---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-23-000482"
form_type: "8-K"
ticker: "BCTF"
cik: "0001668340"
company_name: "Bancorp 34, Inc."
filed_at: "2023-12-22T23:59:59+00:00"
generated_at: "2026-06-07T08:00:27.114441+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Bancorp 34 reports revised Q3 net loss of $2.3M due to loan loss provision; amends merger ratio with CBOA

## Summary
- Revised Q3 2023 net loss of $2.3M (-$0.52 EPS) vs previously reported net income of $3,000.
- Provision for one commercial real estate credit placed on non-accrual drove revision; credit deterioration existed at Sep 30.
- First nine months 2023 net loss revised to $1.7M (-$0.48 EPS) from previously reported net income of $0.6M.
- Merger agreement amended: exchange ratio increased to 0.2628 BCTF shares per CBOA share (from 0.24); outside date extended to June 28, 2024.
- Companies anticipate shareholder vote and closing in Q1 2024.

## SEC filing metadata
- accession: 0001552781-23-000482
- form_type: 8-K
- ticker: BCTF
- cik: 0001668340
- company_name: Bancorp 34, Inc.
- filed_at: 2023-12-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1668340/000155278123000482/0001552781-23-000482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1668340/000155278123000482/e23496_bctf-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-23-000482
- JSON: https://secwatch.observer/filing/0001552781-23-000482.json
- Plain text: https://secwatch.observer/filing/0001552781-23-000482.txt

## Key facts
- Material Agreements
  Bancorp 34, Inc. amended Amendment No. 1 to Agreement and Plan of Merger with CBOA Financial, Inc. (effective 2023-12-21).
  - Action: amendment
  - Agreement: merger
  - Counterparty: CBOA Financial, Inc.
  - Effective: 2023-12-21
  source text: (the “Company”) and CBOA Financial, Inc. (“CBOA”) dated as of April 27, 2023. The Merger Agreement was included as Annex A to the proxy statement prospectus contained in the Company’s Registration Statement on
  evidence_url: https://www.sec.gov/Archives/edgar/data/1668340/000155278123000482/0001552781-23-000482-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.