THE FREEDOM BANK OF VIRGINIA has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan FREEDOM BANK OF VIRGINIA 401(K) PLAN
| Measure | Date | Value |
|---|
| 2023: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2023 401k membership |
|---|
| Total participants, beginning-of-year | 2023-01-01 | 130 |
| Total number of active participants reported on line 7a of the Form 5500 | 2023-01-01 | 93 |
| Number of retired or separated participants receiving benefits | 2023-01-01 | 1 |
| Number of other retired or separated participants entitled to future benefits | 2023-01-01 | 32 |
| Total of all active and inactive participants | 2023-01-01 | 126 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2023-01-01 | 0 |
| Total participants | 2023-01-01 | 126 |
| Number of participants with account balances | 2023-01-01 | 126 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2023-01-01 | 0 |
| 2022: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2022 401k membership |
|---|
| Total participants, beginning-of-year | 2022-01-01 | 126 |
| Total number of active participants reported on line 7a of the Form 5500 | 2022-01-01 | 108 |
| Number of retired or separated participants receiving benefits | 2022-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2022-01-01 | 22 |
| Total of all active and inactive participants | 2022-01-01 | 130 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2022-01-01 | 0 |
| Total participants | 2022-01-01 | 130 |
| Number of participants with account balances | 2022-01-01 | 121 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2022-01-01 | 0 |
| 2021: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2021 401k membership |
|---|
| Total participants, beginning-of-year | 2021-01-01 | 97 |
| Total number of active participants reported on line 7a of the Form 5500 | 2021-01-01 | 108 |
| Number of retired or separated participants receiving benefits | 2021-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2021-01-01 | 18 |
| Total of all active and inactive participants | 2021-01-01 | 126 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2021-01-01 | 0 |
| Total participants | 2021-01-01 | 126 |
| Number of participants with account balances | 2021-01-01 | 115 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2021-01-01 | 0 |
| 2020: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2020 401k membership |
|---|
| Total participants, beginning-of-year | 2020-01-01 | 96 |
| Total number of active participants reported on line 7a of the Form 5500 | 2020-01-01 | 80 |
| Number of retired or separated participants receiving benefits | 2020-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2020-01-01 | 17 |
| Total of all active and inactive participants | 2020-01-01 | 97 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2020-01-01 | 0 |
| Total participants | 2020-01-01 | 97 |
| Number of participants with account balances | 2020-01-01 | 91 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2020-01-01 | 0 |
| 2019: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2019 401k membership |
|---|
| Total participants, beginning-of-year | 2019-01-01 | 103 |
| Total number of active participants reported on line 7a of the Form 5500 | 2019-01-01 | 76 |
| Number of retired or separated participants receiving benefits | 2019-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2019-01-01 | 20 |
| Total of all active and inactive participants | 2019-01-01 | 96 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2019-01-01 | 0 |
| Total participants | 2019-01-01 | 96 |
| Number of participants with account balances | 2019-01-01 | 87 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2019-01-01 | 1 |
| 2018: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2018 401k membership |
|---|
| Total participants, beginning-of-year | 2018-01-01 | 92 |
| Total number of active participants reported on line 7a of the Form 5500 | 2018-01-01 | 85 |
| Number of retired or separated participants receiving benefits | 2018-01-01 | 3 |
| Number of other retired or separated participants entitled to future benefits | 2018-01-01 | 14 |
| Total of all active and inactive participants | 2018-01-01 | 102 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2018-01-01 | 0 |
| Total participants | 2018-01-01 | 102 |
| Number of participants with account balances | 2018-01-01 | 86 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2018-01-01 | 0 |
| 2017: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2017 401k membership |
|---|
| Total participants, beginning-of-year | 2017-01-01 | 72 |
| Total number of active participants reported on line 7a of the Form 5500 | 2017-01-01 | 83 |
| Number of retired or separated participants receiving benefits | 2017-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2017-01-01 | 9 |
| Total of all active and inactive participants | 2017-01-01 | 92 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2017-01-01 | 0 |
