Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 318

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1A
Chunk 318
---
Contents

    Page
  
    Report of Independent Registered Public Accounting Firm (PCAOB ID #166)
    78
  
    Financial
    Statements

    Consolidated Balance Sheets
    81
  
    Consolidated
    Statements of Income (Loss)
    83

    Consolidated Statements of Comprehensive Income (Loss)
    84
  
    Consolidated Statements of Changes in Stockholders’ Equity
    85
  
    Consolidated Statements of Cash Flows
    87
  
    Notes to Consolidated Financial Statements
    88

77

Report
of Independent Registered Public Accounting Firm

To
the Shareholders and the Board of Directors

Bancorp
34, Inc.

Opinion
on the Consolidated Financial Statements

We
have audited the accompanying consolidated balance sheets of Bancorp 34, Inc. (the “Company”) as of December 31, 2024
and 2023 and the related consolidated statements of comprehensive (loss) income, changes in shareholders’ equity, and cash
flows for each of the years in the two-year period ended December 31, 2024; and the related notes (collectively referred to as the
“financial statements”). In our opinion, the financial statements referred to above present fairly, in all material
respects, the financial position of the Company as of December 31, 2024 and 2023 and the results of its operations and its cash
flows for each of the years in the two-year period ended December 31, 2024 in conformity with accounting principles generally
accepted in the United States of America.

Basis
for Opinion

The
Company's management is responsible for these consolidated financial statements. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (the “PCAOB”) and are required to be independent with respect to the Company in accordance with U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits