Plan Snapshot
- Plan Sponsor: First Metro Bank
- Sponsor EIN: 630980487
- Sponsor Address: 406 AVALON AVE, MUSCLE SHOALS, AL, 356612808
- Plan Type: 401(k)
- Total Participants: 115
- Total Assets: $12.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 115 | $12.6M | $247,438 | $549,909 |
| 2023 | 111 | $12.7M | $247,383 | $547,492 |
| 2022 | 104 | $11.4M | $238,763 | $526,683 |
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 |
|---|---|---|---|---|
| MAULDIN & JENKINS, LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MAULDIN & JENKINS, LLC — Auditor
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 | $42,624 | — | $42,624 | — | — |
| 2023 | $6,427 | — | $6,427 | — | — |
| 2022 | $4,417 | — | $4,417 | — | — |