FIRST BANCORP has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan ASHEVILLE SAVINGS BANK RETIREMENT SAVINGS PLAN
401k plan membership statisitcs for ASHEVILLE SAVINGS BANK RETIREMENT SAVINGS PLAN
| Measure | Date | Value |
|---|
| 2018 : ASHEVILLE SAVINGS BANK RETIREMENT SAVINGS PLAN 2018 401k financial data |
|---|
| Unrealized appreciation/depreciation of other (non real estate) assets | 2018-11-30 | $-8,970 |
| Total unrealized appreciation/depreciation of assets | 2018-11-30 | $-8,970 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2018-11-30 | $0 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2018-11-30 | $0 |
| Total income from all sources (including contributions) | 2018-11-30 | $519,011 |
| Total loss/gain on sale of assets | 2018-11-30 | $148,637 |
| Total of all expenses incurred | 2018-11-30 | $8,035,141 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2018-11-30 | $7,826,884 |
| Expenses. Certain deemed distributions of participant loans | 2018-11-30 | $180,376 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2018-11-30 | $224,725 |
| Value of total assets at end of year | 2018-11-30 | $0 |
| Value of total assets at beginning of year | 2018-11-30 | $7,516,130 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2018-11-30 | $27,881 |
| Total interest from all sources | 2018-11-30 | $6,170 |
| Total dividends received (eg from common stock, registered investment company shares) | 2018-11-30 | $11,590 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2018-11-30 | Yes |
| Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan | 2018-11-30 | $0 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2018-11-30 | $6,078 |
| Was this plan covered by a fidelity bond | 2018-11-30 | Yes |
| Value of fidelity bond cover | 2018-11-30 | $20,000,000 |
| If this is an individual account plan, was there a blackout period | 2018-11-30 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2018-11-30 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2018-11-30 | No |
| Contributions received from participants | 2018-11-30 | $166,317 |
| Participant contributions at end of year | 2018-11-30 | $0 |
| Participant contributions at beginning of year | 2018-11-30 | $202,451 |
| Participant contributions at end of year | 2018-11-30 | $0 |
| Participant contributions at beginning of year | 2018-11-30 | $20,341 |
| Administrative expenses (other) incurred | 2018-11-30 | $9,310 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2018-11-30 | No |
| Value of net income/loss | 2018-11-30 | $-7,516,130 |
| Value of net assets at end of year (total assets less liabilities) | 2018-11-30 | $0 |
| Value of net assets at beginning of year (total assets less liabilities) | 2018-11-30 | $7,516,130 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2018-11-30 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2018-11-30 | No |
| Were any leases to which the plan was party in default or uncollectible | 2018-11-30 | No |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2018-11-30 | $0 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2018-11-30 | $5,442,047 |
| Interest on participant loans | 2018-11-30 | $3,056 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2018-11-30 | $0 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2018-11-30 | $854,330 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2018-11-30 | $854,330 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2018-11-30 | $3,114 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2018-11-30 | $136,859 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2018-11-30 | No |
| Was there a failure to transmit to the plan any participant contributions | 2018-11-30 | No |
| Has the plan failed to provide any benefit when due under the plan | 2018-11-30 | No |
| Assets. Invements in employer securities at end of year | 2018-11-30 | $0 |
| Assets. Invements in employer securities at beginning of year | 2018-11-30 | $989,563 |
| Contributions received in cash from employer | 2018-11-30 | $58,408 |
| Employer contributions (assets) at end of year | 2018-11-30 | $0 |
| Employer contributions (assets) at beginning of year | 2018-11-30 | $7,398 |
| Income. Dividends from common stock | 2018-11-30 | $5,512 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2018-11-30 | $7,826,884 |
| Contract administrator fees | 2018-11-30 | $18,571 |
| Did the plan have assets held for investment | 2018-11-30 | No |
| 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 | 2018-11-30 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2018-11-30 | Yes |
| Aggregate proceeds on sale of assets | 2018-11-30 | $1,975,323 |
| Aggregate carrying amount (costs) on sale of assets | 2018-11-30 | $1,826,686 |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2018-11-30 | No |
| Opinion of an independent qualified public accountant for this plan | 2018-11-30 | Unqualified |
| Accountancy firm name | 2018-11-30 | SMITH LEONARD PLLC |
| Accountancy firm EIN | 2018-11-30 | 205907591 |
