401k Plan data: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST plan

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

Plan Name	FIRST 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 Type

Defined 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): 571086258

NAIC Classification: 522110
NAIC Description: Commercial Banking

Additional information about FIRST SOUTH BANCORP, INC.

Jurisdiction of Incorporation: Virginia Secretary of State

Incorporation Date: 1999-01-07

Company Identification Number: 0514165

Legal Registered Office Address: 4701 COX ROAD, SUITE 285

GLEN ALLEN
United States of America (USA)
23060

More information about FIRST SOUTH BANCORP, INC.

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 Signed Name of Company Sponsor Date Sponsor Signed
001 2020-01-01
001 2019-01-01
001 2018-01-01 JEFFREY HOOPER
001 2017-01-01 JEFFREY 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
2020: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 401k membership
Total participants, beginning-of-year 2020-01-01 56
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 0
Number of retired or separated participants receiving benefits 2020-01-01 0
Number of other retired or separated participants entitled to future benefits 2020-01-01 0
Total of all active and inactive participants 2020-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 0
Number of participants with account balances 2020-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0
2019: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2019 401k membership
Total participants, beginning-of-year 2019-01-01 67
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 42
Number of retired or separated participants receiving benefits 2019-01-01 0
Number of other retired or separated participants entitled to future benefits 2019-01-01 14
Total of all active and inactive participants 2019-01-01 56
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 56
Number of participants with account balances 2019-01-01 40
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0
2018: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2018 401k membership
Total participants, beginning-of-year 2018-01-01 63
Total number of active participants reported on line 7a of the Form 5500 2018-01-01 52
Number of retired or separated participants receiving benefits 2018-01-01 0
Number of other retired or separated participants entitled to future benefits 2018-01-01 15
Total of all active and inactive participants 2018-01-01 67
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2018-01-01 0
Total participants 2018-01-01 67
Number of participants with account balances 2018-01-01 50
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2018-01-01 0
2017: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 401k membership
Total participants, beginning-of-year 2017-01-01 66
Total number of active participants reported on line 7a of the Form 5500 2017-01-01 49
Number of retired or separated participants receiving benefits 2017-01-01 0
Number of other retired or separated participants entitled to future benefits 2017-01-01 14
Total of all active and inactive participants 2017-01-01 63
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2017-01-01 0
Total participants 2017-01-01 63
Number of participants with account balances 2017-01-01 54
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2017-01-01 0

Measure	Date	Value
2020: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 401k membership
Total participants, beginning-of-year	2020-01-01	56
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	0
Number of retired or separated participants receiving benefits	2020-01-01	0
Number of other retired or separated participants entitled to future benefits	2020-01-01	0
Total of all active and inactive participants	2020-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	0
Number of participants with account balances	2020-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0
2019: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2019 401k membership
Total participants, beginning-of-year	2019-01-01	67
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	42
Number of retired or separated participants receiving benefits	2019-01-01	0
Number of other retired or separated participants entitled to future benefits	2019-01-01	14
Total of all active and inactive participants	2019-01-01	56
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	56
Number of participants with account balances	2019-01-01	40
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0
2018: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2018 401k membership
Total participants, beginning-of-year	2018-01-01	63
Total number of active participants reported on line 7a of the Form 5500	2018-01-01	52
Number of retired or separated participants receiving benefits	2018-01-01	0
Number of other retired or separated participants entitled to future benefits	2018-01-01	15
Total of all active and inactive participants	2018-01-01	67
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2018-01-01	0
Total participants	2018-01-01	67
Number of participants with account balances	2018-01-01	50
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2018-01-01	0
2017: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 401k membership
Total participants, beginning-of-year	2017-01-01	66
Total number of active participants reported on line 7a of the Form 5500	2017-01-01	49
Number of retired or separated participants receiving benefits	2017-01-01	0
Number of other retired or separated participants entitled to future benefits	2017-01-01	14
Total of all active and inactive participants	2017-01-01	63
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2017-01-01	0
Total participants	2017-01-01	63
Number of participants with account balances	2017-01-01	54
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2017-01-01	0

