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, Verabank, Inc. 401(K) Employee Stock Ownership Plan is a benefit plan reported by Verabank, Inc. under EIN 75-2371232 and plan number 001. The latest loaded filing year is 2023. The filing reports 746 participants and $75,886,786 in end-of-year plan assets, where available in the loaded dataset.
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $75,886,786
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $75,886,786
- Net assets (BOY)
- $65,454,585
Income & contributions
- Employer contributions
- $2,553,362
- Participant contributions
- $3,140,142
- Total contributions
- $7,575,710
- Total income / additions
- $16,279,076
Expenses & distributions
- Benefits paid
- $5,743,609
- Administrative expenses
- $103,266
- Total expenses
- $5,846,875
- Net increase / (decrease)
- $10,432,201