Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1708

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7A
Chunk 1708
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 Continued Unrealized Loss for 12 Months or More  
    Total 
  
    Description of securities 
    Fair Value  
    Unrealized Loss  
    Fair Value  
    Unrealized Loss  
    Fair Value  
    Unrealized Loss 
  
    Available-for-sale, December 31, 2023 

    Mortgage-backed securities 
    $—  
    $—  
    $30,462  
    $(4,362) 
    $30,462  
    $(4,362)
  
    U.S. Treasuries 
     —  
     —  
     2,792  
     (277) 
     2,792  
     (277)
  
    U.S. government agencies 
     —  
     —  
     270  
     (17) 
     270  
     (17)
  
    Municipal obligations 
     —  
     —  
     20,328  
     (2,593) 
     20,328  
     (2,593)
  
    Corporate debt 
     —  
     —  
     833  
     (167) 
     833  
     (167)

    Total temporarily impaired 
    $—  
    $—  
    $54,685  
    $(7,416) 
    $54,685  
    $(7,416)

    Held
    to Maturity December 31, 2023

    Corporate
    debt
     
    $
    904

    $
    (96
    )
     
    $
    4,203

    $
    (596
    )
     
    $
    5,107

    $
    (692
    )
  
    Total
    temporarily impaired
     
    $
    904

    $
    (96
    )
     
    $
    4,203

    $
    (596
    )
     
    $
    5,107

    $
    (692
    )

Unrealized losses on U.S. Treasury bonds
and U.S. Agency bonds have not been recognized through the income statement due to the bonds being backed in full by the United States
government. Management has no intent to sell the securities, the Company can hold the securities to maturity, and the decline in fair