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BANK OF MORTON 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameBANK OF MORTON 401(K) PROFIT SHARING PLAN
Plan identification number 002

BANK OF MORTON 401(K) PROFIT SHARING PLAN 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

BANK OF MORTON has sponsored the creation of one or more 401k plans.

Company Name:BANK OF MORTON
Employer identification number (EIN):640117050
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about BANK OF MORTON

Jurisdiction of Incorporation: Mississippi Secretary of State
Incorporation Date:
Company Identification Number: 401437

More information about BANK OF MORTON

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF MORTON 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022024-01-01GORDY HERRING2024-12-20
0022023-01-01GORDY HERRING2024-03-15
0022022-01-01EDWARD G HERRING2023-08-18
0022021-01-01EDWARD HERRING2022-07-11 EDWARD HERRING2022-07-11
0022020-01-01TITO ECHIBURU2021-04-19 TITO ECHIBURU2021-04-19
0022019-01-01TITO ECHIBURU2020-03-31 TITO ECHIBURU2020-03-31
0022018-01-01TITO ECHIBURU2019-04-10 TITO ECHIBURU2019-04-10
0022017-01-01TITO ECHIBURU2018-04-04 TITO ECHIBURU2018-04-04
0022016-01-01TITO ECHIBURU2017-04-05 TITO ECHIBURU2017-04-05
0022015-01-01TITO ECHIBURU2016-07-29 TITO ECHIBURU2016-07-29
0022014-01-01TITO ECHIBURU2015-04-27 TITO ECHIBURU2015-04-27
0022013-01-01TITO ECHIBURU2014-07-30 TITO ECHIBURU2014-07-30
0022012-01-01TITO ECHIBURU2013-02-21 TITO ECHIBURU2013-02-21
0022011-01-01TITO ECHIBURU2012-04-05 TITO ECHIBURU2012-04-05
0022010-01-01TITO ECHIBURU2011-06-30 TITO ECHIBURU2011-06-30

Plan Statistics for BANK OF MORTON 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for BANK OF MORTON 401(K) PROFIT SHARING PLAN

Measure Date Value
2024: BANK OF MORTON 401(K) PROFIT SHARING PLAN 2024 401k membership
Total number of particpants at beginning of year2024-12-2018
Total number of particpants at end of year2024-12-200
Number of Participants With Account Balances2024-12-200
Total number of particpants at beginning of year2024-03-1521
Total number of particpants at end of year2024-03-1518
Number of Participants With Account Balances2024-03-1518

Financial Data on BANK OF MORTON 401(K) PROFIT SHARING PLAN

Measure Date Value
2024 : BANK OF MORTON 401(K) PROFIT SHARING PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-12-202458370
Net assets as of the end of the plan year2024-12-200
Total assets as of the beginning of the plan year2024-12-202363660
Value of plan covered by a fidelity bond2024-12-20500000
Participant contributions to plan in this plan year2024-12-200
Value of participant loans at end of plan year2024-12-200
Other income to plan in this plan year2024-12-2094710
Plan net income in this plan year2024-12-20-2363660
Net assets as of the end of the plan year2024-12-200
Net assets as of the beginning of the plan year2024-12-202363660
Employer contributions to plan in this plan year2024-12-200
Expensese paid to adminstrative service provicers from plan in this plan year2024-12-202730
Total expenses incurred by plan in this plan year2024-03-15826589
Net assets as of the end of the plan year2024-03-152363660
Total assets as of the beginning of the plan year2024-03-152825347
Value of plan covered by a fidelity bond2024-03-15500000
Participant contributions to plan in this plan year2024-03-1584612
Value of participant loans at end of plan year2024-03-1517151
Other income to plan in this plan year2024-03-15232797
Plan net income in this plan year2024-03-15-461687
Net assets as of the end of the plan year2024-03-152363660
Net assets as of the beginning of the plan year2024-03-152825347
Employer contributions to plan in this plan year2024-03-1547493
Expensese paid to adminstrative service provicers from plan in this plan year2024-03-15825

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