| Total participants | 2017-01-01 | 92 |
| Number of participants with account balances | 2017-01-01 | 0 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2017-01-01 | 0 |
| 2016: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2016 401k membership |
|---|
| Total participants, beginning-of-year | 2016-01-01 | 72 |
| Total number of active participants reported on line 7a of the Form 5500 | 2016-01-01 | 80 |
| Number of retired or separated participants receiving benefits | 2016-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2016-01-01 | 2 |
| Total of all active and inactive participants | 2016-01-01 | 82 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2016-01-01 | 0 |
| Total participants | 2016-01-01 | 82 |
| Number of participants with account balances | 2016-01-01 | 66 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2016-01-01 | 0 |
| 2015: FREEDOM BANK OF VIRGINIA 401(K) PLAN 2015 401k membership |
|---|
| Total participants, beginning-of-year | 2015-01-01 | 58 |
| Total number of active participants reported on line 7a of the Form 5500 | 2015-01-01 | 69 |
| Number of retired or separated participants receiving benefits | 2015-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2015-01-01 | 2 |
| Total of all active and inactive participants | 2015-01-01 | 71 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2015-01-01 | 1 |
| Total participants | 2015-01-01 | 72 |
| Number of participants with account balances | 2015-01-01 | 64 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2015-01-01 | 0 |
| Measure | Date | Value |
|---|
| 2023 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2023 401k financial data |
|---|
| Total unrealized appreciation/depreciation of assets | 2023-12-31 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-12-31 | $0 |
| Total income from all sources (including contributions) | 2023-12-31 | $2,417,946 |
| Total loss/gain on sale of assets | 2023-12-31 | $0 |
| Total of all expenses incurred | 2023-12-31 | $714,069 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2023-12-31 | $665,244 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2023-12-31 | $1,347,930 |
| Value of total assets at end of year | 2023-12-31 | $8,863,919 |
| Value of total assets at beginning of year | 2023-12-31 | $7,160,042 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2023-12-31 | $48,825 |
| Total interest from all sources | 2023-12-31 | $2,032 |
| Total dividends received (eg from common stock, registered investment company shares) | 2023-12-31 | $275,153 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2023-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2023-12-31 | $275,153 |
| Was this plan covered by a fidelity bond | 2023-12-31 | Yes |
| Value of fidelity bond cover | 2023-12-31 | $500,000 |
| If this is an individual account plan, was there a blackout period | 2023-12-31 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2023-12-31 | No |
| Contributions received from participants | 2023-12-31 | $1,016,901 |
| Participant contributions at end of year | 2023-12-31 | $34,972 |
| Participant contributions at beginning of year | 2023-12-31 | $48,477 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2023-12-31 | $4,431 |
| Other income not declared elsewhere | 2023-12-31 | $280 |
| Administrative expenses (other) incurred | 2023-12-31 | $3,212 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-12-31 | No |
| Value of net income/loss | 2023-12-31 | $1,703,877 |
| Value of net assets at end of year (total assets less liabilities) | 2023-12-31 | $8,863,919 |
| Value of net assets at beginning of year (total assets less liabilities) | 2023-12-31 | $7,160,042 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2023-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2023-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2023-12-31 | No |
| Investment advisory and management fees | 2023-12-31 | $2,210 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2023-12-31 | $8,532,771 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2023-12-31 | $6,304,423 |
| Interest on participant loans | 2023-12-31 | $2,032 |
| Value of interest in common/collective trusts at end of year | 2023-12-31 | $296,176 |
| Value of interest in common/collective trusts at beginning of year | 2023-12-31 | $267,748 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2023-12-31 | $785,100 |
| Net investment gain or loss from common/collective trusts | 2023-12-31 | $7,451 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2023-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2023-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2023-12-31 | No |
| Assets. Invements in employer securities at beginning of year | 2023-12-31 | $539,394 |
| Contributions received in cash from employer | 2023-12-31 | $326,598 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2023-12-31 | $665,244 |
| Contract administrator fees | 2023-12-31 | $43,403 |
