FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN

Plan Contact

Address: 300 E SUGARLAND HWY,CLEWISTON,FL
Contact person: NILDA SPARKS
Phone: (863) 983-8191

Plan General Information

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Total Retirement Plan Assets

At the end of 2022, the total retirement plan assets of FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is $9,368,527.00.This plan was established in 1990.

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Total Number of Retirement Plan Participants

At the end of 2022, the total number of retirement plan participants in FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is 144

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2022, the average participant retirement account value for FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is $65,059.00

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2022, the estimated average employee contribution amount per participant for FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is $1,902.00.

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Estimated Average Employer Match

In 2022, the estimated average employer match for an employee in FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is approximately $3,153.00
Investing in this additonal $3,153.00 for 20 years would give you extra $201,842.00, assuming a 10% annual return.

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2022, FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN allocates $454,145.00 to match its employees' contributions, providing an employer match rate of 169.93% of their contributions

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Total Retirement Plan Asset Growth Rate

In 2022, the total retirement plan asset growth rate of FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is -7.65%.

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Estimated Aggregate Retirement Account Investment Gain/Loss

In 2022, the estimated aggregate retirement account investment gain/loss for FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is 2.92%. This measures the effectiveness of the plan participants' investments in the year.

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN Expense Ratio

In 2022, the investment and administrative expense ratio of FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN is 0.28%.

Enrollment Features

FIRST BANK OF CLEWISTON ESOP &401(K) PROFIT SHARING PLAN has the following features:
Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.

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