Department of Labor filing

MAGNOLIA BANKING CORPORATION AND FARMERS BANK AND TRUST COMPANY

FARMERS BANK AND TRUST COMPANY 401(K) AND EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · For the plan year ended Dec 31, 2024

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Public filing 2024 · received Oct 10, 2025Verified current terms Not available

Plan at a glance

How good does the filing look?

29filing comparison
out of 100

The filing trails many comparable plans on reported employer support and/or plan-paid administrative costs. This is a filing comparison, not a complete benefits score.

$Employer support

$503

Reported employer contributions per active participant.

Higher than about 4% of comparable plans

#People in the filing

390

Active participants reported for 2024.

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

¢Visible plan-paid fees

$26 / participant

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

Lower cost than about 88% of comparable plans

↗Investment performance

Not available

Plan assets changed 17.5%, 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 · 202429out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions4th percentileTypical peer $3,279 · based on 1,427 comparable plans

Lower reported administrative expense88th 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, MAGNOLIA BANKING CORPORATION AND FARMERS BANK AND TRUST COMPANY reported $196,068 in employer contributions across the plan and 390 active participants. That works out to $503 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 proxy61%

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 trendUp 113.2%

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

Expense trendDown 17.4%

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

Peer context29/100

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: $196,068
Participant contributions: $2,002,952
Other contributions: $184,133
Employer share of reported contributions: 8.9%
Beginning assets: $26,548,541
Ending assets: $31,194,936
Ending net assets: $31,194,936
Ending liabilities: $0
Total income: $9,092,046
Total expenses: $4,445,651
Administrative expenses: $14,986
Participant loans: $508,253

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

$236

2023

$697

2024

$503

Plan-paid administrative expenses per participant

2022

$32

2023

$21

2024

$26

Active participants

2022

399

2023

383

2024

390

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2024	$503	390	31.2M	20251010084635NAL0018009410001
2023	$697	383	26.5M	20241007111126NAL0015081601001
2022	$236	399	21.5M	20230929144706NAL0028142898001

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: 1.6%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Not stated in the filing
Public plan identifier: 710054330-001

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
2E2F2G2I2J2K2O2S2T3H

Reported service providers

Organizations named in the latest filing

The public dataset does not always identify a provider’s exact role. Compensation stays blank when it was not separately reported.

Provider	Plan year	Direct compensation	Indirect compensation
PRINCIPAL LIFE INSURANCE COMPANY	2024	Not reported	unknown

Current plan terms

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Filing ACK_ID20251010084635NAL0018009410001

Data sourceDOL Form 5500 bulk data ↗

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