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BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 401k Plan overview

Plan NameBANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN
Plan identification number 002

BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Stock bonus
  • Leveraged ESOP - An ESOP that acquires employer securities with borrowed money or other debt-financing techniques. A completed Schedule E must be attached to a Form 5500 filed for an ESOP.
  • The employer maintaining this ESOP is an S Corporation
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).
  • Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

401k Sponsoring company profile

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

Company Name:BANK OF WHITMAN
Employer identification number (EIN):910988115
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about BANK OF WHITMAN

Jurisdiction of Incorporation: Washington Secretary of State Corporations Division
Incorporation Date: 1976-12-27
Company Identification Number: 600265298

More information about BANK OF WHITMAN

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022013-01-01FDIC AS RECEIVER BY D FOSTER
0022009-01-01WILLIAM KNOX

Plan Statistics for BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN

401k plan membership statisitcs for BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2013: BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-01180
Total number of active participants reported on line 7a of the Form 55002013-01-010
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-01180
Total of all active and inactive participants2013-01-01180
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-01180
Number of participants with account balances2013-01-01180
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2009: BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01178
Total number of active participants reported on line 7a of the Form 55002009-01-01156
Number of retired or separated participants receiving benefits2009-01-012
Number of other retired or separated participants entitled to future benefits2009-01-0127
Total of all active and inactive participants2009-01-01185
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01185
Number of participants with account balances2009-01-01181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-0111

Financial Data on BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN

Measure Date Value
2014 : BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-11-30$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-11-30$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-11-30$0
Total income from all sources (including contributions)2014-11-30$0
Total loss/gain on sale of assets2014-11-30$0
Total of all expenses incurred2014-11-30$200,484
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-11-30$200,484
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-11-30$0
Value of total assets at end of year2014-11-30$0
Value of total assets at beginning of year2014-11-30$200,484
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-11-30$0
Total interest from all sources2014-11-30$0
Total dividends received (eg from common stock, registered investment company shares)2014-11-30$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-11-30Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2014-11-30$0
Was this plan covered by a fidelity bond2014-11-30No
If this is an individual account plan, was there a blackout period2014-11-30No
Were there any nonexempt tranactions with any party-in-interest2014-11-30No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-11-30No
Value of net income/loss2014-11-30$-200,484
Value of net assets at end of year (total assets less liabilities)2014-11-30$0
Value of net assets at beginning of year (total assets less liabilities)2014-11-30$200,484
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-11-30No
Were any loans by the plan or fixed income obligations due to the plan in default2014-11-30No
Were any leases to which the plan was party in default or uncollectible2014-11-30No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2014-11-30$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2014-11-30$200,484
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2014-11-30$200,484
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-11-30No
Was there a failure to transmit to the plan any participant contributions2014-11-30No
Has the plan failed to provide any benefit when due under the plan2014-11-30No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-11-30$200,484
Did the plan have assets held for investment2014-11-30No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-11-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-11-30Yes
2013 : BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total income from all sources (including contributions)2013-12-31$262
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$145
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$145
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$0
Value of total assets at end of year2013-12-31$200,484
Value of total assets at beginning of year2013-12-31$200,367
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$0
Total interest from all sources2013-12-31$262
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2013-12-31$0
Was this plan covered by a fidelity bond2013-12-31No
If this is an individual account plan, was there a blackout period2013-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$117
Value of net assets at end of year (total assets less liabilities)2013-12-31$200,484
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$200,367
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2013-12-31$200,484
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2013-12-31$200,367
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2013-12-31$200,367
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2013-12-31$262
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Assets. Invements in employer securities at end of year2013-12-31$0
Assets. Invements in employer securities at beginning of year2013-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$145
Did the plan have assets held for investment2013-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Liabilities. Value of acquisition indebtedness at end of year2013-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2013-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31No
Opinion of an independent qualified public accountant for this plan2013-12-31Unqualified
Accountancy firm name2013-12-31LARSONALLEN LLP
Accountancy firm EIN2013-12-31410746749
2012 : BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2012 401k financial data
Total unrealized appreciation/depreciation of assets2012-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total income from all sources (including contributions)2012-12-31$163
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$0
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$0
Value of total assets at end of year2012-12-31$200,367
Value of total assets at beginning of year2012-12-31$200,204
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$0
Total interest from all sources2012-12-31$163
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2012-12-31$0
Was this plan covered by a fidelity bond2012-12-31No
If this is an individual account plan, was there a blackout period2012-12-31No
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$163
Value of net assets at end of year (total assets less liabilities)2012-12-31$200,367
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$200,204
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2012-12-31$200,367
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$200,204
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$200,204
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2012-12-31$163
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Assets. Invements in employer securities at end of year2012-12-31$0
Assets. Invements in employer securities at beginning of year2012-12-31$0
Did the plan have assets held for investment2012-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Liabilities. Value of acquisition indebtedness at end of year2012-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2012-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31LARSONALLEN LLP
Accountancy firm EIN2012-12-31410746749
2011 : BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$7,739,593
Total income from all sources (including contributions)2011-12-31$7,740,309
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$0
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$0
Value of total assets at end of year2011-12-31$200,204
Value of total assets at beginning of year2011-12-31$199,488
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$0
Total interest from all sources2011-12-31$716
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2011-12-31$0
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$400,000
If this is an individual account plan, was there a blackout period2011-12-31No
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Other income not declared elsewhere2011-12-31$7,739,593
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$7,740,309
Value of net assets at end of year (total assets less liabilities)2011-12-31$200,204
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$-7,540,105
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$200,204
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$199,488
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$199,488
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$716
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Assets. Invements in employer securities at end of year2011-12-31$0
Assets. Invements in employer securities at beginning of year2011-12-31$0
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Liabilities. Value of acquisition indebtedness at end of year2011-12-31$0
Liabilities. Value of acquisition indebtedness at beginning of year2011-12-31$7,739,593
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31No
Opinion of an independent qualified public accountant for this plan2011-12-31Unqualified
Accountancy firm name2011-12-31LARSONALLEN LLP
Accountancy firm EIN2011-12-31410746749
2010 : BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2010-12-31$-6,702,511
Total unrealized appreciation/depreciation of assets2010-12-31$-6,702,511
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$7,739,593
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$7,739,593
Total income from all sources (including contributions)2010-12-31$-6,699,926
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$131,997
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$131,997
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$0
Value of total assets at end of year2010-12-31$199,488
Value of total assets at beginning of year2010-12-31$7,031,411
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$0
Total interest from all sources2010-12-31$2,585
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$400,000
If this is an individual account plan, was there a blackout period2010-12-31No
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$-6,831,923
Value of net assets at end of year (total assets less liabilities)2010-12-31$-7,540,105
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$-708,182
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$199,488
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$328,900
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$328,900
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$2,585
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Assets. Invements in employer securities at end of year2010-12-31$0
Assets. Invements in employer securities at beginning of year2010-12-31$6,702,511
Contributions received in cash from employer2010-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$131,997
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Liabilities. Value of acquisition indebtedness at end of year2010-12-31$7,739,593
Liabilities. Value of acquisition indebtedness at beginning of year2010-12-31$7,739,593
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31No
Opinion of an independent qualified public accountant for this plan2010-12-31Unqualified
Accountancy firm name2010-12-31LARSONALLEN LLP
Accountancy firm EIN2010-12-31410746749
2009 : BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN

2013: BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2009: BANK OF WHITMAN EMPLOYEE STOCK OWNERSHIP PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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