1st National Bank of South Florida Employee Profit Sharing Plan

Company:

1st National Bank of South Florida

Plan:

1st National Bank of South Florida Employee Profit Sharing Plan

Plan Information
Plan Year	01/01/2010 — 12/31/2010
Effective Date of Plan	01/01/1995
Net Assets as of 12/31/2010	$3,035,336
Plan Number	1
Plan Type	Single Employer
Did the plan file for an extension of time or the DFVC Program?	Yes

Participant Information as of 12/31/2010
Total	97
Total number of participants as of 01/01/2010	99
Number of participants with account balances	84

Financial Information as of 12/31/2010
Total Assets (EOY)	$3,035,336
Total Liabilities (EOY)	$0
Net Assets (EOY)	$3,035,336
Financial Information as of 01/01/2010
Total Assets (BOY)	$2,896,999
Total Liabilities (BOY)	$0
Net Assets (BOY)	$2,896,999
Income
Cash from Employers	$9,047
Cash from Participants	$167,057
Others (including rollovers)	$816
Other Income	$341,462
Total Income	$518,382
Net Income	$138,337
Expenses
Total Benefit Payments	$361,439
Corrective Distributions	$0
Administrative Service Providers	$18,606
Other Expenses	$0
Total Expenses	$380,045
Total Transfers	$0

Plan Sponsor Information
Address	1550 N Krome Ave Homestead, FL 33030 -3233
Telephone	(305) 242-8632
EIN	59-0295205
Industry Code	522110
Named Administrator	Robert Ares
Named Plan Sponsor	Robert Ares

Plan Administrator Information
Administrator Name	1st National Bank of South Florida
Address	1550 N Krome Ave Homestead, FL 33030 -3233
Telephone	(305) 242-8632
Administrator EIN	59-0295205

Benefits Provided Under the Plan
Code	Benefit	Description
2E	Profit-sharing	A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F	ERISA section 404(c) Plan	This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G	Total participant-directed account plan	Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J	Code section 401(k) feature	A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K	Code section 401(m) arrangement	Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2T	Participant-directed Account	Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D	Master plan	A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

Question		Answer	Amount
1.	During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102?	No
2.	Were there any nonexempt transactions with any party-in-interest?	No
3.	Was this plan covered by a fidelity bond?	Yes	$3,000,000
4.	Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty?	No
5.	Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC?	No
6.	Has the plan failed to provide any benefit when due under the plan?	No
7.	If this is an individual account plan, was there a blackout period?	No
8.	If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3?