401k Plan data: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. plan

SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 401k Plan overview

Plan Name	SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC.
Plan identification number	001

SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. Benefits

401k Plan Type

Defined Benefit Pension

Plan Features/Benefits

Benefits are primarily pay related
Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
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

BAY BANKS OF VIRGINIA, INC. has sponsored the creation of one or more 401k plans.

Company Name: BAY BANKS OF VIRGINIA, INC.

Employer identification number (EIN): 541838100

NAIC Classification: 522110
NAIC Description: Commercial Banking

Additional information about BAY BANKS OF VIRGINIA, INC.

Jurisdiction of Incorporation: Virginia Secretary of State

Incorporation Date: 1997-02-10

Company Identification Number: 0479273

Legal Registered Office Address: 100 SOUTH MAIN STREET
P. O. BOX 5
KILMARNOCK
United States of America (USA)
22482

More information about BAY BANKS OF VIRGINIA, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2022-01-01 JILL THOMAS 2023-10-12 JILL THOMAS 2023-10-12
001 2021-01-01 JILL THOMAS 2022-10-12 JILL THOMAS 2022-10-12
001 2020-01-01 JILL THOMAS 2021-10-14
001 2019-01-01 PEGGY GEORGE 2020-07-23 PEGGY GEORGE 2020-07-23
001 2018-01-01 PEGGY GEORGE 2019-07-22 PEGGY GEORGE 2019-07-22
001 2017-01-01 PEGGY GEORGE 2018-07-20 PEGGY GEORGE 2018-07-20
001 2016-01-01 PEGGY GEORGE 2017-07-25 PEGGY GEORGE 2017-07-25
001 2015-01-01 PEGGY GEORGE 2016-07-25 PEGGY GEORGE 2016-07-25
001 2014-01-01 PEGGY GEORGE 2015-07-21 PEGGY GEORGE 2015-07-21
001 2013-01-01 PEGGY GEORGE 2014-06-30 PEGGY GEORGE 2014-06-30
001 2012-01-01 PEGGY GEORGE 2013-07-26
001 2011-01-01 PEGGY GEORGE 2012-07-26
001 2010-01-01 PEGGY GEORGE 2011-09-02

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
001	2022-01-01	JILL THOMAS	2023-10-12	JILL THOMAS	2023-10-12
001	2021-01-01	JILL THOMAS	2022-10-12	JILL THOMAS	2022-10-12
001	2020-01-01	JILL THOMAS	2021-10-14
001	2019-01-01	PEGGY GEORGE	2020-07-23	PEGGY GEORGE	2020-07-23
001	2018-01-01	PEGGY GEORGE	2019-07-22	PEGGY GEORGE	2019-07-22
001	2017-01-01	PEGGY GEORGE	2018-07-20	PEGGY GEORGE	2018-07-20
001	2016-01-01	PEGGY GEORGE	2017-07-25	PEGGY GEORGE	2017-07-25
001	2015-01-01	PEGGY GEORGE	2016-07-25	PEGGY GEORGE	2016-07-25
001	2014-01-01	PEGGY GEORGE	2015-07-21	PEGGY GEORGE	2015-07-21
001	2013-01-01	PEGGY GEORGE	2014-06-30	PEGGY GEORGE	2014-06-30
001	2012-01-01	PEGGY GEORGE	2013-07-26
001	2011-01-01	PEGGY GEORGE	2012-07-26
001	2010-01-01	PEGGY GEORGE	2011-09-02

Plan Statistics for SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC.

401k plan membership statisitcs for SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC.

