401k Plan data: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN plan

COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 401k Plan overview

Plan Name	COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN
Plan identification number	002

COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 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

COMMUNITY BANK OF LEXINGTON TN has sponsored the creation of one or more 401k plans.

Company Name: COMMUNITY BANK OF LEXINGTON TN

Employer identification number (EIN): 621722861

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2022-01-01
002 2021-01-01
002 2020-01-01
002 2019-01-01
002 2018-01-01 JOHN A. STARR 2019-02-15
002 2017-01-01 JOHN A. STARR 2018-02-17
002 2016-01-01 JOHN A. STARR 2017-02-16

Plan Statistics for COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN

401k plan membership statisitcs for COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN

Measure Date Value
2022: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 48
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 53
Number of retired or separated participants receiving benefits 2022-01-01 1
Number of other retired or separated participants entitled to future benefits 2022-01-01 4
Total of all active and inactive participants 2022-01-01 58
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 58
Number of participants with account balances 2022-01-01 40
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 0
2021: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 42
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 43
Number of retired or separated participants receiving benefits 2021-01-01 1
Number of other retired or separated participants entitled to future benefits 2021-01-01 4
Total of all active and inactive participants 2021-01-01 48
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 48
Number of participants with account balances 2021-01-01 36
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 2
2020: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 40
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 39
Number of retired or separated participants receiving benefits 2020-01-01 1
Number of other retired or separated participants entitled to future benefits 2020-01-01 2
Total of all active and inactive participants 2020-01-01 42
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 42
Number of participants with account balances 2020-01-01 34
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0
2019: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year 2019-01-01 34
Total number of active participants reported on line 7a of the Form 5500 2019-01-01 39
Number of retired or separated participants receiving benefits 2019-01-01 1
Number of other retired or separated participants entitled to future benefits 2019-01-01 0
Total of all active and inactive participants 2019-01-01 40
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2019-01-01 0
Total participants 2019-01-01 40
Number of participants with account balances 2019-01-01 30
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2019-01-01 0

Measure	Date	Value
2022: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	48
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	53
Number of retired or separated participants receiving benefits	2022-01-01	1
Number of other retired or separated participants entitled to future benefits	2022-01-01	4
Total of all active and inactive participants	2022-01-01	58
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	58
Number of participants with account balances	2022-01-01	40
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	0
2021: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	42
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	43
Number of retired or separated participants receiving benefits	2021-01-01	1
Number of other retired or separated participants entitled to future benefits	2021-01-01	4
Total of all active and inactive participants	2021-01-01	48
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	48
Number of participants with account balances	2021-01-01	36
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	2
2020: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	40
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	39
Number of retired or separated participants receiving benefits	2020-01-01	1
Number of other retired or separated participants entitled to future benefits	2020-01-01	2
Total of all active and inactive participants	2020-01-01	42
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	42
Number of participants with account balances	2020-01-01	34
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0
2019: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year	2019-01-01	34
Total number of active participants reported on line 7a of the Form 5500	2019-01-01	39
Number of retired or separated participants receiving benefits	2019-01-01	1
Number of other retired or separated participants entitled to future benefits	2019-01-01	0
Total of all active and inactive participants	2019-01-01	40
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2019-01-01	0
Total participants	2019-01-01	40
Number of participants with account balances	2019-01-01	30
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2019-01-01	0

