Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 402

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1A
Chunk 402
---
Manager of the Large Corporate Banking Group. Mr. Webster previously
held various leadership roles with The FINOVA Group, formerly a Phoenix headquartered middle-market commercial finance company.

126

Biographical
Information for Executive Officers

Our executive officers
are:

    Name
     
    Age
     
    Position
  
    Ciaran
    McMullan
     
    56
     
    Chief
    Executive Officer of Bancorp 34 and the Bank

    Chris
    Webster
     
    72
     
    President
    of the Bank

    Paul
    Tees
     
    55
     
    Chief
    Credit Officer of the Bank

Because Mr. McMullan
and Mr. Webster also serve on our board of directors, we have provided biographical information for them above. Biographical information
for Mr. Tees is provided below:

Paul
Tees currently serves as Executive Vice President and Chief Credit Officer of the Bank,
a position he has held since 2024. Mr. Tees previously served as Chief Credit Officer of Commerce Bank of Arizona (CBAZ) prior to its
merger with Bank 34. He has over 30 years of experience in the commercial finance and banking industries in Arizona having worked at
BMO Private Bank, National Bank of Arizona, U.S. Bank, and BBVA Compass during his career. He has held positions in credit administration,
commercial real estate lending, commercial lending, and wealth management. Prior to joining Commerce Bank of Arizona in 2019, Tees was
the CFO of Kiernan Family Holdings, where he was responsible for negotiating and structuring debt facilities for a $400MM real estate
portfolio. He holds a Bachelor of Science degree in finance and a Master of Business Administration (MBA) from the W.P. Carey School
of Business at Arizona State University.

Code
of Ethics

Bancorp 34’s Board
of Directors approved and adopted a Code of Ethics applicable to all of our directors, executive officers and employees. The full text
of the Code of Ethics is attached hereto as Exhibit 14.1 and is incorporated herein by reference.

Item
11. Executive Compensation

Compensation
of Executive Officers

In this Annual Report
on Form 10-K, we refer to the individuals who served as our principal executive officer and our two other most highly compensated executive
officers, as the “named executive officers.” Our named executive officers as of December 31,