2023 Form 5500 filing — Verabank, Inc. 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 20241007122447NAL0007564531001) for Verabank, Inc. 401(K) Employee Stock Ownership Plan, reported by Verabank, Inc. under EIN 75-2371232 and plan number 001. It reports 746 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241007122447NAL0007564531001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Verabank, Inc.
- EIN
- 75-2371232
- Plan number
- 001
- Location
- Henderson, TX
- Participants
- 746
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $75,886,786
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $75,886,786
- Employer contributions
- $2,553,362
- Participant contributions
- $3,140,142
- Total income / additions
- $16,279,076
- Benefits paid
- $5,743,609
- Administrative expenses
- $103,266
- Total expenses
- $5,846,875
- Net increase / (decrease)
- $10,432,201
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $103,265 | $9,593 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 |