Bancorp 34, Inc. — fact timeline

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

“Ciaran McMullan was appointed as Chairman and Chief Executive Officer of the Company and the Bank effective as of April 1, 2024.”

James T. Crotty resigned as Chief Executive Officer at Bancorp 34, Inc..

“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.”

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

“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.”

Bancorp 34, Inc. shareholders approved Adoption of Merger Agreement under which CBOA will merge with and into Bancorp 34 with Bancorp 34 as the surviving corporation in the merger at the 2024-03-18 meeting.

“Proposal 1 – Merger Proposal Bancorp 34’s stockholders adopted the Merger Agreement under which CBOA will merge with and into Bancorp 34 with Bancorp 34 as the surviving corporation in the merger.”

Bancorp 34, Inc. completed an acquisition involving CBOA Financial, Inc. for each CBOA shareholder has the right to receive 0.2628 shares of Bancorp 34 common stock, for each share of CBOA common stock owned by the shareholder, with cash (closed 2024-03-19).

“On March 19, 2024, Bancorp 34, Inc (“ Bancorp 34 ”) completed its previously announced merger with CBOA Financial, Inc. ( CBOA ”) pursuant to the Agreement and Plan of Merger, dated as of April 27, 2023, as amended (the “ Merger Agreement ”). Under the Merger Agreement, CBOA was merged with and into Bancorp 34, with Bancorp 34 continuing as the surviving entity (the “ Merger ”). Immediately following the completion of the Merger, CBOAs wholly-owned subsidiary, Commerce Bank of Arizona, an Arizona state-chartered bank, was merged with and into Bancorp 34’s wholly-owned subsidiary, Bank 34, a federally chartered stock covered savings association (the “ Bank ”), with the Bank continuing as the surviving bank. Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, each CBOA shareholder has the right to receive 0.2628 shares of Bancorp 34 common stock, for each share of CBOA common stock owned by the shareholder, with cash to be paid in lieu of fractional shares”

Chris Webster was appointed as President at Bancorp 34, Inc..

“Mr. Chris Webster was appointed as the President of Bancorp 34.”

Chris Webster was elected as Director at Bancorp 34, Inc..

“The Board elected each of Robert Decker, Bill Assenmacher and Chris Webster to serve as members of the Board.”

Bill Assenmacher was elected as Director at Bancorp 34, Inc..

“The Board elected each of Robert Decker, Bill Assenmacher and Chris Webster to serve as members of the Board.”

Robert Decker was elected as Director at Bancorp 34, Inc..

“The Board elected each of Robert Decker, Bill Assenmacher and Chris Webster to serve as members of the Board.”

Don Van Winkle resigned as Director at Bancorp 34, Inc..

“William F. Burt, Wortham (Pete) Cook and Don Van Winkle each resigned from the Board of Directors of Bancorp 34”

Wortham (Pete) Cook resigned as Director at Bancorp 34, Inc..

“William F. Burt, Wortham (Pete) Cook and Don Van Winkle each resigned from the Board of Directors of Bancorp 34”

William F. Burt resigned as Director at Bancorp 34, Inc..

“William F. Burt, Wortham (Pete) Cook and Don Van Winkle each resigned from the Board of Directors of Bancorp 34”

Bancorp 34, Inc. reported the quarter ended December 31, 2023 results: net income ($1.7 million), EPS ($0.40).

“Bancorp 34, Inc. (the “Company”) reported a net loss and diluted net loss per share, for the quarter ended December 31, 2023, of ($1.7 million) and ($0.40), respectively, compared to ($1.9 million) and ($0.81) for the same period in 2022.”

Bancorp 34, Inc. amended Amendment No. 1 to Agreement and Plan of Merger with CBOA Financial, Inc. (effective 2023-12-21).

“(the “Company”) and CBOA Financial, Inc. (“CBOA”) dated as of April 27, 2023. The Merger Agreement was included as Annex A to the proxy statement prospectus contained in the Company’s Registration Statement on”