Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1009

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 3
Chunk 1009
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 current transaction between willing parties,
other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management
does not intend to sell these financial instruments, the Bank does not know whether the fair values shown represent values at which the
respective financial instruments could be sold individually or in the aggregate.

There were no transfers between levels of
the fair value hierarchy during the years ended December 31, 2024, or 2023.

The following table presents the significant
unobservable inputs used in the fair value measurements for Level 3 financial assets measured on a non-recurring basis (dollars in thousands):

Fair Value Measurement Inputs and
Valuation Techniques

    December
    31, 2024
     
    Fair
    Value

    Valuation
    Methodologies
     
    Valuation
    Model
     
    Unobservable
    Input
    Valuation

    Collateral
    Dependent Loans
    Commercial

    1,805

    Appraisal/Borrower
    Financial Statements
     
    Receivables
    Discount/Liquidation Discount
     
    0–25
    %
  
    Total
    collateral dependent loans
     
    $
    1,805

    December
    31, 2023
     
    Fair
    Value

    Valuation
    
    Methodologies
     
    Valuation
    Model
     
    Unobservable
    Input 
    Valuation

    Collateral
    Dependent Loans
    Commercial

    1,071

    Appraisal/Borrower
    Financial Statements
     
    Receivables
    Discount/Liquidation Discount
     
    0–50
    %
  
    Total
    collateral dependent loans
     
    $
    1,071

    Other
    Assets

    Other
    Real Estate Owned
     
    $
    3,000

    Appraisal
     
    Appraisal
    Discount/Estimated Selling Costs
     
    23
    %

    117

The estimated fair values of the Company’s
consolidated financial instruments on the dates noted are as follows (dollars in thousands): 

Schedule
of Fair Value of Financial Instruments

    December 31,  
    December 31, 

    2024  
    2023 

    Fair Value Hierarchy 
    Carrying Amount