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Home   >   American State Bank Employee Profit Sharing Plan  >  Form 5500
   Basic Info | Financials | Service Providers | Investments | Insurance Information

Company:
American State Bank

Plan:
American State Bank Employee Profit Sharing Plan
Print Complete 5500 Print Complete 5500
 

Plan Information
Plan Year 01/01/2010 — 12/31/2010
Effective Date of Plan 01/01/1966
Net Assets as of 12/31/2010 $21,941,914
Plan Number 1
Plan Type Single Employer
Is the plan collectively bargained? No
Did the plan file for an extension of time or the DFVC Program? Yes
Plan Funding Arrangement Trust
Plan Benefit Arrangement Trust

Participant Information as of 12/31/2010
Active (Eligible) Participants 474
Retired or separated participants receiving benefits 0
Other retired or separated participants entitled to future benefits 61
Subtotal 535
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 1
Total 536
Total number of participants as of 01/01/2010 584
Number of participants with account balances 528
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 32

Plan Sponsor Information
Address 1401 Avenue Q
Lubbock, TX 79408 -1401
Telephone (806) 767-7000
EIN 75-0750523
Industry Code 522110
Named Administrator Jodie Striley

Plan Administrator Information
Administrator Name American State Bank
Address 1401 Avenue Q
Lubbock, TX 79408 -1401
Telephone (806) 767-7000
Administrator EIN 75-0750523

Audit Information
Audit Status Audited
Auditor Bkd, LLP
Auditor EIN 44-0160260
Audit Opinion Unqualified
Audit Type Full Audit

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.
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 any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No  
3. Were any leases to which the plan was a party in default or classified during the year as uncollectible? No  
4. Were there any nonexempt transactions with any party-in-interest? No  
5. Was this plan covered by a fidelity bond? Yes $5,000,000
6. Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No  
7. Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? Yes $2,190,000
8. Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No  
9. Did the plan have assets held for investment? Yes  
10. Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? Yes  
11. Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No  
12. Has the plan failed to provide any benefit when due under the plan? No  
13. If this is an individual account plan, was there a blackout period? No  
14. 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?