Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 196

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 196
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 income taxes 
     846  
     340 

    Net income (loss) 
    $1,689  
    $(3,402)

    122

Condensed Statements of Cash Flows

    Year Ended December 31, 
  
    Statement of Cash Flows 
    2024  
    2023 
  
    Operating activities 

    Net income (loss) 
    $1,689  
    $(3,402)
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities 

    Amortization of subordinated debt issuance costs 
     54  
     64 
  
    Fair value amortization of CBOA TRUPs 
     60  
     — 
  
    Bargain purchase gain from CBOA Financial, Inc. merger 
     (5,018) 
     — 
  
    Equity in loss (income) of subsidiary bank 
     480  
     1,680 
  
    Changes in prepaid and other assets 
     (239) 
     (354)
  
    Changes in accrued interest and other liabilities 
     (111) 
     (348)

    Net cash used in operating activities 
     (3,085) 
     (2,360)

    Investing activities 

    Principal collections on ESOP note receivable 
     23  
     27 
  
    CBOA merger cash acquired 
     25  
     — 
  
    Other investment contributions 
     (232) 
     (494)
  
    Capital contribution to bank subsidiary 
     (10,000) 
     (10,000)

    Net cash used in investing activities 
     (10,184) 
     (10,467)

    Financing activities 

    Retirement of subordinated debt acquired in CBOA merger 
     (1,500) 
     — 
  
    Repurchase of common stock 
     —  
     (210)
  
    Issuance of common stock, net 
     —  
     10,866 
  
    Issuance of preferred stock, net 
     —  
     4,176 
  
    Cash dividends paid 
     —  
     (656)

    Net cash (used in) provided by financing activities 
     (1,500) 
     14