Plan Snapshot
- Plan Sponsor: Evolve Bancorp, INC.
- Sponsor EIN: 710646078
- Sponsor Address: 6000 POPLAR AVENUE, SUITE 300, MEMPHIS, TN, 38119
- Plan Type: 401(k)
- Total Participants: 433
- Total Assets: $21.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 433 | $21.5M | $529,246 | $2.1M |
| 2023 | 420 | $18.5M | $503,468 | $1.9M |
| 2022 | 437 | $14.8M | $460,966 | $2.0M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| HENDERSON HUTCHERSON AND MCCULLOUGH | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $144,649 | $79,424 | $65,225 | — | — |
| 2023 | $145,673 | $64,874 | $80,799 | — | — |
| 2022 | $124,580 | $56,143 | $68,437 | — | — |