Measure Date Value
2022: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2022 401k membership
Market value of plan assets 2022-12-31 1,158,770
Acturial value of plan assets 2022-12-31 1,109,720
Funding target for retired participants and beneficiaries receiving payment 2022-12-31 279,474
Number of terminated vested participants 2022-12-31 7
Fundng target for terminated vested participants 2022-12-31 134,123
Active participant vested funding target 2022-12-31 402,056
Number of active participants 2022-12-31 17
Total funding liabilities for active participants 2022-12-31 402,056
Total participant count 2022-12-31 30
Total funding target for all participants 2022-12-31 815,653
Balance at beginning of prior year after applicable adjustments 2022-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2022-12-31 61,967
Carryover balanced portion elected for use to offset prior years funding requirement 2022-12-31 0
Prefunding balanced used to offset prior years funding requirement 2022-12-31 14,400
Amount remaining of carryover balance 2022-12-31 0
Amount remaining of prefunding balance 2022-12-31 47,567
Present value of excess contributions 2022-12-31 640,166
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2022-12-31 675,855
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2022-12-31 0
Reductions in caryover balances due to elections or deemed elections 2022-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2022-12-31 0
Balance of carryovers at beginning of current year 2022-12-31 0
Balance of prefunding at beginning of current year 2022-12-31 52,181
Total employer contributions 2022-12-31 0
Total employee contributions 2022-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2022-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2022-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2022-12-31 0
Unpaid minimum required contributions for all prior years 2022-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2022-12-31 0
Remaining amount of unpaid minimum required contributions 2022-12-31 0
Minimum required contributions for current year target normal cost 2022-12-31 4,125
Net shortfall amortization installment of oustanding balance 2022-12-31 0
Waiver amortization installment 2022-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2022-12-31 0
Additional cash requirement 2022-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2022-12-31 0
Unpaid minimum required contributions for current year 2022-12-31 0
Unpaid minimum required contributions for all years 2022-12-31 0
2021: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2021 401k membership
Market value of plan assets 2021-12-31 1,346,258
Acturial value of plan assets 2021-12-31 1,249,311
Funding target for retired participants and beneficiaries receiving payment 2021-12-31 308,747
Number of terminated vested participants 2021-12-31 7
Fundng target for terminated vested participants 2021-12-31 173,742
Active participant vested funding target 2021-12-31 1,001,691
Number of active participants 2021-12-31 28
Total funding liabilities for active participants 2021-12-31 1,001,691
Total participant count 2021-12-31 42
Total funding target for all participants 2021-12-31 1,484,180
Balance at beginning of prior year after applicable adjustments 2021-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2021-12-31 35,874
Carryover balanced portion elected for use to offset prior years funding requirement 2021-12-31 0
Prefunding balanced used to offset prior years funding requirement 2021-12-31 0
Amount remaining of carryover balance 2021-12-31 0
Amount remaining of prefunding balance 2021-12-31 35,874
Present value of excess contributions 2021-12-31 28,046
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2021-12-31 29,622
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2021-12-31 21,716
Reductions in caryover balances due to elections or deemed elections 2021-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2021-12-31 0
Balance of carryovers at beginning of current year 2021-12-31 0
Balance of prefunding at beginning of current year 2021-12-31 61,967
Total employer contributions 2021-12-31 703,056
Total employee contributions 2021-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2021-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2021-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2021-12-31 675,700
Unpaid minimum required contributions for all prior years 2021-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2021-12-31 0
Remaining amount of unpaid minimum required contributions 2021-12-31 0
Minimum required contributions for current year target normal cost 2021-12-31 19,700
Net shortfall amortization installment of oustanding balance 2021-12-31 296,836
Waiver amortization installment 2021-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2021-12-31 49,934
Carryover balance elected to use to offset funding requirement 2021-12-31 0
Prefunding balance elected to use to offset funding requirement 2021-12-31 14,400
Additional cash requirement 2021-12-31 35,534
Contributions allocatedtoward minimum required contributions for current year 2021-12-31 675,700
Unpaid minimum required contributions for current year 2021-12-31 0
Unpaid minimum required contributions for all years 2021-12-31 0
2020: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2020 401k membership
Market value of plan assets 2020-12-31 1,320,373
Acturial value of plan assets 2020-12-31 1,279,036
Funding target for retired participants and beneficiaries receiving payment 2020-12-31 330,857
Number of terminated vested participants 2020-12-31 9
Fundng target for terminated vested participants 2020-12-31 163,002
Active participant vested funding target 2020-12-31 1,007,173
Number of active participants 2020-12-31 33
Total funding liabilities for active participants 2020-12-31 1,007,173
Total participant count 2020-12-31 49
Total funding target for all participants 2020-12-31 1,501,032
Balance at beginning of prior year after applicable adjustments 2020-12-31 0
Prefunding balance at beginning of prior year after applicable adjustments 2020-12-31 15,159
Carryover balanced portion elected for use to offset prior years funding requirement 2020-12-31 0
Prefunding balanced used to offset prior years funding requirement 2020-12-31 15,159
Amount remaining of carryover balance 2020-12-31 0
