Highpoint Community Bank Profit Sharing Plan — Form 5500 plan (Highpoint Community 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, Highpoint Community Bank Profit Sharing Plan is a benefit plan reported by Highpoint Community Bank under EIN 38-0633620 and plan number 002. The latest loaded filing year is 2023. The filing reports 114 participants and $17,631,353 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Highpoint Community Bank
- EIN
- 38-0633620
- Plan number
- 002
- Plan type
- 2
- Location
- Hasting, MI
- Latest filing year
- 2023
- Participants
- 114
- End-of-year plan assets
- $17,631,353
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 114 | H, C | 20240725164131NAL0014509745001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $17,631,353
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $17,631,353
- Net assets (BOY)
- $16,757,395
Income & contributions
- Employer contributions
- $394,623
- Participant contributions
- $454,653
- Total contributions
- $871,833
- Total income / additions
- $2,952,086
Expenses & distributions
- Benefits paid
- $2,051,671
- Administrative expenses
- $26,457
- Total expenses
- $2,078,128
- Net increase / (decrease)
- $873,958
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Transamerica Retirement Solutions | RECORDKEEPER | $22,847 | $0 | 2023 |
| Mesirow Financial, Inc. | PLAN INVESTMENT ADVISORY | $1,807 | not reported in the loaded dataset | 2023 |
| Watkins Ross & Co. | RECORDKEEPER | $838 | $0 | 2023 |