[x]
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996].
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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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PAGE
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Report of Independent Registered Public Accounting Firm
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1
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Statements of Net Assets Available for Benefits
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2
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Statements of Changes in Net Assets Available for Benefits
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3
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Notes to Financial Statements
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4
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SUPPLEMENTAL INFORMATION
|
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Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
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11
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2010
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2009
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|||||||
ASSETS
|
||||||||
INVESTMENTS AT FAIR VALUE
|
||||||||
Pooled separate accounts of insurance company
|
$ | 3,353,892 | $ | 2,799,639 | ||||
General account of insurance company
|
590,097 | 541,943 | ||||||
Self-directed brokerage account
|
1,065,666 | 1,063,038 | ||||||
NET ASSETS AVAILABLE FOR BENEFITS
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$ | 5,009,655 | $ | 4,404,620 |
2010
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2009
|
|||||||
ADDITIONS
|
||||||||
Additions to net assets attributed to:
|
||||||||
Investment income:
|
||||||||
Net appreciation in fair value of investments
|
$ | 260,237 | $ | 650,192 | ||||
Interest and dividends
|
33,885 | 82,549 | ||||||
Total investment income
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294,122 | 732,741 | ||||||
Contributions:
|
||||||||
Participants
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422,785 | 351,479 | ||||||
Transfer from qualified plan
|
890 | - | ||||||
Total
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717,797 | 1,084,220 | ||||||
DEDUCTIONS
|
||||||||
Deductions from net assets attributable to:
|
||||||||
Benefits paid to participants
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110,852 | 11,025 | ||||||
Refund of excess deferrals
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1,910 | 8,251 | ||||||
Total
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112,762 | 19,276 | ||||||
NET INCREASE
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605,035 | 1,064,944 | ||||||
NET ASSETS AVAILABLE FOR BENEFITS
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||||||||
Beginning of year
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4,404,620 | 3,339,676 | ||||||
End of year
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$ | 5,009,655 | $ | 4,404,620 |
1.
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DESCRIPTION OF THE PLAN
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1.
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DESCRIPTION OF THE PLAN (Continued)
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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3.
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PARTY-IN-INTEREST TRANSACTIONS
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4.
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INVESTMENTS
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2010
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2009
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|||||||
Pooled separate accounts of insurance company:
|
||||||||
Dreyfus S & P 500 Index Fund
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$ | 454,791 | $ | 395,439 | ||||
Janus Twenty Fund
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624,151 | 550,877 | ||||||
Nationwide Money Market Fund Institutional
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300,058 | 287,680 | ||||||
Fixed Fund
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590,097 | 541,943 | ||||||
Self-Directed Brokerage
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1,065,666 | 1,063,038 |
4.
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INVESTMENTS (Continued)
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2010
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2009
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|||||||
Pooled separate accounts of insurance company
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$ | 285,589 | $ | 493,804 | ||||
Self-directed brokerage accounts
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(25,352 | ) | 156,388 | |||||
$ | 260,237 | $ | 650,192 |
5.
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TAX STATUS
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6.
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PLAN TERMINATION
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7.
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INVESTMENT IN COMMON STOCK OF CHARTER FINANCIAL CORPORATION
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8.
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FAIR VALUE MEASUREMENT
|
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Level 1
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Inputs to the valuation methodology are unadjusted quoted market prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
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Level 2
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Inputs to the valuation methodology include
|
|
·
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quoted prices for similar assets or liabilities in active markets;
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·
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quoted prices for identical or similar assets or liabilities in inactive markets;
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|
·
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inputs other than quoted prices that are observable for the asset or liability;
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|
·
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inputs that are derived principally from or corroborated by observable market data by correlation or other means.
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Level 3
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Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
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8.