Amount remaining of prefunding balance 2020-12-31 0
Present value of excess contributions 2020-12-31 32,053
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2020-12-31 35,874
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2020-12-31 35,874
Reductions in caryover balances due to elections or deemed elections 2020-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2020-12-31 0
Balance of carryovers at beginning of current year 2020-12-31 0
Balance of prefunding at beginning of current year 2020-12-31 35,874
Total employer contributions 2020-12-31 59,540
Total employee contributions 2020-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2020-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2020-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2020-12-31 57,480
Unpaid minimum required contributions for all prior years 2020-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2020-12-31 0
Remaining amount of unpaid minimum required contributions 2020-12-31 0
Minimum required contributions for current year target normal cost 2020-12-31 3,900
Net shortfall amortization installment of oustanding balance 2020-12-31 257,870
Waiver amortization installment 2020-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2020-12-31 29,434
Carryover balance elected to use to offset funding requirement 2020-12-31 0
Prefunding balance elected to use to offset funding requirement 2020-12-31 0
Additional cash requirement 2020-12-31 29,434
Contributions allocatedtoward minimum required contributions for current year 2020-12-31 57,480
Unpaid minimum required contributions for current year 2020-12-31 0
Unpaid minimum required contributions for all years 2020-12-31 0
2019: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2019 401k membership
Market value of plan assets 2019-12-31 1,267,384
Acturial value of plan assets 2019-12-31 1,305,147
Funding target for retired participants and beneficiaries receiving payment 2019-12-31 347,869
Number of terminated vested participants 2019-12-31 8
Fundng target for terminated vested participants 2019-12-31 149,062
Active participant vested funding target 2019-12-31 1,115,554
Number of active participants 2019-12-31 39
Total funding liabilities for active participants 2019-12-31 1,115,554
Total participant count 2019-12-31 54
Total funding target for all participants 2019-12-31 1,612,485
Balance at beginning of prior year after applicable adjustments 2019-12-31 80,935
Prefunding balance at beginning of prior year after applicable adjustments 2019-12-31 305,398
Carryover balanced portion elected for use to offset prior years funding requirement 2019-12-31 11,584
Prefunding balanced used to offset prior years funding requirement 2019-12-31 0
Amount remaining of carryover balance 2019-12-31 69,351
Amount remaining of prefunding balance 2019-12-31 305,398
Present value of excess contributions 2019-12-31 64,135
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2019-12-31 66,717
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2019-12-31 66,717
Reductions in caryover balances due to elections or deemed elections 2019-12-31 67,506
Reductions in prefunding balances due to elections or deemed elections 2019-12-31 348,832
Balance of carryovers at beginning of current year 2019-12-31 0
Balance of prefunding at beginning of current year 2019-12-31 15,159
Total employer contributions 2019-12-31 55,359
Total employee contributions 2019-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2019-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2019-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2019-12-31 52,811
Unpaid minimum required contributions for all prior years 2019-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2019-12-31 0
Remaining amount of unpaid minimum required contributions 2019-12-31 0
Minimum required contributions for current year target normal cost 2019-12-31 6,100
Net shortfall amortization installment of oustanding balance 2019-12-31 322,497
Waiver amortization installment 2019-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2019-12-31 67,902
Carryover balance elected to use to offset funding requirement 2019-12-31 0
Prefunding balance elected to use to offset funding requirement 2019-12-31 15,159
Additional cash requirement 2019-12-31 52,743
Contributions allocatedtoward minimum required contributions for current year 2019-12-31 52,811
Unpaid minimum required contributions for current year 2019-12-31 0
Unpaid minimum required contributions for all years 2019-12-31 0
2018: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2018 401k membership
Market value of plan assets 2018-12-31 2,465,294
Acturial value of plan assets 2018-12-31 2,324,281
Funding target for retired participants and beneficiaries receiving payment 2018-12-31 355,683
Number of terminated vested participants 2018-12-31 9
Fundng target for terminated vested participants 2018-12-31 641,481
Active participant vested funding target 2018-12-31 1,425,270
Number of active participants 2018-12-31 48
Total funding liabilities for active participants 2018-12-31 1,425,270
Total participant count 2018-12-31 64
Total funding target for all participants 2018-12-31 2,422,434
Balance at beginning of prior year after applicable adjustments 2018-12-31 1,645,069
Prefunding balance at beginning of prior year after applicable adjustments 2018-12-31 264,689
Carryover balanced portion elected for use to offset prior years funding requirement 2018-12-31 12,000
Prefunding balanced used to offset prior years funding requirement 2018-12-31 0
Amount remaining of carryover balance 2018-12-31 1,633,069
Amount remaining of prefunding balance 2018-12-31 264,689
Present value of excess contributions 2018-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2018-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2018-12-31 0
Reductions in caryover balances due to elections or deemed elections 2018-12-31 1,803,300
Reductions in prefunding balances due to elections or deemed elections 2018-12-31 0
Balance of carryovers at beginning of current year 2018-12-31 80,935
Balance of prefunding at beginning of current year 2018-12-31 305,398
Total employer contributions 2018-12-31 155,000
Total employee contributions 2018-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2018-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2018-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2018-12-31 143,343
