401k Plan data: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN plan

LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 401k Plan overview

Plan Name	LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN
Plan identification number	003

LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Profit-sharing
Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
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

LORAIN NATIONAL BANK has sponsored the creation of one or more 401k plans.

Company Name: LORAIN NATIONAL BANK

Employer identification number (EIN): 340869480

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
003 2014-01-01 MARY E. MILES
003 2013-01-01 MARY E. MILES
003 2012-01-01 MARY E. MILES
003 2011-01-01 MARY E. MILES
003 2009-01-01 MARY E. MILES MARY E. MILES 2010-07-28

Plan id#	Filing Submission Date	Name of Administrator	Name of Company Sponsor	Date Sponsor Signed
003	2014-01-01	MARY E. MILES
003	2013-01-01	MARY E. MILES
003	2012-01-01	MARY E. MILES
003	2011-01-01	MARY E. MILES
003	2009-01-01	MARY E. MILES	MARY E. MILES	2010-07-28

Plan Statistics for LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN

401k plan membership statisitcs for LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN

Measure Date Value
2014: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year 2014-01-01 366
Total number of active participants reported on line 7a of the Form 5500 2014-01-01 276
Number of retired or separated participants receiving benefits 2014-01-01 1
Number of other retired or separated participants entitled to future benefits 2014-01-01 92
Total of all active and inactive participants 2014-01-01 369
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2014-01-01 1
Total participants 2014-01-01 370
Number of participants with account balances 2014-01-01 370
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2014-01-01 0
2013: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year 2013-01-01 350
Total number of active participants reported on line 7a of the Form 5500 2013-01-01 273
Number of retired or separated participants receiving benefits 2013-01-01 1
Number of other retired or separated participants entitled to future benefits 2013-01-01 92
Total of all active and inactive participants 2013-01-01 366
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2013-01-01 0
Total participants 2013-01-01 366
Number of participants with account balances 2013-01-01 364
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2013-01-01 0
2012: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year 2012-01-01 344
Total number of active participants reported on line 7a of the Form 5500 2012-01-01 266
Number of retired or separated participants receiving benefits 2012-01-01 1
Number of other retired or separated participants entitled to future benefits 2012-01-01 81
Total of all active and inactive participants 2012-01-01 348
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2012-01-01 2
Total participants 2012-01-01 350
Number of participants with account balances 2012-01-01 342
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2012-01-01 0
2011: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2011 401k membership
Total participants, beginning-of-year 2011-01-01 389
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 265
Number of retired or separated participants receiving benefits 2011-01-01 1
Number of other retired or separated participants entitled to future benefits 2011-01-01 77
Total of all active and inactive participants 2011-01-01 343
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 1
Total participants 2011-01-01 344
Number of participants with account balances 2011-01-01 342
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 0
2009: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year 2009-01-01 420
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 288
Number of retired or separated participants receiving benefits 2009-01-01 1
Number of other retired or separated participants entitled to future benefits 2009-01-01 123
Total of all active and inactive participants 2009-01-01 412
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 2
Total participants 2009-01-01 414
Number of participants with account balances 2009-01-01 414
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 0

Measure	Date	Value
2014: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2014 401k membership
Total participants, beginning-of-year	2014-01-01	366
Total number of active participants reported on line 7a of the Form 5500	2014-01-01	276
Number of retired or separated participants receiving benefits	2014-01-01	1
Number of other retired or separated participants entitled to future benefits	2014-01-01	92
Total of all active and inactive participants	2014-01-01	369
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2014-01-01	1
Total participants	2014-01-01	370
Number of participants with account balances	2014-01-01	370
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2014-01-01	0
2013: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2013 401k membership
Total participants, beginning-of-year	2013-01-01	350
Total number of active participants reported on line 7a of the Form 5500	2013-01-01	273
Number of retired or separated participants receiving benefits	2013-01-01	1
Number of other retired or separated participants entitled to future benefits	2013-01-01	92
Total of all active and inactive participants	2013-01-01	366
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2013-01-01	0
Total participants	2013-01-01	366
Number of participants with account balances	2013-01-01	364
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2013-01-01	0
2012: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2012 401k membership
Total participants, beginning-of-year	2012-01-01	344
Total number of active participants reported on line 7a of the Form 5500	2012-01-01	266
Number of retired or separated participants receiving benefits	2012-01-01	1
Number of other retired or separated participants entitled to future benefits	2012-01-01	81
Total of all active and inactive participants	2012-01-01	348
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2012-01-01	2
Total participants	2012-01-01	350
Number of participants with account balances	2012-01-01	342
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2012-01-01	0
2011: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2011 401k membership
Total participants, beginning-of-year	2011-01-01	389
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	265
Number of retired or separated participants receiving benefits	2011-01-01	1
Number of other retired or separated participants entitled to future benefits	2011-01-01	77
Total of all active and inactive participants	2011-01-01	343
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	1
Total participants	2011-01-01	344
Number of participants with account balances	2011-01-01	342
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	0
2009: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year	2009-01-01	420
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	288
Number of retired or separated participants receiving benefits	2009-01-01	1
Number of other retired or separated participants entitled to future benefits	2009-01-01	123
Total of all active and inactive participants	2009-01-01	412
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	2
Total participants	2009-01-01	414
Number of participants with account balances	2009-01-01	414
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	0