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FAIR VALUE MEASUREMENT (Continued)
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Assets at Fair Value as of December 31, 2010
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||||||||||||||||
Level 1
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Level 2
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Level 3
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Total
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|||||||||||||
Pooled separate accounts of insurance company:
|
||||||||||||||||
Balanced
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$ | 1,121,269 | $ | - | $ | - | $ | 1,121,269 | ||||||||
Growth
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1,023,744 | - | - | 1,023,744 | ||||||||||||
Income
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414,218 | - | - | 414,218 | ||||||||||||
Value
|
162,495 | - | - | 162,495 | ||||||||||||
Other
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632,166 | - | - | 632,166 | ||||||||||||
Self-directed brokerage account
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1,065,666 | - | - | 1,065,666 | ||||||||||||
General account of insurance company
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- | - | 590,097 | 590,097 | ||||||||||||
Total investments at fair value
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$ | 4,419,558 | $ | - | $ | 590,097 | $ | 5,009,655 |
Assets at Fair Value as of December 31, 2009
|
||||||||||||||||
Level 1
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Level 2
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Level 3
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Total
|
|||||||||||||
Pooled separate accounts of insurance company:
|
||||||||||||||||
Balanced
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$ | 925,596 | $ | - | $ | - | $ | 925,596 | ||||||||
Growth
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863,486 | - | - | 863,486 | ||||||||||||
Income
|
298,042 | - | - | 298,042 | ||||||||||||
Value
|
142,435 | - | - | 142,435 | ||||||||||||
Other
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570,080 | - | - | 570,080 | ||||||||||||
Self-directed brokerage account
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1,063,038 | - | - | 1,063,038 | ||||||||||||
General account of insurance company
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- | - | 541,943 | 541,943 | ||||||||||||
Total investments at fair value
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$ | 3,862,677 | $ | - | $ | 541,943 | $ | 4,404,620 |
8.
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FAIR VALUE MEASUREMENT (Continued)
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Level 3 Assets Years Ended
|
||||||||
December 31, 2010
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December 31, 2009
|
|||||||
Balance, beginning of year
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$ | 541,943 | $ | 493,737 | ||||
Interest income
|
20,371 | - | ||||||
Purchases, sales, issuances, and settlements (net)
|
27,783 | 48,206 | ||||||
Balance, end of year
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$ | 590,097 | $ | 541,943 |
9.
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TERMINATED PARTICIPANTS
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(c)
|
||||||||||
(b)
|
Description of Investment
|
|||||||||
Identity of Issue,
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Including Maturity Date
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(e)
|
||||||||
Borrower, Lessor or
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Rate of Interest, Collateral
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(d)
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Current
|
|||||||
(a)
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Similar Party
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Par or Maturity Value
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Cost
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Value
|
||||||
* |
Nationwide Life Insurance
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AdvisorOne Amerigo Fund
|
**
|
$ |
123,957
|
|||||
* |
Nationwide Life Insurance
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AdvisorOne Clermont Fund
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**
|
84,912
|
||||||
* |
Nationwide Life Insurance
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AdvisorOne Descartes Fund
|
**
|
53,534
|
||||||
* |
Nationwide Life Insurance
|
AdvisorOne Enhanced Income Fund
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**
|
25,852
|
||||||
* |
Nationwide Life Insurance
|
AdvisorOne Flexible Income Fund
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**
|
43,225
|
||||||
* |
Nationwide Life Insurance
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AdvisorOne Liahona Fund
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**
|
83,114
|
||||||
* |
Nationwide Life Insurance
