First Western Bancshares, Inc. Employee Stock Ownership And 401(K) Plan — Form 5500 plan (First Western Bancshares, Inc.)
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, First Western Bancshares, Inc. Employee Stock Ownership And 401(K) Plan is a benefit plan reported by First Western Bancshares, Inc. under EIN 71-0605306 and plan number 002. The latest loaded filing year is 2023. The filing reports 192 participants and $16,507,842 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$16.5MPlan net assets, end of year$16,507,842
Participants192Covered participants reported
Assets / participant$86KComputed: assets ÷ participants$85,978 (computed)
Provider compensation$45.3K3 Schedule C provider row(s)$45,330
- Plan sponsor
- First Western Bancshares, Inc.
- EIN
- 71-0605306
- Plan number
- 002
- Plan type
- 2
- Location
- Booneville, AR
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 192 | H, C | 20241014083103NAL0026820497001 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$16.5M total assets
Net assets$16.5MLiabilities—
Full reported line items
Net assets
- Total assets (EOY)
- $16,507,842
- Net assets (EOY)
- $16,507,842
- Net assets (BOY)
- $15,054,613
Income & contributions
- Employer contributions
- $610,000
- Participant contributions
- $429,028
- Total contributions
- $1,039,028
- Total income / additions
- $2,222,271
Expenses & distributions
- Benefits paid
- $722,225
- Administrative expenses
- $46,817
- Total expenses
- $769,042
- Net increase / (decrease)
- $1,453,229
Computed from reported fields
Reported ratios
Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.
59%41%
Employer 59%Participant 41%
Total expenses ÷ net assets5%Computed ratio
Benefits paid ÷ total income32%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Forvis, Llp | NONE | $26,480 | not reported in the loaded dataset | 2023 |
| Landmark, Plc | NONE | $11,500 | not reported in the loaded dataset | 2023 |
| Stern Brothers Valuation Advisors | NONE | $7,350 | not reported in the loaded dataset | 2023 |