Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 473

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 473
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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, 2023 (In thousands) 
    Total  
    1 Year  
    Years  
    Years  
    5 Years 
  
    Long-term debt: 

    FRB term advances 
    $29,000  
    $29,000  
    $—  
    $—  
    $— 
  
    Subordinated debt 
     25,000  
     —  
     —  
     —  
     25,000 
  
    Total long-term debt 
     54,000  
     29,000  
     —  
     —  
     25,000 
  
    Operating leases 
     2,011  
     251  
     602  
     680  
     478 
  
    Certificates of deposit 
     128,403  
     93,675  
     30,390  
     4,338  
     0 
  
    Total 
    $184,414  
    $122,926  
    $30,992  
    $5,018  
    $25,478 

(1)The
                                            CD fair value mark resulting from the merger is considered immaterial and excluded from this
                                            analysis. 

75

Item
7-A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market risk is the risk
of reduced earnings and/or declines in the net market value of the balance sheet due to changes in market rates. Our primary market risk
is interest rate risk which