Hometown Bank 401k Plan — Form 5500 plan (Hometown 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, Hometown Bank 401k Plan is a benefit plan reported by Hometown Bank under EIN 41-0498480 and plan number 002. The latest loaded filing year is 2023. The filing reports 154 participants and $12,611,567 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Hometown Bank
- EIN
- 41-0498480
- Plan number
- 002
- Plan type
- 2
- Location
- Redwood Falls, MN
- Latest filing year
- 2023
- Participants
- 154
- End-of-year plan assets
- $12,611,567
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 154 | H, C | 20240730144752NAL0011944035001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $12,611,567
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $12,611,567
- Net assets (BOY)
- $10,341,541
Income & contributions
- Employer contributions
- $403,211
- Participant contributions
- $696,415
- Total contributions
- $1,391,237
- Total income / additions
- $3,169,764
Expenses & distributions
- Benefits paid
- $898,786
- Administrative expenses
- $952
- Total expenses
- $899,738
- Net increase / (decrease)
- $2,270,026
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| American United Life Insurance Co | NONE | $1,027 | $0 | 2023 |