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VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA 401k Plan overview

Plan NameVBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA
Plan identification number 002

VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA 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.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

THE BANK OF SOUTHSIDE VIRGINIA has sponsored the creation of one or more 401k plans.

Company Name:THE BANK OF SOUTHSIDE VIRGINIA
Employer identification number (EIN):540133000
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about THE BANK OF SOUTHSIDE VIRGINIA

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 1983-02-22
Company Identification Number: 0238854
Legal Registered Office Address: PO BOX 40
PO DRAWER B
CARSON
United States of America (USA)
23830

More information about THE BANK OF SOUTHSIDE VIRGINIA

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01JOY C. BURROUGHS2024-07-08 JOY C. BURROUGHS2024-07-08
0022023-01-01CINDY BEAZLEY2024-07-30 JOY C. BURROUGHS2024-08-01
0022022-01-01JOY C. BURROUGHS2023-07-26 JOY C. BURROUGHS2023-07-26
0022021-01-01BOBBI WEIMER2022-07-20 JOY C. BURROUGHS2022-09-12
0022020-01-01BOBBI JO WEIMER2021-10-14 JOY C BURROUGHS2021-10-14
0022019-01-01BOBBI WEIMER2020-08-14 JOY C. BURROUGHS2020-08-14
0022018-01-01BOBBI WEIMER2019-07-16 JOY C. BURROUGHS2019-07-16
0022017-01-01BOBBI WEIMER2018-06-05 JOY C. BURROUGHS2018-06-11
0022016-01-01LAURIE MILLIGAN2017-07-18 JOY C. BURROUGHS2017-07-20
0022015-01-01BETTE J ALBERT2016-06-14 SHIRLEY O. WILKINSON2016-06-10
0022014-01-01BETTE J. ALBERT2015-03-31 SHIRLEY O. WILKINSON2015-04-07
0022013-01-01BETTE J. ALBERT2014-07-09 SHIRLEY O. WILKINSON2014-07-11
0022012-01-01BETTE J. ALBERT2013-04-29 SHIRLEY O. WILKINSON2013-04-29
0022011-01-01BETTE J. ALBERT2012-03-19 SHIRLEY O. WILKINSON2012-03-27
0022010-01-01BETTE J. ALBERT2011-05-06 J. PETER CLEMENTS2011-06-08

Plan Statistics for VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA

401k plan membership statisitcs for VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA

Measure Date Value
2025: VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA 2025 401k membership
Total number of particpants at beginning of year2025-08-1482
Total number of particpants at end of year2025-08-1480
Number of Participants With Account Balances2025-08-1472
Total number of particpants at beginning of year2025-07-3082
Total number of particpants at end of year2025-07-3080
Number of Participants With Account Balances2025-07-3072
2024: VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA 2024 401k membership
Total number of particpants at beginning of year2024-08-0179
Total number of particpants at end of year2024-08-0182
Number of Participants With Account Balances2024-08-0171

Financial Data on VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA

Measure Date Value
2025 : VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA 2025 401k financial data
Total expenses incurred by plan in this plan year2025-08-14540573
Net assets as of the end of the plan year2025-08-1412344984
Total assets as of the beginning of the plan year2025-08-1411063447
Value of plan covered by a fidelity bond2025-08-148000000
Participant contributions to plan in this plan year2025-08-14294207
Other contributions to plan in this plan year2025-08-1450912
Other income to plan in this plan year2025-08-141119161
Plan net income in this plan year2025-08-141281537
Net assets as of the end of the plan year2025-08-1412344984
Net assets as of the beginning of the plan year2025-08-1411063447
Employer contributions to plan in this plan year2025-08-14357830
Expensese paid to adminstrative service provicers from plan in this plan year2025-08-1467528
Total expenses incurred by plan in this plan year2025-07-30540573
Net assets as of the end of the plan year2025-07-3012344984
Total assets as of the beginning of the plan year2025-07-3011063447
Value of plan covered by a fidelity bond2025-07-308000000
Participant contributions to plan in this plan year2025-07-30294207
Other contributions to plan in this plan year2025-07-3050912
Other income to plan in this plan year2025-07-301119161
Plan net income in this plan year2025-07-301281537
Net assets as of the end of the plan year2025-07-3012344984
Net assets as of the beginning of the plan year2025-07-3011063447
Employer contributions to plan in this plan year2025-07-30357830
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-3067528
2024 : VBA DEFINED CONTRIBUTION PLAN FOR THE BANK OF SOUTHSIDE VIRGINIA 2024 401k financial data
Total expenses incurred by plan in this plan year2024-08-014617711
Net assets as of the end of the plan year2024-08-0111063447
Total assets as of the beginning of the plan year2024-08-0113417475
Value of plan covered by a fidelity bond2024-08-018000000
Participant contributions to plan in this plan year2024-08-01266753
Other income to plan in this plan year2024-08-011662940
Plan net income in this plan year2024-08-01-2354028
Net assets as of the end of the plan year2024-08-0111063447
Net assets as of the beginning of the plan year2024-08-0113417475
Employer contributions to plan in this plan year2024-08-01333990
Expensese paid to adminstrative service provicers from plan in this plan year2024-08-0174416

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