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THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE CITIZENS BANK 401(K) PROFIT SHARING PLAN
Plan identification number 002

THE CITIZENS BANK 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.
  • 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.

401k Sponsoring company profile

THE CITIZENS BANK has sponsored the creation of one or more 401k plans.

Company Name:THE CITIZENS BANK
Employer identification number (EIN):630245356
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE CITIZENS BANK 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022022-01-01KELLY F JONES2023-07-11 KELLY F JONES2023-07-11
0022021-01-01KELLY F JONES2022-06-09 KELLY F JONES2022-06-09
0022020-01-01KELLY F JONES2021-06-29 KELLY F JONES2021-06-29
0022019-01-01KELLY F JONES2020-07-06
0022018-01-01KAREN N BURNETT2019-05-13
0022017-01-01KAREN N BURNETT2018-05-21 KAREN N BURNETT2018-05-21
0022016-01-01KAREN N BURNETT2017-09-20 KAREN N BURNETT2017-09-20
0022015-01-01KAREN N BURNETT2016-10-07 KAREN N BURNETT2016-10-07
0022014-01-01KAREN BURNETT KAREN BURNETT2015-07-27
0022013-01-01KAREN BURNETT KAREN BURNETT2014-07-07
0022012-01-01KAREN BURNETT KAREN BURNETT2013-09-05
0022011-01-01KAREN BURNETT KAREN BURNETT2012-09-04
0022009-01-01LARRY TINDOL LARRY TINDOL2010-08-26

Plan Statistics for THE CITIZENS BANK 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for THE CITIZENS BANK 401(K) PROFIT SHARING PLAN

Measure Date Value
2014: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2014 401k membership
Total participants, beginning-of-year2014-01-0129
Total number of active participants reported on line 7a of the Form 55002014-01-0131
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-010
Total of all active and inactive participants2014-01-0131
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0131
Number of participants with account balances2014-01-0131
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2013 401k membership
Total participants, beginning-of-year2013-01-0127
Total number of active participants reported on line 7a of the Form 55002013-01-0129
Number of retired or separated participants receiving benefits2013-01-010
Number of other retired or separated participants entitled to future benefits2013-01-010
Total of all active and inactive participants2013-01-0129
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-010
Total participants2013-01-0129
Number of participants with account balances2013-01-0129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-0124
Total number of active participants reported on line 7a of the Form 55002012-01-0127
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-010
Total of all active and inactive participants2012-01-0127
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-0127
Number of participants with account balances2012-01-0127
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0125
Total number of active participants reported on line 7a of the Form 55002011-01-0124
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-0124
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0124
Number of participants with account balances2011-01-0124
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2009: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0136
Total number of active participants reported on line 7a of the Form 55002009-01-0128
Number of retired or separated participants receiving benefits2009-01-011
Number of other retired or separated participants entitled to future benefits2009-01-013
Total of all active and inactive participants2009-01-0132
Total participants2009-01-0132
Number of participants with account balances2009-01-0132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on THE CITIZENS BANK 401(K) PROFIT SHARING PLAN

Measure Date Value
2014 : THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2014 401k financial data
Transfers to/from the plan2014-12-31$209
Total income from all sources2014-12-31$202,412
Expenses. Total of all expenses incurred2014-12-31$2,424
Benefits paid (including direct rollovers)2014-12-31$2,334
Total plan assets at end of year2014-12-31$1,785,529
Total plan assets at beginning of year2014-12-31$1,585,332
Total contributions received or receivable from participants2014-12-31$85,447
Other income received2014-12-31$53,797
Net income (gross income less expenses)2014-12-31$199,988
Net plan assets at end of year (total assets less liabilities)2014-12-31$1,785,529
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$1,585,332
Total contributions received or receivable from employer(s)2014-12-31$63,168
Expenses. Administrative service providers (salaries,fees and commissions)2014-12-31$90
2013 : THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2013 401k financial data
Total income from all sources2013-12-31$326,115
Expenses. Total of all expenses incurred2013-12-31$485,395
Benefits paid (including direct rollovers)2013-12-31$485,245
Total plan assets at end of year2013-12-31$1,585,332
Total plan assets at beginning of year2013-12-31$1,744,612
Total contributions received or receivable from participants2013-12-31$163,203
Other income received2013-12-31$95,663
Net income (gross income less expenses)2013-12-31$-159,280
Net plan assets at end of year (total assets less liabilities)2013-12-31$1,585,332
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$1,744,612
Total contributions received or receivable from employer(s)2013-12-31$67,249
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$150
2012 : THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2012 401k financial data
Total income from all sources2012-12-31$315,219
Expenses. Total of all expenses incurred2012-12-31$446,197
Benefits paid (including direct rollovers)2012-12-31$445,462
Total plan assets at end of year2012-12-31$1,726,717
Total plan assets at beginning of year2012-12-31$1,857,695
Total contributions received or receivable from participants2012-12-31$110,981
Other income received2012-12-31$122,304
Net income (gross income less expenses)2012-12-31$-130,978
Net plan assets at end of year (total assets less liabilities)2012-12-31$1,726,717
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$1,857,695
Total contributions received or receivable from employer(s)2012-12-31$81,934
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$735
2011 : THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2011 401k financial data
Total income from all sources2011-12-31$158,889
Expenses. Total of all expenses incurred2011-12-31$395,233
Benefits paid (including direct rollovers)2011-12-31$394,788
Total plan assets at end of year2011-12-31$1,857,695
Total plan assets at beginning of year2011-12-31$2,094,039
Total contributions received or receivable from participants2011-12-31$87,309
Other income received2011-12-31$19,586
Net income (gross income less expenses)2011-12-31$-236,344
Net plan assets at end of year (total assets less liabilities)2011-12-31$1,857,695
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$2,094,039
Total contributions received or receivable from employer(s)2011-12-31$51,994
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$445
2010 : THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2010 401k financial data
Transfers to/from the plan2010-12-31$0
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$490,280
Expenses. Total of all expenses incurred2010-12-31$2,007,173
Benefits paid (including direct rollovers)2010-12-31$2,007,173
Total plan assets at end of year2010-12-31$2,094,039
Total plan assets at beginning of year2010-12-31$3,610,932
Total contributions received or receivable from participants2010-12-31$122,605
Expenses. Other expenses not covered elsewhere2010-12-31$0
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$295,895
Noncash contributions received2010-12-31$0
Net income (gross income less expenses)2010-12-31$-1,516,893
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,094,039
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$3,610,932
Assets. Value of participant loans2010-12-31$9,121
Total contributions received or receivable from employer(s)2010-12-31$71,780
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$0
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for THE CITIZENS BANK 401(K) PROFIT SHARING PLAN