Unpaid minimum required contributions for all prior years 2018-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2018-12-31 0
Remaining amount of unpaid minimum required contributions 2018-12-31 0
Minimum required contributions for current year target normal cost 2018-12-31 11,700
Net shortfall amortization installment of oustanding balance 2018-12-31 484,486
Waiver amortization installment 2018-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2018-12-31 90,792
Carryover balance elected to use to offset funding requirement 2018-12-31 11,584
Prefunding balance elected to use to offset funding requirement 2018-12-31 0
Additional cash requirement 2018-12-31 79,208
Contributions allocatedtoward minimum required contributions for current year 2018-12-31 143,343
Unpaid minimum required contributions for current year 2018-12-31 0
Unpaid minimum required contributions for all years 2018-12-31 0
2017: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2017 401k membership
Market value of plan assets 2017-12-31 2,690,058
Acturial value of plan assets 2017-12-31 2,754,552
Funding target for retired participants and beneficiaries receiving payment 2017-12-31 308,448
Number of terminated vested participants 2017-12-31 4
Fundng target for terminated vested participants 2017-12-31 217,447
Active participant vested funding target 2017-12-31 2,189,075
Number of active participants 2017-12-31 66
Total funding liabilities for active participants 2017-12-31 2,189,075
Total participant count 2017-12-31 76
Total funding target for all participants 2017-12-31 2,714,970
Balance at beginning of prior year after applicable adjustments 2017-12-31 1,554,551
Prefunding balance at beginning of prior year after applicable adjustments 2017-12-31 248,371
Carryover balanced portion elected for use to offset prior years funding requirement 2017-12-31 10,900
Prefunding balanced used to offset prior years funding requirement 2017-12-31 0
Amount remaining of carryover balance 2017-12-31 1,543,651
Amount remaining of prefunding balance 2017-12-31 248,371
Present value of excess contributions 2017-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2017-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2017-12-31 0
Reductions in caryover balances due to elections or deemed elections 2017-12-31 0
Reductions in prefunding balances due to elections or deemed elections 2017-12-31 0
Balance of carryovers at beginning of current year 2017-12-31 1,645,069
Balance of prefunding at beginning of current year 2017-12-31 264,689
Total employer contributions 2017-12-31 0
Total employee contributions 2017-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2017-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2017-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2017-12-31 0
Unpaid minimum required contributions for all prior years 2017-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2017-12-31 0
Remaining amount of unpaid minimum required contributions 2017-12-31 0
Minimum required contributions for current year target normal cost 2017-12-31 12,000
Net shortfall amortization installment of oustanding balance 2017-12-31 0
Waiver amortization installment 2017-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2017-12-31 12,000
Carryover balance elected to use to offset funding requirement 2017-12-31 12,000
Prefunding balance elected to use to offset funding requirement 2017-12-31 0
Additional cash requirement 2017-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for current year 2017-12-31 0
Unpaid minimum required contributions for all years 2017-12-31 0
2016: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2016 401k membership
Market value of plan assets 2016-12-31 2,805,819
Acturial value of plan assets 2016-12-31 2,950,359
Funding target for retired participants and beneficiaries receiving payment 2016-12-31 312,438
Number of terminated vested participants 2016-12-31 6
Fundng target for terminated vested participants 2016-12-31 266,894
Active participant vested funding target 2016-12-31 2,152,540
Number of active participants 2016-12-31 71
Total funding liabilities for active participants 2016-12-31 2,152,540
Total participant count 2016-12-31 83
Total funding target for all participants 2016-12-31 2,731,872
Balance at beginning of prior year after applicable adjustments 2016-12-31 1,560,158
Prefunding balance at beginning of prior year after applicable adjustments 2016-12-31 247,925
Carryover balanced portion elected for use to offset prior years funding requirement 2016-12-31 8,400
Amount remaining of carryover balance 2016-12-31 1,551,758
Amount remaining of prefunding balance 2016-12-31 247,925
Present value of excess contributions 2016-12-31 0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance 2016-12-31 0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance 2016-12-31 0
Reductions in caryover balances due to elections or deemed elections 2016-12-31 0
Balance of carryovers at beginning of current year 2016-12-31 1,554,551
Balance of prefunding at beginning of current year 2016-12-31 248,371
Total employer contributions 2016-12-31 0
Total employee contributions 2016-12-31 0
Contributions allocated toward unpaid minimum require contributions from prior years 2016-12-31 0
Contributions made to avoid restrictions adjusted to valuation date 2016-12-31 0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date 2016-12-31 0
Unpaid minimum required contributions for all prior years 2016-12-31 0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years 2016-12-31 0
Remaining amount of unpaid minimum required contributions 2016-12-31 0
Minimum required contributions for current year target normal cost 2016-12-31 10,900
Net shortfall amortization installment of oustanding balance 2016-12-31 0
Waiver amortization installment 2016-12-31 0
Total funding amount beforereflecting carryover/prefunding balances 2016-12-31 10,900
Carryover balance elected to use to offset funding requirement 2016-12-31 10,900
Prefunding balance elected to use to offset funding requirement 2016-12-31 0
Additional cash requirement 2016-12-31 0
Contributions allocatedtoward minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for current year 2016-12-31 0
Unpaid minimum required contributions for all years 2016-12-31 0

