Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 166

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 166
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    OO CRE 
     —  
     —  
     — 
  
    Multifamily 
     970  
     970  
     — 

    Total 
    $1,883  
    $2,244  
    $— 

Non-accrual loan balances guaranteed by
the SBA are $1,999,000, or 42.5%, and $589,000, or 26.3%, of the nonaccrual loan balances at December 31, 2024, and December
31, 2023, respectively.

Collateral
dependent loans – Non-accrual loans are classified as collateral dependent loans and are
individually evaluated. The following presents the amortized cost basis of collateral-dependent loans, which are individually evaluated
to determine expected credit losses by class of loans as of the date noted (dollars in thousands):

Schedule
of Collateral Dependent Loans

    As of December 31, 2024 Collateral Dependent Loans 

    Secured by  
    Secured by  

    Real Estate  
    Other  
    Total 
  
    1-4 Family residential real estate 
    $149  
    $—  
    $149 
  
    Commercial 
     —  
     2,726  
     2,726 
  
    Consumer and other 
     —  
     —  
     — 
  
    Construction 
     —  
     —  
     — 
  
    NOO CRE 
     —  
     —  
     — 
  
    OO CRE 
     1,119  
     —  
     1,119 
  
    Multifamily 
     709  
     —  
     709 

    Total 
    $1,977  
    $2,726  
    $4,703 

    106

Loan
Modifications Made to Borrowers Experiencing Financial Difficulty – The ACL incorporates
an estimate of lifetime expected credit losses and is recorded on each asset upon origination. The analysis includes losses from modifications
of receivables to borrowers experiencing financial difficulty. Because the effect of most modifications made to borrowers experiencing
financial difficulty is already included in the ACL, a change to the ACL is generally not recorded when a loan is modified. Currently,
the bank does