Southern States Bank 401(K) Plan — Form 5500 plan (Nab LLC Dba Southern States Bank)
Plain-English plan 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, Southern States Bank 401(K) Plan is a benefit plan reported by Nab LLC Dba Southern States Bank under EIN 20-8866792 and plan number 001. The latest loaded filing year is 2023. The filing reports 204 participants and $12,426,125 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Nab LLC Dba Southern States Bank
- EIN
- 20-8866792
- Plan number
- 001
- Plan type
- 2
- Location
- Birmingham, AL
- Latest filing year
- 2023
- Participants
- 204
- End-of-year plan assets
- $12,426,125
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 204 | H, C | 20241001155355NAL0003432739001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $12,426,125
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $12,426,125
- Net assets (BOY)
- $10,047,995
Income & contributions
- Employer contributions
- $684,177
- Participant contributions
- $1,159,212
- Total contributions
- $2,416,249
- Total income / additions
- $4,296,875
Expenses & distributions
- Benefits paid
- $1,820,513
- Administrative expenses
- $98,232
- Total expenses
- $1,918,745
- Net increase / (decrease)
- $2,378,130
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $98,232 | $0 | 2023 |
| Concourse Financial Group Securitie | OTHER SERVICES | $0 | $32,780 | 2023 |