Measure	Date	Value
2022: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2022 401k membership
Market value of plan assets	2022-12-31	1,158,770
Acturial value of plan assets	2022-12-31	1,109,720
Funding target for retired participants and beneficiaries receiving payment	2022-12-31	279,474
Number of terminated vested participants	2022-12-31	7
Fundng target for terminated vested participants	2022-12-31	134,123
Active participant vested funding target	2022-12-31	402,056
Number of active participants	2022-12-31	17
Total funding liabilities for active participants	2022-12-31	402,056
Total participant count	2022-12-31	30
Total funding target for all participants	2022-12-31	815,653
Balance at beginning of prior year after applicable adjustments	2022-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2022-12-31	61,967
Carryover balanced portion elected for use to offset prior years funding requirement	2022-12-31	0
Prefunding balanced used to offset prior years funding requirement	2022-12-31	14,400
Amount remaining of carryover balance	2022-12-31	0
Amount remaining of prefunding balance	2022-12-31	47,567
Present value of excess contributions	2022-12-31	640,166
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2022-12-31	675,855
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2022-12-31	0
Reductions in caryover balances due to elections or deemed elections	2022-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2022-12-31	0
Balance of carryovers at beginning of current year	2022-12-31	0
Balance of prefunding at beginning of current year	2022-12-31	52,181
Total employer contributions	2022-12-31	0
Total employee contributions	2022-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2022-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2022-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2022-12-31	0
Unpaid minimum required contributions for all prior years	2022-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2022-12-31	0
Remaining amount of unpaid minimum required contributions	2022-12-31	0
Minimum required contributions for current year target normal cost	2022-12-31	4,125
Net shortfall amortization installment of oustanding balance	2022-12-31	0
Waiver amortization installment	2022-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2022-12-31	0
Additional cash requirement	2022-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for current year	2022-12-31	0
Unpaid minimum required contributions for all years	2022-12-31	0
2021: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2021 401k membership
Market value of plan assets	2021-12-31	1,346,258
Acturial value of plan assets	2021-12-31	1,249,311
Funding target for retired participants and beneficiaries receiving payment	2021-12-31	308,747
Number of terminated vested participants	2021-12-31	7
Fundng target for terminated vested participants	2021-12-31	173,742
Active participant vested funding target	2021-12-31	1,001,691
Number of active participants	2021-12-31	28
Total funding liabilities for active participants	2021-12-31	1,001,691
Total participant count	2021-12-31	42
Total funding target for all participants	2021-12-31	1,484,180
Balance at beginning of prior year after applicable adjustments	2021-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2021-12-31	35,874
Carryover balanced portion elected for use to offset prior years funding requirement	2021-12-31	0
Prefunding balanced used to offset prior years funding requirement	2021-12-31	0
Amount remaining of carryover balance	2021-12-31	0
Amount remaining of prefunding balance	2021-12-31	35,874
Present value of excess contributions	2021-12-31	28,046
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2021-12-31	29,622
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2021-12-31	21,716
Reductions in caryover balances due to elections or deemed elections	2021-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2021-12-31	0
Balance of carryovers at beginning of current year	2021-12-31	0
Balance of prefunding at beginning of current year	2021-12-31	61,967
Total employer contributions	2021-12-31	703,056
Total employee contributions	2021-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2021-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2021-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2021-12-31	675,700
Unpaid minimum required contributions for all prior years	2021-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2021-12-31	0
Remaining amount of unpaid minimum required contributions	2021-12-31	0
Minimum required contributions for current year target normal cost	2021-12-31	19,700
Net shortfall amortization installment of oustanding balance	2021-12-31	296,836
Waiver amortization installment	2021-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2021-12-31	49,934
Carryover balance elected to use to offset funding requirement	2021-12-31	0
