Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 184

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 184
---
 the next
four years as follows (dollars in thousands):

Schedule
of Unrecognized Equity-Based Expense under 2017 Equity Incentive Plan

    Year 

    2025 
    $625 
  
    2026 
     625 
  
    2027 
     618 
  
    2028 
     4 
  
    Totals 
    $1,872 

Expense for the performance restricted
stock awards are recognized when it is probable that the performance conditions will be achieved. There are several performance conditions
that are not deemed probable to achieve as of December 31, 2024, so no expense related to the unachieved grants is included in the table
above. Should the performance conditions be met an additional $1.7 in expense would be recognized over the expected life the agreements.

Note
16 – Fair Value Information

The following table presents information
about assets and liabilities measured at fair value on a recurring and non-recurring basis and indicates the fair value hierarchy of
the valuation techniques utilized to determine such fair values (dollars in thousands): 

Schedule of Assets and Liabilities measured at Fair Value

    December 31, 2024 
    Quoted Prices in Active Markets for Identical Assets Level 1  
    Significant Other Observable Inputs Level 2  
    Significant Unobservable Inputs  Level 3  
    Fair Value 
  
    Recurring: 

    Securities available-for-sale: 

    Mortgage-backed securities 
    $—  
    $44,859  
    $—  
    $44,859 
  
    U.S. Treasuries 
     —  
     2,838  
     —  
     2,838 
  
    U.S. Government Agencies 
     —  
     196  
     —  
     196 
  
    Asset-backed securities 
     —  
     10,476  
     —  
     10,476 
  
    Municipal obligations 
     —  
     19,133  
     —  
     19,133 
  
    Corporate debt 
     —  
     889  
     —  
     889 
  
    Total available-for-sale: 
    $—  
    $78,661  
    $—  
    $78,661 

    Interest Rate Derivative Contracts – Assets