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F & M FINANCIAL CORPORATION 401(K) PLAN 401k Plan overview

Plan NameF & M FINANCIAL CORPORATION 401(K) PLAN
Plan identification number 002

F & M FINANCIAL CORPORATION 401(K) PLAN 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.
  • 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

F & M FINANCIAL CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:F & M FINANCIAL CORPORATION
Employer identification number (EIN):561439958
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about F & M FINANCIAL CORPORATION

Jurisdiction of Incorporation: Nevada Department of State
Incorporation Date: 2001-08-20
Company Identification Number: 20011404366
Legal Registered Office Address: 1869 GRAY COURT STE 101

GARDNERVILLE
United States of America (USA)
89410

More information about F & M FINANCIAL CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan F & M FINANCIAL CORPORATION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01

Plan Statistics for F & M FINANCIAL CORPORATION 401(K) PLAN

401k plan membership statisitcs for F & M FINANCIAL CORPORATION 401(K) PLAN

Measure Date Value
2022: F & M FINANCIAL CORPORATION 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01147
Total number of active participants reported on line 7a of the Form 55002022-01-01128
Number of retired or separated participants receiving benefits2022-01-011
Number of other retired or separated participants entitled to future benefits2022-01-0122
Total of all active and inactive participants2022-01-01151
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01151
Number of participants with account balances2022-01-01141
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: F & M FINANCIAL CORPORATION 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01140
Total number of active participants reported on line 7a of the Form 55002021-01-01126
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0117
Total of all active and inactive participants2021-01-01143
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01143
Number of participants with account balances2021-01-01129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-012
2020: F & M FINANCIAL CORPORATION 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01149
Total number of active participants reported on line 7a of the Form 55002020-01-01121
Number of retired or separated participants receiving benefits2020-01-011
Number of other retired or separated participants entitled to future benefits2020-01-0117
Total of all active and inactive participants2020-01-01139
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01139
Number of participants with account balances2020-01-01124
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: F & M FINANCIAL CORPORATION 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-01118
Total number of active participants reported on line 7a of the Form 55002019-01-01128
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-0118
Total of all active and inactive participants2019-01-01146
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-01146
Number of participants with account balances2019-01-01121
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on F & M FINANCIAL CORPORATION 401(K) PLAN

