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FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 401k Plan overview

Plan NameFIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST
Plan identification number 001

FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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

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

Company Name:FIRST SOUTH BANK
Employer identification number (EIN):560266599
NAIC Classification:522120
NAIC Description:Savings Institutions

Additional information about FIRST SOUTH BANK

Jurisdiction of Incorporation: Georgia Department of States Corporations Division
Incorporation Date:
Company Identification Number: 731760

More information about FIRST SOUTH BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012018-01-01BRUCE ELDER2018-10-03
0012017-01-01BRUCE ELDER
0012016-01-01SCOTT C. MCLEAN
0012015-01-01SCOTT C. MCLEAN
0012014-01-01SCOTT C. MCLEAN
0012013-01-01SCOTT C. MCLEAN
0012012-01-01KRISTIE HAWKINS
0012011-01-01KRISTIE HAWKINS
0012010-01-01KRISTIE W HAWKINS
0012009-01-01KRISTIE W HAWKINS KRISTIE W HAWKINS2010-08-04

Plan Statistics for FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

401k plan membership statisitcs for FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Measure Date Value
2017: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 401k membership
Total participants, beginning-of-year2017-01-01311
Total number of active participants reported on line 7a of the Form 55002017-01-010
Number of retired or separated participants receiving benefits2017-01-010
Number of other retired or separated participants entitled to future benefits2017-01-010
Total of all active and inactive participants2017-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-010
Total participants2017-01-010
Number of participants with account balances2017-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2016 401k membership
Total participants, beginning-of-year2016-01-01327
Total number of active participants reported on line 7a of the Form 55002016-01-01259
Number of retired or separated participants receiving benefits2016-01-010
Number of other retired or separated participants entitled to future benefits2016-01-0144
Total of all active and inactive participants2016-01-01303
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-01303
Number of participants with account balances2016-01-01248
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-014
2015: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2015 401k membership
Total participants, beginning-of-year2015-01-01331
Total number of active participants reported on line 7a of the Form 55002015-01-01282
Number of retired or separated participants receiving benefits2015-01-010
Number of other retired or separated participants entitled to future benefits2015-01-0139
Total of all active and inactive participants2015-01-01321
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-01321
Number of participants with account balances2015-01-01267
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-0111
2014: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2014 401k membership
Total participants, beginning-of-year2014-01-01284
Total number of active participants reported on line 7a of the Form 55002014-01-01278
Number of retired or separated participants receiving benefits2014-01-0143
Total of all active and inactive participants2014-01-01321
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-01321
Number of participants with account balances2014-01-01255
2013: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2013 401k membership
Total participants, beginning-of-year2013-01-01303
Total number of active participants reported on line 7a of the Form 55002013-01-01224
Number of other retired or separated participants entitled to future benefits2013-01-0165
Total of all active and inactive participants2013-01-01289
Total participants2013-01-01289
Number of participants with account balances2013-01-01286
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-019
2012: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2012 401k membership
Total participants, beginning-of-year2012-01-01306
Total number of active participants reported on line 7a of the Form 55002012-01-01232
Number of retired or separated participants receiving benefits2012-01-012
Number of other retired or separated participants entitled to future benefits2012-01-0151
Total of all active and inactive participants2012-01-01285
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-01285
Number of participants with account balances2012-01-01198
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-0132
2011: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 401k membership
Total participants, beginning-of-year2011-01-01333
Total number of active participants reported on line 7a of the Form 55002011-01-01242
Number of retired or separated participants receiving benefits2011-01-013
Number of other retired or separated participants entitled to future benefits2011-01-0153
Total of all active and inactive participants2011-01-01298
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-01298
Number of participants with account balances2011-01-01203
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-0149
2010: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 401k membership
Total participants, beginning-of-year2010-01-01333
Total number of active participants reported on line 7a of the Form 55002010-01-01274
Number of retired or separated participants receiving benefits2010-01-011
Number of other retired or separated participants entitled to future benefits2010-01-0151
Total of all active and inactive participants2010-01-01326
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01326
Number of participants with account balances2010-01-01222
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-0140
2009: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 401k membership
Total participants, beginning-of-year2009-01-01331
Total number of active participants reported on line 7a of the Form 55002009-01-01270
Number of retired or separated participants receiving benefits2009-01-014