Financial Data on COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN

Measure	Date	Value
2022 : COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2022 401k financial data
Total plan liabilities at end of year	2022-12-31	$3,492
Total plan liabilities at beginning of year	2022-12-31	$532
Total income from all sources	2022-12-31	$-138,306
Expenses. Total of all expenses incurred	2022-12-31	$29,454
Benefits paid (including direct rollovers)	2022-12-31	$25,988
Total plan assets at end of year	2022-12-31	$1,940,777
Total plan assets at beginning of year	2022-12-31	$2,105,577
Value of fidelity bond covering the plan	2022-12-31	$1,500,000
Total contributions received or receivable from participants	2022-12-31	$158,797
Expenses. Other expenses not covered elsewhere	2022-12-31	$3,466
Contributions received from other sources (not participants or employers)	2022-12-31	$19,836
Other income received	2022-12-31	$-371,420
Net income (gross income less expenses)	2022-12-31	$-167,760
Net plan assets at end of year (total assets less liabilities)	2022-12-31	$1,937,285
Net plan assets at beginning of year (total assets less liabilities)	2022-12-31	$2,105,045
Total contributions received or receivable from employer(s)	2022-12-31	$54,481
2021 : COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2021 401k financial data
Total plan liabilities at end of year	2021-12-31	$532
Total plan liabilities at beginning of year	2021-12-31	$3,201
Total income from all sources	2021-12-31	$398,673
Expenses. Total of all expenses incurred	2021-12-31	$4,037
Benefits paid (including direct rollovers)	2021-12-31	$4,037
Total plan assets at end of year	2021-12-31	$2,105,577
Total plan assets at beginning of year	2021-12-31	$1,713,610
Value of fidelity bond covering the plan	2021-12-31	$1,500,000
Total contributions received or receivable from participants	2021-12-31	$132,385
Other income received	2021-12-31	$222,660
Net income (gross income less expenses)	2021-12-31	$394,636
Net plan assets at end of year (total assets less liabilities)	2021-12-31	$2,105,045
Net plan assets at beginning of year (total assets less liabilities)	2021-12-31	$1,710,409
Assets. Value of participant loans	2021-12-31	$1,091
Total contributions received or receivable from employer(s)	2021-12-31	$43,628
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2021-12-31	$0
2020 : COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2020 401k financial data
Total plan liabilities at end of year	2020-12-31	$3,201
Total plan liabilities at beginning of year	2020-12-31	$5,497
Total income from all sources	2020-12-31	$386,155
Expenses. Total of all expenses incurred	2020-12-31	$0
Total plan assets at end of year	2020-12-31	$1,713,610
Total plan assets at beginning of year	2020-12-31	$1,329,751
Value of fidelity bond covering the plan	2020-12-31	$3,000,000
Total contributions received or receivable from participants	2020-12-31	$125,215
Contributions received from other sources (not participants or employers)	2020-12-31	$14,217
Other income received	2020-12-31	$202,733
Net income (gross income less expenses)	2020-12-31	$386,155
Net plan assets at end of year (total assets less liabilities)	2020-12-31	$1,710,409
Net plan assets at beginning of year (total assets less liabilities)	2020-12-31	$1,324,254
Assets. Value of participant loans	2020-12-31	$4,191
Total contributions received or receivable from employer(s)	2020-12-31	$43,990
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2020-12-31	$0
2019 : COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2019 401k financial data
Total plan liabilities at end of year	2019-12-31	$5,497
Total plan liabilities at beginning of year	2019-12-31	$0
Total income from all sources	2019-12-31	$445,984
Expenses. Total of all expenses incurred	2019-12-31	$16,777
Benefits paid (including direct rollovers)	2019-12-31	$14,500
Total plan assets at end of year	2019-12-31	$1,329,751
Total plan assets at beginning of year	2019-12-31	$895,047
Value of fidelity bond covering the plan	2019-12-31	$1,500,000
Total contributions received or receivable from participants	2019-12-31	$97,397
Contributions received from other sources (not participants or employers)	2019-12-31	$110,386
Other income received	2019-12-31	$202,270
Net income (gross income less expenses)	2019-12-31	$429,207
Net plan assets at end of year (total assets less liabilities)	2019-12-31	$1,324,254
Net plan assets at beginning of year (total assets less liabilities)	2019-12-31	$895,047
Assets. Value of participant loans	2019-12-31	$7,281
Total contributions received or receivable from employer(s)	2019-12-31	$35,931
Value of certain deemed distributions of participant loans	2019-12-31	$2,277
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2019-12-31	$0

Form 5500 Responses for COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN

2022: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Insurance	Yes
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2021: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Submission has been amended	No
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Insurance	Yes
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement – Insurance	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 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	No
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	No
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: COMMUNITY BANK OF LEXINGTON TN 401(K) PLAN 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

Insurance Providers Used on plan

AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )

Policy contract number

344711

Policy instance

Insurance contract or identification number	344711
Number of Individuals Covered	58
Insurance policy start date	2022-01-01
Insurance policy end date	2022-12-31
Total amount of commissions paid to insurance broker	USD $5,757
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $5,757
Insurance broker organization code?	3

AMERITAS LIFE INSURANCE CORP. (National Association of Insurance Commissioners NAIC id number: 61301 )

Policy contract number

344711

Policy instance

Insurance contract or identification number	344711
Number of Individuals Covered	48
Insurance policy start date	2021-01-01
Insurance policy end date	2021-12-31
Total amount of commissions paid to insurance broker	USD $5,617
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $5,617
Insurance broker organization code?	3

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Company Name:	COMMUNITY BANK OF LEXINGTON TN
Employer identification number (EIN):	621722861
NAIC Classification:	522110
NAIC Description:	Commercial Banking