Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 831

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 2
Chunk 831
---
 credit losses.

    101

Allocation of a portion of the allowance
for credit losses to one category of loans does not preclude its availability to absorb losses in other categories. The following table
presents the activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2024, and 2023, (dollars
in thousands):

Schedule of Allowance for Credit Losses 

    1–4 Family  

    NOO  
    OO  

    Residential  
       
    Consumer  
       
    Commercial  
    Commercial  

    Real Estate  
    Commercial  
    and Other  
    Construction  
    Real Estate  
    Real Estate  
    Multifamily  
    Total 
  
    Changes in allowance for credit losses for the year ended December 31, 2024 

    Beginning balance 
    $736  
    $924  
    $8  
    $512  
    $1,859  
    $1,201  
    $620  
    $5,860 
  
    Acquisition of CBOA Financial PCD Loans 
     34  
     777  
     1  
     258  
     83  
     11  
     —  
     1,164 
  
    Provision (credit) for loan losses 
     61  
     1,544  
     (4) 
     (400) 
     1,662  
     706  
     33  
     3,602 
  
    Loans charged off 
     —  
     (890) 
     (2) 
     —  
     —  
     —  
     —  
     (892)
  
    Recoveries 
     28  
     398  
     —  
     —  
        
     —  
     —  
     426 
  
    Balance on December 31, 2024 
    $859  
    $2,753  
    $3  
    $370  
    $3,604  
    $1,918  
    $653  
    $10,160 

    1–4 Family Residential Real Estate  
    Commercial  
    Consumer and Other