Financial Data on LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN

Measure	Date	Value
2014 : LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2014 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2014-12-31	$3,745,215
Total unrealized appreciation/depreciation of assets	2014-12-31	$3,745,215
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2014-12-31	$4,565
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2014-12-31	$1,879
Total income from all sources (including contributions)	2014-12-31	$6,274,573
Total loss/gain on sale of assets	2014-12-31	$163,284
Total of all expenses incurred	2014-12-31	$1,616,976
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2014-12-31	$1,529,184
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2014-12-31	$1,469,301
Value of total assets at end of year	2014-12-31	$19,226,426
Value of total assets at beginning of year	2014-12-31	$14,566,143
Total of administrative expenses incurred including professional, contract, advisory and management fees	2014-12-31	$87,792
Total interest from all sources	2014-12-31	$25,496
Total dividends received (eg from common stock, registered investment company shares)	2014-12-31	$29,777
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2014-12-31	No
Was this plan covered by a fidelity bond	2014-12-31	Yes
Value of fidelity bond cover	2014-12-31	$5,000,000
If this is an individual account plan, was there a blackout period	2014-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2014-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2014-12-31	No
Contributions received from participants	2014-12-31	$947,685
Participant contributions at end of year	2014-12-31	$714,159
Participant contributions at beginning of year	2014-12-31	$577,470
Income. Received or receivable in cash from other sources (including rollovers)	2014-12-31	$13,750
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2014-12-31	$4,565
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2014-12-31	$1,879
Administrative expenses (other) incurred	2014-12-31	$20,528
Total non interest bearing cash at end of year	2014-12-31	$36,766
Total non interest bearing cash at beginning of year	2014-12-31	$1,497
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2014-12-31	No
Value of net income/loss	2014-12-31	$4,657,597
Value of net assets at end of year (total assets less liabilities)	2014-12-31	$19,221,861
Value of net assets at beginning of year (total assets less liabilities)	2014-12-31	$14,564,264
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2014-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2014-12-31	No
Were any leases to which the plan was party in default or uncollectible	2014-12-31	No
Investment advisory and management fees	2014-12-31	$8,398
Interest on participant loans	2014-12-31	$25,106
Value of interest in common/collective trusts at end of year	2014-12-31	$9,503,108
Value of interest in common/collective trusts at beginning of year	2014-12-31	$8,656,952
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2014-12-31	$242,267
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2014-12-31	$214,404
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2014-12-31	$214,404
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2014-12-31	$390
Net investment gain or loss from common/collective trusts	2014-12-31	$841,500
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2014-12-31	No
Was there a failure to transmit to the plan any participant contributions	2014-12-31	No
Has the plan failed to provide any benefit when due under the plan	2014-12-31	No
Assets. Invements in employer securities at end of year	2014-12-31	$8,730,126
Assets. Invements in employer securities at beginning of year	2014-12-31	$5,115,820
Contributions received in cash from employer	2014-12-31	$507,866
Income. Dividends from common stock	2014-12-31	$29,777
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2014-12-31	$1,529,184
Contract administrator fees	2014-12-31	$58,866
Did the plan have assets held for investment	2014-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2014-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2014-12-31	No
Aggregate proceeds on sale of assets	2014-12-31	$815,627
Aggregate carrying amount (costs) on sale of assets	2014-12-31	$652,343
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2014-12-31	No
Opinion of an independent qualified public accountant for this plan	2014-12-31	Unqualified
Accountancy firm name	2014-12-31	CROWE HORWATH LLP
Accountancy firm EIN	2014-12-31	350921680
2013 : LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2013 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2013-12-31	$1,869,308
Total unrealized appreciation/depreciation of assets	2013-12-31	$1,869,308
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2013-12-31	$1,879
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2013-12-31	$826
Total income from all sources (including contributions)	2013-12-31	$4,916,007
Total loss/gain on sale of assets	2013-12-31	$78,439
Total of all expenses incurred	2013-12-31	$429,819
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2013-12-31	$354,344
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2013-12-31	$1,504,111
Value of total assets at end of year	2013-12-31	$14,566,143
Value of total assets at beginning of year	2013-12-31	$10,078,902
Total of administrative expenses incurred including professional, contract, advisory and management fees	2013-12-31	$75,475
Total interest from all sources	2013-12-31	$21,595
Total dividends received (eg from common stock, registered investment company shares)	2013-12-31	$19,067
