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Original filing (PDF)20250731093012NAL0008188192003
THE CITIZENS BANK
Form 5500
FILING_RECEIVED
SOUTH CAROLINA BANKERS EMPLOYEE BENEFIT TRUST
Health & welfare plan
Signals · 3
77% in single holding~1914 bps in Sched C feesNo recordkeeper disclosed
Active participants
131
Accounts w/ balance
—
Plan assets (EOY)
$620K
Net assets (EOY)
$490K
How this plan invests
This plan
4 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 "The Citizens Bank Demand deposit account" is 77% of plan.
- 1914 bps in Schedule C fees — 1112% above peer band of 158 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for THE CITIZENS BANK.
Plan sponsor
Name
THE CITIZENS BANK
EIN
57-0874845
Address
P.O. BOX 446 · OLANTA, SC · 29114
Phone
(843) 396-4314
Industry
Commercial Banking· Finance & Insurancesee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
501
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-07-31
Welfare benefit codes
4A · Health (other than dental or vision)
4B · Life Insurance
4D · Dental
4E · Vision
4H · Long-Term Disability
Audit & trust (Schedule H)
Auditor
SCOTT AND COMPANY, LLC
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
3 rowsOther
3| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BLUE CROSS BLUE SHIELD OF SC | 57-0287419 | COLUMBIA, SC | NONE | $107K | — |
| RCH BENEFITS ADVISORS LLC | — | COLUMBIA, SC | NONE | $6K | — |
| HUB INTERNATIONAL CAROLINAS | — | COLUMBIA, SC | NONE | $5K | — |
Investments
4 direct securities· $501K(81% of reported assets)
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| The Citizens Bank Demand deposit account | — | — | — | $385K | 62.0% | |
| LPL Financial (The Citizens Bank) U.S. Treasury Note, 2.00%, maturing 2/15/25 | — | — | $40K | $40K | 6.5% | |
| Carolina Bank & Trust Company Certificate of Deposit, 1.25%, maturing 9/6/25 | — | — | $39K | $40K | 6.4% | |
| Pickens Savings and Loan Association Certificate of Deposit, 3.75%, maturing 12/16/25 | — | — | $36K | $36K | 5.8% |