Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 386

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1A
Chunk 386
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The estimated fair values of the Company’s
consolidated financial instruments on the dates noted are as follows (dollars in thousands): 

Schedule
of Fair Value of Financial Instruments

    December 31,  
    December 31, 

    2024  
    2023 

    Fair Value Hierarchy 
    Carrying Amount  
    Fair Value  
    Carrying Amount  
    Fair Value 
  
    Financial assets 

    Cash and due from banks 
    Level 1 
    $111,510  
    $111,510  
    $27,182  
    $27,182 
  
    Federal funds sold 
    Level 2 
     2,085  
     2,085  
     1,715  
     1,715 
  
    Securities available-for-sale 
    Level 2 
     78,661  
     78,661  
     56,690  
     56,690 
  
    Securities held-to-maturity 
    Level 2 
     5,665  
     5,299  
     5,684  
     5,107 
  
    Loans held for investment 
    Level 3 
     665,932  
     655,177  
     451,167  
     437,878 
  
    Other investments 
    Level 2 
     6,244  
     6,244  
     4,063  
     4,063 
  
    Accrued interest receivable 
    Level 1 
     2,613  
     2,613  
     1,597  
     1,597 
  
    Derivative 
    Level 3 
     356  
     356  
     —  
     — 

    Financial liabilities 

    Nonmaturity Deposits 
    Level 1 
    $(551,512) 
    $(551,512) 
    $(331,596) 
    $(331,596)
  
    Time deposits 
    Level 2 
     (241,055) 
     (241,188) 
     (128,403) 
     (128,108)
  
    FRB and FHLB advances 
    Level 2 
     —