Number of other retired or separated participants entitled to future benefits2009-01-0149
Total of all active and inactive participants2009-01-01323
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01323
Number of participants with account balances2009-01-01219
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-0147

Financial Data on FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Measure Date Value
2017 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 401k financial data
Total income from all sources (including contributions)2017-12-31$2,685,637
Total of all expenses incurred2017-12-31$13,344,880
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$13,180,355
Expenses. Certain deemed distributions of participant loans2017-12-31$117,150
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$1,275,165
Value of total assets at end of year2017-12-31$4,216
Value of total assets at beginning of year2017-12-31$10,663,459
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$47,375
Total interest from all sources2017-12-31$14,294
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$207,280
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2017-12-31$0
Total dividends received from registered investment company shares (eg mutual funds)2017-12-31$191,697
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$8,000,000
If this is an individual account plan, was there a blackout period2017-12-31No
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Contributions received from participants2017-12-31$735,350
Participant contributions at end of year2017-12-31$0
Participant contributions at beginning of year2017-12-31$440,593
Income. Received or receivable in cash from other sources (including rollovers)2017-12-31$44,800
Administrative expenses (other) incurred2017-12-31$120
Total non interest bearing cash at beginning of year2017-12-31$119,724
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$-10,659,243
Value of net assets at end of year (total assets less liabilities)2017-12-31$4,216
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$10,663,459
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Investment advisory and management fees2017-12-31$20,991
Value of interest in registered invesment companies (eg mutual funds) at end of year2017-12-31$24
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2017-12-31$8,071,861
Interest on participant loans2017-12-31$13,019
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2017-12-31$1,294
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2017-12-31$304,877
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2017-12-31$304,877
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2017-12-31$1,275
Net investment gain/loss from registered investment companies (e.g. mutual funds)2017-12-31$1,188,898
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Assets. Invements in employer securities at end of year2017-12-31$2,898
Assets. Invements in employer securities at beginning of year2017-12-31$1,726,404
Contributions received in cash from employer2017-12-31$495,015
Income. Dividends from common stock2017-12-31$15,583
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$13,180,355
Contract administrator fees2017-12-31$26,264
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32017-12-31No
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31No
Opinion of an independent qualified public accountant for this plan2017-12-31Unqualified
Accountancy firm name2017-12-31CHERRY BEKAERT, LLP
Accountancy firm EIN2017-12-31560587444
2016 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2016 401k financial data
Total income from all sources (including contributions)2016-12-31$2,529,128
Total of all expenses incurred2016-12-31$1,037,060
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$1,024,609
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$1,515,669
Value of total assets at end of year2016-12-31$10,663,459
Value of total assets at beginning of year2016-12-31$9,171,391
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$12,451
Total interest from all sources2016-12-31$14,987
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$275,249
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2016-12-31$275,249
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$8,000,000
If this is an individual account plan, was there a blackout period2016-12-31No
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Contributions received from participants2016-12-31$815,065
Participant contributions at end of year2016-12-31$440,593
Participant contributions at beginning of year2016-12-31$406,373
Participant contributions at beginning of year2016-12-31$65,920
Income. Received or receivable in cash from other sources (including rollovers)2016-12-31$293,762
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$10,746
Administrative expenses (other) incurred2016-12-31$211
Total non interest bearing cash at end of year2016-12-31$119,724
Total non interest bearing cash at beginning of year2016-12-31$3,615
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$1,492,068
Value of net assets at end of year (total assets less liabilities)2016-12-31$10,663,459
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$9,171,391
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Investment advisory and management fees2016-12-31$5,400
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-12-31$8,071,861
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$7,262,864
Interest on participant loans2016-12-31$14,100
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2016-12-31$304,877
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2016-12-31$256,660
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2016-12-31$256,660
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$887
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$723,223
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Assets. Invements in employer securities at end of year2016-12-31$1,726,404
Assets. Invements in employer securities at beginning of year2016-12-31$1,134,405
Contributions received in cash from employer2016-12-31$406,842
Employer contributions (assets) at beginning of year2016-12-31$30,808
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$1,024,609
