2023 Form 5500 filing — South Atlantic Bank 401(K) Employee Stock Ownership Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240925161212NAL0014620673001) for South Atlantic Bank 401(K) Employee Stock Ownership Plan, reported by South Atlantic Bank under EIN 26-1366826 and plan number 001. It reports 157 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240925161212NAL0014620673001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- South Atlantic Bank
- EIN
- 26-1366826
- Plan number
- 001
- Location
- Myrtle Beach, SC
- Participants
- 157
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $18,712,859
- Total liabilities (EOY)
- $53,882
- Net assets (EOY)
- $18,658,977
- Employer contributions
- $655,854
- Participant contributions
- $986,157
- Total income / additions
- $4,450,621
- Benefits paid
- $285,634
- Administrative expenses
- $5,161
- Total expenses
- $290,795
- Net increase / (decrease)
- $4,159,826
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Pentegra Services | RECORDKEEPER | $5,161 | $0 |