Prefunding balance elected to use to offset funding requirement	2021-12-31	14,400
Additional cash requirement	2021-12-31	35,534
Contributions allocatedtoward minimum required contributions for current year	2021-12-31	675,700
Unpaid minimum required contributions for current year	2021-12-31	0
Unpaid minimum required contributions for all years	2021-12-31	0
2020: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2020 401k membership
Market value of plan assets	2020-12-31	1,320,373
Acturial value of plan assets	2020-12-31	1,279,036
Funding target for retired participants and beneficiaries receiving payment	2020-12-31	330,857
Number of terminated vested participants	2020-12-31	9
Fundng target for terminated vested participants	2020-12-31	163,002
Active participant vested funding target	2020-12-31	1,007,173
Number of active participants	2020-12-31	33
Total funding liabilities for active participants	2020-12-31	1,007,173
Total participant count	2020-12-31	49
Total funding target for all participants	2020-12-31	1,501,032
Balance at beginning of prior year after applicable adjustments	2020-12-31	0
Prefunding balance at beginning of prior year after applicable adjustments	2020-12-31	15,159
Carryover balanced portion elected for use to offset prior years funding requirement	2020-12-31	0
Prefunding balanced used to offset prior years funding requirement	2020-12-31	15,159
Amount remaining of carryover balance	2020-12-31	0
Amount remaining of prefunding balance	2020-12-31	0
Present value of excess contributions	2020-12-31	32,053
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2020-12-31	35,874
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2020-12-31	35,874
Reductions in caryover balances due to elections or deemed elections	2020-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2020-12-31	0
Balance of carryovers at beginning of current year	2020-12-31	0
Balance of prefunding at beginning of current year	2020-12-31	35,874
Total employer contributions	2020-12-31	59,540
Total employee contributions	2020-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2020-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2020-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2020-12-31	57,480
Unpaid minimum required contributions for all prior years	2020-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2020-12-31	0
Remaining amount of unpaid minimum required contributions	2020-12-31	0
Minimum required contributions for current year target normal cost	2020-12-31	3,900
Net shortfall amortization installment of oustanding balance	2020-12-31	257,870
Waiver amortization installment	2020-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2020-12-31	29,434
Carryover balance elected to use to offset funding requirement	2020-12-31	0
Prefunding balance elected to use to offset funding requirement	2020-12-31	0
Additional cash requirement	2020-12-31	29,434
Contributions allocatedtoward minimum required contributions for current year	2020-12-31	57,480
Unpaid minimum required contributions for current year	2020-12-31	0
Unpaid minimum required contributions for all years	2020-12-31	0
2019: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2019 401k membership
Market value of plan assets	2019-12-31	1,267,384
Acturial value of plan assets	2019-12-31	1,305,147
Funding target for retired participants and beneficiaries receiving payment	2019-12-31	347,869
Number of terminated vested participants	2019-12-31	8
Fundng target for terminated vested participants	2019-12-31	149,062
Active participant vested funding target	2019-12-31	1,115,554
Number of active participants	2019-12-31	39
Total funding liabilities for active participants	2019-12-31	1,115,554
Total participant count	2019-12-31	54
Total funding target for all participants	2019-12-31	1,612,485
Balance at beginning of prior year after applicable adjustments	2019-12-31	80,935
Prefunding balance at beginning of prior year after applicable adjustments	2019-12-31	305,398
Carryover balanced portion elected for use to offset prior years funding requirement	2019-12-31	11,584
Prefunding balanced used to offset prior years funding requirement	2019-12-31	0
Amount remaining of carryover balance	2019-12-31	69,351
Amount remaining of prefunding balance	2019-12-31	305,398
Present value of excess contributions	2019-12-31	64,135
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2019-12-31	66,717
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2019-12-31	66,717
Reductions in caryover balances due to elections or deemed elections	2019-12-31	67,506
Reductions in prefunding balances due to elections or deemed elections	2019-12-31	348,832
Balance of carryovers at beginning of current year	2019-12-31	0
Balance of prefunding at beginning of current year	2019-12-31	15,159
Total employer contributions	2019-12-31	55,359
