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GLENWOOD STATE BANK PROFIT SHARING PLAN 401k Plan overview

Plan NameGLENWOOD STATE BANK PROFIT SHARING PLAN
Plan identification number 001

GLENWOOD STATE BANK PROFIT SHARING 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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 sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

GLENWOOD STATE BANK has sponsored the creation of one or more 401k plans.

Company Name:GLENWOOD STATE BANK
Employer identification number (EIN):410278940
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about GLENWOOD STATE BANK

Jurisdiction of Incorporation: Iowa Secretary of State Business Entities
Incorporation Date: 1899-02-27
Company Identification Number: 084905
Legal Registered Office Address: 32 N WALNUT ST

GLENWOOD
United States of America (USA)
51534

More information about GLENWOOD STATE BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GLENWOOD STATE BANK PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01RICH JOHNSON2024-09-16
0012022-01-01RICH JOHNSON2023-09-27
0012021-01-01RACHEL JAHNER2022-07-20
0012020-01-01PETER NELSON2021-06-30 PETER NELSON2021-06-30
0012019-01-01PETER NELSON2020-07-20 PETER NELSON2020-07-20
0012018-01-01PETER NELSON2019-03-08 PETER NELSON2019-03-08
0012017-01-01PETER NELSON2018-07-12 PETER NELSON2018-07-12
0012016-01-01PETER NELSON PETER NELSON2017-05-10
0012015-01-01PETER NELSON PETER NELSON2016-04-21
0012014-01-01PETER NELSON
0012013-01-01PETER NELSON
0012012-01-01PETER NELSON
0012011-01-01PETER NELSON
0012010-01-01PETER NELSON2011-02-22

