Department of Labor filing

KITSAP BANK

KITSAP BANK 401(K) PROFIT SHARING PLAN · For the plan year ended Dec 31, 2024

Public filing 2024 · received Sep 15, 2025Verified current terms Not available

Plan at a glance

How good does the filing look?

77filing comparison
out of 100

The filing signals stronger employer support and/or lower plan-paid administrative costs than many comparable plans. This is a filing comparison, not a complete benefits score.

$Employer support

$6,680

Reported employer contributions per active participant.

Higher than about 90% of comparable plans

#People in the filing

258

Active participants reported for 2024.

The filing does not say how many employees are currently contributing.

¢Visible plan-paid fees

$201 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 46% of comparable plans

↗Investment performance

Not available

Plan assets changed 7.6%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.

What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓

Filing comparison · 202477out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions90th percentileTypical peer $3,279 · based on 1,427 comparable plans

Lower reported administrative expense46th percentileTypical peer $184 · based on 1,443 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Dec 31, 2024, KITSAP BANK reported $1,723,520 in employer contributions across the plan and 258 active participants. That works out to $6,680 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy68%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendDown 17.1%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendUp 83.3%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context77/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions: $1,723,520
Participant contributions: $1,949,002
Other contributions: $736,642
Employer share of reported contributions: 46.9%
Beginning assets: $53,195,075
Ending assets: $57,252,170
Ending net assets: $57,252,170
Ending liabilities: $0
Total income: $10,872,862
Total expenses: $6,815,767
Administrative expenses: $84,857
Participant loans: $417,179

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant

2022

$8,057

2023

$6,573

2024

$6,680

Plan-paid administrative expenses per participant

2022

$110

2023

$114

2024

$201

Active participants

2022

262

2023

262

2024

258

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2024	$6,680	258	57.3M	20250915170455NAL0001214689001
2023	$6,573	262	53.2M	20240806174521NAL0002580305001
2022	$8,057	262	45.5M	20230816132409NAL0000883347001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets: 0.7%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Not stated in the filing
Public plan identifier: 910283150-001

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Jan 1, 1985
Industry: Finance and insurance
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2F2G2J2K2S2T3B3D

Current plan terms

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Filing ACK_ID20250915170455NAL0001214689001

Data sourceDOL Form 5500 bulk data ↗

Filing searchEFAST2 ↗