Total employee contributions	2019-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2019-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2019-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2019-12-31	52,811
Unpaid minimum required contributions for all prior years	2019-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2019-12-31	0
Remaining amount of unpaid minimum required contributions	2019-12-31	0
Minimum required contributions for current year target normal cost	2019-12-31	6,100
Net shortfall amortization installment of oustanding balance	2019-12-31	322,497
Waiver amortization installment	2019-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2019-12-31	67,902
Carryover balance elected to use to offset funding requirement	2019-12-31	0
Prefunding balance elected to use to offset funding requirement	2019-12-31	15,159
Additional cash requirement	2019-12-31	52,743
Contributions allocatedtoward minimum required contributions for current year	2019-12-31	52,811
Unpaid minimum required contributions for current year	2019-12-31	0
Unpaid minimum required contributions for all years	2019-12-31	0
2018: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2018 401k membership
Market value of plan assets	2018-12-31	2,465,294
Acturial value of plan assets	2018-12-31	2,324,281
Funding target for retired participants and beneficiaries receiving payment	2018-12-31	355,683
Number of terminated vested participants	2018-12-31	9
Fundng target for terminated vested participants	2018-12-31	641,481
Active participant vested funding target	2018-12-31	1,425,270
Number of active participants	2018-12-31	48
Total funding liabilities for active participants	2018-12-31	1,425,270
Total participant count	2018-12-31	64
Total funding target for all participants	2018-12-31	2,422,434
Balance at beginning of prior year after applicable adjustments	2018-12-31	1,645,069
Prefunding balance at beginning of prior year after applicable adjustments	2018-12-31	264,689
Carryover balanced portion elected for use to offset prior years funding requirement	2018-12-31	12,000
Prefunding balanced used to offset prior years funding requirement	2018-12-31	0
Amount remaining of carryover balance	2018-12-31	1,633,069
Amount remaining of prefunding balance	2018-12-31	264,689
Present value of excess contributions	2018-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2018-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2018-12-31	0
Reductions in caryover balances due to elections or deemed elections	2018-12-31	1,803,300
Reductions in prefunding balances due to elections or deemed elections	2018-12-31	0
Balance of carryovers at beginning of current year	2018-12-31	80,935
Balance of prefunding at beginning of current year	2018-12-31	305,398
Total employer contributions	2018-12-31	155,000
Total employee contributions	2018-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2018-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2018-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2018-12-31	143,343
Unpaid minimum required contributions for all prior years	2018-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2018-12-31	0
Remaining amount of unpaid minimum required contributions	2018-12-31	0
Minimum required contributions for current year target normal cost	2018-12-31	11,700
Net shortfall amortization installment of oustanding balance	2018-12-31	484,486
Waiver amortization installment	2018-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2018-12-31	90,792
Carryover balance elected to use to offset funding requirement	2018-12-31	11,584
Prefunding balance elected to use to offset funding requirement	2018-12-31	0
Additional cash requirement	2018-12-31	79,208
Contributions allocatedtoward minimum required contributions for current year	2018-12-31	143,343
Unpaid minimum required contributions for current year	2018-12-31	0
Unpaid minimum required contributions for all years	2018-12-31	0
2017: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2017 401k membership
Market value of plan assets	2017-12-31	2,690,058
Acturial value of plan assets	2017-12-31	2,754,552
Funding target for retired participants and beneficiaries receiving payment	2017-12-31	308,448
Number of terminated vested participants	2017-12-31	4
Fundng target for terminated vested participants	2017-12-31	217,447
Active participant vested funding target	2017-12-31	2,189,075
Number of active participants	2017-12-31	66
Total funding liabilities for active participants	2017-12-31	2,189,075
Total participant count	2017-12-31	76
Total funding target for all participants	2017-12-31	2,714,970
Balance at beginning of prior year after applicable adjustments	2017-12-31	1,554,551
Prefunding balance at beginning of prior year after applicable adjustments	2017-12-31	248,371
Carryover balanced portion elected for use to offset prior years funding requirement	2017-12-31	10,900
Prefunding balanced used to offset prior years funding requirement	2017-12-31	0
