Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 480

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 480
---
 at fair value 
     78,661  
     56,690 

    Held-to-maturity securities, at amortized cost, net of allowance for credit losses 
     5,665  
     5,684 

    Loans held for investment 
     676,092  
     457,027 
  
    Allowance for credit losses 
     (10,160) 
     (5,860)

    Loans held for investment, net 
     665,932  
     451,167 

    Other real estate owned 
     —  
     3,000 
  
    Premises and equipment, net 
     8,414  
     7,350 
  
    Operating leases right-of-use assets 
     4,069  
     1,819 
  
    Other investments 
     6,244  
     4,063 
  
    Accrued interest receivable 
     2,613  
     1,597 
  
    Deferred income tax asset, net 
     9,027  
     4,884 
  
    Bank owned life insurance 
     12,063  
     11,847 
  
    Core deposit intangible, net 
     7,589  
     — 
  
    Prepaid and other assets 
     4,223  
     4,267 
  
    Total assets 
    $918,095  
    $581,265 

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

81

Consolidated
Balance Sheets (Continued)

(Dollars
in Thousands, except Share data)

December
31, 2024, and December 31, 2023

    December 31, 2024  
    December 31, 2023 
  
    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    LIABILITIES 

    Deposits 

    Demand deposits 
    $218,589  
    $88,091 
  
    Savings and NOW deposits 
     332,923  
     243,505 
  
    Time deposits 
     241,055  
     128,403 
  
    Total deposits 
     792,567  
     459,999 

    Federal Reserve Bank BTFP Advances 
     —  
     29,