-12-31$1,225,058
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$0
Total interest from all sources2011-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$4,600,000
If this is an individual account plan, was there a blackout period2011-12-31No
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$513,076
Value of net assets at end of year (total assets less liabilities)2011-12-31$1,083,837
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$570,761
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$27
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$44
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$44
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Assets. Invements in employer securities at end of year2011-12-31$1,416,267
Assets. Invements in employer securities at beginning of year2011-12-31$1,225,014
Contributions received in cash from employer2011-12-31$338,339
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$53,246
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Liabilities. Value of acquisition indebtedness at end of year2011-12-31$332,457
Liabilities. Value of acquisition indebtedness at beginning of year2011-12-31$654,297
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31No
Opinion of an independent qualified public accountant for this plan2011-12-31Unqualified
Accountancy firm name2011-12-31ELLIOTT, ROBINSON, & COMPANY, LLP
Accountancy firm EIN2011-12-31431189134
2010 : GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2010-12-31$-75,040
Total unrealized appreciation/depreciation of assets2010-12-31$-75,040
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$654,297
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$965,860
Expenses. Interest paid2010-12-31$26,777
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022010-12-31$26,777
Total income from all sources (including contributions)2010-12-31$263,299
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$72,719
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$45,942
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$338,339
Value of total assets at end of year2010-12-31$1,225,058
Value of total assets at beginning of year2010-12-31$1,346,041
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$0
Total interest from all sources2010-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$4,600,000
If this is an individual account plan, was there a blackout period2010-12-31No
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$190,580
Value of net assets at end of year (total assets less liabilities)2010-12-31$570,761
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$380,181
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$44
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$59
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$59
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Assets. Invements in employer securities at end of year2010-12-31$1,225,014
Assets. Invements in employer securities at beginning of year2010-12-31$1,345,982
Contributions received in cash from employer2010-12-31$338,339
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$45,942
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Liabilities. Value of acquisition indebtedness at end of year2010-12-31$654,297
Liabilities. Value of acquisition indebtedness at beginning of year2010-12-31$965,860
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31No
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31ELLIOTT, ROBINSON, & COMPANY, LLP
Accountancy firm EIN2010-12-31431189134

Form 5500 Responses for GUARANTY BANK EMPLOYEE STOCK OWNERSHIP PLAN

2013: GUARANTY BANK 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 filingYes
2013-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: GUARANTY BANK 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: GUARANTY BANK 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
2010: GUARANTY BANK 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 filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: GUARANTY BANK 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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