secwatch.observer — SEC 8-K summary
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Issuer:     Bancorp 34, Inc. (BCTF)
CIK:        0001668340
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0001552781-24-000093
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bancorp 34 reports Q4 net loss $1.7M; merger with CBOA expected to close March 2024
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- Net loss $1.7M, diluted EPS ($0.40), vs ($1.9M) and ($0.81) in Q4 2022.
- Total assets $581.3M, up $6.9M YoY; deposits declined $27.6M.
- Merger with CBOA (Commerce Bank of Arizona) on track to close March 2024; combined bank to rebrand as Southwest Heritage Bank.
- Problem credit transferred to OREO at $3M; loss on credit $3.4M in Q4; note sold Feb 2024 for $2.5M.
- Merger expenses $1.7M in Q4, $3M full year; tangible book value $12.94/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668340/000155278124000093/0001552781-24-000093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668340/000155278124000093/e24099_bctf-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000093

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer