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| Plan Name | MONARCH BANK RETIREMENT PLAN |
| Plan identification number | 001 |
| 401k Plan Type | Defined Contribution Pension |
| Plan Features/Benefits |
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| Company Name: | MONARCH BANK |
| Employer identification number (EIN): | 541896433 |
| NAIC Classification: | 522110 |
| NAIC Description: | Commercial Banking |
Additional information about MONARCH BANK
| Jurisdiction of Incorporation: | Virginia Secretary of State |
| Incorporation Date: | 1998-05-01 |
| Company Identification Number: | 0502224 |
| Legal Registered Office Address: |
1435 CROSSWAYS BLVD, SUITE 301 CHESAPEAKE United States of America (USA) 23320 |
More information about MONARCH BANK
| Plan id# | Filing Submission Date | Name of Administrator | Date Administrator Signed | Name of Company Sponsor | Date Sponsor Signed |
|---|---|---|---|---|---|
| 001 | 2017-01-01 | BRAD SCHWARTZ | 2018-06-05 | ||
| 001 | 2016-01-01 | ||||
| 001 | 2015-01-01 | ||||
| 001 | 2014-01-01 | ||||
| 001 | 2013-01-01 | ||||
| 001 | 2012-01-01 | SHELLEY PETERSON - PREPARER | |||
| 001 | 2011-01-01 | SHELLEY PETERSON - PREPARER | |||
| 001 | 2010-01-01 | SHELLEY PETERSON - PREPARER | |||
| 001 | 2009-01-01 | SHELLEY PETERSON |
| Measure | Date | Value |
|---|---|---|
| 2016 : MONARCH BANK RETIREMENT PLAN 2016 401k financial data | ||
| Total income from all sources (including contributions) | 2016-12-31 | $6,471,600 |
| Total of all expenses incurred | 2016-12-31 | $37,346,903 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2016-12-31 | $37,227,858 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2016-12-31 | $2,314,663 |
| Value of total assets at end of year | 2016-12-31 | $1,351 |
| Value of total assets at beginning of year | 2016-12-31 | $30,876,654 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2016-12-31 | $119,045 |
| Total dividends received (eg from common stock, registered investment company shares) | 2016-12-31 | $48,386 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2016-12-31 | Yes |
| Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan | 2016-12-31 | $0 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2016-12-31 | $48,386 |
| Was this plan covered by a fidelity bond | 2016-12-31 | Yes |
| Value of fidelity bond cover | 2016-12-31 | $8,000,000 |
| If this is an individual account plan, was there a blackout period | 2016-12-31 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2016-12-31 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2016-12-31 | No |
| Contributions received from participants | 2016-12-31 | $1,789,083 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2016-12-31 | $533 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2016-12-31 | No |
| Value of net income/loss | 2016-12-31 | $-30,875,303 |
| Value of net assets at end of year (total assets less liabilities) | 2016-12-31 | $1,351 |
| Value of net assets at beginning of year (total assets less liabilities) | 2016-12-31 | $30,876,654 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2016-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2016-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2016-12-31 | No |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2016-12-31 | $1,351 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2016-12-31 | $30,876,654 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2016-12-31 | $4,108,551 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2016-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2016-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2016-12-31 | No |
| Contributions received in cash from employer | 2016-12-31 | $525,047 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2016-12-31 | $37,227,858 |
| Contract administrator fees | 2016-12-31 | $119,045 |
| Did the plan have assets held for investment | 2016-12-31 | 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 | 2016-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2016-12-31 | No |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2016-12-31 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2016-12-31 | Disclaimer |
| Accountancy firm name | 2016-12-31 | YOUNT, HYDE & BARBOUR, P.C. |
| Accountancy firm EIN | 2016-12-31 | 541149263 |
| 2015 : MONARCH BANK RETIREMENT PLAN 2015 401k financial data | ||
| Total income from all sources (including contributions) | 2015-12-31 | $6,783,167 |
| Total of all expenses incurred | 2015-12-31 | $1,286,045 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2015-12-31 | $1,232,446 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2015-12-31 | $3,875,990 |
| Value of total assets at end of year | 2015-12-31 | $30,876,654 |
| Value of total assets at beginning of year | 2015-12-31 | $25,379,532 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2015-12-31 | $53,599 |
| Total dividends received (eg from common stock, registered investment company shares) | 2015-12-31 | $71,726 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2015-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2015-12-31 | $71,726 |
| Was this plan covered by a fidelity bond | 2015-12-31 | Yes |
| Value of fidelity bond cover | 2015-12-31 | $8,000,000 |
| If this is an individual account plan, was there a blackout period | 2015-12-31 | No |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2015-12-31 | $0 |
| Were there any nonexempt tranactions with any party-in-interest | 2015-12-31 | No |
| Contributions received from participants | 2015-12-31 | $3,099,139 |
| Participant contributions at end of year | 2015-12-31 | $0 |
| Participant contributions at beginning of year | 2015-12-31 | $69,242 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2015-12-31 | $90,489 |
| Other income not declared elsewhere | 2015-12-31 | $582 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2015-12-31 | No |
| Value of net income/loss | 2015-12-31 | $5,497,122 |
| Value of net assets at end of year (total assets less liabilities) | 2015-12-31 | $30,876,654 |
| Value of net assets at beginning of year (total assets less liabilities) | 2015-12-31 | $25,379,532 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2015-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2015-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2015-12-31 | No |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2015-12-31 | $30,876,654 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2015-12-31 | $25,286,652 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2015-12-31 | $2,834,869 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2015-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2015-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2015-12-31 | No |
| Contributions received in cash from employer | 2015-12-31 | $686,362 |
| Employer contributions (assets) at end of year | 2015-12-31 | $0 |
| Employer contributions (assets) at beginning of year | 2015-12-31 | $23,638 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2015-12-31 | $1,232,446 |
| Contract administrator fees | 2015-12-31 | $53,599 |
| Did the plan have assets held for investment | 2015-12-31 | 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 | 2015-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2015-12-31 | No |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2015-12-31 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2015-12-31 | Disclaimer |
| Accountancy firm name | 2015-12-31 | YOUNT, HYDE & BARBOUR, P.C. |
| Accountancy firm EIN | 2015-12-31 | 541149263 |
| 2014 : MONARCH BANK RETIREMENT PLAN 2014 401k financial data | ||
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2014-12-31 | $0 |
| Total income from all sources (including contributions) | 2014-12-31 | $5,404,848 |
| Total of all expenses incurred | 2014-12-31 | $1,644,163 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2014-12-31 | $1,554,142 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2014-12-31 | $3,579,984 |
| Value of total assets at end of year | 2014-12-31 | $25,379,532 |
| Value of total assets at beginning of year | 2014-12-31 | $21,618,847 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2014-12-31 | $90,021 |
| Total dividends received (eg from common stock, registered investment company shares) | 2014-12-31 | $1,148,205 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2014-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2014-12-31 | $1,148,205 |
| Administrative expenses professional fees incurred | 2014-12-31 | $90,021 |
| Was this plan covered by a fidelity bond | 2014-12-31 | Yes |
| Value of fidelity bond cover | 2014-12-31 | $8,000,000 |
| 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 | $2,615,773 |
| Participant contributions at end of year | 2014-12-31 | $69,242 |
| Participant contributions at beginning of year | 2014-12-31 | $60,627 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2014-12-31 | $73,318 |
| Total non interest bearing cash at beginning of year | 2014-12-31 | $0 |
| 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 | $3,760,685 |
| Value of net assets at end of year (total assets less liabilities) | 2014-12-31 | $25,379,532 |
| Value of net assets at beginning of year (total assets less liabilities) | 2014-12-31 | $21,618,847 |
| 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 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2014-12-31 | $25,286,652 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2014-12-31 | $21,537,905 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2014-12-31 | $676,659 |
