Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1008

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 3
Chunk 1008
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    Corporate debt 
     —  
     889  
     —  
     889 
  
    Total available-for-sale: 
    $—  
    $78,661  
    $—  
    $78,661 

    Interest Rate Derivative Contracts – Assets 
    $—  
    $356  
    $—  
    $356 
  
    Interest Rate Derivative Contracts – Liabilities 
    $—  
    $—  
    $—  
    $— 

    Nonrecurring basis: 

    Collateral Dependent Loans 
    $—  
    $—  
    $1,805  
    $1,805 

    116

    December 31, 2023 
    Quoted Prices in Active Markets for Identical Assets Level 1  
    Significant Other Observable Inputs Level 2  
    Significant Unobservable Inputs  Level 3  
    Fair Value 
  
    Recurring: 

    Assets: 

    Securities available-for-sale: 

    Mortgage-backed securities 
    $—  
    $32,467  
    $—  
    $32,467 
  
    U.S. Treasuries 
     —  
     2,792  
     —  
     2,792 
  
    U.S. Government Agencies 
     —  
     270  
     —  
     270 
  
    Municipal obligations 
     —  
     20,328  
     —  
     20,328 
  
    Corporate debt 
     —  
     833  
     —  
     833 
  
    Total available-for-sale: 
    $—  
    $56,690  
    $—  
    $56,690 

    Nonrecurring basis: 

    Collateral dependent loans 
    $—  
    $—  
    $1,071  
    $1,071 
  
    Other Real Estate Owned 
    $—  
    $—  
    $3,000  
    $3,000 

The fair values of certain of these instruments
were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value
is the estimated amount at which financial assets or liabilities could be exchanged in a