Independent Financial 401(K) Profit Sharing Plan — Form 5500 plan (Independent 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, Independent Financial 401(K) Profit Sharing Plan is a benefit plan reported by Independent Bank under EIN 75-2694563 and plan number 001. The latest loaded filing year is 2023. The filing reports 1,876 participants and $118,215,103 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Independent Bank
- EIN
- 75-2694563
- Plan number
- 001
- Plan type
- 2
- Location
- Mckinney, TX
- Latest filing year
- 2023
- Participants
- 1,876
- End-of-year plan assets
- $118,215,103
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 1,876 | H, C | 20240715121007NAL0001231169001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $118,215,103
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $118,215,103
- Net assets (BOY)
- $105,300,508
Income & contributions
- Employer contributions
- $7,696,322
- Participant contributions
- $10,897,510
- Total contributions
- $20,803,740
- Total income / additions
- $37,012,243
Expenses & distributions
- Benefits paid
- $23,827,869
- Administrative expenses
- $256,086
- Total expenses
- $24,097,648
- Net increase / (decrease)
- $12,914,595
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $255,380 | $0 | 2023 |
| Ubs Financial Services Inc | INVESTMENT ADVISORY | $0 | $86,145 | 2023 |
| Fidelity Investments Institutional | RECORDKEEPER | $706 | $0 | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Independent Bank
- 2023 Form 5500 filing
- Form 5500 filings in TX
- 401(k) and benefit plan filings in Mckinney, TX
- Principal Life Insurance Company — Schedule C compensation
- Ubs Financial Services Inc — Schedule C compensation
- Fidelity Investments Institutional — Schedule C compensation