{"schema_version":"secwatch.filing_event.v1","accession":"0001552781-24-000246","form_type":"8-K","ticker":"BCTF","cik":"0001668340","company_name":"Bancorp 34, Inc.","filed_at":"2024-04-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.504548+00:00","generated_at":"2026-06-03T09:42:38.222234+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Bancorp 34 Reports CEO James Crotty's Resignation and Separation Agreement","bullets":["CEO James Crotty resigned effective April 1, 2024; replaced by Ciaran McMullan as Chairman and CEO of Bancorp 34 and Southwest Heritage Bank.","Separation agreement provides $320,000 severance, $22,500 prorated bonus, $80,000 retention bonus installments, and $3,500 attorney fees.","Company accelerates vesting of 18,600 unvested stock options and 5,289 restricted shares; extends option exercise period to April 1, 2025.","Non-competition provision waived; company will pay COBRA premiums for up to 18 months.","Crotty releases all claims; separation agreement dated April 18, 2024 filed as exhibit."],"urls":{"canonical":"https://secwatch.observer/filing/0001552781-24-000246","json":"https://secwatch.observer/filing/0001552781-24-000246.json","markdown":"https://secwatch.observer/filing/0001552781-24-000246.md","text":"https://secwatch.observer/filing/0001552781-24-000246.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1668340/000155278124000246/0001552781-24-000246-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1668340/000155278124000246/e24202_bctf-8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T09:42:38.222234+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"36330d34cb","claim":"Ciaran McMullan was appointed as Chairman and Chief Executive Officer at Bancorp 34, Inc..","evidence_excerpt":"Ciaran McMullan was appointed as Chairman and Chief Executive Officer of the Company and the Bank effective as of April 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1668340/000155278124000246/0001552781-24-000246-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chairman and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"776a211131","claim":"James T. Crotty resigned as Chief Executive Officer at Bancorp 34, Inc..","evidence_excerpt":"James T. Crotty, the Chief Executive Officer of the Company and Southwest Heritage Bank (the “Bank”), resigned from those positions as well as from his positions as a member of the boards of directors of the Company and the Bank, effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1668340/000155278124000246/0001552781-24-000246-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}