Financial Data on GLENWOOD STATE BANK PROFIT SHARING PLAN

Measure Date Value
2025 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-07-20245928
Net assets as of the end of the plan year2025-07-2015972060
Total assets as of the beginning of the plan year2025-07-2012668339
Value of plan covered by a fidelity bond2025-07-206000000
Participant contributions to plan in this plan year2025-07-20475328
Other contributions to plan in this plan year2025-07-20211845
Other income to plan in this plan year2025-07-201781801
Plan net income in this plan year2025-07-203303721
Net assets as of the end of the plan year2025-07-2015972060
Net assets as of the beginning of the plan year2025-07-2012668339
Employer contributions to plan in this plan year2025-07-201080675
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-2055346
2024 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-09-16473156
Net assets as of the end of the plan year2024-09-1612668339
Total assets as of the beginning of the plan year2024-09-1610214283
Value of plan covered by a fidelity bond2024-09-166000000
Participant contributions to plan in this plan year2024-09-16410376
Other contributions to plan in this plan year2024-09-1659762
Other income to plan in this plan year2024-09-161500478
Plan net income in this plan year2024-09-162454056
Net assets as of the end of the plan year2024-09-1612668339
Net assets as of the beginning of the plan year2024-09-1610214283
Employer contributions to plan in this plan year2024-09-16956596
Expensese paid to adminstrative service provicers from plan in this plan year2024-09-1643938
2016 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2016 401k financial data
Total income from all sources2016-12-31$1,002,475
Expenses. Total of all expenses incurred2016-12-31$544,337
Benefits paid (including direct rollovers)2016-12-31$542,412
Total plan assets at end of year2016-12-31$6,471,979
Total plan assets at beginning of year2016-12-31$6,013,841
Value of fidelity bond covering the plan2016-12-31$4,000,000
Total contributions received or receivable from participants2016-12-31$99,023
Assets. Value of loans (other than to participants)2016-12-31$0
Expenses. Other expenses not covered elsewhere2016-12-31$0
Contributions received from other sources (not participants or employers)2016-12-31$258,553
Other income received2016-12-31$246,883
Net income (gross income less expenses)2016-12-31$458,138
Net plan assets at end of year (total assets less liabilities)2016-12-31$6,471,979
Net plan assets at beginning of year (total assets less liabilities)2016-12-31$6,013,841
Total contributions received or receivable from employer(s)2016-12-31$398,016
Value of certain deemed distributions of participant loans2016-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2016-12-31$1,925
2015 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2015 401k financial data
Total income from all sources2015-12-31$755,889
Expenses. Total of all expenses incurred2015-12-31$346,885
Benefits paid (including direct rollovers)2015-12-31$346,535
Total plan assets at end of year2015-12-31$6,013,841
Total plan assets at beginning of year2015-12-31$5,604,837
Value of fidelity bond covering the plan2015-12-31$4,000,000
Total contributions received or receivable from participants2015-12-31$96,791
Assets. Value of loans (other than to participants)2015-12-31$1,625,691
Expenses. Other expenses not covered elsewhere2015-12-31$0
Contributions received from other sources (not participants or employers)2015-12-31$150,565
Other income received2015-12-31$116,648
Net income (gross income less expenses)2015-12-31$409,004
Net plan assets at end of year (total assets less liabilities)2015-12-31$6,013,841
Net plan assets at beginning of year (total assets less liabilities)2015-12-31$5,604,837
Total contributions received or receivable from employer(s)2015-12-31$391,885
Expenses. Administrative service providers (salaries,fees and commissions)2015-12-31$350
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
2014 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2014 401k financial data
Total income from all sources2014-12-31$754,403
Expenses. Total of all expenses incurred2014-12-31$122,111
Benefits paid (including direct rollovers)2014-12-31$114,797
Total plan assets at end of year2014-12-31$5,604,837
Total plan assets at beginning of year2014-12-31$4,972,545
Value of fidelity bond covering the plan2014-12-31$2,000,000
Total contributions received or receivable from participants2014-12-31$61,848
Assets. Value of loans (other than to participants)2014-12-31$1,743,676
Expenses. Other expenses not covered elsewhere2014-12-31$7,314
Contributions received from other sources (not participants or employers)2014-12-31$109,426
Other income received2014-12-31$215,996
Net income (gross income less expenses)2014-12-31$632,292
Net plan assets at end of year (total assets less liabilities)2014-12-31$5,604,837
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$4,972,545
Total contributions received or receivable from employer(s)2014-12-31$367,133
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
2013 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2013 401k financial data
Total income from all sources2013-12-31$849,623
Expenses. Total of all expenses incurred2013-12-31$745,447
Benefits paid (including direct rollovers)2013-12-31$745,447
Total plan assets at end of year2013-12-31$4,972,545
Total plan assets at beginning of year2013-12-31$4,868,369
Value of fidelity bond covering the plan2013-12-31$2,000,000
Total contributions received or receivable from participants2013-12-31$60,838
Assets. Value of loans (other than to participants)2013-12-31$1,721,138
Contributions received from other sources (not participants or employers)2013-12-31$33,714
Other income received2013-12-31$455,868
Net income (gross income less expenses)2013-12-31$104,176
Net plan assets at end of year (total assets less liabilities)2013-12-31$4,972,545
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$4,868,369
Total contributions received or receivable from employer(s)2013-12-31$299,203
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
2012 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2012 401k financial data
Total income from all sources2012-12-31$861,314
Expenses. Total of all expenses incurred2012-12-31$256,174
Benefits paid (including direct rollovers)2012-12-31$256,174
Total plan assets at end of year2012-12-31$4,868,369
Total plan assets at beginning of year2012-12-31$4,263,229
Value of fidelity bond covering the plan2012-12-31$2,000,000
Total contributions received or receivable from participants2012-12-31$25,148
Assets. Value of loans (other than to participants)2012-12-31$1,907,786
Other income received2012-12-31$304,654
Net income (gross income less expenses)2012-12-31$605,140
Net plan assets at end of year (total assets less liabilities)2012-12-31$4,868,369
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$4,263,229
Total contributions received or receivable from employer(s)2012-12-31$531,512
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : GLENWOOD STATE BANK PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources2011-12-31$-828
Expenses. Total of all expenses incurred2011-12-31$20,357
Benefits paid (including direct rollovers)2011-12-31$20,357
Total plan assets at end of year2011-12-31$4,263,229
Total plan assets at beginning of year2011-12-31$4,284,414
Value of fidelity bond covering the plan2011-12-31$2,000,000
Total contributions received or receivable from participants2011-12-31$21,948
Assets. Value of loans (other than to participants)2011-12-31$1,867,649
Other income received2011-12-31$-28,176
Net income (gross income less expenses)2011-12-31$-21,185
Net plan assets at end of year (total assets less liabilities)2011-12-31$4,263,229
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$4,284,414
Total contributions received or receivable from employer(s)2011-12-31$5,400
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0

Form 5500 Responses for GLENWOOD STATE BANK PROFIT SHARING PLAN

2016: GLENWOOD STATE BANK PROFIT SHARING PLAN 2016 form 5500 responses
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan benefit arrangement - TrustYes
2015: GLENWOOD STATE BANK PROFIT SHARING PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement – InsuranceYes
2015-01-01Plan benefit arrangement - TrustYes
2014: GLENWOOD STATE BANK PROFIT SHARING PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: GLENWOOD STATE BANK PROFIT SHARING 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
2012: GLENWOOD STATE BANK PROFIT SHARING PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: GLENWOOD STATE BANK PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number813052
Policy instance 1

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