Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 462

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 462
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 2023, and no OREO at December 31, 2024.

The following
tables set forth our non-performing assets, non-performing asset ratios, and net losses as a percentage of average loans for each period
presented:

    (Dollars in thousands) 
    December 31,  2024  
    December 31,  2023 
  
    Nonaccrual loans: 

    1-4 Family residential real estate 
    $149  
    $66 
  
    Commercial 
     2,726  
     1,208 
  
    Consumer and other 
     —  
     — 
  
    Construction 
     —  
     — 
  
    NOO CRE 
     —  
     — 
  
    OO CRE 
     1,119  
     — 
  
    Multifamily 
     709  
     970 
  
    Total nonaccrual loans 
     4,703  
     2,244 
  
    Accrual loans greater than 90 days past due 
     —  
     — 
  
    Total nonperforming loans (NPLs) 
     4,703  
     2,244 
  
    Other real estate owned and foreclosed assets, net 
     —  
     3,000 
  
    Total nonperforming assets (NPAs) 
    $4,703  
    $5,244 

    ACL 
     10,160  
     5,860 
  
    NPLs 
     4,703  
     2,244 
  
    ACL to NPLs 
     216.03% 
     261.14%

    NPA’s 
     4,703  
     5,244 
  
    Total Assets 
     918,095  
     581,265 
  
    NPAs to total assets 
     0.51% 
     0.90%

    NPLs 
     4,703  
     2,244 
  
    Total Gross Loans 
     676,092  
     457,027 
  
    NPLs to total loans 
     0.70% 
     0.49%

Total nonperforming
assets were $4.7 million as of December 31