First Community Bankshares, Inc. 401(k) Review & Grade
First Community Bankshares, Inc. Employee Stock Ownership and Savings Plan
Bluefield, VAFinance & Insurance588 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,976Employer $ per active participant
$3,849Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$80.7MNet plan assets, end of year
$117,463Average balance per account
Score breakdown
- Employer generosity19.3 / 5039th percentile for employer $ per participant
- Low cost11.9 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 48th |
| Employee saving | 11th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- First Community Bankshares put in about $2,976 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,749,753 |
| Participant (employee) contributions | $2,263,405 |
| Other contributions (incl. rollovers in) | $374,005 |
| Administrative expenses paid from the plan | $191,252 |
| Contract administrator fees | $115,657 |
| Investment advisory & management fees | $75,595 |
| Benefits paid out | $6,725,049 |
| Net assets, start / end of year | $74.5M / $80.7M |
| Active participants, start / end of year | 580 / 596 |
| Participants with account balances | 687 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
| Employer stock held by plan | $11,098,433 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $115,405 reported compensation |
| Fund Direct Advisors Inc. | $61,286 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015110655NAL0002296771001, received 2025-10-15, EIN 55-0694814, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.