Contract administrator fees2016-12-31$6,840
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32016-12-31No
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31No
Opinion of an independent qualified public accountant for this plan2016-12-31Unqualified
Accountancy firm name2016-12-31CHERRY BEKAERT, LLP
Accountancy firm EIN2016-12-31560574444
2015 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2015 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$48,844
Total income from all sources (including contributions)2015-12-31$1,623,163
Total of all expenses incurred2015-12-31$989,917
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$984,901
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$1,642,673
Value of total assets at end of year2015-12-31$9,171,391
Value of total assets at beginning of year2015-12-31$8,586,989
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$5,016
Total interest from all sources2015-12-31$13,218
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$313,720
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2015-12-31$313,720
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$8,000,000
If this is an individual account plan, was there a blackout period2015-12-31No
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Contributions received from participants2015-12-31$794,370
Participant contributions at end of year2015-12-31$406,373
Participant contributions at beginning of year2015-12-31$426,246
Participant contributions at end of year2015-12-31$65,920
Income. Received or receivable in cash from other sources (including rollovers)2015-12-31$476,559
Value of other receiveables (less allowance for doubtful accounts) at end of year2015-12-31$10,746
Administrative expenses (other) incurred2015-12-31$101
Total non interest bearing cash at end of year2015-12-31$3,615
Total non interest bearing cash at beginning of year2015-12-31$133,559
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$633,246
Value of net assets at end of year (total assets less liabilities)2015-12-31$9,171,391
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$8,538,145
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$7,262,864
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$6,724,095
Interest on participant loans2015-12-31$13,204
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-12-31$256,660
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-12-31$171,089
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-12-31$171,089
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$14
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-346,448
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31No
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Assets. Invements in employer securities at end of year2015-12-31$1,134,405
Assets. Invements in employer securities at beginning of year2015-12-31$1,132,000
Contributions received in cash from employer2015-12-31$371,744
Employer contributions (assets) at end of year2015-12-31$30,808
Employer contributions (assets) at beginning of year2015-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$984,901
Contract administrator fees2015-12-31$4,915
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32015-12-31No
Liabilities. Value of benefit claims payable at beginning of year2015-12-31$48,844
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31No
Opinion of an independent qualified public accountant for this plan2015-12-31Unqualified
Accountancy firm name2015-12-31CHERRY BEKAERT LLP
Accountancy firm EIN2015-12-31560574444
2014 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2014 401k financial data
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$48,844
Total income from all sources (including contributions)2014-12-31$1,374,207
Total of all expenses incurred2014-12-31$955,863
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$948,581
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$934,784
Value of total assets at end of year2014-12-31$8,586,989
Value of total assets at beginning of year2014-12-31$8,119,801
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$7,282
Total interest from all sources2014-12-31$13,408
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$298,673
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2014-12-31$298,673
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$500,000
If this is an individual account plan, was there a blackout period2014-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Contributions received from participants2014-12-31$620,195
Participant contributions at end of year2014-12-31$426,246
Participant contributions at beginning of year2014-12-31$301,013
Income. Received or receivable in cash from other sources (including rollovers)2014-12-31$19,453
Administrative expenses (other) incurred2014-12-31$232
Total non interest bearing cash at end of year2014-12-31$133,559
Total non interest bearing cash at beginning of year2014-12-31$101,349
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$418,344
Value of net assets at end of year (total assets less liabilities)2014-12-31$8,538,145
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$8,119,801
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2014-12-31$6,724,095
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2014-12-31$6,264,317
Interest on participant loans2014-12-31$13,408
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2014-12-31$171,089
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2014-12-31$268,945
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2014-12-31$268,945
Net investment gain/loss from registered investment companies (e.g. mutual funds)2014-12-31$127,342
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Assets. Invements in employer securities at end of year2014-12-31$1,132,000
Assets. Invements in employer securities at beginning of year2014-12-31$1,109,176
Contributions received in cash from employer2014-12-31$295,136
Employer contributions (assets) at end of year2014-12-31$0
Employer contributions (assets) at beginning of year2014-12-31$75,001
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$948,581
Contract administrator fees2014-12-31$7,050
