South Atlantic Bank 401(K) Employee Stock Ownership Plan — Form 5500 plan (South Atlantic 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, South Atlantic Bank 401(K) Employee Stock Ownership Plan is a benefit plan reported by South Atlantic Bank under EIN 26-1366826 and plan number 001. The latest loaded filing year is 2023. The filing reports 157 participants and $18,712,859 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- South Atlantic Bank
- EIN
- 26-1366826
- Plan number
- 001
- Plan type
- 2
- Location
- Myrtle Beach, SC
- Latest filing year
- 2023
- Participants
- 157
- End-of-year plan assets
- $18,712,859
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 157 | H, C | 20240925161212NAL0014620673001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $18,712,859
- Total liabilities (EOY)
- $53,882
- Net assets (EOY)
- $18,658,977
- Net assets (BOY)
- $14,499,151
Income & contributions
- Employer contributions
- $655,854
- Participant contributions
- $986,157
- Total contributions
- $1,756,626
- Total income / additions
- $4,450,621
Expenses & distributions
- Benefits paid
- $285,634
- Administrative expenses
- $5,161
- Total expenses
- $290,795
- Net increase / (decrease)
- $4,159,826
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Pentegra Services | RECORDKEEPER | $5,161 | $0 | 2023 |