secwatch.observer — SEC 8-K summary
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Issuer:     Bancorp 34, Inc. (BCTF)
CIK:        0001668340
Form:       8-K
Filed at:   2024-04-05T23:59:59+00:00
Accession:  0001552781-24-000218
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668340/000155278124000218/0001552781-24-000218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668340/000155278124000218/e24167_bctf-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000218

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