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2013-12-31	No
Was this plan covered by a fidelity bond	2013-12-31	Yes
Value of fidelity bond cover	2013-12-31	$5,000,000
If this is an individual account plan, was there a blackout period	2013-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2013-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2013-12-31	No
Contributions received from participants	2013-12-31	$895,643
Participant contributions at end of year	2013-12-31	$577,470
Participant contributions at beginning of year	2013-12-31	$524,062
Income. Received or receivable in cash from other sources (including rollovers)	2013-12-31	$141,278
Value of other receiveables (less allowance for doubtful accounts) at end of year	2013-12-31	$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2013-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2013-12-31	$1,879
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2013-12-31	$826
Administrative expenses (other) incurred	2013-12-31	$18,419
Total non interest bearing cash at end of year	2013-12-31	$1,497
Total non interest bearing cash at beginning of year	2013-12-31	$1,296
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2013-12-31	No
Value of net income/loss	2013-12-31	$4,486,188
Value of net assets at end of year (total assets less liabilities)	2013-12-31	$14,564,264
Value of net assets at beginning of year (total assets less liabilities)	2013-12-31	$10,078,076
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2013-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2013-12-31	No
Were any leases to which the plan was party in default or uncollectible	2013-12-31	No
Investment advisory and management fees	2013-12-31	$7,773
Interest on participant loans	2013-12-31	$21,193
Value of interest in common/collective trusts at end of year	2013-12-31	$8,656,952
Value of interest in common/collective trusts at beginning of year	2013-12-31	$6,602,765
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2013-12-31	$214,404
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2013-12-31	$208,164
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2013-12-31	$208,164
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2013-12-31	$402
Net investment gain or loss from common/collective trusts	2013-12-31	$1,423,487
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2013-12-31	No
Was there a failure to transmit to the plan any participant contributions	2013-12-31	No
Has the plan failed to provide any benefit when due under the plan	2013-12-31	No
Assets. Invements in employer securities at end of year	2013-12-31	$5,115,820
Assets. Invements in employer securities at beginning of year	2013-12-31	$2,742,615
Contributions received in cash from employer	2013-12-31	$467,190
Income. Dividends from common stock	2013-12-31	$19,067
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2013-12-31	$354,344
Contract administrator fees	2013-12-31	$49,283
Did the plan have assets held for investment	2013-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2013-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2013-12-31	No
Aggregate proceeds on sale of assets	2013-12-31	$270,343
Aggregate carrying amount (costs) on sale of assets	2013-12-31	$191,904
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2013-12-31	No
Opinion of an independent qualified public accountant for this plan	2013-12-31	Unqualified
Accountancy firm name	2013-12-31	CROWE HORWATH LLP
Accountancy firm EIN	2013-12-31	350921680
2012 : LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2012 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2012-12-31	$464,277
Total unrealized appreciation/depreciation of assets	2012-12-31	$464,277
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2012-12-31	$826
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2012-12-31	$332
Total income from all sources (including contributions)	2012-12-31	$2,653,316
Total loss/gain on sale of assets	2012-12-31	$55,215
Total of all expenses incurred	2012-12-31	$1,179,946
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2012-12-31	$1,115,771
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2012-12-31	$1,300,429
Value of total assets at end of year	2012-12-31	$10,078,902
Value of total assets at beginning of year	2012-12-31	$8,605,038
Total of administrative expenses incurred including professional, contract, advisory and management fees	2012-12-31	$64,175
Total interest from all sources	2012-12-31	$19,150
Total dividends received (eg from common stock, registered investment company shares)	2012-12-31	$18,349
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2012-12-31	No
Was this plan covered by a fidelity bond	2012-12-31	Yes
Value of fidelity bond cover	2012-12-31	$5,000,000
If this is an individual account plan, was there a blackout period	2012-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2012-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2012-12-31	No
Contributions received from participants	2012-12-31	$818,298
Participant contributions at end of year	2012-12-31	$524,062
Participant contributions at beginning of year	2012-12-31	$364,642
Income. Received or receivable in cash from other sources (including rollovers)	2012-12-31	$72,515
Value of other receiveables (less allowance for doubtful accounts) at end of year	2012-12-31	$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year	2012-12-31	$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2012-12-31	$826
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2012-12-31	$332
