secwatch.observer — SEC 8-K summary
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Issuer:     Bancorp 34, Inc. (BCTF)
CIK:        0001668340
Form:       8-K/A
Filed at:   2024-05-31T23:59:59+00:00
Accession:  0001552781-24-000372
Event type: m_and_a
Sentiment:  negative
Materiality: 0.60
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bancorp 34 files CBOA audited financials: net income $2.4M in 2023, down 30% YoY
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- CBOA total assets $434.8M, deposits $339.8M, loans $324.6M as of Dec 31, 2023.
- Net income $2.426M ($0.23 EPS) in 2023 vs $3.462M ($0.35 EPS) in 2022, down 30%.
- Net interest income rose 9.8% to $16.3M; non-interest expense up 21.5% to $13.4M.
- Adopted CECL on Jan 1, 2023; allowance for credit losses $3.85M (1.19% of loans).
- Merger of CBOA into Bancorp 34 completed March 19, 2024; financials provided as amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1668340/000155278124000372/0001552781-24-000372-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1668340/000155278124000372/e24268_bctf-8ka.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000372

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