Bancorp 34 appoints Ciaran McMullan as Chairman and CEO; Crotty resigns

Bancorp 34, Inc.

James Crotty resigned as CEO and director of Bancorp 34 and the Bank, effective April 1, 2024; resignation not due to disagreement.
Ciaran McMullan appointed Chairman, CEO; two-year term ending April 1, 2026; base salary $350,000; bonus up to 40% of base.
McMullan to receive three annual equity grants of 110,000, 39,000, and 26,000 shares under new equity plan.
McMullan previously CEO of Suncrest Bank; also led NAB's U.S. regional bank and chaired Great Western Bancorporation.
Under Crotty, company grew to ~$1B assets and completed merger with CBOA Financial.

item 5.02 item 9.01

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Appointed

Ciaran McMullan

Chairman and Chief Executive Officer

BCTF · Bancorp 34, Inc.

Effective: 2024-04-01
Filed: April 5, 2024, 7:59 PM ET

On April 1, 2024, the boards of directors of Bancorp 34, Inc. (the “ Company ”) and its wholly owned subsidiary, Southwest Heritage Bank (the “ Bank ”) each appointed Ciaran McMullan as the new Chairman and Chief Executive Officer of the Company and the Bank, respectively.

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Executive change SEC 8-K Item 5.02 confidence 1.0

Ciaran McMullan was appointed as Chairman and Chief Executive Officer at Bancorp 34, Inc..

Action: appointed
Role: Chairman and Chief Executive Officer

Exact text from the filing

On April 1, 2024, the boards of directors of Bancorp 34, Inc. (the “ Company ”) and its wholly owned subsidiary, Southwest Heritage Bank (the “ Bank ”) each appointed Ciaran McMullan as the new Chairman and Chief Executive Officer of the Company and the Bank, respectively.

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Bancorp 34, Inc. filing history →

Source: SEC EDGAR

accession 0001552781-24-000218

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