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

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

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

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.

401k Sponsoring company profile

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

Company Name:FIRST SOUTH BANCORP INC
Employer identification number (EIN):571052628
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-01-01JEFFREY HOOPER
0012015-01-01JEFFREY HOOPER
0012014-01-01JEFFREY HOOPER
0012013-01-01JEFFREY HOOPER
0012012-01-01JEFFREY HOOPER
0012011-01-01JEFFREY HOOPER
0012009-01-01JEFFREY HOOPER

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

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

Measure Date Value
2016: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2016 401k membership
Total participants, beginning-of-year2016-01-0168
Total number of active participants reported on line 7a of the Form 55002016-01-0152
Number of retired or separated participants receiving benefits2016-01-012
Number of other retired or separated participants entitled to future benefits2016-01-0112
Total of all active and inactive participants2016-01-0166
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-010
Total participants2016-01-0166
Number of participants with account balances2016-01-0157
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010
2015: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2015 401k membership
Total participants, beginning-of-year2015-01-0167
Total number of active participants reported on line 7a of the Form 55002015-01-0151
Number of other retired or separated participants entitled to future benefits2015-01-0116
Total of all active and inactive participants2015-01-0167
Total participants2015-01-0167
Number of participants with account balances2015-01-0162
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2014 401k membership
Total participants, beginning-of-year2014-01-0175
Total number of active participants reported on line 7a of the Form 55002014-01-0153
Number of other retired or separated participants entitled to future benefits2014-01-0114
Total of all active and inactive participants2014-01-0167
Total participants2014-01-0167
Number of participants with account balances2014-01-0161
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2013 401k membership
Total participants, beginning-of-year2013-01-0181
Total number of active participants reported on line 7a of the Form 55002013-01-0163
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-0112
Total of all active and inactive participants2013-01-0175
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-0175
Number of participants with account balances2013-01-0163
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2012 401k membership
Total participants, beginning-of-year2012-01-0181
Total number of active participants reported on line 7a of the Form 55002012-01-0167
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-0114
Total of all active and inactive participants2012-01-0181
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-0181
Number of participants with account balances2012-01-0166
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 401k membership
Total participants, beginning-of-year2011-01-0181
Total number of active participants reported on line 7a of the Form 55002011-01-0166
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-0115
Total of all active and inactive participants2011-01-0181
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0181
Number of participants with account balances2011-01-0167
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2009: FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 401k membership
Total participants, beginning-of-year2009-01-0183
Total number of active participants reported on line 7a of the Form 55002009-01-0168
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0112
Total of all active and inactive participants2009-01-0180
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0180
Number of participants with account balances2009-01-0166
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

