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

Plan NameFIRST UNITED BANK 401(K) PROFIT SHARING PLAN
Plan identification number 001

FIRST UNITED BANK 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

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

Company Name:FIRST UNITED BANK
Employer identification number (EIN):450134935
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JOAN LARSON2024-10-02
0012022-01-01JOAN LARSON2023-09-11
0012021-01-01JOAN LARSON2022-10-03
0012021-01-01JOAN LARSON2022-10-03
0012020-01-01JOAN LARSON2021-05-13
0012019-01-01CATHERINE CLAPP2020-07-13
0012018-01-01CATHERINE CLAPP2019-05-20
0012017-01-01CATHERINE CLAPP2018-04-02
0012016-01-01CATHERINE CLAPP2017-05-02
0012015-01-01CATHERINE CLAPP2016-07-14
0012014-01-01CATHERINE CLAPP2015-06-03
0012013-01-01CATHERINE CLAPP2014-06-02
0012012-01-01CATHERINE CLAPP2013-05-30
0012011-01-01CATHERINE CLAPP2012-07-02
0012010-01-01CATHERINE NORDQUIST2011-05-10

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

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

Measure Date Value
2025: FIRST UNITED BANK 401(K) PROFIT SHARING PLAN 2025 401k membership
Total number of particpants at beginning of year2025-10-14127
Total number of particpants at end of year2025-10-14119
Number of Participants With Account Balances2025-10-14108
2024: FIRST UNITED BANK 401(K) PROFIT SHARING PLAN 2024 401k membership
Total number of particpants at beginning of year2024-10-02120
Total number of particpants at end of year2024-10-02123
Number of Participants With Account Balances2024-10-02107
2022: FIRST UNITED BANK 401(K) PROFIT SHARING PLAN 2022 401k membership
Total number of particpants at beginning of year2022-10-03112
Total number of particpants at end of year2022-10-03111
Number of Participants With Account Balances2022-10-03104

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

Measure Date Value
2025 : FIRST UNITED BANK 401(K) PROFIT SHARING PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-10-140
Total liabilities as of the end of the plan year2025-10-140
Total liabilities as of the beginning of the plan year2025-10-140
Total expenses incurred by plan in this plan year2025-10-14689096
Net assets as of the end of the plan year2025-10-1412501130
Total assets as of the beginning of the plan year2025-10-1410991382
Value of plan covered by a fidelity bond2025-10-144000000
Participant contributions to plan in this plan year2025-10-14658933
Value of participant loans at end of plan year2025-10-1468716
Other expenses paid from plan in this plan year2025-10-140
Other contributions to plan in this plan year2025-10-1435410
Other income to plan in this plan year2025-10-141170623
Plan net income in this plan year2025-10-141509748
Net assets as of the end of the plan year2025-10-1412501130
Net assets as of the beginning of the plan year2025-10-1410991382
Employer contributions to plan in this plan year2025-10-14333878
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-146724
2024 : FIRST UNITED BANK 401(K) PROFIT SHARING PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-10-02876510
Net assets as of the end of the plan year2024-10-0210991382
Total assets as of the beginning of the plan year2024-10-029095978
Value of plan covered by a fidelity bond2024-10-024500000
Participant contributions to plan in this plan year2024-10-02591281
Value of participant loans at end of plan year2024-10-0285992
Other contributions to plan in this plan year2024-10-02483786
Other income to plan in this plan year2024-10-021360722
Plan net income in this plan year2024-10-021895404
Net assets as of the end of the plan year2024-10-0210991382
Net assets as of the beginning of the plan year2024-10-029095978
Employer contributions to plan in this plan year2024-10-02336125
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-024370
2022 : FIRST UNITED BANK 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-10-031208767
Net assets as of the end of the plan year2022-10-0310292965
Total assets as of the beginning of the plan year2022-10-037857093
Value of plan covered by a fidelity bond2022-10-034500000
Participant contributions to plan in this plan year2022-10-03488686
Value of participant loans at end of plan year2022-10-0338362
Other contributions to plan in this plan year2022-10-031942740
Other income to plan in this plan year2022-10-03945114
Plan net income in this plan year2022-10-032435872
Net assets as of the end of the plan year2022-10-0310292965
Net assets as of the beginning of the plan year2022-10-037857093
Employer contributions to plan in this plan year2022-10-03268099

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