Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 860

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 2
Chunk 860
---
 is the ownership and management of its wholly-owned subsidiary, the Bank. As a community-oriented
financial institution, substantially all of the Company’s operations involve the delivery of loan and deposit products to customers.
Management makes operating decisions and assesses performance based on an ongoing review of these banking operations, which constitute
the Company’s only operating segment for financial reporting purposes.

The Company’s
chief operating decision maker is comprised of the executive leadership team. For the Company, the executive leadership team net interest
income after provision and income (loss) before provision for income taxes to allocate resources for in the annual budget
and forecasting process. The chief operating decision maker considers budget-to-actual variances on a monthly basis for profit measures
when making decisions about allocating capital and personnel to the operating segment. For the Bank, the executive leadership team uses
net-interest income and non-interest income to allocate resources (including employees, financial, or capital resources) to that segment
in the annual budget and forecasting process and uses that measure as a basis for evaluating lending terms for customer loans.

The
following tables present information about reported segment revenue, measures of a segment’s profit or loss, and significant
segment expenses for the years ended December 31, 2024, and December 31, 2023. The Company does not allocate all holding company
expenses, income taxes, or unusual items to the reportable segment.

    119

The following tables present the
reconciliations of reportable segment revenues and measures of profit or loss and line-item reconciliation to the Company’s consolidated
financial statement totals.

Schedule of Segment Reporting

    Unallocated 
Holding
 Company  
    Eliminations  
    Total 
  
    For the year ended December 31, 2024 
    Bank  
    Amounts  

    Interest and dividend income: 

    Interest and fees on loans 
    $44,013  
    $—  
    $—  
    $44,013 
  
    Interest on securities 
     2,164  
     —  
     —  
     2,164 
  
    Interest on other interest-earning assets 
     4,608  
     —  
     —  
     4,608 
  
    Interest on ESOP Loan 
     —  
     130  
     (130) 
     — 
  
    Total interest income 
     50,785  
     130