Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1260

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 5
Chunk 1260
---
 stock for the CBOA
    Merger, (Note 2) 
     2,742,244  
     —  
     —  
     27  
     —  
     —  
     23,283  
     —  
     —  
     —  
     23,310 

    BALANCE, DECEMBER 31, 2024 
     6,665,415  
     820,115  
     —  
    $67  
    $8  
    $—  
    $67,315  
    $25,990  
    $(5,578) 
    $(1,287) 
    $86,515 

The
accompanying notes are an integral part of the consolidated financial statements.

86

Consolidated
Statements of Cash Flows

(Dollars
in Thousands)

For
years ended December 31, 2024, and 2023 

    Years ended December 31, 

    2024  
    2023 
  
    CASH FLOWS FROM OPERATING ACTIVITIES 

    Net income (loss) 
    $1,689  
    $(3,402)
  
    Adjustments to reconcile net income (loss) to net cash provided by operating activities 

    Depreciation and amortization 
     1,050  
     583 
  
    Stock dividends on other investments 
     (331) 
     (71)
  
    Amortization of premiums and discounts on securities, net 
     121  
     265 
  
    Amortization of equity awards 
     813  
     150 
  
    Originations of loans held for sale 
     (2,518) 
     (1,316)
  
    Gain on sale of loans 
     (28) 
     (32)
  
    Proceeds from sale of loans 
     3,741  
     1,367 
  
    Loss on sale other real estate owned 
     432  
     — 
  
    Provision for credit losses 
     3,825  
     4,223 
  
    Net appreciation on bank-owned life insurance 
     (370) 
     (248)
  
    Deferred income tax (benefit) 
     (1