|
AdvisorOne Reservoir Fund
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**
|
3,171
|
||||||
* |
Nationwide Life Insurance
|
AdvisorOne Select Allocation Fund
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**
|
65,793
|
||||||
* |
Nationwide Life Insurance
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AdvisorOne Select Appreciation
|
**
|
29,557
|
||||||
* |
Nationwide Life Insurance
|
Alliance Bernstein Global Bond Fund
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**
|
92
|
||||||
* |
Nationwide Life Insurance
|
Alliance Bernstein High Income Fund
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**
|
158
|
||||||
* |
Nationwide Life Insurance
|
American Century International Growth Fund
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**
|
117
|
||||||
* |
Nationwide Life Insurance
|
American Century Value Fund
|
**
|
2,168
|
||||||
* |
Nationwide Life Insurance
|
American Funds American High Income Trust Fund R3
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**
|
128
|
||||||
* |
Nationwide Life Insurance
|
American Funds American High Income Trust Fund R5
|
**
|
88
|
||||||
* |
Nationwide Life Insurance
|
American Funds American High Income Trust Fund R6
|
**
|
96
|
||||||
* |
Nationwide Life Insurance
|
American Funds Growth Fund of America
|
**
|
106
|
||||||
* |
Nationwide Life Insurance
|
American Funds New World Fund
|
**
|
66
|
||||||
* |
Nationwide Life Insurance
|
Black Rock High Yield Bond Fund
|
**
|
97
|
||||||
* |
Nationwide Life Insurance
|
Black Rock International Opportunity Fund
|
**
|
43
|
||||||
* |
Nationwide Life Insurance
|
Delaware Corporate Bond Fund
|
**
|
123
|
||||||
* |
Nationwide Life Insurance
|
Delaware Extended Duration Bond Fund
|
**
|
152
|
||||||
* |
Nationwide Life Insurance
|
Direxion Evolution All Cap Equity Fund
|
**
|
1,028
|
||||||
* |
Nationwide Life Insurance
|
Direxion Evolution Market Leaders Fund
|
**
|
531
|
||||||
* |
Nationwide Life Insurance
|
Dreyfus Appreciation Fund
|
**
|
674
|
||||||
* |
Nationwide Life Insurance
|
Dreyfus Intermediate Term Income Fund
|
**
|
66,905
|
||||||
* |
Nationwide Life Insurance
|
Dreyfus S & P 500 Index Fund
|
**
|
454,791
|
||||||
* |
Nationwide Life Insurance
|
DWS High Income Fund
|
**
|
87
|
||||||
* |
Nationwide Life Insurance
|
DWS Strategic Value Fund
|
**
|
89
|
||||||
* |
Nationwide Life Insurance
|
Federated High Yield Trust Fund
|
**
|
7,523
|
||||||
* |
Nationwide Life Insurance
|
Fidelity Advisor Balanced Fund
|
**
|
51,256
|
||||||
* |
Nationwide Life Insurance
|
Fixed Fund
|
**
|
590,097
|
||||||
* |
Nationwide Life Insurance
|
Franklin Balance Sheet Investment Fund
|
**
|
3,252
|
||||||
* |
Nationwide Life Insurance
|
Franklin Small Mid Cap Growth Fund
|
**
|
135
|
||||||
* |
Nationwide Life Insurance
|
Harbor International Fund Institutional
|
**
|
131,843
|
||||||
* |
Nationwide Life Insurance
|
Harbor International Investors Fund
|
**
|
58
|
||||||
* |
Nationwide Life Insurance
|
Harbor Mid Cap Value Fund
|
**
|
103
|
||||||
* |
Nationwide Life Insurance
|
Heartland Value Plus Fund
|
**
|
81,387
|
(c)
|
||||||||||
(b)
|
Description of Investment
|
|||||||||
Identity of Issue,
|
Including Maturity Date
|
(e)
|
||||||||
Borrower, Lessor or
|
Rate of Interest, Collateral
|
(d)
|
Current
|
|||||||
(a)
|
Similar Party
|
Par or Maturity Value
|
Cost
|
Value
|
||||||
* |
Nationwide Life Insurance
|
Huntington Situs Fund
|
**
|
$ |
110
|
|||||
* |
Nationwide Life Insurance
|
Invesco MidCap Core Equity Fund
|
**
|
4,413
|
||||||
* |
Nationwide Life Insurance
|
Invesco Van Kampen Common Stock Fund
|
**
|
175,493
|
||||||
* |
Nationwide Life Insurance
|
Invesco Van Kampen Equity & Income Fund
|
**
|
176,255
|
||||||
* |
Nationwide Life Insurance
|
Iron Strategic Income Fund
|
**
|
95
|
||||||
* |
Nationwide Life Insurance
|
Janus Fund
|
**
|
118,985
|
||||||
* |
Nationwide Life Insurance
|
Janus Overseas Fund
|
**
|
66
|
||||||
* |
Nationwide Life Insurance
|
Janus Twenty Fund
|
**
|
624,151
|
||||||
* |
Nationwide Life Insurance
|
JP Morgan Core Plus Bond Fund
|
**
|
93
|
||||||
* |
Nationwide Life Insurance
|
JP Morgan Mid Cap Value Fund
|
**
|
1,752
|
||||||
* |
Nationwide Life Insurance
|
Legg Mason Western Asset Non-US Opp Bond Fund
|
**
|
90
|
||||||
* |
Nationwide Life Insurance
|
Manning & Napier Pro Blend Consrvative Term Fund
|
**
|
63
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Fund
|
**
|
34
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Gov't Bond Fund A
|
**
|
180,433
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Gov't Bond Fund D
|
**
|
346
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Investor Destination Fund Aggressive
|
**
|
33,342
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Investor Destination Fund Moderate
|
**
|
33,766
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Investor Destination Fund Moderate Ag.
|
**
|
4,465
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Investor Destination Fund Moderate Cons.