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32014-12-31Yes
Liabilities. Value of benefit claims payable at end of year2014-12-31$48,844
Did the plan have assets held for investment2014-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31TURLINGTON AND COMPANY, LLC
Accountancy firm EIN2014-12-31560817345
2013 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2013 401k financial data
Total income from all sources (including contributions)2013-12-31$2,519,312
Total of all expenses incurred2013-12-31$1,794,798
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$1,781,645
Value of total corrective distributions2013-12-31$9,293
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$1,147,896
Value of total assets at end of year2013-12-31$8,119,801
Value of total assets at beginning of year2013-12-31$7,395,287
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$3,860
Total interest from all sources2013-12-31$12,899
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$234,032
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2013-12-31$234,032
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$6,000,000
If this is an individual account plan, was there a blackout period2013-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Contributions received from participants2013-12-31$550,704
Participant contributions at end of year2013-12-31$301,013
Participant contributions at beginning of year2013-12-31$341,164
Income. Received or receivable in cash from other sources (including rollovers)2013-12-31$250,684
Administrative expenses (other) incurred2013-12-31$115
Total non interest bearing cash at end of year2013-12-31$101,349
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$724,514
Value of net assets at end of year (total assets less liabilities)2013-12-31$8,119,801
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$7,395,287
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2013-12-31$6,264,317
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2013-12-31$5,869,858
Interest on participant loans2013-12-31$12,226
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2013-12-31$268,945
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2013-12-31$438,121
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2013-12-31$438,121
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2013-12-31$673
Net investment gain/loss from registered investment companies (e.g. mutual funds)2013-12-31$1,124,485
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Assets. Invements in employer securities at end of year2013-12-31$1,109,176
Assets. Invements in employer securities at beginning of year2013-12-31$746,144
Contributions received in cash from employer2013-12-31$346,508
Employer contributions (assets) at end of year2013-12-31$75,001
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$1,781,645
Contract administrator fees2013-12-31$3,745
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32013-12-31Yes
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31No
Opinion of an independent qualified public accountant for this plan2013-12-31Unqualified
Accountancy firm name2013-12-31TURLINGTON AND COMPANY, LLC
Accountancy firm EIN2013-12-31560817345
2012 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2012 401k financial data
Unrealized appreciation/depreciation of real estate assets2012-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2012-12-31$199,782
Total unrealized appreciation/depreciation of assets2012-12-31$199,782
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Expenses. Interest paid2012-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022012-12-31$0
Total income from all sources (including contributions)2012-12-31$1,788,427
Total loss/gain on sale of assets2012-12-31$16,920
Total of all expenses incurred2012-12-31$1,488,469
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$1,445,708
Expenses. Certain deemed distributions of participant loans2012-12-31$32,314
Value of total corrective distributions2012-12-31$10,402
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$842,937
Value of total assets at end of year2012-12-31$7,395,287
Value of total assets at beginning of year2012-12-31$7,095,329
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$45
Total income from rents2012-12-31$0
Total interest from all sources2012-12-31$14,509
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$128,921
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2012-12-31$128,921
Assets. Real estate other than employer real property at end of year2012-12-31$0
Assets. Real estate other than employer real property at beginning of year2012-12-31$0
Administrative expenses professional fees incurred2012-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at end of year2012-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2012-12-31$0
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$6,000,000
If this is an individual account plan, was there a blackout period2012-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Contributions received from participants2012-12-31$516,075
Participant contributions at end of year2012-12-31$341,164
Participant contributions at beginning of year2012-12-31$366,216
Participant contributions at end of year2012-12-31$0
Participant contributions at beginning of year2012-12-31$0
Assets. Other investments not covered elsewhere at end of year2012-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2012-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2012-12-31$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2012-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2012-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2012-12-31$0
Assets. Loans (other than to participants) at end of year2012-12-31$0
Assets. Loans (other than to participants) at beginning of year2012-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2012-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2012-12-31$0
Other income not declared elsewhere2012-12-31$0
Administrative expenses (other) incurred2012-12-31$0
Total non interest bearing cash at end of year2012-12-31$0
Total non interest bearing cash at beginning of year2012-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Income. Non cash contributions2012-12-31$0