Amount remaining of carryover balance	2017-12-31	1,543,651
Amount remaining of prefunding balance	2017-12-31	248,371
Present value of excess contributions	2017-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2017-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2017-12-31	0
Reductions in caryover balances due to elections or deemed elections	2017-12-31	0
Reductions in prefunding balances due to elections or deemed elections	2017-12-31	0
Balance of carryovers at beginning of current year	2017-12-31	1,645,069
Balance of prefunding at beginning of current year	2017-12-31	264,689
Total employer contributions	2017-12-31	0
Total employee contributions	2017-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2017-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2017-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2017-12-31	0
Unpaid minimum required contributions for all prior years	2017-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2017-12-31	0
Remaining amount of unpaid minimum required contributions	2017-12-31	0
Minimum required contributions for current year target normal cost	2017-12-31	12,000
Net shortfall amortization installment of oustanding balance	2017-12-31	0
Waiver amortization installment	2017-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2017-12-31	12,000
Carryover balance elected to use to offset funding requirement	2017-12-31	12,000
Prefunding balance elected to use to offset funding requirement	2017-12-31	0
Additional cash requirement	2017-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for current year	2017-12-31	0
Unpaid minimum required contributions for all years	2017-12-31	0
2016: SBA CASH BALANCE PENSION PLAN FOR BAY BANKS OF VIRGINIA, INC. 2016 401k membership
Market value of plan assets	2016-12-31	2,805,819
Acturial value of plan assets	2016-12-31	2,950,359
Funding target for retired participants and beneficiaries receiving payment	2016-12-31	312,438
Number of terminated vested participants	2016-12-31	6
Fundng target for terminated vested participants	2016-12-31	266,894
Active participant vested funding target	2016-12-31	2,152,540
Number of active participants	2016-12-31	71
Total funding liabilities for active participants	2016-12-31	2,152,540
Total participant count	2016-12-31	83
Total funding target for all participants	2016-12-31	2,731,872
Balance at beginning of prior year after applicable adjustments	2016-12-31	1,560,158
Prefunding balance at beginning of prior year after applicable adjustments	2016-12-31	247,925
Carryover balanced portion elected for use to offset prior years funding requirement	2016-12-31	8,400
Amount remaining of carryover balance	2016-12-31	1,551,758
Amount remaining of prefunding balance	2016-12-31	247,925
Present value of excess contributions	2016-12-31	0
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance	2016-12-31	0
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance	2016-12-31	0
Reductions in caryover balances due to elections or deemed elections	2016-12-31	0
Balance of carryovers at beginning of current year	2016-12-31	1,554,551
Balance of prefunding at beginning of current year	2016-12-31	248,371
Total employer contributions	2016-12-31	0
Total employee contributions	2016-12-31	0
Contributions allocated toward unpaid minimum require contributions from prior years	2016-12-31	0
Contributions made to avoid restrictions adjusted to valuation date	2016-12-31	0
Contributions allocated toward minimum required contributions for current year adjusted to valuation date	2016-12-31	0
Unpaid minimum required contributions for all prior years	2016-12-31	0
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years	2016-12-31	0
Remaining amount of unpaid minimum required contributions	2016-12-31	0
Minimum required contributions for current year target normal cost	2016-12-31	10,900
Net shortfall amortization installment of oustanding balance	2016-12-31	0
Waiver amortization installment	2016-12-31	0
Total funding amount beforereflecting carryover/prefunding balances	2016-12-31	10,900
Carryover balance elected to use to offset funding requirement	2016-12-31	10,900
Prefunding balance elected to use to offset funding requirement	2016-12-31	0
Additional cash requirement	2016-12-31	0
Contributions allocatedtoward minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for current year	2016-12-31	0
Unpaid minimum required contributions for all years	2016-12-31	0

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Company Name:	BAY BANKS OF VIRGINIA, INC.
Employer identification number (EIN):	541838100
NAIC Classification:	522110
NAIC Description:	Commercial Banking

Jurisdiction of Incorporation:	Virginia Secretary of State
Incorporation Date:	1997-02-10
Company Identification Number:	0479273
Legal Registered Office Address:	100 SOUTH MAIN STREET P. O. BOX 5 KILMARNOCK United States of America (USA) 22482