How much does Community Bank contribute to its ESOP?

In 2022, employer contributions to the Community Bank plan averaged $1,922 per active participant, above the $331 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Community Bank 401(k)?

The average participant account balance was $9,517 for plan year 2022, based on 87 accounts.

Community BankESOP

Name: Community Bank 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

COMMUNITY BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · COLLEGE PLACE, WA · plan year 2022

Employer contribution per participant · 2022

$1,922

Community Bank's 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $827,981 across 87 participant accounts, with employer contributions averaging $1,922 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the under $1M size bracket, benchmarked here against 4,041 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Washington (1,648th of 1,714), and 4,738th of 4,798 in finance & insurance.

Plan summary
Net assets, end of year$827,981
Participants with balances87
Active participants98
Employer contributions$188,352
Employee contributions—
Employer contribution per active participant$1,922
Average account balance$9,517
Benefits paid to participants$211,299
Plan auditUnmodified (clean) audit opinion
AuditorMOSS ADAMS LLP

Employer contributions to the Community Bank plan · 2022

Employer contribution per active participant$1,922

Median for plans this size$331

Community Bank's 2022 employer contribution ran above the $331 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Similar plansFinance & Insurance · Washington
Community Bank WA$6.0M · 0.56%
National Credit Services, Inc. WA$4.8M · 0.77%
Professional Credit Holding Company WA$3.4M · 0.90%
First Northwest Bancorp WA$2.4M
Tmc Group, LLC CA$879K · 0.01%
Hoosier Investments, LLC IN$865K · 1.21%
Comes Investments, Inc. IA$838K · 1.13%
Community Bankshares, Inc. GA$834K · 3.71%

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Source: U.S. Department of Labor, Form 5500 series, EIN 931274966 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.