Value of net income/loss2012-12-31$299,958
Value of net assets at end of year (total assets less liabilities)2012-12-31$7,395,287
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$7,095,329
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Assets. partnership/joint venture interests at end of year2012-12-31$0
Assets. partnership/joint venture interests at beginning of year2012-12-31$0
Investment advisory and management fees2012-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$5,869,858
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$4,668,228
Interest on participant loans2012-12-31$13,492
Income. Interest from loans (other than to participants)2012-12-31$0
Interest earned on other investments2012-12-31$0
Income. Interest from US Government securities2012-12-31$0
Income. Interest from corporate debt instruments2012-12-31$0
Value of interest in master investment trust accounts at end of year2012-12-31$0
Value of interest in master investment trust accounts at beginning of year2012-12-31$0
Value of interest in common/collective trusts at end of year2012-12-31$0
Value of interest in common/collective trusts at beginning of year2012-12-31$1,141,102
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2012-12-31$438,121
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$483,262
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$483,262
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2012-12-31$1,017
Assets. Value of investments in 103.12 investment entities at end of year2012-12-31$0
Assets. Value of investments in 103.12 investment entities at beginning of year2012-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2012-12-31$0
Asset value of US Government securities at end of year2012-12-31$0
Asset value of US Government securities at beginning of year2012-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2012-12-31$549,561
Net investment gain/loss from pooled separate accounts2012-12-31$0
Net investment gain or loss from common/collective trusts2012-12-31$35,797
Net gain/loss from 103.12 investment entities2012-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Assets. Invements in employer securities at end of year2012-12-31$746,144
Assets. Invements in employer securities at beginning of year2012-12-31$436,521
Assets. Value of employer real property at end of year2012-12-31$0
Assets. Value of employer real property at beginning of year2012-12-31$0
Contributions received in cash from employer2012-12-31$326,862
Employer contributions (assets) at end of year2012-12-31$0
Employer contributions (assets) at beginning of year2012-12-31$0
Income. Dividends from preferred stock2012-12-31$0
Income. Dividends from common stock2012-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$1,445,708
Asset. Corporate debt instrument preferred debt at end of year2012-12-31$0
Asset. Corporate debt instrument preferred debt at beginning of year2012-12-31$0
Asset. Corporate debt instrument debt (other) at end of year2012-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2012-12-31$0
Contract administrator fees2012-12-31$45
Assets. Corporate common stocks other than exployer securities at end of year2012-12-31$0
Assets. Corporate common stocks other than exployer securities at beginning of year2012-12-31$0
Liabilities. Value of benefit claims payable at end of year2012-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2012-12-31$0
Assets. Value of buildings and other operty used in plan operation at end of year2012-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2012-12-31$0
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Aggregate proceeds on sale of assets2012-12-31$77,265
Aggregate carrying amount (costs) on sale of assets2012-12-31$60,345
Liabilities. Value of acquisition indebtedness at end of year2012-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2012-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31TURLINGTON AND COMPANY, LLC
Accountancy firm EIN2012-12-31560817345
2011 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 401k financial data
Unrealized appreciation/depreciation of real estate assets2011-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$-345,749
Total unrealized appreciation/depreciation of assets2011-12-31$-345,749
Total transfer of assets to this plan2011-12-31$0
Total transfer of assets from this plan2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Expenses. Interest paid2011-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022011-12-31$0
Total income from all sources (including contributions)2011-12-31$480,326
Total loss/gain on sale of assets2011-12-31$-12,768
Total of all expenses incurred2011-12-31$581,707
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$566,813
Expenses. Certain deemed distributions of participant loans2011-12-31$4,486
Value of total corrective distributions2011-12-31$10,369
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$858,098
Value of total assets at end of year2011-12-31$7,095,329
Value of total assets at beginning of year2011-12-31$7,196,710
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$39
Total income from rents2011-12-31$0
Total interest from all sources2011-12-31$16,731
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$119,227
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$119,227
Assets. Real estate other than employer real property at end of year2011-12-31$0
Assets. Real estate other than employer real property at beginning of year2011-12-31$0
Administrative expenses professional fees incurred2011-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at end of year2011-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2011-12-31$0
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$6,000,000
If this is an individual account plan, was there a blackout period2011-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Contributions received from participants2011-12-31$510,147
Participant contributions at end of year2011-12-31$366,216
Participant contributions at beginning of year2011-12-31$323,740
Participant contributions at end of year2011-12-31$0
Participant contributions at beginning of year2011-12-31$0
