401k Plan data: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST plan

SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 401k Plan overview

Plan Name	SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST
Plan identification number	003

SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST Benefits

401k Plan Type

Defined 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).
Target benefit plan
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.
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

SOUTHERN COMMERICAL BANK has sponsored the creation of one or more 401k plans.

Company Name: SOUTHERN COMMERICAL BANK

Employer identification number (EIN): 430528500

NAIC Classification: 522110
NAIC Description: Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
003 2011-01-01 KATHLEEN A BAUER THOMAS KRAHMAN 2012-10-02
003 2010-01-01 KATHLEEN BAUER THOMAS KRAHMAN 2011-07-29
003 2009-01-01 KATHLEEN A BAUER THOMAS KRAHMAN 2010-10-13

Plan id#	Filing Submission Date	Name of Administrator	Name of Company Sponsor	Date Sponsor Signed
003	2011-01-01	KATHLEEN A BAUER	THOMAS KRAHMAN	2012-10-02
003	2010-01-01	KATHLEEN BAUER	THOMAS KRAHMAN	2011-07-29
003	2009-01-01	KATHLEEN A BAUER	THOMAS KRAHMAN	2010-10-13

Plan Statistics for SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST

401k plan membership statisitcs for SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST

Measure Date Value
2011: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2011 401k membership
Total participants, beginning-of-year 2011-01-01 163
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 0
Number of retired or separated participants receiving benefits 2011-01-01 0
Number of other retired or separated participants entitled to future benefits 2011-01-01 0
Total of all active and inactive participants 2011-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 0
Total participants 2011-01-01 0
Number of participants with account balances 2011-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 0
2010: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2010 401k membership
Total participants, beginning-of-year 2010-01-01 165
Total number of active participants reported on line 7a of the Form 5500 2010-01-01 149
Number of retired or separated participants receiving benefits 2010-01-01 0
Number of other retired or separated participants entitled to future benefits 2010-01-01 8
Total of all active and inactive participants 2010-01-01 157
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2010-01-01 0
Total participants 2010-01-01 157
Number of participants with account balances 2010-01-01 148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2010-01-01 0
2009: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2009 401k membership
Total participants, beginning-of-year 2009-01-01 158
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 147
Number of retired or separated participants receiving benefits 2009-01-01 0
Number of other retired or separated participants entitled to future benefits 2009-01-01 12
Total of all active and inactive participants 2009-01-01 159
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 0
Total participants 2009-01-01 159
Number of participants with account balances 2009-01-01 161
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 1

Measure	Date	Value
2011: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2011 401k membership
Total participants, beginning-of-year	2011-01-01	163
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	0
Number of retired or separated participants receiving benefits	2011-01-01	0
Number of other retired or separated participants entitled to future benefits	2011-01-01	0
Total of all active and inactive participants	2011-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	0
Total participants	2011-01-01	0
Number of participants with account balances	2011-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	0
2010: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2010 401k membership
Total participants, beginning-of-year	2010-01-01	165
Total number of active participants reported on line 7a of the Form 5500	2010-01-01	149
Number of retired or separated participants receiving benefits	2010-01-01	0
Number of other retired or separated participants entitled to future benefits	2010-01-01	8
Total of all active and inactive participants	2010-01-01	157
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2010-01-01	0
Total participants	2010-01-01	157
Number of participants with account balances	2010-01-01	148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2010-01-01	0
2009: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2009 401k membership
Total participants, beginning-of-year	2009-01-01	158
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	147
Number of retired or separated participants receiving benefits	2009-01-01	0
Number of other retired or separated participants entitled to future benefits	2009-01-01	12
Total of all active and inactive participants	2009-01-01	159
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	0
Total participants	2009-01-01	159
Number of participants with account balances	2009-01-01	161
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	1

