Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 835

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 2
Chunk 835
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 $123,830  
    $50,977  
    $29,080  
    $54,905  
    $19,187  
    $779  
    $457,027 

    Total year-to-date gross write-offs 
    $3,382  
    $—  
    $—  
    $—  
    $321  
    $—  
    $—  
    $—  
    $3,703 

    105

Non-accrual
loans – The accrual of interest on loans is discontinued at the time the loan becomes 90
or more days delinquent unless the loan is well secured and in the process of collection or renewal due to maturity. Past due status
is based on the contractual terms of the loan. In all cases, loans are placed on non-accrual status or charged off if collection of interest
or principal is considered doubtful. There was no interest income recognized from non-accrual loans in the income statement for the years
ended December 31, 2024, or December 31, 2023, and non-accrual loans totaled $4.0 million at January 1, 2023. The following
presents the amortized cost basis of loans on non-accrual status and loans past due over 89 days still accruing by class as of the date
noted (dollars in thousands).

Schedule of Nonaccrual
Loans

    As of December 31, 2024 

    Non-accrual loans  
       
    Loans past due 

    with  
    Total non-accrual  
    over 89 days and 

    no ACL  
    loans  
    still accruing 
  
    1-4 Family residential real estate 
    $149  
    $149  
    $— 
  
    Commercial 
     1,716  
     2,726  
     — 
  
    Consumer and other 
     —  
     —  
     — 
  
    Construction 
     —  
     —  
     — 
  
    NOO CRE 
     —  
     —  
     — 
  
    OO CRE 
     1,119  
     1,119  
     —