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

Measure Date Value
2016 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2016 401k financial data
Total income from all sources2016-12-31$491,714
Expenses. Total of all expenses incurred2016-12-31$484,256
Benefits paid (including direct rollovers)2016-12-31$484,256
Total plan assets at end of year2016-12-31$2,889,171
Total plan assets at beginning of year2016-12-31$2,881,713
Value of fidelity bond covering the plan2016-12-31$500,000
Total contributions received or receivable from participants2016-12-31$178,096
Other income received2016-12-31$161,410
Net income (gross income less expenses)2016-12-31$7,458
Net plan assets at end of year (total assets less liabilities)2016-12-31$2,889,171
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$2,881,713
Assets. Value of participant loans2016-12-31$50,219
Assets. Value of employer securities2016-12-31$87,257
Total contributions received or receivable from employer(s)2016-12-31$152,208
2015 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2015 401k financial data
Total income from all sources2015-12-31$347,232
Expenses. Total of all expenses incurred2015-12-31$367,270
Benefits paid (including direct rollovers)2015-12-31$367,270
Total plan assets at end of year2015-12-31$2,881,713
Total plan assets at beginning of year2015-12-31$2,901,751
Value of fidelity bond covering the plan2015-12-31$500,000
Total contributions received or receivable from participants2015-12-31$185,520
Other income received2015-12-31$9,041
Net income (gross income less expenses)2015-12-31$-20,038
Net plan assets at end of year (total assets less liabilities)2015-12-31$2,881,713
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$2,901,751
Assets. Value of participant loans2015-12-31$51,038
Assets. Value of employer securities2015-12-31$101,755
Total contributions received or receivable from employer(s)2015-12-31$152,671
2014 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2014 401k financial data
Total income from all sources2014-12-31$567,410
Expenses. Total of all expenses incurred2014-12-31$695,202
Benefits paid (including direct rollovers)2014-12-31$660,442
Total plan assets at end of year2014-12-31$2,901,751
Total plan assets at beginning of year2014-12-31$3,029,543
Value of fidelity bond covering the plan2014-12-31$500,000
Total contributions received or receivable from participants2014-12-31$193,604
Contributions received from other sources (not participants or employers)2014-12-31$3,975
Other income received2014-12-31$210,653
Net income (gross income less expenses)2014-12-31$-127,792
Net plan assets at end of year (total assets less liabilities)2014-12-31$2,901,751
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$3,029,543
Assets. Value of participant loans2014-12-31$60,658
Assets. Value of employer securities2014-12-31$80,459
Total contributions received or receivable from employer(s)2014-12-31$159,178
Value of certain deemed distributions of participant loans2014-12-31$34,235
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$525
2013 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2013 401k financial data
Total income from all sources2013-12-31$872,659
Expenses. Total of all expenses incurred2013-12-31$272,408
Benefits paid (including direct rollovers)2013-12-31$272,408
Total plan assets at end of year2013-12-31$3,029,543
Total plan assets at beginning of year2013-12-31$2,429,292
Value of fidelity bond covering the plan2013-12-31$500,000
Total contributions received or receivable from participants2013-12-31$207,565
Other income received2013-12-31$492,935
Net income (gross income less expenses)2013-12-31$600,251
Net plan assets at end of year (total assets less liabilities)2013-12-31$3,029,543
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$2,429,292
Assets. Value of participant loans2013-12-31$60,926
Assets. Value of employer securities2013-12-31$28,875
Total contributions received or receivable from employer(s)2013-12-31$172,159
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$993
2012 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2012 401k financial data
Total income from all sources2012-12-31$573,524
Expenses. Total of all expenses incurred2012-12-31$340,751
Benefits paid (including direct rollovers)2012-12-31$340,751
Total plan assets at end of year2012-12-31$2,429,292
Total plan assets at beginning of year2012-12-31$2,196,519
Value of fidelity bond covering the plan2012-12-31$500,000
Total contributions received or receivable from participants2012-12-31$231,906
Contributions received from other sources (not participants or employers)2012-12-31$37,578
Other income received2012-12-31$118,544
Net income (gross income less expenses)2012-12-31$232,773
Net plan assets at end of year (total assets less liabilities)2012-12-31$2,429,292
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$2,196,519
Assets. Value of participant loans2012-12-31$62,493
Assets. Value of employer securities2012-12-31$1,917
Total contributions received or receivable from employer(s)2012-12-31$185,496
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 401k financial data
Total income from all sources2011-12-31$259,771
Expenses. Total of all expenses incurred2011-12-31$136,928
Benefits paid (including direct rollovers)2011-12-31$136,928
Total plan assets at end of year2011-12-31$2,196,519
Total plan assets at beginning of year2011-12-31$2,073,676
Value of fidelity bond covering the plan2011-12-31$500,000
Total contributions received or receivable from participants2011-12-31$237,702
Other income received2011-12-31$-170,062
Net income (gross income less expenses)2011-12-31$122,843
Net plan assets at end of year (total assets less liabilities)2011-12-31$2,196,519
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$2,073,676
Assets. Value of participant loans2011-12-31$54,254
Assets. Value of employer securities2011-12-31$108,528
Total contributions received or receivable from employer(s)2011-12-31$192,131
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : FIRST SOUTH BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 401k financial data
Total income from all sources2010-12-31$382,881
Expenses. Total of all expenses incurred2010-12-31$232,347
Benefits paid (including direct rollovers)2010-12-31$232,347
Total plan assets at end of year2010-12-31$2,073,676
Total plan assets at beginning of year2010-12-31$1,923,142
Value of fidelity bond covering the plan2010-12-31$500,000
Total contributions received or receivable from participants2010-12-31$237,274
Contributions received from other sources (not participants or employers)2010-12-31$278,803
Other income received2010-12-31$-331,887
Net income (gross income less expenses)2010-12-31$150,534
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,073,676
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$1,923,142
Assets. Value of participant loans2010-12-31$64,535
Assets. Value of employer securities2010-12-31$183,695
Total contributions received or receivable from employer(s)2010-12-31$198,691
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : FIRST SOUTH BANCORP INC 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 BANCORP INC EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

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

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