| Did the plan have assets held for investment | 2023-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2023-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2023-12-31 | Unqualified |
| Accountancy firm name | 2023-12-31 | CROWE LLP |
| Accountancy firm EIN | 2023-12-31 | 350921680 |
| Total unrealized appreciation/depreciation of assets | 2023-01-01 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-01-01 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2023-01-01 | $0 |
| Total income from all sources (including contributions) | 2023-01-01 | $2,417,946 |
| Total loss/gain on sale of assets | 2023-01-01 | $0 |
| Total of all expenses incurred | 2023-01-01 | $714,069 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2023-01-01 | $665,244 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2023-01-01 | $1,347,930 |
| Value of total assets at end of year | 2023-01-01 | $8,863,919 |
| Value of total assets at beginning of year | 2023-01-01 | $7,160,042 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2023-01-01 | $48,825 |
| Total interest from all sources | 2023-01-01 | $2,032 |
| Total dividends received (eg from common stock, registered investment company shares) | 2023-01-01 | $275,153 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2023-01-01 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2023-01-01 | $275,153 |
| Was this plan covered by a fidelity bond | 2023-01-01 | Yes |
| Value of fidelity bond cover | 2023-01-01 | $500,000 |
| If this is an individual account plan, was there a blackout period | 2023-01-01 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2023-01-01 | No |
| Contributions received from participants | 2023-01-01 | $1,016,901 |
| Participant contributions at end of year | 2023-01-01 | $34,972 |
| Participant contributions at beginning of year | 2023-01-01 | $48,477 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2023-01-01 | $4,431 |
| Other income not declared elsewhere | 2023-01-01 | $280 |
| Administrative expenses (other) incurred | 2023-01-01 | $3,212 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-01-01 | No |
| Value of net income/loss | 2023-01-01 | $1,703,877 |
| Value of net assets at end of year (total assets less liabilities) | 2023-01-01 | $8,863,919 |
| Value of net assets at beginning of year (total assets less liabilities) | 2023-01-01 | $7,160,042 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2023-01-01 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2023-01-01 | No |
| Were any leases to which the plan was party in default or uncollectible | 2023-01-01 | No |
| Investment advisory and management fees | 2023-01-01 | $2,210 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2023-01-01 | $8,532,771 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2023-01-01 | $6,304,423 |
| Interest on participant loans | 2023-01-01 | $2,032 |
| Value of interest in common/collective trusts at end of year | 2023-01-01 | $296,176 |
| Value of interest in common/collective trusts at beginning of year | 2023-01-01 | $267,748 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2023-01-01 | $785,100 |
| Net investment gain or loss from common/collective trusts | 2023-01-01 | $7,451 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2023-01-01 | No |
| Was there a failure to transmit to the plan any participant contributions | 2023-01-01 | No |
| Has the plan failed to provide any benefit when due under the plan | 2023-01-01 | No |
| Assets. Invements in employer securities at beginning of year | 2023-01-01 | $539,394 |
| Contributions received in cash from employer | 2023-01-01 | $326,598 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2023-01-01 | $665,244 |
| Contract administrator fees | 2023-01-01 | $43,403 |
| Did the plan have assets held for investment | 2023-01-01 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2023-01-01 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2023-01-01 | No |
| Opinion of an independent qualified public accountant for this plan | 2023-01-01 | 1 |
| Accountancy firm name | 2023-01-01 | CROWE LLP |
| Accountancy firm EIN | 2023-01-01 | 350921680 |
| 2022 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2022 401k financial data |
|---|
| Unrealized appreciation/depreciation of other (non real estate) assets | 2022-12-31 | $43,737 |
| Total unrealized appreciation/depreciation of assets | 2022-12-31 | $43,737 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $0 |
| Total income from all sources (including contributions) | 2022-12-31 | $238,632 |
| Total loss/gain on sale of assets | 2022-12-31 | $0 |
| Total of all expenses incurred | 2022-12-31 | $1,084,007 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-12-31 | $1,058,138 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-12-31 | $1,394,815 |
| Value of total assets at end of year | 2022-12-31 | $7,160,042 |
| Value of total assets at beginning of year | 2022-12-31 | $8,005,417 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-12-31 | $25,869 |
