Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › First Bancshares
First Bancshares 401(k)
- Finance and insurance
- Hattiesburg, MS
- EIN 64-0862173
- 1 plan with Schedule H financials
- Plan year 2024
- The First Bancshares, Inc.
- SEC registrant First Bancshares Inc
Administrative expenses excluding investment management, per participant · The First Bancshares, Inc. Profit Sharing 401(k) Plan · plan year 2024
$237.82
Higher than 89% of the 8,758 plans $50 to 250M that report it.
Source
= $267,314 / 1,124
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014133317NAL0001426867001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014133317NAL0001426867001, received 2025-10-14
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 2025-10-14.
Cost and contributions
Administrative expenses per participant
$237.82
Higher than 78% of the 9,042 plans $50 to 250M that report it.
Source
= $267,314 / 1,124
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014133317NAL0001426867001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014133317NAL0001426867001, received 2025-10-14
Administrative expenses as a share of assets
0.475%
Higher than 97% of the 9,049 plans $50 to 250M that report it.
Source
= $267,314 / $56,293,955
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014133317NAL0001426867001, received 2025-10-14
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014133317NAL0001426867001, received 2025-10-14
Employer contributions per participant
$1,423
Higher than 19% of the 9,105 plans $50 to 250M that report it.
Source
= $1,599,768 / 1,124
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014133317NAL0001426867001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014133317NAL0001426867001, received 2025-10-14
Employer share of total contributions
22.8%
Higher than 28% of the 9,112 plans $50 to 250M that report it.
Source
= $1,599,768 / $7,004,303
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014133317NAL0001426867001, received 2025-10-14
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014133317NAL0001426867001, received 2025-10-14
Plan terms, as stated in The First Bancshares, Inc.'s SEC filings
Plan terms are described in The First Bancshares, Inc.'s SEC filings: Form 11-K filed 2022-07-15 and Form 10-K filed 2025-03-03. No term could be quoted from them with the required precision.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251014133317NAL0001426867001, received 2025-10-14
Full record, The First Bancshares, Inc. Profit Sharing 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | THE FIRST BANCSHARES, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Plan name | THE FIRST BANCSHARES, INC. PROFIT SHARING 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Sponsor EIN / plan number | 64-0862173 / 001 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Sponsor location | HATTIESBURG, MS | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Filing received | 2025-10-14 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Participants, beginning of year | 1,339 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Active participants | 1,008 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Participants, end of year | 1,323 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Participants with an account balance | 1,124 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Total assets, beginning of year | $48,421,509 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Total assets, end of year | $56,293,955 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Net assets, end of year | $56,293,955 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Total income | $13,188,114 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Net income | $7,872,446 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Employer contributions | $1,599,768 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Participant contributions | $5,035,648 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Other contributions (incl. rollovers) | $368,887 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Total contributions | $7,004,303 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Benefit payments | $5,048,354 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Total expenses (incl. benefit payments) | $5,315,668 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Total administrative expenses | $267,314 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Administrative expenses excluding investment management | $267,314 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Held in mutual funds | $53,051,086 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251014133317NAL0001426867001, received 2025-10-14 |
| Independent auditor | PILTZ, WILLIAMS, LAROSA AND COMPANY | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251014133317NAL0001426867001, received 2025-10-14 |
Position = column in the DOL layout for form year 2024. Filing 20251014133317NAL0001426867001, received 2025-10-14.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| LPL FINANCIAL | INVESTMENT ADVISOR | 27 Investment advisory (plan) | $157,223 | no |
| EMPOWER ANNUITY INSURANCE COMPANYrecordkeeper | RECORDKEEPER | 64 Recordkeeping fees | $121,109 | yes |
| T.E. LOTT & COMPANY, P.A. | CONTRACT ADMIN | 13 Contract administrator | $8,700 | yes |
| NAIL MCKINNEY PROFESSIONAL | CONTRACT ADMIN | 13 Contract administrator | $-417 | yes |
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 20251014133317NAL0001426867001, received 2025-10-14.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $48,421,509 | $56,293,955 | 16.3% |
| Participants with a balance | 1,106 | 1,124 | 1.6% |
| Administrative expenses | $204,357 | $267,314 | 30.8% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $1,440,761 | $1,599,768 | 11.0% |
Prior filing 20241015095559NAL0016094771001, received 2024-10-15; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: THE FIRST BANCSHARES, INC.; SEC registrant: FIRST BANCSHARES INC /MS/ (CIK 947559, matched by EIN; display name from the Form 10-K cover).