| 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 |
| Contributions received in cash from employer | 2014-12-31 | $890,893 |
| Employer contributions (assets) at end of year | 2014-12-31 | $23,638 |
| Employer contributions (assets) at beginning of year | 2014-12-31 | $20,315 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2014-12-31 | $1,554,142 |
| 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 |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2014-12-31 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2014-12-31 | Disclaimer |
| Accountancy firm name | 2014-12-31 | YOUNT, HYDE & BARBOUR, P.C. |
| Accountancy firm EIN | 2014-12-31 | 541149263 |
| 2013 : MONARCH BANK RETIREMENT PLAN 2013 401k financial data | ||
| Total unrealized appreciation/depreciation of assets | 2013-12-31 | $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 | $2,106 |
| Total income from all sources (including contributions) | 2013-12-31 | $8,345,682 |
| Total loss/gain on sale of assets | 2013-12-31 | $0 |
| Total of all expenses incurred | 2013-12-31 | $1,605,132 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2013-12-31 | $1,544,704 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2013-12-31 | $3,798,798 |
| Value of total assets at end of year | 2013-12-31 | $21,618,847 |
| Value of total assets at beginning of year | 2013-12-31 | $14,880,403 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2013-12-31 | $60,428 |
| Total interest from all sources | 2013-12-31 | $0 |
| Total dividends received (eg from common stock, registered investment company shares) | 2013-12-31 | $565,126 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2013-12-31 | $565,126 |
| Was this plan covered by a fidelity bond | 2013-12-31 | Yes |
| Value of fidelity bond cover | 2013-12-31 | $8,000,000 |
| 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 | $2,746,491 |
| Participant contributions at end of year | 2013-12-31 | $60,627 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2013-12-31 | $149,562 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2013-12-31 | $456 |
| Other income not declared elsewhere | 2013-12-31 | $41,871 |
| Liabilities. Value of operating payables at beginning of year | 2013-12-31 | $1,650 |
| Total non interest bearing cash at end of year | 2013-12-31 | $0 |
| Total non interest bearing cash at beginning of year | 2013-12-31 | $8,574 |
| 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 | $6,740,550 |
| Value of net assets at end of year (total assets less liabilities) | 2013-12-31 | $21,618,847 |
| Value of net assets at beginning of year (total assets less liabilities) | 2013-12-31 | $14,878,297 |
| 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 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2013-12-31 | $12,951,842 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2013-12-31 | $9,430,814 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2013-12-31 | $2,069,567 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2013-12-31 | $1,532,519 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2013-12-31 | $1,532,519 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2013-12-31 | $0 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2013-12-31 | $3,939,887 |
| 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 | $6,516,496 |
| Assets. Invements in employer securities at beginning of year | 2013-12-31 | $3,908,496 |
| Contributions received in cash from employer | 2013-12-31 | $902,745 |
| Employer contributions (assets) at end of year | 2013-12-31 | $20,315 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2013-12-31 | $1,544,704 |
| Contract administrator fees | 2013-12-31 | $60,428 |
| 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 |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2013-12-31 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2013-12-31 | Disclaimer |
| Accountancy firm name | 2013-12-31 | YOUNT, HYDE & BARBOUR, P.C. |
| Accountancy firm EIN | 2013-12-31 | 541149263 |
| 2012 : MONARCH BANK RETIREMENT PLAN 2012 401k financial data | ||
| Total unrealized appreciation/depreciation of assets | 2012-12-31 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2012-12-31 | $2,106 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2012-12-31 | $200 |
| Total income from all sources (including contributions) | 2012-12-31 | $5,442,001 |
| Total loss/gain on sale of assets | 2012-12-31 | $0 |
| Total of all expenses incurred | 2012-12-31 | $655,035 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2012-12-31 | $562,029 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2012-12-31 | $3,512,280 |
| Value of total assets at end of year | 2012-12-31 | $14,880,403 |
| Value of total assets at beginning of year | 2012-12-31 | $10,091,531 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2012-12-31 | $93,006 |