Financial Data on SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST

Measure	Date	Value
2011 : SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2011 401k financial data
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$0
Total income from all sources (including contributions)	2011-12-31	$56,212
Total of all expenses incurred	2011-12-31	$3,988,097
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2011-12-31	$3,987,397
Value of total assets at beginning of year	2011-12-31	$3,931,885
Total of administrative expenses incurred including professional, contract, advisory and management fees	2011-12-31	$700
Total interest from all sources	2011-12-31	$11,028
Total dividends received (eg from common stock, registered investment company shares)	2011-12-31	$665
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2011-12-31	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2011-12-31	$0
Total dividends received from registered investment company shares (eg mutual funds)	2011-12-31	$665
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
Minimum employer required contribution for this plan year	2011-12-31	$0
Amount contributed by the employer to the plan for this plan year	2011-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2011-12-31	No
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	$-3,931,885
Value of net assets at beginning of year (total assets less liabilities)	2011-12-31	$3,931,885
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
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2011-12-31	$2,093,738
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2011-12-31	$1,424,917
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2011-12-31	$1,424,917
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2011-12-31	$11,028
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2011-12-31	$44,519
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
Employer contributions (assets) at beginning of year	2011-12-31	$413,230
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2011-12-31	$3,987,397
Contract administrator fees	2011-12-31	$700
Did the plan have assets held for investment	2011-12-31	No
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
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2011-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2011-12-31	Disclaimer
Accountancy firm name	2011-12-31	CLIFTON LARSON ALLEN, LLP
Accountancy firm EIN	2011-12-31	410746749
2010 : SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2010 401k financial data
Total unrealized appreciation/depreciation of assets	2010-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$0
Total income from all sources (including contributions)	2010-12-31	$790,318
Total loss/gain on sale of assets	2010-12-31	$0
Total of all expenses incurred	2010-12-31	$1,053,190
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2010-12-31	$1,052,115
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2010-12-31	$413,230
Value of total assets at end of year	2010-12-31	$3,931,885
Value of total assets at beginning of year	2010-12-31	$4,194,757
Total of administrative expenses incurred including professional, contract, advisory and management fees	2010-12-31	$1,075
Total interest from all sources	2010-12-31	$59,899
Total dividends received (eg from common stock, registered investment company shares)	2010-12-31	$41,414
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2010-12-31	Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan	2010-12-31	$0
Total dividends received from registered investment company shares (eg mutual funds)	2010-12-31	$41,414
Administrative expenses professional fees incurred	2010-12-31	$1,075
Was this plan covered by a fidelity bond	2010-12-31	Yes
Value of fidelity bond cover	2010-12-31	$5,000,000
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
Funding deficiency by the employer to the plan for this plan year	2010-12-31	$0
Minimum employer required contribution for this plan year	2010-12-31	$413,230
Amount contributed by the employer to the plan for this plan year	2010-12-31	$413,230
Were there any nonexempt tranactions with any party-in-interest	2010-12-31	No
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	$-262,872
Value of net assets at end of year (total assets less liabilities)	2010-12-31	$3,931,885
Value of net assets at beginning of year (total assets less liabilities)	2010-12-31	$4,194,757
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
Value of interest in registered invesment companies (eg mutual funds) at end of year	2010-12-31	$2,093,738
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2010-12-31	$2,221,648
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2010-12-31	$1,424,917
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2010-12-31	$1,530,202
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2010-12-31	$1,530,202
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2010-12-31	$59,899
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2010-12-31	$275,775
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
Contributions received in cash from employer	2010-12-31	$413,230
Employer contributions (assets) at end of year	2010-12-31	$413,230
Employer contributions (assets) at beginning of year	2010-12-31	$442,907
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2010-12-31	$1,052,115
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
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2010-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2010-12-31	Disclaimer
Accountancy firm name	2010-12-31	LARSON ALLEN, LLP
Accountancy firm EIN	2010-12-31	410746749
2009 : SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2009 401k financial data
Funding deficiency by the employer to the plan for this plan year	2009-12-31	$0
Minimum employer required contribution for this plan year	2009-12-31	$442,907
Amount contributed by the employer to the plan for this plan year	2009-12-31	$442,907

Form 5500 Responses for SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST

2011: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 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	Yes
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
2010: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 2010 form 5500 responses
2010-01-01	Type of plan entity	Single employer plan
2010-01-01	Submission has been amended	Yes
2010-01-01	This submission is the final filing	No
2010-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2010-01-01	Plan is a collectively bargained plan	No
2010-01-01	Plan funding arrangement – Trust	Yes
2010-01-01	Plan benefit arrangement - Trust	Yes
2009: SOUTHERN COMMERCIAL BANK TARGET PENSION PLAN TRUST 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

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Company Name:	SOUTHERN COMMERICAL BANK
Employer identification number (EIN):	430528500
NAIC Classification:	522110
NAIC Description:	Commercial Banking