Firstbank Holding Company 401(k) Review & Grade
Firstbank Holding Company Savings and Esop
Lakewood, COManagement of Companies2,694 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,718Employer $ per active participant
$6,035Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$651.3MNet plan assets, end of year
$150,271Average balance per account
Score breakdown
- Employer generosity39.0 / 5078th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 94th |
| Employee saving | 44th |
| Peers that auto-enroll | 58% |
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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
- Firstbank Holding put in about $5,718 per active participant, more than the typical peer ($3,455). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $15,402,182 |
| Participant (employee) contributions | $16,254,755 |
| Other contributions (incl. rollovers in) | $1,137,278 |
| Administrative expenses paid from the plan | $134,203 |
| Investment advisory & management fees | $119,012 |
| Other admin expenses | $79,205 |
| Benefits paid out | $55,536,650 |
| Net assets, start / end of year | $578.8M / $651.3M |
| Active participants, start / end of year | 2,746 / 2,641 |
| Participants with account balances | 4,334 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young, LLP |
| Employer stock held by plan | $262,966,972 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $119,012 reported compensation |
| Persium Advisors LLC | $80,000 reported compensation |
| Fidelity Investments Institutional | −$64,014 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002165827NAL0000735809001, received 2025-10-02, EIN 84-0826848, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.