| Total interest from all sources | 2022-12-31 | $1,113 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-12-31 | $257,698 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-12-31 | $257,698 |
| Was this plan covered by a fidelity bond | 2022-12-31 | Yes |
| Value of fidelity bond cover | 2022-12-31 | $500,000 |
| If this is an individual account plan, was there a blackout period | 2022-12-31 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2022-12-31 | No |
| Contributions received from participants | 2022-12-31 | $976,501 |
| Participant contributions at end of year | 2022-12-31 | $48,477 |
| Participant contributions at beginning of year | 2022-12-31 | $0 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2022-12-31 | $94,897 |
| Administrative expenses (other) incurred | 2022-12-31 | $25,869 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Value of net income/loss | 2022-12-31 | $-845,375 |
| Value of net assets at end of year (total assets less liabilities) | 2022-12-31 | $7,160,042 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-12-31 | $8,005,417 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-12-31 | No |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-12-31 | $6,304,423 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-12-31 | $7,030,607 |
| Interest on participant loans | 2022-12-31 | $1,113 |
| Value of interest in common/collective trusts at end of year | 2022-12-31 | $267,748 |
| Value of interest in common/collective trusts at beginning of year | 2022-12-31 | $396,707 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-12-31 | $-1,466,345 |
| Net investment gain or loss from common/collective trusts | 2022-12-31 | $7,614 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2022-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-12-31 | No |
| Assets. Invements in employer securities at end of year | 2022-12-31 | $539,394 |
| Assets. Invements in employer securities at beginning of year | 2022-12-31 | $578,103 |
| Contributions received in cash from employer | 2022-12-31 | $323,417 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-12-31 | $1,058,138 |
| Did the plan have assets held for investment | 2022-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-12-31 | Unqualified |
| Accountancy firm name | 2022-12-31 | CROWE LLP |
| Accountancy firm EIN | 2022-12-31 | 350921680 |
| Unrealized appreciation/depreciation of other (non real estate) assets | 2022-01-01 | $43,737 |
| Total unrealized appreciation/depreciation of assets | 2022-01-01 | $43,737 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-01-01 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-01-01 | $0 |
| Total income from all sources (including contributions) | 2022-01-01 | $238,632 |
| Total loss/gain on sale of assets | 2022-01-01 | $0 |
| Total of all expenses incurred | 2022-01-01 | $1,084,007 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-01-01 | $1,058,138 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-01-01 | $1,394,815 |
| Value of total assets at end of year | 2022-01-01 | $7,160,042 |
| Value of total assets at beginning of year | 2022-01-01 | $8,005,417 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-01-01 | $25,869 |
| Total interest from all sources | 2022-01-01 | $1,113 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-01-01 | $257,698 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-01-01 | $257,698 |
| Was this plan covered by a fidelity bond | 2022-01-01 | Yes |
| Value of fidelity bond cover | 2022-01-01 | $500,000 |
| If this is an individual account plan, was there a blackout period | 2022-01-01 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2022-01-01 | No |
| Contributions received from participants | 2022-01-01 | $976,501 |
| Participant contributions at end of year | 2022-01-01 | $48,477 |
| Participant contributions at beginning of year | 2022-01-01 | $0 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2022-01-01 | $94,897 |
| Administrative expenses (other) incurred | 2022-01-01 | $25,869 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-01-01 | No |
| Value of net income/loss | 2022-01-01 | $-845,375 |
| Value of net assets at end of year (total assets less liabilities) | 2022-01-01 | $7,160,042 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-01-01 | $8,005,417 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-01-01 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-01-01 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-01-01 | No |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-01-01 | $6,304,423 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-01-01 | $7,030,607 |
| Interest on participant loans | 2022-01-01 | $1,113 |
| Value of interest in common/collective trusts at end of year | 2022-01-01 | $267,748 |
| Value of interest in common/collective trusts at beginning of year | 2022-01-01 | $396,707 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-01-01 | $-1,466,345 |
