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Original filing (PDF)20250729164317NAL0001478915001
BORDER BANK
Form 5500
FILING_RECEIVED
BORDER BANK 401(K) PLAN & TRUST
401(k) retirement plan
Signals · 2
98% in single holdingNo recordkeeper disclosed
Active participants
156
Accounts w/ balance
181
Plan assets (EOY)
$18.9M
Net assets (EOY)
$18.9M
How this plan invests
This plan
1 pooled trust
Schedule D
2 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
84
/ 100
Grade B
Above-average plan
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
75
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
- Top holding "Current" is 98% of plan.
- 45 bps in Schedule C fees — 56% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for BORDER BANK.
Plan sponsor
Name
BORDER BANK
EIN
45-0314785
Address
133 MAIN STREET NORTH · GREENBUSH, MN · 56726
Phone
(218) 634-3300
Industry
Finance & Insurancesee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
002
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-07-29
Pension benefit codes
2E · Profit-sharing
2J · 401(k) feature
2F · ERISA section 404(c)
2G · Total participant-directed accounts
2R · Participant-directed brokerage (SDBA)
3D · Pre-approved plan (master / prototype / VS)
Audit & trust (Schedule H)
Auditor
OLSEN, THIELEN & CO., LTD
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
2 rowsOther
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BENEFIT PLANS ADMIN SERVICES, INC. | 16-1503696 | — | NONE | $67K | — |
| IMPACT RETIREMENT ADVISORS, LLC | — | BLOOMINGTON, MN | NONE | $18K | — |
Investments
2 direct securities · 1 pooled fund· $19.8M(100% of reported assets)
Rows tagged as a trust or pooled fund hold many underlying securities. Click one to drill into its own Schedule of Assets — where the individual funds, shares, and CUSIPs live.
Uncategorized
$18.9M
2 holdings
Common Collective Trust
$900K
1 holding
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| Current | — | — | $17.5M | $18.5M | 98.1% | |
| MET MASTER TRUST 25053 RELIANCE TRUST COMPANY · EIN 46-6625485 / PN 001 | Common Collective Trust | — | — | $900K | 4.8% | |
| value | — | — | $900K | $362K | 1.9% |
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