# Western Bank 401(k) Plan
Source: https://planprovider.pro/companies/western-bank-401k-plan

> Western Bank's 401(k) plan: 119 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Western Bank

- **Sponsor EIN:** 740962510

- **Sponsor Address:** 1617 BROADWAY, LUBBOCK, TX, 79401

- **Plan Type:** 401(k)

- **Total Participants:** 119

- **Total Assets:** $10.3M

## 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.|

| 2024|119|$10.3M|$338,420|$521,425|

| 2023|126|$7.9M|$270,202|$420,246|

| 2022|105|$6.4M|$236,039|$376,178|

## 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|

| EMPOWER ANNUITY INSURANCE COMPANY O|RECORDKEEPER|$31,273|—|$31,273|

| COMMERCE STREET INVESTMENT ADVISOR|INVESTMENT ADVISOR|$23,824|—|$23,824|

| WHITLEY PENN LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [WHITLEY PENN LLP](https://planprovider.pro/provider/whitley-penn-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $55,097

- **Estimated Expense Ratio:** 0.537% 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|

| 2024|$53,868|$23,824|—|—|—|

| 2023|—|—|—|—|—|

| 2022|—|—|—|—|—|

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