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Original filing (PDF)20250808121742NAL0004394817001
TOWNEBANK
Form 5500
FILING_RECEIVED
TOWNEBANK STOCK AND SAVINGS PLAN
401(k) retirement plan
Signals · 1
No recordkeeper disclosed
Active participants
2,649
Accounts w/ balance
3,012
Plan assets (EOY)
$320.2M
Net assets (EOY)
$320.2M
How this plan invests
This plan
20 pooled trusts
Schedule D
33 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
93
/ 100
Grade A
Top-tier plan health
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
100
Total plan cost
80
Vendor stack
80
Participation health
100
Knocking points off
- 13 bps in Schedule C fees — modestly above peer band of 10 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for TOWNEBANK.
Plan sponsor
Name
TOWNEBANK
EIN
54-1910608
Address
6001 HARBOUR VIEW BLVD · SUFFOLK, VA · 234352767
Phone
(757) 638-6704
Industry
Commercial Banking· Finance & Insurancesee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
001
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-08-08
Pension benefit codes
2E · Profit-sharing
2F · ERISA section 404(c)
2G · Total participant-directed accounts
2J · 401(k) feature
2K · 401(m) arrangement
2P · Leveraged ESOP
2S · Automatic enrollment
2T · Default investment account (QDIA)
2U · Association Retirement Plan
3H · Sponsor in controlled / affiliated group
Audit & trust (Schedule H)
Auditor
FORVIS MAZARS, LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
3 rowsAdvisor / Consultant
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| CAPFINANCIAL PARTNERS, L | 26-0058143 | — | INVESTMENT ADVISORY | $66K | — |
TPA / Administrator
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | 42-0127290 | — | CONTRACT ADMINISTRATOR | $351K | — |
Other
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MORNINGSTAR INVESTMENT MANAGEMENT L | 36-4317381 | — | INV ADV, PARTICIPANTS | $0 | — |
Investments
29 direct securities · 20 pooled funds· $519.1M(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
$300.2M
29 holdings
Common Collective Trust
$176.3M
14 holdings
Pooled Separate Account
$42.7M
6 holdings
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| JP Morgan Large Cap Growth Fund R6 | — | — | — | $30.8M | 9.6% | |
| Principal Global Investors Large Cap S&P 500 Separate Account | — | — | — | $26.2M | 8.2% | |
| PRIN LGCP S&P 500 INDEX SA-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 016 | Pooled Separate Account | — | — | $26.2M | 8.2% | |
| Principal Trust Company Target 2040 Fund | — | — | — | $25.4M | 7.9% | |
| PRIN LIFETIME HB 2040 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 007 | Common Collective Trust | — | — | $25.4M | 7.9% | |
| TowneBank Common stock | — | — | — | $24.9M | 7.8% | |
| Principal Trust Company Target 2020 Fund | — | — | — | $23.9M | 7.5% | |
| PRIN LIFETIME HYB 2020 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 003 | Common Collective Trust | — | — | $23.9M | 7.5% | |
| Principal Trust Company Target 2035 Fund | — | — | — | $22.1M | 6.9% | |
| PRIN LIFETIME HB 2035 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 006 | Common Collective Trust | — | — | $22.1M | 6.9% | |
| Principal Trust Company Target 2030 Fund | — | — | — | $22.0M | 6.9% | |
| PRIN LIFETIME HYB 2030 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 005 | Common Collective Trust | — | — | $22.0M | 6.9% | |
| Principal Trust Company Target 2025 Fund | — | — | — | $21.7M | 6.8% | |
| PRIN LIFETIME HYB 2025 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 004 | Common Collective Trust | — | — | $21.7M | 6.8% | |
