Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 940

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 3
Chunk 940
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    2024  
    2023 

    Fixed  
    Variable  
    Fixed  
    Variable 
  
    Commitments to extend credit 
    $6,589  
    $27,627  
    $5,327  
    $6,966 
  
    Unused lines of credit 
     3,238  
     37,662  
     3,962  
     18,859 
  
    Totals 
    $9,828  
    $65,289  
    $9,289  
    $25,825 

Contractual
Obligations

We have entered into
contractual obligations in the normal course of business that involve elements of credit risk, interest rate risk, and liquidity risk.

The following table
summarizes our contractual obligations as of December 31, 2024, and December 31, 2023:

    Less than  
    1-3  
    3-5  
    More than 
  
    December 31, 2024 (In thousands) 
    Total  
    1 Year  
    Years  
    Years  
    5 Years 
  
    Long-term debt: 

    Subordinated debt 
     23,500  
     —  
     —  
     —  
     23,500 
  
    Trust preferred securities 
     5,000  
     —  
     —  
     —  
     5,000 
  
    Total long-term debt 
     28,500  
     —  
     —  
     —  
     28,500 
  
    Operating leases 
     4,619  
     977  
     2,238  
     1,265  
     139 
  
    Certificates of deposit1 
     241,103  
     206,159  
     30,309  
     4,635  
     0 
  
    Total 
    $274,222  
    $207,136  
    $32,547  
    $5,900  
    $28,639 

    Less than  
    1-3  
    3-5  
    More than 
  
    December 31, 202