Plan Snapshot
- Plan Sponsor: Mvb Bank, INC.
- Sponsor EIN: 550755205
- Sponsor Address: 301 VIRGINIA AVE., FAIRMONT, WV, 26554
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 640
- Total Assets: $47.1M
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 | 640 | $47.1M | $0 | $0 |
| 2024 | 445 | $41.3M | $1.9M | $3.6M |
| 2023 | 82 | $10.4M | $0 | $0 |
| 2022 | 86 | $9.1M | $0 | $0 |
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 | $79,229 | — | $79,229 |
| WEALTHSPIRE RETIREMENT ADVISORY | Investment Advisor | $78,947 | — | $78,947 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $158,176
- Estimated Expense Ratio: 0.336% 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 | $6,335,823 | $78,947 | — | — | — |
| 2024 | $152,668 | $72,029 | — | — | — |
| 2023 | $157,784 | $45,964 | $8,061 | — | — |
| 2022 | $222,925 | $45,223 | $7,253 | — | $23,428 |