Plan Snapshot
- Plan Sponsor: Hometown Bancshares, INC.
- Sponsor EIN: 550757685
- Sponsor Address: 103 DODD STREET, MIDDLEBOURNE, WV, 26149
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 92
- Total Assets: $9.5M
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: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 92 | $9.5M | $0 | $0 |
| 2024 | 57 | $8.9M | $220,569 | $150,481 |
| 2023 | 58 | $7.9M | $241,685 | $149,015 |
| 2022 | 57 | $8.3M | $202,828 | $156,364 |
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 |
|---|---|---|---|---|
| NATIONWIDE | Insurance Carrier | $14,827 | — | $14,827 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $14,827
- Estimated Expense Ratio: 0.156% 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 | $707,733 | — | — | — | — |
| 2024 | $285,212 | — | — | — | — |
| 2023 | $1,655,720 | — | — | — | — |
| 2022 | $1,530,880 | — | — | — | — |