401k Record

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First American Bank 401(k)

Recordkeeping fees per participant · First American Bank Corporation Profit Sharing Plan · plan year 2024

$5.91

Higher than 6% of the 5,847 plans $50 to 250M that report it.

Source

= $6,504 / 1,101
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251010114504NAL0013021456001, received 2025-10-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251010114504NAL0013021456001, received 2025-10-10

10th: $10.22median $69.9190th: $151.08

Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-10.

Cost and contributions

Administrative expenses excluding investment management, per participant

$5.91

10th: $16.21median $93.2090th: $246.84

Higher than 3% of the 8,758 plans $50 to 250M that report it.

Source

= $6,504 / 1,101
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251010114504NAL0013021456001, received 2025-10-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251010114504NAL0013021456001, received 2025-10-10

Administrative expenses per participant

$5.91

10th: $29.39median $132.8490th: $350.58

Higher than 2% of the 9,042 plans $50 to 250M that report it.

Source

= $6,504 / 1,101
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251010114504NAL0013021456001, received 2025-10-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251010114504NAL0013021456001, received 2025-10-10

Administrative expenses as a share of assets

0.003%

10th: 0.022%median 0.136%90th: 0.326%

Higher than 2% of the 9,049 plans $50 to 250M that report it.

Source

= $6,504 / $197,792,566
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251010114504NAL0013021456001, received 2025-10-10
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251010114504NAL0013021456001, received 2025-10-10

Employer contributions per participant

$1,916

10th: $965median $2,73890th: $8,164

Higher than 31% of the 9,105 plans $50 to 250M that report it.

Source

= $2,109,843 / 1,101
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251010114504NAL0013021456001, received 2025-10-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251010114504NAL0013021456001, received 2025-10-10

Employer share of total contributions

21.8%

10th: 15.6%median 29.5%90th: 50.6%

Higher than 24% of the 9,112 plans $50 to 250M that report it.

Source

= $2,109,843 / $9,663,630
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251010114504NAL0013021456001, received 2025-10-10
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251010114504NAL0013021456001, received 2025-10-10

Plan terms, as stated in First American Bank Corporation's SEC filings

Plan terms are not published in public filings.

Plan features

2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251010114504NAL0013021456001, received 2025-10-10

Full record, First American Bank Corporation Profit Sharing Plan

FieldValueSource
Plan sponsorFIRST AMERICAN BANK CORPORATIONForm 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251010114504NAL0013021456001, received 2025-10-10
Plan nameFIRST AMERICAN BANK CORPORATION PROFIT SHARING PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20251010114504NAL0013021456001, received 2025-10-10
Sponsor EIN / plan number36-2782306 / 001Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251010114504NAL0013021456001, received 2025-10-10
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251010114504NAL0013021456001, received 2025-10-10
Sponsor locationELK GROVE VILLAGE, ILForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251010114504NAL0013021456001, received 2025-10-10
Industry (business code)522110, Finance and insuranceForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20251010114504NAL0013021456001, received 2025-10-10
Plan year2024-01-01 to 2024-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251010114504NAL0013021456001, received 2025-10-10
Filing received2025-10-10Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251010114504NAL0013021456001, received 2025-10-10
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251010114504NAL0013021456001, received 2025-10-10
Amended filingnoForm 5500, Part I line B; AMENDED_IND pos 7; filing 20251010114504NAL0013021456001, received 2025-10-10
Participants, beginning of year1,134Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251010114504NAL0013021456001, received 2025-10-10
Active participants879Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251010114504NAL0013021456001, received 2025-10-10
Participants, end of year1,159Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251010114504NAL0013021456001, received 2025-10-10
Participants with an account balance1,101Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251010114504NAL0013021456001, received 2025-10-10
Total assets, beginning of year$172,292,676Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251010114504NAL0013021456001, received 2025-10-10
Total assets, end of year$197,792,566Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251010114504NAL0013021456001, received 2025-10-10
Net assets, end of year$197,792,566Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251010114504NAL0013021456001, received 2025-10-10
Total income$38,821,299Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251010114504NAL0013021456001, received 2025-10-10
Net income$25,517,767Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251010114504NAL0013021456001, received 2025-10-10
Employer contributions$2,109,843Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251010114504NAL0013021456001, received 2025-10-10
Participant contributions$6,484,493Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251010114504NAL0013021456001, received 2025-10-10
Other contributions (incl. rollovers)$1,069,294Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251010114504NAL0013021456001, received 2025-10-10
Total contributions$9,663,630Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251010114504NAL0013021456001, received 2025-10-10
Benefit payments$13,297,028Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251010114504NAL0013021456001, received 2025-10-10
Total expenses (incl. benefit payments)$13,303,532Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251010114504NAL0013021456001, received 2025-10-10
Total administrative expenses$6,504Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251010114504NAL0013021456001, received 2025-10-10
Recordkeeping fees$6,504Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251010114504NAL0013021456001, received 2025-10-10
Administrative expenses excluding investment management$6,504derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251010114504NAL0013021456001, received 2025-10-10
Held in common/collective trusts$12,527,161Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251010114504NAL0013021456001, received 2025-10-10
Held in mutual funds$183,131,070Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251010114504NAL0013021456001, received 2025-10-10
Independent auditorLEGACY PROFESSIONALS LLPSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251010114504NAL0013021456001, received 2025-10-10

Position = column in the DOL layout for form year 2024. Filing 20251010114504NAL0013021456001, received 2025-10-10.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
FIRST AMERICAN BANKrecordkeeperDIVISION OF SPONSOR 15 Recordkeeping and information management; 21 Trustee (bank, trust company or similar); 24 Trustee (discretionary); 38 Participant communication; 50 Direct payment from the plan; 62 Float revenue; 64 Recordkeeping fees; 68 Soft dollars commissions $6,504yes

Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251010114504NAL0013021456001, received 2025-10-10.

What changed since the 2023 plan year

Figure20232024Change
Total assets$172,292,676$197,792,56614.8%
Participants with a balance1,0921,1010.8%
Administrative expenses$7,536$6,504-13.7%
Recordkeeping fees per participantnot reported$5.91
Employer contributions$1,948,778$2,109,8438.3%

Prior filing 20240927160847NAL0001181987001, received 2024-09-27; the plan years are contiguous.

Alerts, claims and corrections

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Sponsor name as filed: FIRST AMERICAN BANK CORPORATION; SEC registrant: FIRST AMERICAN BANK CORP/DE (CIK 764632, matched by EIN).