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

Measure	Date	Value
2020 : FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 401k financial data
Total income from all sources	2020-07-07	$-127,695
Expenses. Total of all expenses incurred	2020-07-07	$3,271,724
Benefits paid (including direct rollovers)	2020-07-07	$3,256,863
Total plan assets at end of year	2020-07-07	$0
Total plan assets at beginning of year	2020-07-07	$3,399,419
Value of fidelity bond covering the plan	2020-07-07	$2,000,000
Other income received	2020-07-07	$-127,695
Net income (gross income less expenses)	2020-07-07	$-3,399,419
Net plan assets at end of year (total assets less liabilities)	2020-07-07	$0
Net plan assets at beginning of year (total assets less liabilities)	2020-07-07	$3,399,419
Assets. Value of participant loans	2020-07-07	$0
Value of certain deemed distributions of participant loans	2020-07-07	$-88
Expenses. Administrative service providers (salaries,fees and commissions)	2020-07-07	$14,949
2019 : FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2019 401k financial data
Total income from all sources	2019-12-31	$826,353
Expenses. Total of all expenses incurred	2019-12-31	$677,266
Benefits paid (including direct rollovers)	2019-12-31	$643,734
Total plan assets at end of year	2019-12-31	$3,399,419
Total plan assets at beginning of year	2019-12-31	$3,250,332
Value of fidelity bond covering the plan	2019-12-31	$2,000,000
Total contributions received or receivable from participants	2019-12-31	$104,277
Other income received	2019-12-31	$664,804
Net income (gross income less expenses)	2019-12-31	$149,087
Net plan assets at end of year (total assets less liabilities)	2019-12-31	$3,399,419
Net plan assets at beginning of year (total assets less liabilities)	2019-12-31	$3,250,332
Assets. Value of participant loans	2019-12-31	$15,444
Assets. Value of employer securities	2019-12-31	$0
Total contributions received or receivable from employer(s)	2019-12-31	$57,272
Value of certain deemed distributions of participant loans	2019-12-31	$2,312
Expenses. Administrative service providers (salaries,fees and commissions)	2019-12-31	$31,220
2018 : FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2018 401k financial data
Total income from all sources	2018-12-31	$123,704
Expenses. Total of all expenses incurred	2018-12-31	$295,168
Benefits paid (including direct rollovers)	2018-12-31	$265,331
Total plan assets at end of year	2018-12-31	$3,250,332
Total plan assets at beginning of year	2018-12-31	$3,421,796
Value of fidelity bond covering the plan	2018-12-31	$2,000,000
Total contributions received or receivable from participants	2018-12-31	$162,388
Other income received	2018-12-31	$-170,764
Net income (gross income less expenses)	2018-12-31	$-171,464
Net plan assets at end of year (total assets less liabilities)	2018-12-31	$3,250,332
Net plan assets at beginning of year (total assets less liabilities)	2018-12-31	$3,421,796
Assets. Value of participant loans	2018-12-31	$34,875
Assets. Value of employer securities	2018-12-31	$78,718
Total contributions received or receivable from employer(s)	2018-12-31	$132,080
Expenses. Administrative service providers (salaries,fees and commissions)	2018-12-31	$29,837
2017 : FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 401k financial data
Total income from all sources	2017-12-31	$742,797
Expenses. Total of all expenses incurred	2017-12-31	$210,172
Benefits paid (including direct rollovers)	2017-12-31	$185,495
Total plan assets at end of year	2017-12-31	$3,421,796
Total plan assets at beginning of year	2017-12-31	$2,889,171
Value of fidelity bond covering the plan	2017-12-31	$2,000,000
Total contributions received or receivable from participants	2017-12-31	$164,578
Other income received	2017-12-31	$436,170
Net income (gross income less expenses)	2017-12-31	$532,625
Net plan assets at end of year (total assets less liabilities)	2017-12-31	$3,421,796
Net plan assets at beginning of year (total assets less liabilities)	2017-12-31	$2,889,171
Assets. Value of participant loans	2017-12-31	$55,085
Assets. Value of employer securities	2017-12-31	$45,653
Total contributions received or receivable from employer(s)	2017-12-31	$142,049
Expenses. Administrative service providers (salaries,fees and commissions)	2017-12-31	$24,677

Form 5500 Responses for FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

2020: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Submission has been amended	No
2020-01-01	This submission is the final filing	Yes
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	Yes
2020-01-01	Plan is a collectively bargained plan	No
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes
2019: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2019 form 5500 responses
2019-01-01	Type of plan entity	Single employer plan
2019-01-01	Submission has been amended	No
2019-01-01	This submission is the final filing	No
2019-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2019-01-01	Plan is a collectively bargained plan	No
2019-01-01	Plan funding arrangement – Trust	Yes
2019-01-01	Plan benefit arrangement - Trust	Yes
2018: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2018 form 5500 responses
2018-01-01	Type of plan entity	Single employer plan
2018-01-01	Submission has been amended	No
2018-01-01	This submission is the final filing	No
2018-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2018-01-01	Plan is a collectively bargained plan	No
2018-01-01	Plan funding arrangement – Trust	Yes
2018-01-01	Plan benefit arrangement - Trust	Yes
2017: FIRST SOUTH BANCORP, INC. EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2017 form 5500 responses
2017-01-01	Type of plan entity	Single employer plan
2017-01-01	Submission has been amended	No
2017-01-01	This submission is the final filing	No
2017-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2017-01-01	Plan is a collectively bargained plan	No
2017-01-01	Plan funding arrangement – Trust	Yes
2017-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	FIRST SOUTH BANCORP, INC.
Employer identification number (EIN):	571086258
NAIC Classification:	522110
NAIC Description:	Commercial Banking

Jurisdiction of Incorporation:	Virginia Secretary of State
Incorporation Date:	1999-01-07
Company Identification Number:	0514165
Legal Registered Office Address:	4701 COX ROAD, SUITE 285 GLEN ALLEN United States of America (USA) 23060