Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1126

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 4
Chunk 1126
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     —  
     30,927 
  
    Debt securities available-for-sale, at fair value 
     58,220  
     —  
     58,220 
  
    Loans: 

    Purchased performing 
     284,723  
     —  
     284,723 
  
    Purchased credit deteriorated 
     26,163  
     —  
     26,163 
  
    Allowance for credit losses on loans 
     —  
     —  
     — 
  
    Deferred Loan Fees 
     —  
     —  
     — 
  
    Deferred tax on assets acquired 
     1,233  
     (157) 
     1,076 
  
    Operating right-of-use assets 
     2,866  
     —  
     2,866 
  
    Core deposit intangibles 
     8,930  
     —  
     8,930 
  
    Other assets 
     6,264  
     39  
     6,303 
  
    Total identifiable assets acquired 
    $419,326  
    $(118) 
    $419,208 

    Identifiable liabilities assumed: 

    Deposits 
     346,743  
     —  
     346,743 
  
    Short-term borrowings 
     35,000  
     —  
     35,000 
  
    Long-term borrowings 
     4,143  
     —  
     4,143 
  
    Deferred taxes on liabilities assumed 
     253  
     —  
     253 
  
    Other liabilities 
     4,741  
     —  
     4,741 
  
    Total identifiable liabilities assumed 
    $390,880  
    $—  
    $390,880 

    Net identifiable assets acquired 
    $28,446  
    $(118) 
    $28,328 

    Preliminary bargain purchase gain 
    $(5,136) 
    $118  
    $(5,018)

Purchased
Performing Loans (Non-Purchased Credit Deteriorated Loans)

Non-purchased credit deteriorated loans
(“non-PCD loans”) are loans, as of the date of