Plan Snapshot
- Plan Sponsor: Gate City Bank
- Sponsor EIN: 450138060
- Sponsor Address: 500 2ND AVE N, FARGO, ND, 58102
- Plan Type: 401(k)
- Plan Number: 003
- Total Participants: 930
- Total Assets: $99.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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. |
|---|---|---|---|---|
| 2025 | 930 | $99.0M | $0 | $0 |
| 2024 | 803 | $79.7M | $2.6M | $3.8M |
| 2023 | 755 | $69.2M | $2.5M | $3.6M |
| 2022 | 768 | $53.7M | $2.6M | $3.6M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | Recordkeeper | $53,711 | — | $53,711 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $53,711
- Estimated Expense Ratio: 0.054% of plan assets
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 |
|---|---|---|---|---|---|
| 2025 | $3,570,719 | — | — | — | — |
| 2024 | $43,481 | — | — | — | — |
| 2023 | $36,998 | — | — | — | — |
| 2022 | $19,302 | — | — | — | — |