Measure Date Value
2022 : F & M FINANCIAL CORPORATION 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
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$0
Total income from all sources (including contributions)2022-12-31$-1,871,123
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$1,160,651
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,134,985
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,120,524
Value of total assets at end of year2022-12-31$15,574,896
Value of total assets at beginning of year2022-12-31$18,606,670
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$25,666
Total interest from all sources2022-12-31$1,530
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$636,614
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$636,614
Administrative expenses professional fees incurred2022-12-31$6,736
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$3,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$704,588
Participant contributions at end of year2022-12-31$22,859
Participant contributions at beginning of year2022-12-31$24,527
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$97,603
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-3,031,774
Value of net assets at end of year (total assets less liabilities)2022-12-31$15,574,896
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$18,606,670
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$12,921,609
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$15,672,915
Interest on participant loans2022-12-31$1,530
Value of interest in common/collective trusts at end of year2022-12-31$2,630,428
Value of interest in common/collective trusts at beginning of year2022-12-31$2,909,228
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-3,676,145
Net investment gain or loss from common/collective trusts2022-12-31$46,354
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$318,333
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$1,134,985
Contract administrator fees2022-12-31$18,930
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31ELLIOT DAVIS, PLLC
Accountancy firm EIN2022-12-31570381582
2021 : F & M FINANCIAL CORPORATION 401(K) PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$3,558,033
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$3,163,227
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$3,139,889
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$944,743
Value of total assets at end of year2021-12-31$18,606,670
Value of total assets at beginning of year2021-12-31$18,211,864
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$23,338
Total interest from all sources2021-12-31$2,171
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$843,348
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$843,348
Administrative expenses professional fees incurred2021-12-31$7,123
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$3,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$639,326
Participant contributions at end of year2021-12-31$24,527
Participant contributions at beginning of year2021-12-31$45,959
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$4,225
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$394,806
Value of net assets at end of year (total assets less liabilities)2021-12-31$18,606,670
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$18,211,864
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$15,672,915
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$15,898,532
Interest on participant loans2021-12-31$2,171
Value of interest in common/collective trusts at end of year2021-12-31$2,909,228
Value of interest in common/collective trusts at beginning of year2021-12-31$2,267,373
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$1,721,904
Net investment gain or loss from common/collective trusts2021-12-31$45,867
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$301,192
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$3,139,889
Contract administrator fees2021-12-31$16,215
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31ELLIOT DAVIS, PLLC
Accountancy firm EIN2021-12-31570381582
2020 : F & M FINANCIAL CORPORATION 401(K) PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$3,269,313
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$1,283,928
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$1,263,817
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$1,012,310
Value of total assets at end of year2020-12-31$18,211,864
Value of total assets at beginning of year2020-12-31$16,226,479
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$20,111
Total interest from all sources2020-12-31$3,649
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$394,279
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$394,279
Administrative expenses professional fees incurred2020-12-31$6,143
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$3,000,000
If this is an individual account plan, was there a blackout period2020-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$619,812
Participant contributions at end of year2020-12-31$45,959
Participant contributions at beginning of year2020-12-31$92,884
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$117,047
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$1,985,385
Value of net assets at end of year (total assets less liabilities)2020-12-31$18,211,864
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$16,226,479
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$15,898,532
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$14,411,885
Interest on participant loans2020-12-31$3,649
Value of interest in common/collective trusts at end of year2020-12-31$2,267,373
Value of interest in common/collective trusts at beginning of year2020-12-31$1,721,710
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$1,820,967
Net investment gain or loss from common/collective trusts2020-12-31$38,108
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$275,451
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$1,263,817
Contract administrator fees2020-12-31$13,968
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31ELLIOT DAVIS, PLLC
Accountancy firm EIN2020-12-31570381582
2019 : F & M FINANCIAL CORPORATION 401(K) PLAN 2019 401k financial data
Total unrealized appreciation/depreciation of assets2019-12-31$0
Total transfer of assets to this plan2019-12-31$12,671,849
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2019-12-31$0
Total income from all sources (including contributions)2019-12-31$4,540,299
Total loss/gain on sale of assets2019-12-31$0
Total of all expenses incurred2019-12-31$985,669
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2019-12-31$952,431
Value of total corrective distributions2019-12-31$880
Total contributions o plan (from employers,participants, others, non cash contrinutions)2019-12-31$1,681,302
Value of total assets at end of year2019-12-31$16,226,479
Value of total assets at beginning of year2019-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2019-12-31$32,358
Total interest from all sources2019-12-31$5,773
Total dividends received (eg from common stock, registered investment company shares)2019-12-31$528,758
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2019-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2019-12-31$528,758
Administrative expenses professional fees incurred2019-12-31$5,353
Was this plan covered by a fidelity bond2019-12-31Yes
Value of fidelity bond cover2019-12-31$3,000,000
If this is an individual account plan, was there a blackout period2019-12-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Were there any nonexempt tranactions with any party-in-interest2019-12-31No
Contributions received from participants2019-12-31$543,384
Participant contributions at end of year2019-12-31$92,884
Participant contributions at beginning of year2019-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2019-12-31$880,471
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Value of net income/loss2019-12-31$3,554,630
Value of net assets at end of year (total assets less liabilities)2019-12-31$16,226,479
Value of net assets at beginning of year (total assets less liabilities)2019-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2019-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2019-12-31No
Were any leases to which the plan was party in default or uncollectible2019-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2019-12-31$14,411,885
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2019-12-31$0
Interest on participant loans2019-12-31$5,773
Value of interest in common/collective trusts at end of year2019-12-31$1,721,710
Value of interest in common/collective trusts at beginning of year2019-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2019-12-31$2,292,430
Net investment gain or loss from common/collective trusts2019-12-31$32,036
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2019-12-31No
Was there a failure to transmit to the plan any participant contributions2019-12-31No
Has the plan failed to provide any benefit when due under the plan2019-12-31No
Contributions received in cash from employer2019-12-31$257,447
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2019-12-31$952,431
Contract administrator fees2019-12-31$27,005
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32019-12-31Yes
Did the plan have assets held for investment2019-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2019-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2019-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2019-12-31Yes
Opinion of an independent qualified public accountant for this plan2019-12-31Disclaimer
Accountancy firm name2019-12-31ELLIOT DAVIS, PLLC
Accountancy firm EIN2019-12-31570381582

Form 5500 Responses for F & M FINANCIAL CORPORATION 401(K) PLAN

2022: F & M FINANCIAL CORPORATION 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: F & M FINANCIAL CORPORATION 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: F & M FINANCIAL CORPORATION 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: F & M FINANCIAL CORPORATION 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01First time form 5500 has been submittedYes
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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