Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 5

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 5
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 that fit the needs of our markets.

We believe the financial
services industry will likely continue to become more competitive as further technological advances enable more financial institutions
to provide expanded financial services without having a physical presence in our markets. We have focused on providing value-added products
and services to our clients, which we are able to do because of our close relationships with them. We believe our ability to provide
a flexible, sophisticated products and a customer-centric process to our customers and clients allows us to stay competitive in the financial
services environment.

Our
Banking Services

Our banking services
have been, and are, the cornerstone of our operations, through which we provide a full range of deposit and lending products. We are
dedicated to serving the banking needs of businesses, professionals and individuals in our markets through our approach of personalized,
relationship-based service. We strive to become trusted advisers to our clients and achieve long-term relationships. We deliver a wide
range of banking products and services tailored to meet the needs of our clients across our geographic footprint.

Lending
Activities

We offer a range of
lending services, including commercial and industrial loans, commercial and residential real estate loans, real estate construction loans,
and consumer loans. Our customers are generally commercial businesses, professional services and retail consumers within our market areas.

Our loan portfolio as of the date indicated
was comprised as follows:

    December 31, 2024 
  
    (In thousands) 
    Amount  
    % of total loans 
  
    1-4 Family residential real estate 
    $69,330  
     10.3%
  
    Commercial 
     109,924  
     16.3 
  
    Consumer and other 
     261  
     0.0 
  
    Construction 
     26,285  
     3.9 
  
    NOO CRE 
     258,652  
     38.3 
  
    OO CRE 
     151,399  
     22.4 
  
    Multifamily 
     60,241  
     8.8 
  
    Total gross loans 
    $676,092  
     100%

8

 Commercial
and Industrial Loans 

Our commercial and industrial
loans are typically made to small- and medium-sized manufacturing, service, wholesale and retail businesses for working capital and operation
needs and business expansions, including the purchase of capital equipment. Commercial and industrial loans include our specialty lending