Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1756

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7A
Chunk 1756
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Code
of Ethics

Bancorp 34’s Board
of Directors approved and adopted a Code of Ethics applicable to all of our directors, executive officers and employees. The full text
of the Code of Ethics is attached hereto as Exhibit 14.1 and is incorporated herein by reference.

Item
11. Executive Compensation

Compensation
of Executive Officers

In this Annual Report
on Form 10-K, we refer to the individuals who served as our principal executive officer and our two other most highly compensated executive
officers, as the “named executive officers.” Our named executive officers as of December 31, 2024, were:

·Ciaran
                                            McMullan, Chief Executive Officer of Bancorp 34 and the Bank;

·Chris
                                            Webster, President of the Bank; and 

·Paul
                                            Tees, Executive Vice President and Chief Credit Officer of the Bank.

127

Summary
Compensation Table 

The following table
sets forth information concerning all compensation awarded to, earned by or paid to our named executive officers for all services rendered
in all capacities to us and our subsidiaries for the fiscal year ended December 31, 2024.

      Name and Principal Position  
    Year  
    Salary
($)  
    Bonus ($)(1)  
    Stock Awards ($)(2)  
    Change In 
Control 
Compensation
 ($)(3)  
    All Other Compensation ($)(4)  
    Total ($) 
  
    Ciaran McMullan, 
    2024  
     262,500  
     —  
     2,066,750  
     —  
     7,172  
     2,336,422 
  
    Chief Executive Officer 

    Chris Webster, 
    2024  
     225,225  
     —  
     755,840  
     243,115  
     15,637  
     1,239,817 
  
    President 

    Paul Tees, 
    2024  
     202,703  
     —  
     474,762  
     197,347  
     17,834  
     892,646 
  
    EVP and Chief Credit Officer 

(1)See discussion under “Annual
Bonus Payment” below.

(2)The amounts shown in this column
reflect the aggregate