| Total interest from all sources | 2012-12-31 | $241 |
| Total dividends received (eg from common stock, registered investment company shares) | 2012-12-31 | $146,068 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2012-12-31 | $129,037 |
| Was this plan covered by a fidelity bond | 2012-12-31 | Yes |
| Value of fidelity bond cover | 2012-12-31 | $8,000,000 |
| 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 | $2,536,563 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2012-12-31 | $70,694 |
| Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2012-12-31 | $456 |
| Administrative expenses (other) incurred | 2012-12-31 | $985 |
| Liabilities. Value of operating payables at end of year | 2012-12-31 | $1,650 |
| Liabilities. Value of operating payables at beginning of year | 2012-12-31 | $200 |
| Total non interest bearing cash at end of year | 2012-12-31 | $8,574 |
| Total non interest bearing cash at beginning of year | 2012-12-31 | $60,089 |
| 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 | $4,786,966 |
| Value of net assets at end of year (total assets less liabilities) | 2012-12-31 | $14,878,297 |
| Value of net assets at beginning of year (total assets less liabilities) | 2012-12-31 | $10,091,331 |
| 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 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2012-12-31 | $9,430,814 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2012-12-31 | $6,357,729 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2012-12-31 | $1,532,519 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2012-12-31 | $1,262,160 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2012-12-31 | $1,262,160 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2012-12-31 | $241 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2012-12-31 | $1,783,412 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2012-12-31 | No |
| 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 | $3,908,496 |
| Assets. Invements in employer securities at beginning of year | 2012-12-31 | $2,411,553 |
| Contributions received in cash from employer | 2012-12-31 | $905,023 |
| Income. Dividends from common stock | 2012-12-31 | $17,031 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2012-12-31 | $562,029 |
| Contract administrator fees | 2012-12-31 | $92,021 |
| 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 |
| Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2012-12-31 | Yes |
| Opinion of an independent qualified public accountant for this plan | 2012-12-31 | Disclaimer |
| Accountancy firm name | 2012-12-31 | YOUNT, HYDE & BARBOUR, P.C |
| Accountancy firm EIN | 2012-12-31 | 541149263 |
| 2011 : MONARCH BANK RETIREMENT PLAN 2011 401k financial data | ||
| Unrealized appreciation/depreciation of other (non real estate) assets | 2011-12-31 | $-39,110 |
| Total unrealized appreciation/depreciation of assets | 2011-12-31 | $-39,110 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2011-12-31 | $200 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2011-12-31 | $131,817 |
| Total income from all sources (including contributions) | 2011-12-31 | $2,527,973 |
| Total loss/gain on sale of assets | 2011-12-31 | $0 |
| Total of all expenses incurred | 2011-12-31 | $850,069 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2011-12-31 | $803,545 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2011-12-31 | $2,766,434 |
| Value of total assets at end of year | 2011-12-31 | $10,091,531 |
| Value of total assets at beginning of year | 2011-12-31 | $8,545,244 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2011-12-31 | $46,524 |
| Total interest from all sources | 2011-12-31 | $190 |
| Total dividends received (eg from common stock, registered investment company shares) | 2011-12-31 | $133,928 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2011-12-31 | $84,286 |
| Was this plan covered by a fidelity bond | 2011-12-31 | Yes |
| Value of fidelity bond cover | 2011-12-31 | $8,000,000 |
| If this is an individual account plan, was there a blackout period | 2011-12-31 | No |
| Were there any nonexempt tranactions with any party-in-interest | 2011-12-31 | No |
| Contributions received from participants | 2011-12-31 | $1,859,447 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2011-12-31 | $251,628 |
| Liabilities. Value of operating payables at end of year | 2011-12-31 | $200 |
| Liabilities. Value of operating payables at beginning of year | 2011-12-31 | $131,817 |
| Total non interest bearing cash at end of year | 2011-12-31 | $60,089 |
| Total non interest bearing cash at beginning of year | 2011-12-31 | $55,151 |
| 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 | $1,677,904 |