Administrative expenses (other) incurred	2012-12-31	$16,420
Total non interest bearing cash at end of year	2012-12-31	$1,296
Total non interest bearing cash at beginning of year	2012-12-31	$15,202
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2012-12-31	No
Value of net income/loss	2012-12-31	$1,473,370
Value of net assets at end of year (total assets less liabilities)	2012-12-31	$10,078,076
Value of net assets at beginning of year (total assets less liabilities)	2012-12-31	$8,604,706
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2012-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2012-12-31	No
Were any leases to which the plan was party in default or uncollectible	2012-12-31	No
Investment advisory and management fees	2012-12-31	$6,800
Interest on participant loans	2012-12-31	$19,149
Value of interest in common/collective trusts at end of year	2012-12-31	$6,602,765
Value of interest in common/collective trusts at beginning of year	2012-12-31	$5,929,758
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2012-12-31	$208,164
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2012-12-31	$180,709
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2012-12-31	$180,709
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2012-12-31	$1
Net investment gain or loss from common/collective trusts	2012-12-31	$795,896
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2012-12-31	Yes
Was there a failure to transmit to the plan any participant contributions	2012-12-31	No
Has the plan failed to provide any benefit when due under the plan	2012-12-31	No
Assets. Invements in employer securities at end of year	2012-12-31	$2,742,615
Assets. Invements in employer securities at beginning of year	2012-12-31	$2,114,727
Contributions received in cash from employer	2012-12-31	$409,616
Income. Dividends from common stock	2012-12-31	$18,349
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2012-12-31	$1,115,771
Contract administrator fees	2012-12-31	$40,955
Did the plan have assets held for investment	2012-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2012-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2012-12-31	No
Aggregate proceeds on sale of assets	2012-12-31	$307,309
Aggregate carrying amount (costs) on sale of assets	2012-12-31	$252,094
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2012-12-31	No
Opinion of an independent qualified public accountant for this plan	2012-12-31	Unqualified
Accountancy firm name	2012-12-31	PLANTE & MORAN, PLLC
Accountancy firm EIN	2012-12-31	381357951
2011 : LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2011 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2011-12-31	$-141,410
Total unrealized appreciation/depreciation of assets	2011-12-31	$-141,410
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$332
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$1,010
Total income from all sources (including contributions)	2011-12-31	$1,163,046
Total loss/gain on sale of assets	2011-12-31	$2,868
Total of all expenses incurred	2011-12-31	$519,359
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2011-12-31	$458,831
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2011-12-31	$1,172,148
Value of total assets at end of year	2011-12-31	$8,605,038
Value of total assets at beginning of year	2011-12-31	$7,962,029
Total of administrative expenses incurred including professional, contract, advisory and management fees	2011-12-31	$60,528
Total interest from all sources	2011-12-31	$13,395
Total dividends received (eg from common stock, registered investment company shares)	2011-12-31	$17,229
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2011-12-31	No
Was this plan covered by a fidelity bond	2011-12-31	Yes
Value of fidelity bond cover	2011-12-31	$5,000,000
If this is an individual account plan, was there a blackout period	2011-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2011-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2011-12-31	No
Contributions received from participants	2011-12-31	$776,990
Participant contributions at end of year	2011-12-31	$364,642
Participant contributions at beginning of year	2011-12-31	$284,868
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2011-12-31	$332
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2011-12-31	$1,010
Administrative expenses (other) incurred	2011-12-31	$17,285
Total non interest bearing cash at end of year	2011-12-31	$15,202
Total non interest bearing cash at beginning of year	2011-12-31	$15,232
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2011-12-31	No
Value of net income/loss	2011-12-31	$643,687
Value of net assets at end of year (total assets less liabilities)	2011-12-31	$8,604,706
Value of net assets at beginning of year (total assets less liabilities)	2011-12-31	$7,961,019
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2011-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2011-12-31	No
Were any leases to which the plan was party in default or uncollectible	2011-12-31	No
Investment advisory and management fees	2011-12-31	$6,031
Interest on participant loans	2011-12-31	$13,394
Value of interest in common/collective trusts at end of year	2011-12-31	$5,929,758
Value of interest in common/collective trusts at beginning of year	2011-12-31	$5,469,839
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2011-12-31	$180,709
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2011-12-31	$178,276
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2011-12-31	$178,276
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2011-12-31	$1