Assets. Other investments not covered elsewhere at end of year2011-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2011-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2011-12-31$26,708
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2011-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2011-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$0
Assets. Loans (other than to participants) at end of year2011-12-31$0
Assets. Loans (other than to participants) at beginning of year2011-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2011-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2011-12-31$0
Other income not declared elsewhere2011-12-31$0
Administrative expenses (other) incurred2011-12-31$0
Total non interest bearing cash at end of year2011-12-31$0
Total non interest bearing cash at beginning of year2011-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Income. Non cash contributions2011-12-31$0
Value of net income/loss2011-12-31$-101,381
Value of net assets at end of year (total assets less liabilities)2011-12-31$7,095,329
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$7,196,710
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Assets. partnership/joint venture interests at end of year2011-12-31$0
Assets. partnership/joint venture interests at beginning of year2011-12-31$0
Investment advisory and management fees2011-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$4,668,228
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$5,280,586
Interest on participant loans2011-12-31$15,832
Income. Interest from loans (other than to participants)2011-12-31$0
Interest earned on other investments2011-12-31$0
Income. Interest from US Government securities2011-12-31$0
Income. Interest from corporate debt instruments2011-12-31$0
Value of interest in master investment trust accounts at end of year2011-12-31$0
Value of interest in master investment trust accounts at beginning of year2011-12-31$0
Value of interest in common/collective trusts at end of year2011-12-31$1,141,102
Value of interest in common/collective trusts at beginning of year2011-12-31$979,825
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$483,262
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$6
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$6
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$899
Assets. Value of investments in 103.12 investment entities at end of year2011-12-31$0
Assets. Value of investments in 103.12 investment entities at beginning of year2011-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2011-12-31$0
Asset value of US Government securities at end of year2011-12-31$0
Asset value of US Government securities at beginning of year2011-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-12-31$-174,682
Net investment gain/loss from pooled separate accounts2011-12-31$0
Net investment gain or loss from common/collective trusts2011-12-31$19,469
Net gain/loss from 103.12 investment entities2011-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Assets. Invements in employer securities at end of year2011-12-31$436,521
Assets. Invements in employer securities at beginning of year2011-12-31$612,553
Assets. Value of employer real property at end of year2011-12-31$0
Assets. Value of employer real property at beginning of year2011-12-31$0
Contributions received in cash from employer2011-12-31$321,243
Employer contributions (assets) at end of year2011-12-31$0
Employer contributions (assets) at beginning of year2011-12-31$0
Income. Dividends from preferred stock2011-12-31$0
Income. Dividends from common stock2011-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$566,813
Asset. Corporate debt instrument preferred debt at end of year2011-12-31$0
Asset. Corporate debt instrument preferred debt at beginning of year2011-12-31$0
Asset. Corporate debt instrument debt (other) at end of year2011-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2011-12-31$0
Contract administrator fees2011-12-31$39
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32011-12-31No
Assets. Corporate common stocks other than exployer securities at end of year2011-12-31$0
Assets. Corporate common stocks other than exployer securities at beginning of year2011-12-31$0
Liabilities. Value of benefit claims payable at end of year2011-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2011-12-31$0
Assets. Value of buildings and other operty used in plan operation at end of year2011-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2011-12-31$0
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Aggregate proceeds on sale of assets2011-12-31$27,224
Aggregate carrying amount (costs) on sale of assets2011-12-31$39,992
Liabilities. Value of acquisition indebtedness at end of year2011-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2011-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31TURLINGTON AND COMPANY, LLC
Accountancy firm EIN2011-12-31560817345
2010 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 401k financial data
Unrealized appreciation/depreciation of real estate assets2010-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2010-12-31$-357,047
Total unrealized appreciation/depreciation of assets2010-12-31$-357,047
Total transfer of assets to this plan2010-12-31$0
Total transfer of assets from this plan2010-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Expenses. Interest paid2010-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022010-12-31$0
Total income from all sources (including contributions)2010-12-31$1,402,442
Total loss/gain on sale of assets2010-12-31$3,712
Total of all expenses incurred2010-12-31$599,023
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$538,020
Expenses. Certain deemed distributions of participant loans2010-12-31$30,106
Value of total corrective distributions2010-12-31$30,878
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$928,274
Value of total assets at end of year2010-12-31$7,196,710
Value of total assets at beginning of year2010-12-31$6,393,291
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$19
Total income from rents2010-12-31$0
Total interest from all sources2010-12-31$16,879
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$146,831
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2010-12-31$86,646
