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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Asb Bancorp, Inc. | NASDAQ:ASBB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 45.10 | 45.05 | 57.75 | 0 | 01:00:00 |
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☒
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended
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December 31, 2016
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☐
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
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For the transition period from____________________ to ____________________
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Commission file number:
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001-35279
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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Asheville Savings Bank Retirement Savings Plan
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B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
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ASB Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
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11 Church Street, Asheville, NC
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28801
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(Address of principle executive offices)
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(Zip code)
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Page
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1 | ||
FINANCIAL STATEMENTS:
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||
2 | ||
3 | ||
4 | ||
SUPPLEMENTAL SCHEDULE
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||
10 | ||
NOTE:
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All other schedules required by Section 2520.130-10 of the
Department of Labor’s Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of
1974 have been omitted because they are not applicable.
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|
11 | ||
12 |
2016
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2015
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|||||||
Assets
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||||||||
Investments at fair value (See Notes 3 and 4)
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$
|
7,113,169
|
$
|
6,864,900
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||||
Receivables:
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||||||||
Employer contributions
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9,282
|
8,743
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||||||
Participant contributions
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16,280
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13,941
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||||||
Notes receivable from participants
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218,401
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189,497
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||||||
Total receivables
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243,963
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212,181
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||||||
Net assets available for benefits
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$
|
7,357,132
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$
|
7,077,081
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Investment income:
|
||||
Net appreciation in fair value of investments
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$
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414,073
|
||
Interest and dividends
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142,006
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|||
Total investment income
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556,079
|
|||
Interest income on notes receivable from participants
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8,374
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|||
Contributions:
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||||
Employer
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235,991
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|||
Participant
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399,480
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|||
Rollovers
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283,285
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|||
Total contributions
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918,756
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|||
Net additions
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1,483,209
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|||
Deductions to net assets attributed to:
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||||
Benefits paid to participants
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1,166,012
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|||
Administrative expenses
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37,146
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|||
Total deductions
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1,203,158
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|||
Increase in net assets
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280,051
|
|||
Net assets available for benefits:
|
||||
Beginning of year
|
7,077,081
|
|||
End of year
|
$
|
7,357,132
|
● |
Level 1: Observable inputs such as quoted prices in active markets.
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● |
Level 2: Inputs other than quoted prices in active markets that are either directly or indirectly observable.
|
● |
Level 3: Unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions.
|
Assets at Fair Value | ||||||||||||||||
Quoted Prices In
Active Markets
For Identical Assets
(Level 1)
|
Significant
Other Observable
Inputs
(Level 2)
|
Significant
Unobservable
Inputs
(Level 3)
|
Fair Value
|
|||||||||||||
December 31, 2016
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||||||||||||||||
Assets:
|
||||||||||||||||
Mutual funds
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$
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4,510,126
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$
|
-
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$
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-
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$
|
4,510,126
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||||||||
Total assets in the fair value hierarchy
|
4,510,126
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-
|
-
|
4,510,126
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||||||||||||
Investments measured at net asset value (a)
|
-
|
-
|
-
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2,603,043
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||||||||||||
Total assets at fair value
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$
|
4,510,126
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$
|
-
|
$
|
-
|
$
|
7,113,169
|
||||||||
December 31, 2015
|
||||||||||||||||
Assets:
|
||||||||||||||||
Mutual funds
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$
|
4,585,053
|
$
|
-
|
$
|
-
|
$
|
4,585,053
|
||||||||
Total assets in the fair value hierarchy
|
4,585,053
|
-
|
-
|
4,585,053
|
||||||||||||
Investments measured at net asset value (a)
|
-
|
-
|
-
|
2,279,847
|
||||||||||||
Total assets at fair value
|
$
|
4,585,053
|
$
|
-
|
$
|
-
|
$
|
6,864,900
|
(a) |
Certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statements of net assets available for benefits.
|
(a) |
(b) Identity of Issue,
Borrower, Lessor or
Similar Party
|
(c) Description of Investment
Including Maturity Date,
Rate of Interest, Collateral,
Par or Maturity
Value
|
(d) Cost |
(e) Current
Value
|
||||||
Mutual Funds:
|
||||||||||
American Funds
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EuroPacific Growth Fund (R6)
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**
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$
|
75,149
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||||||
American Beacon
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Large Cap Value Fund I
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**
|
139,848
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|||||||
Dimensional Fund Advisors
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U.S. Small Cap Core Fund
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**
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129,787
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|||||||
T. Rowe Price
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Growth Stock Fund
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**
|
644,240
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|||||||
Dodge & Cox Income
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Mutual Fund Inv
|
**
|
153,505
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|||||||
T. Rowe Price
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Equity Income Fund
|
**
|
-
|
|||||||
T. Rowe Price
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Retirement 2010 Fund
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**
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88,838
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|||||||
T. Rowe Price
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Retirement 2015 Fund
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**
|
93,511
|
|||||||
T. Rowe Price
|
Retirement 2020 Fund
|
**
|
938,170
|
|||||||
T. Rowe Price
|
Retirement 2025 Fund
|
**
|
379,724
|
|||||||
T. Rowe Price
|
Retirement 2030 Fund
|
**
|
351,155
|
|||||||
T. Rowe Price
|
Retirement 2035 Fund
|
**
|
190,189
|
|||||||
T. Rowe Price
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Retirement 2040 Fund
|
**
|
39,048
|
|||||||
T. Rowe Price
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Retirement 2045 Fund
|
**
|
176,251
|
|||||||
T. Rowe Price
|
Retirement 2050 Fund
|
**
|
234,662
|
|||||||
T. Rowe Price
|
Retirement 2055 Fund
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**
|
66,023
|
|||||||
T. Rowe Price
|
Retirement Income Fund
|
**
|
3,219
|
|||||||
T. Rowe Price
|
Real Estate Fund
|
**
|
145,239
|
|||||||
Federated Treasury
|
Short Term Obligation Fund (I)
|
**
|
128,060
|
|||||||
Vanguard
|
500 Index Fund
|
**
|
220,342 | |||||||
Vanguard
|
Mid-Cap Index Fund
|
**
|
313,166
|
|||||||
* |
ASB Bancorp Stock Fund
|
Employer/sponsor common stock
|
**
|
1,864,734
|
||||||
* |
Asheville Savings Bank Time Deposit Fund
|
Employer certificates of deposit
|
**
|
738,309
|
||||||
* |
Participant Loans ***
|
Maturities of 15 to 120 months
|
**
|
|||||||
Interest rates of 4.00% to 6.00% |
218,401
|
|||||||||
$ |
7,331,570
|
* |
Permitted party-in-interest.
|
** |
Cost information omitted for participant-directed investments.
|
*** |
The accompanying financial statements classify participant loans as notes receivable from participants.
|
Asheville Savings Bank Retirement Savings Plan
|
||
June 28, 2017
|
By:
|
Asheville Savings Bank, Plan Administrator
|
By:
|
/s/ Jonna G. Bradham
|
|
Jonna G. Bradham
|
||
Senior Vice President
|
Exhibit
Number
|
Description
|
|
Consent of Independent Registered Public Accounting Firm
|
1 Year Asb Bancorp, Inc. Chart |
1 Month Asb Bancorp, Inc. Chart |
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