Net investment gain or loss from common/collective trusts	2011-12-31	$98,816
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2011-12-31	No
Was there a failure to transmit to the plan any participant contributions	2011-12-31	No
Has the plan failed to provide any benefit when due under the plan	2011-12-31	No
Assets. Invements in employer securities at end of year	2011-12-31	$2,114,727
Assets. Invements in employer securities at beginning of year	2011-12-31	$2,013,814
Contributions received in cash from employer	2011-12-31	$395,158
Income. Dividends from common stock	2011-12-31	$17,229
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2011-12-31	$458,831
Contract administrator fees	2011-12-31	$37,212
Did the plan have assets held for investment	2011-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2011-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2011-12-31	No
Aggregate proceeds on sale of assets	2011-12-31	$143,802
Aggregate carrying amount (costs) on sale of assets	2011-12-31	$140,934
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2011-12-31	No
Opinion of an independent qualified public accountant for this plan	2011-12-31	Unqualified
Accountancy firm name	2011-12-31	PLANTE & MORAN, PLLC
Accountancy firm EIN	2011-12-31	381357951
2010 : LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2010-12-31	$226,388
Total unrealized appreciation/depreciation of assets	2010-12-31	$226,388
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$1,010
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$711
Total income from all sources (including contributions)	2010-12-31	$2,082,903
Total loss/gain on sale of assets	2010-12-31	$7,404
Total of all expenses incurred	2010-12-31	$447,850
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2010-12-31	$395,003
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2010-12-31	$1,107,695
Value of total assets at end of year	2010-12-31	$7,962,029
Value of total assets at beginning of year	2010-12-31	$6,326,677
Total of administrative expenses incurred including professional, contract, advisory and management fees	2010-12-31	$52,847
Total interest from all sources	2010-12-31	$12,338
Total dividends received (eg from common stock, registered investment company shares)	2010-12-31	$14,887
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2010-12-31	No
Was this plan covered by a fidelity bond	2010-12-31	Yes
Value of fidelity bond cover	2010-12-31	$6,000,000
If this is an individual account plan, was there a blackout period	2010-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2010-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2010-12-31	No
Contributions received from participants	2010-12-31	$716,588
Participant contributions at end of year	2010-12-31	$284,868
Participant contributions at beginning of year	2010-12-31	$221,363
Income. Received or receivable in cash from other sources (including rollovers)	2010-12-31	$16,965
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year	2010-12-31	$1,010
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year	2010-12-31	$711
Administrative expenses (other) incurred	2010-12-31	$16,356
Total non interest bearing cash at end of year	2010-12-31	$15,232
Total non interest bearing cash at beginning of year	2010-12-31	$14,744
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2010-12-31	No
Value of net income/loss	2010-12-31	$1,635,053
Value of net assets at end of year (total assets less liabilities)	2010-12-31	$7,961,019
Value of net assets at beginning of year (total assets less liabilities)	2010-12-31	$6,325,966
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2010-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2010-12-31	No
Were any leases to which the plan was party in default or uncollectible	2010-12-31	No
Investment advisory and management fees	2010-12-31	$4,930
Interest on participant loans	2010-12-31	$12,338
Value of interest in common/collective trusts at end of year	2010-12-31	$5,469,839
Value of interest in common/collective trusts at beginning of year	2010-12-31	$4,584,288
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2010-12-31	$178,276
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2010-12-31	$1,144
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2010-12-31	$1,144
Net investment gain or loss from common/collective trusts	2010-12-31	$714,191
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2010-12-31	No
Was there a failure to transmit to the plan any participant contributions	2010-12-31	No
Has the plan failed to provide any benefit when due under the plan	2010-12-31	No
Assets. Invements in employer securities at end of year	2010-12-31	$2,013,814
Assets. Invements in employer securities at beginning of year	2010-12-31	$1,505,138
Contributions received in cash from employer	2010-12-31	$374,142
Income. Dividends from common stock	2010-12-31	$14,887
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2010-12-31	$395,003
Contract administrator fees	2010-12-31	$31,561
Did the plan have assets held for investment	2010-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2010-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2010-12-31	No
Aggregate proceeds on sale of assets	2010-12-31	$122,365
Aggregate carrying amount (costs) on sale of assets	2010-12-31	$114,961
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2010-12-31	No
Opinion of an independent qualified public accountant for this plan	2010-12-31	Unqualified
Accountancy firm name	2010-12-31	PLANTE & MORAN, PLLC
Accountancy firm EIN	2010-12-31	381357951
2009 : LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2009-12-31	$0

