Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 143

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 143
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 or accreted over the remaining
life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still
expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods
in which the hedged transactions will affect earnings.

The Company is exposed to losses if a counterparty
fails to make its payments under a contract in which the Company is in the net receiving position. We anticipate that the counterparties
will be able to fully satisfy their obligation under our derivative contracts with them. All the contracts to which we are a party have
cash flows that settle monthly.

    93

Recent
Accounting Guidance That Has Been Adopted – In November 2023, the Financial Accounting
Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280),
Improvements to Reportable Segment Disclosures. The amendments in ASU 2023-07 provide for new disclosures which: (1) require that a public
entity disclose on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision
maker (“CODM”) and included within each reported measure of segment profit or loss; (2) require that a public entity disclose,
on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition; (3) require
that a public entity provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by
Topic 280 in interim periods; (4) allows more than one measure of segment profit or loss used by the CODM when assessing segment performance
and deciding how to allocate resources to be disclosed; (5) require disclosure of title and position of CODM and explain how the CODM
uses the disclosed reported measures to assess segment performance; and (6) require that a public entity that has a single reportable
segment provide all the disclosures required by the amended Topic 280. The amendments in this update are effective for the Company for
fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early
adoption permitted. The amendments in this update are required to be applied retrospectively to all prior periods presented in the financial
statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based