2014: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Plan funding arrangement – InsuranceYes
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement – InsuranceYes
2014-01-01Plan benefit arrangement - TrustYes
2013: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Plan funding arrangement – InsuranceYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement – InsuranceYes
2013-01-01Plan benefit arrangement - TrustYes
2012: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedYes
2012-01-01Plan funding arrangement – InsuranceYes
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement – InsuranceYes
2012-01-01Plan benefit arrangement - TrustYes
2011: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – InsuranceYes
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement – InsuranceYes
2011-01-01Plan benefit arrangement - TrustYes
2009: THE CITIZENS BANK 401(K) PROFIT SHARING PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRUDENTIAL ANNUITIES SERVICE (National Association of Insurance Commissioners NAIC id number: 68241 )
Policy contract numberPFS3134
Policy instance 1
Insurance contract or identification numberPFS3134
Number of Individuals Covered2
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $7,956
Are there contracts with allocated funds for individual policies?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $7,956
Insurance broker namePRUDENTIAL
AXA EQUITABLE LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 66944 )
Policy contract number312 049 883
Policy instance 2
Insurance contract or identification number312 049 883
Number of Individuals Covered1
Insurance policy start date2014-01-01
Insurance policy end date2014-12-31
Total amount of commissions paid to insurance brokerUSD $339
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $339
Insurance broker nameAXA EQUITABLE
PRUDENTIAL ANNUITIES SERVICE (National Association of Insurance Commissioners NAIC id number: 68241 )
Policy contract numberPFS3134
Policy instance 1
Insurance contract or identification numberPFS3134
Number of Individuals Covered2
Insurance policy start date2013-01-01
Insurance policy end date2013-12-31
Total amount of commissions paid to insurance brokerUSD $12,281
Are there contracts with allocated funds for individual policies?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $12,281
Insurance broker namePRUDENTIAL
PRUDENTIAL ANNUITIES SERVICE (National Association of Insurance Commissioners NAIC id number: 68241 )
Policy contract numberPFS3134
Policy instance 1
Insurance contract or identification numberPFS3134
Number of Individuals Covered2
Insurance policy start date2012-01-01
Insurance policy end date2012-12-31
Total amount of commissions paid to insurance brokerUSD $18,118
Are there contracts with allocated funds for individual policies?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $1
Insurance broker namePRUDENTIAL
PRUDENTIAL ANNUITIES SERVICE (National Association of Insurance Commissioners NAIC id number: 68241 )
Policy contract numberPFS3134
Policy instance 1
Insurance contract or identification numberPFS3134
Number of Individuals Covered13
Insurance policy start date2011-01-01
Insurance policy end date2011-12-31
Total amount of commissions paid to insurance brokerUSD $280
Are there contracts with allocated funds for individual policies?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRUDENTIAL ANNUITIES SERVICE (National Association of Insurance Commissioners NAIC id number: 68241 )
Policy contract numberPFS3134
Policy instance 1
Insurance contract or identification numberPFS3134
Number of Individuals Covered16
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of commissions paid to insurance brokerUSD $910
Total amount of fees paid to insurance companyUSD $0
Are there contracts with allocated funds for individual policies?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $910
Amount paid for insurance broker fees0
Insurance broker organization code?3
Insurance broker nameBILLY HASKINS

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