Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 189

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 189
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     820  
     373 

    Basic earnings per common share - Voting 
    $0.25  
    ($0.88)
  
    Basic earnings per common share - Non-Voting 
    $0.25  
    ($0.88)
  
    Diluted earnings per common share - Voting 
    $0.25  
    ($0.88)
  
    Diluted earnings per common share - Non-Voting 
    $0.25  
    ($0.88)

Participating securities are restricted
stock awards since they participate in common stock dividends. Stock options for 45,000
and 112,500
shares of common stock and warrants totaling 211,667
and 211,667
were not considered in computing diluted earnings per common share for 2024 and 2023, because
they were antidilutive.

Performance restricted shares of 51,100
that have already vested as a result of meeting performance conditions are included in computing basic earnings per common share for
2024. Performance restricted shares totaling 70,800 shares subject only to service-based vesting were not considered in computing diluted
earnings per common share for 2024 because they were antidilutive. Performance restricted stock awards for 76,800 shares were not considered
in computing diluted earnings per common share for 2024 as they are considered contingently issuable shares due to certain performance
conditions not being met.
Note
18 – Segment Reporting

The Company is a bank
holding company, whose principal activity 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