Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 3

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 3
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 as our “geographic footprint.”
The table below outlines our branches and deposit market share based on the FDIC’s summary of deposits market share reporting done
in 2024.

    Southwest Heritage Bank 
  
    State 
    Total Deposits ($000)(1)  
    # of  Branches(1)  
    Market Share(1)  
    Deposits in Market ($000)(1) 
  
    Arizona 
    $622,934  
     6  
     0.29% 
    $212,433,072 
  
    New Mexico 
     151,575  
     2  
     0.35% 
     43,734,923 

    (1)
    Based
    solely on FDIC data, including total deposits, number of branches, market share and deposits in market as of June 30, 2024.

Our
Business Strategy

Our goal is to build
a premier regional bank serving the key markets of Phoenix and Tucson, Arizona as well as Southern New Mexico, primarily by investing
in people, technology and infrastructure to create a top-tier banking platform. Our business is focused on providing specialized commercial
and consumer banking services to our clients, with an emphasis on key growth markets. Our unwavering commitment to serving local communities
has led to a high-quality core deposit franchise focused in stable and growing markets that provides a low-cost funding base for our
lending opportunities.

Leverage
our Relationships and Service Capabilities to Drive Organic Growth. Our core competencies include
a relationship-centered and multi-line sales approach, a focus on collaboration across a highly skilled and seasoned team of bankers
and a dynamic ability to provide our clients with the highest quality services and solutions. This strategy has enabled us to attract
business customers across our traditional and expanded geographic footprint. The objective is to be a trusted advisor to our clients
as they build their businesses with our resources, support and advice.

Grow
our core deposit franchise. The strength of our deposit franchise is derived from strong, lasting
relationships with our clients and a focus on being an integral part of the communities where we do business. Our deposit footprint has
provided, and we believe will continue to provide, principal support for the growth of our loan portfolio. As of December 31, 2024, core
deposits, which we define as total deposits less certificates of deposit greater than $250,000 and brokered deposits comprised 11.5%