401k Record

Employers › Preferred Bank

Preferred Bank 401(k)

Recordkeeping fees per participant · Preferred Bank 401(k) Profit Sharing Plan · plan year 2024

$21.72

Higher than 19% of the 5,847 plans $50 to 250M that report it.

Source

= $7,234 / 333
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251015094735NAL0005705184001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015094735NAL0005705184001, received 2025-10-15

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 2025-10-15.

Cost and contributions

Administrative expenses excluding investment management, per participant

$21.72

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

Higher than 13% of the 8,758 plans $50 to 250M that report it.

Source

= $7,234 / 333
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251015094735NAL0005705184001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015094735NAL0005705184001, received 2025-10-15

Administrative expenses per participant

$21.72

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

Higher than 8% of the 9,042 plans $50 to 250M that report it.

Source

= $7,234 / 333
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015094735NAL0005705184001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015094735NAL0005705184001, received 2025-10-15

Administrative expenses as a share of assets

0.012%

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

Higher than 6% of the 9,049 plans $50 to 250M that report it.

Source

= $7,234 / $58,763,278
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015094735NAL0005705184001, received 2025-10-15
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251015094735NAL0005705184001, received 2025-10-15

Employer contributions per participant

$2,128

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

Higher than 36% of the 9,105 plans $50 to 250M that report it.

Source

= $708,640 / 333
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015094735NAL0005705184001, received 2025-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015094735NAL0005705184001, received 2025-10-15

Employer share of total contributions

18.7%

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

Higher than 15% of the 9,112 plans $50 to 250M that report it.

Source

= $708,640 / $3,783,949
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015094735NAL0005705184001, received 2025-10-15
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251015094735NAL0005705184001, received 2025-10-15

Plan terms, as stated in Preferred Bank'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 · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251015094735NAL0005705184001, received 2025-10-15

Full record, Preferred Bank 401(k) Profit Sharing Plan

FieldValueSource
Plan sponsorPREFERRED BANKForm 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251015094735NAL0005705184001, received 2025-10-15
Plan namePREFERRED BANK 401(K) PROFIT SHARING PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20251015094735NAL0005705184001, received 2025-10-15
Sponsor EIN / plan number95-4340199 / 001Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251015094735NAL0005705184001, received 2025-10-15
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251015094735NAL0005705184001, received 2025-10-15
Sponsor locationLOS ANGELES, CAForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251015094735NAL0005705184001, received 2025-10-15
Industry (business code)522110, Finance and insuranceForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20251015094735NAL0005705184001, received 2025-10-15
Plan year2024-01-01 to 2024-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251015094735NAL0005705184001, received 2025-10-15
Filing received2025-10-15Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251015094735NAL0005705184001, received 2025-10-15
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251015094735NAL0005705184001, received 2025-10-15
Amended filingnoForm 5500, Part I line B; AMENDED_IND pos 7; filing 20251015094735NAL0005705184001, received 2025-10-15
Participants, beginning of year288Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251015094735NAL0005705184001, received 2025-10-15
Active participants312Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251015094735NAL0005705184001, received 2025-10-15
Participants, end of year367Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251015094735NAL0005705184001, received 2025-10-15
Participants with an account balance333Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251015094735NAL0005705184001, received 2025-10-15
Total assets, beginning of year$50,644,617Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251015094735NAL0005705184001, received 2025-10-15
Total assets, end of year$58,763,278Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251015094735NAL0005705184001, received 2025-10-15
Net assets, end of year$58,763,278Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251015094735NAL0005705184001, received 2025-10-15
Total income$10,911,764Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251015094735NAL0005705184001, received 2025-10-15
Net income$8,118,661Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251015094735NAL0005705184001, received 2025-10-15
Employer contributions$708,640Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251015094735NAL0005705184001, received 2025-10-15
Participant contributions$3,047,074Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251015094735NAL0005705184001, received 2025-10-15
Other contributions (incl. rollovers)$28,235Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251015094735NAL0005705184001, received 2025-10-15
Total contributions$3,783,949Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251015094735NAL0005705184001, received 2025-10-15
Benefit payments$2,785,869Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251015094735NAL0005705184001, received 2025-10-15
Total expenses (incl. benefit payments)$2,793,103Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251015094735NAL0005705184001, received 2025-10-15
Total administrative expenses$7,234Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251015094735NAL0005705184001, received 2025-10-15
Recordkeeping fees$7,234Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251015094735NAL0005705184001, received 2025-10-15
Administrative expenses excluding investment management$7,234derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251015094735NAL0005705184001, received 2025-10-15
Held in mutual funds$58,467,754Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251015094735NAL0005705184001, received 2025-10-15
Independent auditorAUDIT AND TAX SOLUTIONS CPASSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251015094735NAL0005705184001, received 2025-10-15

Position = column in the DOL layout for form year 2024. Filing 20251015094735NAL0005705184001, received 2025-10-15.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
NEWPORT GROUP, INC.recordkeeperRECORD KEEPER 60 Sub-transfer agency fees; 59 Shareholder servicing fees $30,347yes
ADP, INC.recordkeeperRECORD KEEPER 37 Participant loan processing; 50 Direct payment from the plan; 15 Recordkeeping and information management; 64 Recordkeeping fees $970yes
ADP BROKER-DEALERrecordkeeperRECORD KEEPER 60 Sub-transfer agency fees; 59 Shareholder servicing fees $0yes

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 20251015094735NAL0005705184001, received 2025-10-15.

What changed since the 2023 plan year

Figure20232024Change
Total assets$50,644,617$58,763,27816.0%
Participants with a balance3053339.2%
Administrative expenses$16,895$7,234-57.2%
Recordkeeping fees per participantnot reported$21.72
Employer contributions$672,934$708,6405.3%

Prior filing 20250113142247NAL0029546544001, received 2025-01-13; the plan years are contiguous.

Alerts, claims and corrections

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Sponsor name as filed: PREFERRED BANK; SEC registrant: Preferred Bank (CIK 1492165, matched by EIN).