Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 55

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 55
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the benefits of the merger may not be realized fully or at all or may take longer to realize than expected. In addition, the actual cost
savings and benefits of the merger could be less than anticipated, and integration may result in additional unforeseen expenses.

An
inability to realize the full extent of the benefits of the merger, as well as any delays encountered in the integration process, could
have an adverse effect on our revenues, levels of expenses and operating results, which may adversely affect the value of our common
stock.

It
is possible that the integration process could result in the loss of key employees, the disruption of our ongoing business or inconsistencies
in standards, controls, procedures and policies that adversely affect our ability to maintain relationships with clients, customers,
depositors and employees or to achieve the benefits and cost savings of the merger. Integration efforts may also divert management attention,
which may have an adverse effect on the combined company.

40

We
depend on our executive officers and other key employees, and our ability to attract additional key personnel, to continue the implementation
of our long-term business strategy, and we could be harmed by the unexpected loss of their services.

We believe our future
success will depend in large part on the skills of our executive officers and other key employees and our ability to motivate and retain
these individuals, as well as our ability to attract, motivate and retain highly qualified senior, middle management and other skilled
employees. Our business is primarily relationship-driven in that many of our key personnel have extensive customer or asset management
relationships. Loss of key personnel with such relationships may lead to the loss of business if the customers were to follow that employee
to a competitor or if asset management expertise was not replaced in a timely manner. Competition for employees is intense, and the process
of locating key personnel with the combination of skills and attributes required to execute our business strategy may be lengthy. We
may not be successful in retaining key personnel, and the unexpected loss of services of one or more of our key personnel could have
a material adverse effect on our business because of their skill, knowledge of our primary markets, years of industry experience and
the difficulty of promptly finding qualified replacement personnel. If the services of any of our key personnel should become unavailable
for any reason, we may not be able to identify and hire qualified persons on terms acceptable us, or at all, which could have a material
adverse effect on our business, financial condition, results of operation and future prospects.

Failure
to keep pace