|
**
|
442
|
||||||
* |
Nationwide Life Insurance
|
Nationwide Money Market Fund Institutuional
|
**
|
300,058
|
||||||
* |
Nationwide Life Insurance
|
Oppenheimer Global Fund
|
**
|
172,924
|
||||||
* |
Nationwide Life Insurance
|
Oppenheimer Gold & Special Minerals Fund
|
**
|
893
|
||||||
* |
Nationwide Life Insurance
|
Oppenheimer International Bond Fund
|
**
|
55
|
||||||
* |
Nationwide Life Insurance
|
Oppenheimer Limited Term Government Bond
|
**
|
29
|
||||||
* |
Nationwide Life Insurance
|
Oppenheimer Main Street Small Cap Fund
|
**
|
11,037
|
||||||
* |
Nationwide Life Insurance
|
Oppenheimer Small Mid Cap Value Fund
|
**
|
69,423
|
||||||
* |
Nationwide Life Insurance
|
PIMCO High Yield Fund
|
**
|
95
|
||||||
* |
Nationwide Life Insurance
|
PIMCO Total Return Fund Class A
|
**
|
1,520
|
||||||
* |
Nationwide Life Insurance
|
PIMCO Total Return Fund Institutional
|
**
|
1,748
|
||||||
* |
Nationwide Life Insurance
|
Pioneer High Yield Fund
|
**
|
63,466
|
||||||
* |
Nationwide Life Insurance
|
Pioneer Strategic Income Fund
|
**
|
100
|
||||||
* |
Nationwide Life Insurance
|
Principal Equity Income Fund
|
**
|
66
|
||||||
* |
Nationwide Life Insurance
|
Principal High Yield Fund
|
**
|
372
|
||||||
* |
Nationwide Life Insurance
|
Prudential Jennison 2020 Focus Fund
|
**
|
1,041
|
||||||
* |
Nationwide Life Insurance
|
Prudential Jennison Mid Cap Growth Fund
|
**
|
6,046
|
||||||
* |
Nationwide Life Insurance
|
Prudential Jennison Natural Resources Fund
|
**
|
37
|
||||||
* |
Nationwide Life Insurance
|
Rydex Government Long Bond 1.25x Str Fund
|
**
|
16,535
|
||||||
* |
Nationwide Life Insurance
|
Rydex S&P 500 Pure Growth Fund
|
**
|
2,205
|
||||||
* |
Nationwide Life Insurance
|
Rydex S&P 500 Pure Value Fund
|
**
|
99
|
(c)
|
|||||||||
(b)
|
Description of Investment
|
||||||||
Identity of Issue,
|
Including Maturity Date
|
(e)
|
|||||||
Borrower, Lessor or
|
Rate of Interest, Collateral
|
(d)
|
Current
|
||||||
(a)
|
Similar Party
|
Par or Maturity Value
|
Cost
|
Value
|
|||||
* |
Nationwide Life Insurance
|
Rydex S&P Small Cap 600 Pure Value Fund
|
**
|
$ |
7,474
|
||||
* |
Nationwide Life Insurance
|
Self-Directed Brokerage
|
**
|
1,065,666
|
|||||
* |
Nationwide Life Insurance
|
TCW Total Return Bond Fund
|
**
|
93
|
|||||
* |
Nationwide Life Insurance
|
Vanguard Intermediate Term Treasury Fund
|
**
|
120
|
|||||
* |
Nationwide Life Insurance
|
Vanguard Intermediate Term Investment Grade Fund
|
**
|
20,124
|
|||||
* |
Nationwide Life Insurance
|
Vanguard REIT Index Fund
|
**
|
7,422
|
|||||
* |
Nationwide Life Insurance
|
Vanguard Wellesley Income Fund
|
**
|
63
|
|||||
* |
Nationwide Life Insurance
|
Waddell & Reed Ivy Asset Strategy Fund
|
**
|
66
|
|||||
* |
Nationwide Life Insurance
|
Waddell & Reed Ivy Global Natural Resources Fund
|
**
|
112
|
|||||
* |
Nationwide Life Insurance
|
Waddell & Reed Ivy High Income Fund
|
**
|
64
|
|||||
$ |
5,009,655
|
CharterBank 401(k) Plan
|
||
Date: November 4, 2011
|
By:
|
/s/ Phyllis J. Boyett |
Name: Phyllis J. Boyett
|
||
Title: Senior Vice President
HR Director
|
Exhibit Number
|
Document
|
23.1
|
Consent of Independent Registered Public Accounting Firm
|