MOUNTAIN VALLEY BANK

PO BOX 729
DUNLAP, TN 37327

Talking Points

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is Higher than 78% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 30%. While peers Increased an average of 4%.
Needs Attention

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 0% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 23.5% of the market.
Good

Business Stats

Policy History

Term Carrier LCM
2023

2.048
2022

1.580
2021

1.659
2020

1.575
2020

1.200
2019

1.200
2018

1.200
2017

1.200
2016

1.200
2015

-

Contacts

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President/CEO
(849) 198-7728
bcmvznmnnmsaljs@kscmxtdlbqaeg.esw

WBEIKP N. POBUJ
Benefits Admin
(044) 935-4070
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HOKGIZ MIPTI
Benefits Admin
(630) 761-5038
939

Y. LEJJSR DUEBVPTAHWT
Benefits Admin
(452) 531-0053
900f

Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152010
BOY Assets: $ 3,245,688 $ 5,227,419 $ 6,192,965 $ 9,067,024 $ 7,865,100 $ 912,712 $ 9,636,007 $ 2,500,396
Liabilities: $ 0 $ 1 $ 0 $ 1 $ 14
EE Contrib: $ 133,386 $ 53,367 $ 29,574 $ 47,670 $ 52,501 $ 22,817 $ 145,447 $ 45,277
Emp Contrib: $ 53,080 $ 21,509 $ 11,960 $ 26,046 $ 79,909 $ 67,142 $ 90,645 $ 46,833
Income/Loss: $ 344,029 $ 497,494 $ 246,549($ 897,868) $ 886,490 $ 647,274($ 19,469) $ 914,863
Total Income: $ 530,495 $ 849,642 $ 380,277($ 6,774) $ 370,299 $ 840,870 $ 573,100 $ 847,274
Paid Benefits: $ 141,935 $ 15,452 $ 139,711 $ 3,549 $ 21,535 $ 90,864 $ 1,049 $ 52,253
Expenses: $ 0 $ 58 $ 14 $ 9 $ 35
  Commission: $ 17,091 $ 70,992 $ 8,110 $ 249 $ 795 $ 397 $ 407 $ 339
Net Income: $ 371,469 $ 886,893 $ 51,974($ 82,072) $ 489,511 $ 422,729 $ 530,378 $ 321,296
Net Assets: $ 3,617,157 $ 6,834,604 $ 4,115,130 $ 251,363 $ 2,771,048 $ 3,492,107 $ 5,621,140 $ 224,772

Participants

20212020201920182017201620152010
Total Participants:5469929516471063
Active Part.:424951504199670d3
Retired Part.:92 962af66ada6fb99
Deceased Part.:4848c614cdecd

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.