Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 631

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1C
Chunk 631
---
     —  
     —  
     28,500 
  
    Operating leases 
     4,619  
     977  
     2,238  
     1,265  
     139 
  
    Certificates of deposit1 
     241,103  
     206,159  
     30,309  
     4,635  
     0 
  
    Total 
    $274,222  
    $207,136  
    $32,547  
    $5,900  
    $28,639 

    Less than  
    1-3  
    3-5  
    More than 
  
    December 31, 2023 (In thousands) 
    Total  
    1 Year  
    Years  
    Years  
    5 Years 
  
    Long-term debt: 

    FRB term advances 
    $29,000  
    $29,000  
    $—  
    $—  
    $— 
  
    Subordinated debt 
     25,000  
     —  
     —  
     —  
     25,000 
  
    Total long-term debt 
     54,000  
     29,000  
     —  
     —  
     25,000 
  
    Operating leases 
     2,011  
     251  
     602  
     680  
     478 
  
    Certificates of deposit 
     128,403  
     93,675  
     30,390  
     4,338  
     0 
  
    Total 
    $184,414  
    $122,926  
    $30,992  
    $5,018  
    $25,478 

(1)The
                                            CD fair value mark resulting from the merger is considered immaterial and excluded from this
                                            analysis. 

75

Item
7-A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market risk is the risk
of reduced earnings and/or declines in the net market value of the balance sheet due to changes in market rates. Our primary market risk
is interest rate risk which impacts our net interest income, fee income related to