| Net investment gain or loss from common/collective trusts | 2022-01-01 | $7,614 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-01-01 | No |
| Was there a failure to transmit to the plan any participant contributions | 2022-01-01 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-01-01 | No |
| Assets. Invements in employer securities at end of year | 2022-01-01 | $539,394 |
| Assets. Invements in employer securities at beginning of year | 2022-01-01 | $578,103 |
| Contributions received in cash from employer | 2022-01-01 | $323,417 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-01-01 | $1,058,138 |
| Did the plan have assets held for investment | 2022-01-01 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-01-01 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-01-01 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-01-01 | 1 |
| Accountancy firm name | 2022-01-01 | CROWE LLP |
| Accountancy firm EIN | 2022-01-01 | 350921680 |
| 2021 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2021 401k financial data |
|---|
| Total income from all sources | 2021-12-31 | $2,458,570 |
| Expenses. Total of all expenses incurred | 2021-12-31 | $1,202,741 |
| Benefits paid (including direct rollovers) | 2021-12-31 | $1,157,724 |
| Total plan assets at end of year | 2021-12-31 | $8,005,417 |
| Total plan assets at beginning of year | 2021-12-31 | $6,749,588 |
| Value of fidelity bond covering the plan | 2021-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2021-12-31 | $948,503 |
| Expenses. Other expenses not covered elsewhere | 2021-12-31 | $45,017 |
| Contributions received from other sources (not participants or employers) | 2021-12-31 | $83,708 |
| Other income received | 2021-12-31 | $1,114,702 |
| Net income (gross income less expenses) | 2021-12-31 | $1,255,829 |
| Net plan assets at end of year (total assets less liabilities) | 2021-12-31 | $8,005,417 |
| Net plan assets at beginning of year (total assets less liabilities) | 2021-12-31 | $6,749,588 |
| Assets. Value of employer securities | 2021-12-31 | $578,103 |
| Total contributions received or receivable from employer(s) | 2021-12-31 | $311,657 |
| 2020 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2020 401k financial data |
|---|
| Total income from all sources | 2020-12-31 | $1,876,075 |
| Expenses. Total of all expenses incurred | 2020-12-31 | $1,960,642 |
| Benefits paid (including direct rollovers) | 2020-12-31 | $1,943,179 |
| Total plan assets at end of year | 2020-12-31 | $6,749,588 |
| Total plan assets at beginning of year | 2020-12-31 | $6,834,155 |
| Value of fidelity bond covering the plan | 2020-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2020-12-31 | $824,655 |
| Expenses. Other expenses not covered elsewhere | 2020-12-31 | $17,463 |
| Contributions received from other sources (not participants or employers) | 2020-12-31 | $178,099 |
| Other income received | 2020-12-31 | $624,510 |
| Net income (gross income less expenses) | 2020-12-31 | $-84,567 |
| Net plan assets at end of year (total assets less liabilities) | 2020-12-31 | $6,749,588 |
| Net plan assets at beginning of year (total assets less liabilities) | 2020-12-31 | $6,834,155 |
| Assets. Value of employer securities | 2020-12-31 | $440,234 |
| Total contributions received or receivable from employer(s) | 2020-12-31 | $248,811 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2020-12-31 | $0 |
| 2019 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2019 401k financial data |
|---|
| Total income from all sources | 2019-12-31 | $2,010,677 |
| Expenses. Total of all expenses incurred | 2019-12-31 | $1,383,136 |
| Benefits paid (including direct rollovers) | 2019-12-31 | $1,369,660 |
| Total plan assets at end of year | 2019-12-31 | $6,834,155 |
| Total plan assets at beginning of year | 2019-12-31 | $6,206,614 |
| Value of fidelity bond covering the plan | 2019-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2019-12-31 | $632,288 |
| Contributions received from other sources (not participants or employers) | 2019-12-31 | $105,221 |
| Other income received | 2019-12-31 | $1,110,563 |
| Net income (gross income less expenses) | 2019-12-31 | $627,541 |
| Net plan assets at end of year (total assets less liabilities) | 2019-12-31 | $6,834,155 |
| Net plan assets at beginning of year (total assets less liabilities) | 2019-12-31 | $6,206,614 |
| Assets. Value of employer securities | 2019-12-31 | $604,529 |
| Total contributions received or receivable from employer(s) | 2019-12-31 | $162,605 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2019-12-31 | $13,476 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2019-12-31 | $0 |
| 2018 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2018 401k financial data |
|---|
| Total plan liabilities at beginning of year | 2018-12-31 | $0 |
| Total income from all sources | 2018-12-31 | $958,855 |
