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FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT 401k Plan overview

Plan NameFIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT
Plan identification number 001

FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT 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 STATE BANK OF THE SOUTH, INC. has sponsored the creation of one or more 401k plans.

Company Name:FIRST STATE BANK OF THE SOUTH, INC.
Employer identification number (EIN):630903224
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about FIRST STATE BANK OF THE SOUTH, INC.

Jurisdiction of Incorporation: Alabama Secretary of State
Incorporation Date: 1985-05-02
Company Identification Number: 103-757
Legal Registered Office Address: ELM & MAIN STREET SULLIGENT,


United States of America (USA)
35586

More information about FIRST STATE BANK OF THE SOUTH, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JOHN F. BOYETT2024-06-03
0012022-01-01JOHN F. BOYETT2023-06-22
0012021-01-01JOHN F. BOYETT2022-06-27
0012020-01-01JOHN F. BOYETT2021-07-16
0012019-01-01JOHN F. BOYETT2020-06-11
0012018-01-01JOHN F. BOYETT2019-05-17
0012017-01-01JOHN F. BOYETT2018-06-07
0012016-01-01JOHN F. BOYETT2017-06-05
0012015-01-01JOHN F. BOYETT2016-07-05
0012014-01-01JOHN F. BOYETT2015-07-02
0012013-01-01JOHN F. BOYETT2014-07-10
0012012-01-01JOHN F. BOYETT2013-07-09
0012011-01-01JOHN F. BOYETT2012-07-18
0012010-01-01JOHN F. BOYETT2011-07-27 JOHN F. BOYETT2011-07-27

Financial Data on FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT

Measure Date Value
2025 : FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT 2025 401k financial data
Total expenses incurred by plan in this plan year2025-04-3015371
Net assets as of the end of the plan year2025-04-301603689
Total assets as of the beginning of the plan year2025-04-301285835
Value of plan covered by a fidelity bond2025-04-304000000
Participant contributions to plan in this plan year2025-04-3088950
Value of participant loans at end of plan year2025-04-302611
Other income to plan in this plan year2025-04-30210684
Plan net income in this plan year2025-04-30317854
Net assets as of the end of the plan year2025-04-301603689
Net assets as of the beginning of the plan year2025-04-301285835
Employer contributions to plan in this plan year2025-04-3033591
Fees paid to broker by Benefit Provider2025-04-301
Expensese paid to adminstrative service provicers from plan in this plan year2025-04-309371
2024 : FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-0313855
Net assets as of the end of the plan year2024-06-031285835
Total assets as of the beginning of the plan year2024-06-031010110
Value of plan covered by a fidelity bond2024-06-034000000
Participant contributions to plan in this plan year2024-06-0345109
Value of participant loans at end of plan year2024-06-0311415
Other income to plan in this plan year2024-06-03244471
Plan net income in this plan year2024-06-03275725
Net assets as of the end of the plan year2024-06-031285835
Net assets as of the beginning of the plan year2024-06-031010110
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-037636
2022 : FIRST STATE BANK OF THE SOUTH, INC. 401(K) PROFIT 2022 401k financial data
Total transfers to/from plan in this plan year2022-06-270
Total liabilities as of the end of the plan year2022-06-270
Total liabilities as of the beginning of the plan year2022-06-270
Total expenses incurred by plan in this plan year2022-06-27311558
Net assets as of the end of the plan year2022-06-271245874
Total assets as of the beginning of the plan year2022-06-271368548
Value of plan covered by a fidelity bond2022-06-274000000
Participant contributions to plan in this plan year2022-06-2729360
Value of participant loans at end of plan year2022-06-2756147
Other expenses paid from plan in this plan year2022-06-270
Other contributions to plan in this plan year2022-06-270
Other income to plan in this plan year2022-06-27159524
Plan net income in this plan year2022-06-27-122674
Net assets as of the end of the plan year2022-06-271245874
Net assets as of the beginning of the plan year2022-06-271368548
Employer contributions to plan in this plan year2022-06-270
Expensese paid to adminstrative service provicers from plan in this plan year2022-06-27260

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