Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 75

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 75
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34 believes that requiring these claims to be filed in the state of Maryland is advisable because (i) doing so avoids unnecessarily redundant,
inconvenient, costly, unnecessary, time-consuming and sometimes lawyer-driven litigation in multiple forums and (ii) Maryland courts
are authoritative on matters of Maryland law and Maryland judges have more experience in dealing with issues of Maryland corporate law
than judges in any other state.

This exclusive forum
provision may limit a stockholder’s ability to bring a claim in a judicial forum that the stockholder believes is favorable for
disputes with Bancorp 34 or its directors, officers or employees, which may discourage meritorious claims from being asserted against
Bancorp 34 and its directors, officers and employees or may cause a stockholder to incur additional expenses by having to bring a claim
in a judicial forum that is different from where the stockholder resides, or both. Alternatively, if a court were to find this provision
of the Bancorp 34 articles of incorporation inapplicable to, or unenforceable in respect of, one or more of the specified types of actions
or proceedings, Bancorp 34 may incur additional costs associated with resolving such matters in other jurisdictions, which could adversely
affect its business, financial condition, or results of operations.

52

Item
1B. Unresolved Staff Comments

None.

Item
1C. Cybersecurity

Overview

The
cybersecurity threat environment is volatile and dynamic, requiring a robust and dynamic framework to reduce and mitigate cybersecurity
risk. Cybersecurity risk includes exposure to failures or interruptions of service or security breaches resulting from malicious technological
attacks that impact the confidentiality, integrity, or availability of our or third parties’ operations, systems, or data. We seek
to mitigate cybersecurity risk and associated reputational and compliance risk by, among other things:

    ·
    maintaining privacy policies, management
    oversight, accountability structures, and technology design processes to protect private and personal data;

    ·
    actively monitoring and mitigating cybersecurity
    threats and risks with a defense structure to provide oversight, governance, challenge, and testing;

    ·
    using a third-party cybersecurity oversight program
    to effectively discover, analyze and understand cyber threats;

    ·
    maintaining oversight of our information security
    program by senior management, our board-level Information Security Committee, and our Board of Directors;

    ·
    establishing and maintaining a comprehensive program
    to oversee and manager external connections and third-party relationships with access