| Expenses. Total of all expenses incurred | 2018-12-31 | $866,559 |
| Benefits paid (including direct rollovers) | 2018-12-31 | $853,247 |
| Total plan assets at end of year | 2018-12-31 | $6,206,614 |
| Total plan assets at beginning of year | 2018-12-31 | $6,114,318 |
| Value of fidelity bond covering the plan | 2018-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2018-12-31 | $624,828 |
| Contributions received from other sources (not participants or employers) | 2018-12-31 | $575,100 |
| Other income received | 2018-12-31 | $-476,488 |
| Net income (gross income less expenses) | 2018-12-31 | $92,296 |
| Net plan assets at end of year (total assets less liabilities) | 2018-12-31 | $6,206,614 |
| Net plan assets at beginning of year (total assets less liabilities) | 2018-12-31 | $6,114,318 |
| Assets. Value of employer securities | 2018-12-31 | $668,894 |
| Total contributions received or receivable from employer(s) | 2018-12-31 | $235,415 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2018-12-31 | $13,312 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2018-12-31 | $0 |
| 2017 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2017 401k financial data |
|---|
| Total plan liabilities at end of year | 2017-12-31 | $0 |
| Total plan liabilities at beginning of year | 2017-12-31 | $0 |
| Total income from all sources | 2017-12-31 | $1,676,321 |
| Expenses. Total of all expenses incurred | 2017-12-31 | $40,159 |
| Benefits paid (including direct rollovers) | 2017-12-31 | $29,442 |
| Total plan assets at end of year | 2017-12-31 | $6,114,318 |
| Total plan assets at beginning of year | 2017-12-31 | $4,478,156 |
| Value of fidelity bond covering the plan | 2017-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2017-12-31 | $614,526 |
| Contributions received from other sources (not participants or employers) | 2017-12-31 | $5,932 |
| Other income received | 2017-12-31 | $829,492 |
| Net income (gross income less expenses) | 2017-12-31 | $1,636,162 |
| Net plan assets at end of year (total assets less liabilities) | 2017-12-31 | $6,114,318 |
| Net plan assets at beginning of year (total assets less liabilities) | 2017-12-31 | $4,478,156 |
| Assets. Value of employer securities | 2017-12-31 | $819,247 |
| Total contributions received or receivable from employer(s) | 2017-12-31 | $226,371 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2017-12-31 | $10,717 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2017-12-31 | $0 |
| 2016 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2016 401k financial data |
|---|
| Total income from all sources | 2016-12-31 | $1,162,585 |
| Expenses. Total of all expenses incurred | 2016-12-31 | $88,232 |
| Benefits paid (including direct rollovers) | 2016-12-31 | $78,809 |
| Total plan assets at end of year | 2016-12-31 | $4,478,156 |
| Total plan assets at beginning of year | 2016-12-31 | $3,403,803 |
| Value of fidelity bond covering the plan | 2016-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2016-12-31 | $574,757 |
| Contributions received from other sources (not participants or employers) | 2016-12-31 | $62,062 |
| Other income received | 2016-12-31 | $339,469 |
| Net income (gross income less expenses) | 2016-12-31 | $1,074,353 |
| Net plan assets at end of year (total assets less liabilities) | 2016-12-31 | $4,478,156 |
| Net plan assets at beginning of year (total assets less liabilities) | 2016-12-31 | $3,403,803 |
| Assets. Value of employer securities | 2016-12-31 | $472,887 |
| Total contributions received or receivable from employer(s) | 2016-12-31 | $186,297 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2016-12-31 | $9,423 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2016-12-31 | $0 |
| 2015 : FREEDOM BANK OF VIRGINIA 401(K) PLAN 2015 401k financial data |
|---|
| Total income from all sources | 2015-12-31 | $904,029 |
| Expenses. Total of all expenses incurred | 2015-12-31 | $33,441 |
| Benefits paid (including direct rollovers) | 2015-12-31 | $24,994 |
| Total plan assets at end of year | 2015-12-31 | $3,403,803 |
| Total plan assets at beginning of year | 2015-12-31 | $2,533,215 |
| Value of fidelity bond covering the plan | 2015-12-31 | $500,000 |
| Total contributions received or receivable from participants | 2015-12-31 | $490,652 |
| Contributions received from other sources (not participants or employers) | 2015-12-31 | $332,778 |
| Other income received | 2015-12-31 | $-51,693 |
| Net income (gross income less expenses) | 2015-12-31 | $870,588 |
| Net plan assets at end of year (total assets less liabilities) | 2015-12-31 | $3,403,803 |
| Net plan assets at beginning of year (total assets less liabilities) | 2015-12-31 | $2,533,215 |
| Assets. Value of employer securities | 2015-12-31 | $169,219 |
| Total contributions received or receivable from employer(s) | 2015-12-31 | $132,292 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2015-12-31 | $8,447 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2015-12-31 | $0 |