| Principal Trust Company Target 2045 Fund | — | — | — | $15.4M | 4.8% | |
| PRIN LIFETIME HB 2045 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 008 | Common Collective Trust | — | — | $15.4M | 4.8% | |
| PRINCIPAL STABLE VALUE Z FUND PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 93-6274328 / PN 001 | Common Collective Trust | — | — | $13.3M | 4.2% | |
| Principal Trust Company Target 2050 Fund | — | — | — | $11.1M | 3.5% | |
| PRIN LIFETIME HY 2050 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 009 | Common Collective Trust | — | — | $11.1M | 3.5% | |
| The American Funds American Mutual R6 Fund | — | — | — | $10.4M | 3.3% | |
| The American Funds EuroPacific Growth Fund R6 | — | — | — | $9.2M | 2.9% | |
| Principal Trust Company Target 2055 Fund | — | — | — | $7.9M | 2.5% | |
| PRIN LIFETIME HY 2055 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 010 | Common Collective Trust | — | — | $7.9M | 2.5% | |
| Principal Global Investors Mid Cap S&P 400 Index Separate Account | — | — | — | $6.3M | 2.0% | |
| PRIN MIDCAP S&P 400 IDX SA-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 023 | Pooled Separate Account | — | — | $6.3M | 2.0% | |
| Victory Capital Management Victory Sycamore R6 Fund | — | — | — | $5.7M | 1.8% | |
| PIMCO High Yield Admin Fund | — | — | — | $5.0M | 1.6% | |
| Principal Trust Company Target 2060 Fund | — | — | — | $4.9M | 1.5% | |
| PRIN LIFETIME HY 2060 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 012 | Common Collective Trust | — | — | $4.9M | 1.5% | |
| Principal Trust Company Income Fund | — | — | — | $4.1M | 1.3% | |
| PRIN LIFETIME HY INC CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 011 | Common Collective Trust | — | — | $4.1M | 1.3% | |
| PRIN SMCAP S&P 600 INDEX SA-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 028 | Pooled Separate Account | — | — | $4.0M | 1.3% | |
| maturing through December 2034 | — | — | — | $3.8M | 1.2% | |
| Victory Capital Management Victory Sycamore Small Company Opportunity Fund | — | — | — | $3.8M | 1.2% | |
| AB/Brown/Emerald Small Cap Growth I Separate Account | — | — | — | $3.6M | 1.1% | |
| PRIN SMCAP GROWTH I SEP ACCT-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 070 | Pooled Separate Account | — | — | $3.6M | 1.1% | |
| Principal Trust Company Target 2065 Fund | — | — | — | $2.4M | 0.8% | |
| PRIN LIFETIME HY 2065 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 013 | Common Collective Trust | — | — | $2.4M | 0.8% | |
| MFS Investment Management Mid-Cap Growth Fund R6 | — | — | — | $2.3M | 0.7% | |
| PIMCO Total Return Admin Fund | — | — | — | $2.1M | 0.7% | |
| PIMCO Real Return Admin Fund | — | — | — | $1.8M | 0.6% | |
| PRIN INTL EQUITY INDEX SA-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 121 | Pooled Separate Account | — | — | $1.7M | 0.5% | |
| Principal Trust Company Target 2015 Fund | — | — | — | $1.7M | 0.5% | |
| PRIN LIFETIME HYB 2015 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 002 | Common Collective Trust | — | — | $1.7M | 0.5% | |
| Driehaus Capital Management Driehaus Emerging Market Growth Fund | — | — | — | $1.2M | 0.4% | |
| PRIN BOND MARKET INDEX SA-Z PRINCIPAL LIFE INSURANCE COMPANY · EIN 42-0127290 / PN 122 | Pooled Separate Account | — | — | $829K | 0.3% | |
| Principal Trust Company Target 2070 Fund | — | — | — | $147K | <0.1% | |
| PRIN LIFETIME HYB 2070 CIT X PRINCIPAL GLOBAL INVESTORS TRUST CO · EIN 26-6447574 / PN 014 | Common Collective Trust | — | — | $147K | <0.1% | |
| Principal Pension Builder Paid-Up Deferred Annuities | — | — | — | $100K | <0.1% |
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