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BANK OF OKOLONA 401(K) PLAN 401k Plan overview

Plan NameBANK OF OKOLONA 401(K) PLAN
Plan identification number 002

BANK OF OKOLONA 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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 OKOLONA has sponsored the creation of one or more 401k plans.

Company Name:BANK OF OKOLONA
Employer identification number (EIN):640117090
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF OKOLONA 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01
0022016-01-01JOHN A. HERROD JR.2017-06-14
0022015-01-01JOHN A. HERROD JR.2016-06-27
0022014-01-01JOHN A. HERROD JR.2015-06-18
0022013-01-01JOHN A. HERROD JR.2014-06-24
0022012-01-01JOHN A. HERROD JR.2013-07-19
0022011-01-01JOHN A. HERROD JR.2012-09-06
0022010-01-01JOHN A. HERROD JR.2011-09-12

Financial Data on BANK OF OKOLONA 401(K) PLAN

Measure Date Value
2025 : BANK OF OKOLONA 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-06-251250812
Net assets as of the end of the plan year2025-06-256512135
Total assets as of the beginning of the plan year2025-06-256705034
Value of plan covered by a fidelity bond2025-06-252000000
Participant contributions to plan in this plan year2025-06-25242066
Value of participant loans at end of plan year2025-06-2545871
Other income to plan in this plan year2025-06-25713845
Plan net income in this plan year2025-06-25-192899
Net assets as of the end of the plan year2025-06-256512135
Net assets as of the beginning of the plan year2025-06-256705034
Employer contributions to plan in this plan year2025-06-25102002
Fees paid to broker by Benefit Provider2025-06-2516183
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-251385
2024 : BANK OF OKOLONA 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-07-2972267
Net assets as of the end of the plan year2024-07-296705034
Total assets as of the beginning of the plan year2024-07-295681871
Value of plan covered by a fidelity bond2024-07-292000000
Participant contributions to plan in this plan year2024-07-29248864
Value of participant loans at end of plan year2024-07-2910996
Other income to plan in this plan year2024-07-29750507
Plan net income in this plan year2024-07-291023163
Net assets as of the end of the plan year2024-07-296705034
Net assets as of the beginning of the plan year2024-07-295681871
Employer contributions to plan in this plan year2024-07-2996059
Fees paid to broker by Benefit Provider2024-07-2915332
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-29803
2022 : BANK OF OKOLONA 401(K) PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-09-19122988
Net assets as of the end of the plan year2022-09-196433249
Total assets as of the beginning of the plan year2022-09-195464919
Value of plan covered by a fidelity bond2022-09-192000000
Participant contributions to plan in this plan year2022-09-19214192
Value of participant loans at end of plan year2022-09-1915182
Other contributions to plan in this plan year2022-09-19190662
Other income to plan in this plan year2022-09-19608194
Plan net income in this plan year2022-09-19968330
Net assets as of the end of the plan year2022-09-196433249
Net assets as of the beginning of the plan year2022-09-195464919
Employer contributions to plan in this plan year2022-09-1978270
Fees paid to broker by Benefit Provider2022-09-1916927
Expensese paid to adminstrative service provicers from plan in this plan year2022-09-19613

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