| Value of net assets at end of year (total assets less liabilities) | 2011-12-31 | $10,091,331 |
| Value of net assets at beginning of year (total assets less liabilities) | 2011-12-31 | $8,413,427 |
| 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 end of year | 2011-12-31 | $6,357,729 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2011-12-31 | $5,428,984 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2011-12-31 | $1,262,160 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2011-12-31 | $869,520 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2011-12-31 | $869,520 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2011-12-31 | $190 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2011-12-31 | $-333,469 |
| 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 | $2,411,553 |
| Assets. Invements in employer securities at beginning of year | 2011-12-31 | $2,191,589 |
| Contributions received in cash from employer | 2011-12-31 | $655,359 |
| Income. Dividends from common stock | 2011-12-31 | $49,642 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2011-12-31 | $803,545 |
| Contract administrator fees | 2011-12-31 | $46,524 |
| 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 |
| 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 | DIXON HUGHES GOODMAN LLP |
| Accountancy firm EIN | 2011-12-31 | 560747981 |
| 2010 : MONARCH BANK RETIREMENT PLAN 2010 401k financial data | ||
| Unrealized appreciation/depreciation of other (non real estate) assets | 2010-12-31 | $333,590 |
| Total unrealized appreciation/depreciation of assets | 2010-12-31 | $333,590 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2010-12-31 | $131,817 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2010-12-31 | $169 |
| Total income from all sources (including contributions) | 2010-12-31 | $3,423,123 |
| Total loss/gain on sale of assets | 2010-12-31 | $0 |
| Total of all expenses incurred | 2010-12-31 | $245,711 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2010-12-31 | $216,865 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2010-12-31 | $2,399,095 |
| Value of total assets at end of year | 2010-12-31 | $8,545,244 |
| Value of total assets at beginning of year | 2010-12-31 | $5,236,184 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2010-12-31 | $28,846 |
| Total interest from all sources | 2010-12-31 | $151 |
| Total dividends received (eg from common stock, registered investment company shares) | 2010-12-31 | $131,728 |
| Total dividends received from registered investment company shares (eg mutual funds) | 2010-12-31 | $97,165 |
| Was this plan covered by a fidelity bond | 2010-12-31 | Yes |
| Value of fidelity bond cover | 2010-12-31 | $20,000 |
| 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 | $1,661,628 |
| Income. Received or receivable in cash from other sources (including rollovers) | 2010-12-31 | $148,247 |
| Administrative expenses (other) incurred | 2010-12-31 | $540 |
| Liabilities. Value of operating payables at end of year | 2010-12-31 | $131,817 |
| Liabilities. Value of operating payables at beginning of year | 2010-12-31 | $169 |
| Total non interest bearing cash at end of year | 2010-12-31 | $55,151 |
| Total non interest bearing cash at beginning of year | 2010-12-31 | $12,801 |
| 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 | $3,177,412 |
| Value of net assets at end of year (total assets less liabilities) | 2010-12-31 | $8,413,427 |
| Value of net assets at beginning of year (total assets less liabilities) | 2010-12-31 | $5,236,015 |
| 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 | $5,428,984 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2010-12-31 | $3,411,590 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2010-12-31 | $869,520 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2010-12-31 | $611,203 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2010-12-31 | $611,203 |
| Interest earned from interest bearing cash (including money market accounts and certificates of deposit) | 2010-12-31 | $151 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2010-12-31 | $558,559 |
| 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 | $2,191,589 |
| Assets. Invements in employer securities at beginning of year | 2010-12-31 | $1,200,590 |
| Contributions received in cash from employer | 2010-12-31 | $589,220 |
| Income. Dividends from common stock | 2010-12-31 | $34,563 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2010-12-31 | $216,865 |
| Contract administrator fees | 2010-12-31 | $28,306 |
| 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 | DIXON HUGHES GOODMAN LLP |
| Accountancy firm EIN | 2010-12-31 | 560747981 |
| 2009 : MONARCH BANK RETIREMENT 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 |
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