Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 170

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 170
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 is not consolidated in the financial
statements. Rather the subordinated debentures are shown as a liability. The remaining Merger-related fair value mark on the CBOA Financial
Statutory Trust #1 subordinated debt was $952,000 as of December 31, 2024.

Maturities of outstanding borrowings as
of December 31, 2024, were (dollars in thousands):

Schedule of maturities
of outstanding borrowings

    One year or less 
    $0 
  
    Over one through three years 
     0 
  
    Over three through five years 
     0 
  
    Over five through ten years 
     23,500 
  
    Over ten years 
     5,000 
  
    Totals 
    $28,500 

NOTE 8 –
FINANCIAL INSTRUMENTS WITH OFF BALANCE SHEET RISK

In the normal course of business, and from
time to time, the Bank has had outstanding commitments to extend credit and standby letters of credit which, consistent with GAAP,
are not reflected in the accompanying consolidated financial statements. The Bank’s exposure to credit loss in the event of
nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented
by the contractual or notional amounts of those instruments. The Bank uses the same credit policies in making commitments as it does
for instruments that are included in the consolidated balance sheets.

Contractual or notional amounts of financial
instruments representing off-balance-sheet credit risk are as follows as of the dates indicated (dollars in thousands):

Schedule of  Financial Instruments with Off-Balance-Sheet Risk

    December 31, 2024  
    December 31, 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 

    108

The following table presents the changes
in the ACL on unfunded loan commitments for the year ended