Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 460

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 460
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 151,399 
  
    Multifamily 
     6,251  
     27,878  
     5,752  
     16,894  
     3,466  
     0  
     0  
     60,241 
  
    Total gross loans 
    $81,538  
    $214,222  
    $46,257  
    $132,270  
    $169,106  
    $7,736  
    $24,963  
    $676,092 

Allocation
of Allowance for Credit Losses

The
following tables present the allocation of the ACL on loans held-for-investment and the percentage of the total amount of loans held-for-investment
in each category listed and as of the dates indicated:

    December 31, 2024  
    December 31, 2023 
  
    (Dollars in thousands) 
    Allowance Amount  
    % of Portfolio  
    Allowance Amount  
    % of Portfolio 
  
    1-4 Family residential real estate 
    $859  
     1.24% 
    $736  
     1.19%
  
    Commercial 
     2,753  
     2.50% 
     924  
     1.84%
  
    Consumer and other 
     3  
     1.15% 
     8  
     1.15%
  
    Construction 
     370  
     1.41% 
     512  
     1.48%
  
    NOO CRE 
     3,604  
     1.39% 
     1,859  
     1.10%
  
    OO CRE 
     1,918  
     1.27% 
     1,201  
     1.46%
  
    Multifamily 
     653  
     1.08% 
     620  
     1.02%
  
    Total 
    $10,160  
     1.50% 
    $5,860  
     1.28%

The ACL increased
by $4.3 million during the year ended December 31, 2024, primarily reflecting impacts from the March 19, 2024, CBOA Merger as