Northway Bank401(k)
NORTHWAY BANK 401(K) AND PROFIT SHARING PLAN · BERLIN, NH · plan year 2024
Northway Bank's 2024 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 $22,805,133 across 235 participant accounts, with employer contributions averaging $5,586 per active participant. See methodology for what Form 5500 does and doesn't capture.
The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other finance & insurance employers. By assets it is the 160th-largest of 411 plans among New Hampshire employers on file, and 2,844th of 4,798 in finance & insurance. In 2024, employees put in $1.34 for every $1.00 the employer contributed; active participation has shrunk from 191 to 166 since 2022.
Northway Bank's 2024 employer contribution ran above the $2,416 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.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 020108854 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.