Assets. Real estate other than employer real property at end of year2010-12-31$0
Assets. Real estate other than employer real property at beginning of year2010-12-31$0
Administrative expenses professional fees incurred2010-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at end of year2010-12-31$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2010-12-31$0
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$6,000,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$497,343
Participant contributions at end of year2010-12-31$323,740
Participant contributions at beginning of year2010-12-31$320,464
Participant contributions at end of year2010-12-31$0
Participant contributions at beginning of year2010-12-31$0
Assets. Other investments not covered elsewhere at end of year2010-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2010-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2010-12-31$111,266
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2010-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2010-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2010-12-31$0
Assets. Loans (other than to participants) at end of year2010-12-31$0
Assets. Loans (other than to participants) at beginning of year2010-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2010-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2010-12-31$0
Other income not declared elsewhere2010-12-31$0
Administrative expenses (other) incurred2010-12-31$0
Total non interest bearing cash at end of year2010-12-31$0
Total non interest bearing cash at beginning of year2010-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Income. Non cash contributions2010-12-31$0
Value of net income/loss2010-12-31$803,419
Value of net assets at end of year (total assets less liabilities)2010-12-31$7,196,710
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$6,393,291
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Assets. partnership/joint venture interests at end of year2010-12-31$0
Assets. partnership/joint venture interests at beginning of year2010-12-31$0
Investment advisory and management fees2010-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$5,280,586
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-12-31$4,219,413
Interest on participant loans2010-12-31$16,878
Income. Interest from loans (other than to participants)2010-12-31$0
Interest earned on other investments2010-12-31$0
Income. Interest from US Government securities2010-12-31$0
Income. Interest from corporate debt instruments2010-12-31$0
Value of interest in master investment trust accounts at end of year2010-12-31$0
Value of interest in master investment trust accounts at beginning of year2010-12-31$0
Value of interest in common/collective trusts at end of year2010-12-31$979,825
Value of interest in common/collective trusts at beginning of year2010-12-31$947,590
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$6
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$7,661
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$7,661
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$1
Assets. Value of investments in 103.12 investment entities at end of year2010-12-31$0
Assets. Value of investments in 103.12 investment entities at beginning of year2010-12-31$0
Expenses. Payments to insurance carriers foe the provision of benefits2010-12-31$0
Asset value of US Government securities at end of year2010-12-31$0
Asset value of US Government securities at beginning of year2010-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-12-31$642,262
Net investment gain/loss from pooled separate accounts2010-12-31$0
Net investment gain or loss from common/collective trusts2010-12-31$21,531
Net gain/loss from 103.12 investment entities2010-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Assets. Invements in employer securities at end of year2010-12-31$612,553
Assets. Invements in employer securities at beginning of year2010-12-31$898,163
Assets. Value of employer real property at end of year2010-12-31$0
Assets. Value of employer real property at beginning of year2010-12-31$0
Contributions received in cash from employer2010-12-31$319,665
Employer contributions (assets) at end of year2010-12-31$0
Employer contributions (assets) at beginning of year2010-12-31$0
Income. Dividends from preferred stock2010-12-31$0
Income. Dividends from common stock2010-12-31$60,185
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$538,020
Asset. Corporate debt instrument preferred debt at end of year2010-12-31$0
Asset. Corporate debt instrument preferred debt at beginning of year2010-12-31$0
Asset. Corporate debt instrument debt (other) at end of year2010-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2010-12-31$0
Contract administrator fees2010-12-31$19
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32010-12-31No
Assets. Corporate common stocks other than exployer securities at end of year2010-12-31$0
Assets. Corporate common stocks other than exployer securities at beginning of year2010-12-31$0
Liabilities. Value of benefit claims payable at end of year2010-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2010-12-31$0
Assets. Value of buildings and other operty used in plan operation at end of year2010-12-31$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2010-12-31$0
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Aggregate proceeds on sale of assets2010-12-31$167,817
Aggregate carrying amount (costs) on sale of assets2010-12-31$164,105
Liabilities. Value of acquisition indebtedness at end of year2010-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2010-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31No
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31TURLINGTON AND COMPANY, LLC
Accountancy firm EIN2010-12-31560817345
2009 : FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

2017: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 form 5500 responses
2017-01-01Type of plan entitySingle employer plan
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes
2015: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: FIRST SOUTH BANK EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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