Form 5500 Responses for LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN

2014: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2014 form 5500 responses
2014-01-01	Type of plan entity	Single employer plan
2014-01-01	Submission has been amended	No
2014-01-01	This submission is the final filing	No
2014-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2014-01-01	Plan is a collectively bargained plan	No
2014-01-01	Plan funding arrangement – Trust	Yes
2014-01-01	Plan benefit arrangement - Trust	Yes
2013: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2013 form 5500 responses
2013-01-01	Type of plan entity	Single employer plan
2013-01-01	Submission has been amended	No
2013-01-01	This submission is the final filing	No
2013-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2013-01-01	Plan is a collectively bargained plan	No
2013-01-01	Plan funding arrangement – Trust	Yes
2013-01-01	Plan benefit arrangement - Trust	Yes
2012: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2012 form 5500 responses
2012-01-01	Type of plan entity	Single employer plan
2012-01-01	Submission has been amended	No
2012-01-01	This submission is the final filing	No
2012-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2012-01-01	Plan is a collectively bargained plan	No
2012-01-01	Plan funding arrangement – Trust	Yes
2012-01-01	Plan benefit arrangement - Trust	Yes
2011: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2011 form 5500 responses
2011-01-01	Type of plan entity	Single employer plan
2011-01-01	Submission has been amended	No
2011-01-01	This submission is the final filing	No
2011-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2011-01-01	Plan is a collectively bargained plan	No
2011-01-01	Plan funding arrangement – Trust	Yes
2011-01-01	Plan benefit arrangement - Trust	Yes
2009: LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN 2009 form 5500 responses
2009-01-01	Type of plan entity	Single employer plan
2009-01-01	Submission has been amended	No
2009-01-01	This submission is the final filing	No
2009-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2009-01-01	Plan is a collectively bargained plan	No
2009-01-01	Plan funding arrangement – Trust	Yes
2009-01-01	Plan benefit arrangement - Trust	Yes

Potentially related plans

LORAIN NATIONAL BANK EMPLOYEES' 401(K) PLAN [EIN = 250368460]

Was this data useful?

If you found the data here useful, PLEASE HELP US. We are a start-up and believe in making information freely available. By linking to us, posting on twitter, facebook and linkedin about us and generally spreading the word, you'll help us to grow. Our vision is to provide high quality data about the activities of all the companies in the world and where possible make it free to use and view. Finding and integrating data from thousands of data sources is time consuming and needs lots of effort. By simply spreading the word about us, you will help us. Please use the share buttons. It will only take a few seconds of your time. Thanks for helping

Information Disclaimer

The information provided on this website is not advice, endorsement or recommendation
The information published is supplied by third parties so we make no warranty on the accuracy, completeness etc. This information is provided "as-is". The information is subject to change as we obtain updates and corrections from the primary information sources.
You are free to use the information for your own personal research on the understanding to do so is at your own risk.

See full terms and conditions

Company Name:	LORAIN NATIONAL BANK
Employer identification number (EIN):	340869480
NAIC Classification:	522110
NAIC Description:	Commercial Banking