Bancorp 34 Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
BCTF$16.18-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Changes in Stockholders’ Equity
(Dollars in Thousands, Except Number of Shares)
Years Ended December 31, 2023, and 2022
| Shares · Balances | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Other | |||||||||||
| Voting · Non-voting · Series A · Voting · Non-voting · Series A · Additional · Comprehensive · Unearned | |||||||||||
| Common · Common · Preferred · Common · Common · Preferred · Paid-In · Retained · Income · ESOP | |||||||||||
| Shares | Shares | Shares | Stock | Stock | Stock | Capital | Earnings | (Loss), Net | Shares | Total | |
| BALANCE, January 1, 2023 | 3,032,606 | — | 521,849 | $30 | $— | $5 | $28,369 | 29,013 | $(6,773) | $(1,406) | $49,238 |
| Cumulative adjustment for day one adoption of ASU 2016-13, net of tax (Reference Notes 1 and 3) | — | — | — | — | — | — | — | (654) | — | — | (654) |
| BALANCE, January 1, 2023 (as adjusted for the adoption of ASU 2016-13) | 3,032,606 | — | 521,849 | $30 | $— | $5 | $28,369 | 28,359 | $(6,773) | $(1,406) | $48,584 |
| Net loss for 2023 | — | — | — | — | — | — | — | (3,402) | — | — | (3,402) |
| Other comprehensive income on AFS securities | — | — | — | — | — | — | — | — | 1,213 | — | 1,213 |
| Restricted stock award | 10,250 | — | — | — | — | — | — | — | — | — | — |
| Restricted stock forfeiture | (2,050) | — | — | — | — | — | — | — | — | — | — |
| Amortization of equity awards | — | — | — | — | — | — | 90 | — | — | 60 | 150 |
| Repurchase of common stock | (15,000) | — | — | — | — | — | (210) | — | — | — | (210) |
| Issuance of common stock, net of issuance costs | 848,089 | — | — | 9 | — | — | 10,858 | — | — | — | 10,867 |
| Issuance of Series A preferred stock, net of issuance costs | — | — | 298,266 | — | — | 3 | 4,172 | — | — | — | 4,175 |
| Conversion of Series A preferred stock to non voting common stock | — | 820,115 | (820,115) | — | 8 | (8) | — | — | — | — | — |
| Dividends paid - $0.14 per share | — | — | — | — | — | — | — | (656) | — | — | (656) |
| BALANCE, DECEMBER 31, 2023 | 3,873,895 | 820,115 | — | $39 | $8 | $— | $43,279 | 24,301 | $(5,560) | $(1,346) | $60,721 |
| Shares · Balances | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Other | |||||||||||
| Voting · Non-voting · Series A · Voting · Non-voting · Series A · Additional · Comprehensive · Unearned | |||||||||||
| Common · Common · Preferred · Common · Common · Preferred · Paid-In · Retained · Income · ESOP | |||||||||||
| Shares | Shares | Shares | Stock | Stock | Stock | Capital | Earnings | (Loss), Net | Shares | Total | |
| Balance on January 1, 2022 | 2,523,398 | — | — | $25 | $— | $— | $14,647 | $28,383 | $(920) | $(1,465) | $40,670 |
| Net income for 2022 | — | — | — | — | — | — | — | 1,330 | — | — | 1,330 |
| Other comprehensive loss on AFS securities | — | — | — | — | — | — | — | — | (7,161) | — | (7,161) |
| Defined benefit plan | — | — | — | — | — | — | — | — | 1,308 | — | 1,308 |
| Restricted stock awards | 9,500 | — | — | — | — | — | — | — | — | — | — |
| Restricted stock forfeiture | (7,439) | — | — | — | — | — | — | — | — | — | — |
| Amortization of equity awards | — | — | — | — | — | — | 292 | — | — | 59 | 351 |
| Repurchase of common stock | (5,297) | — | — | — | — | — | (78) | — | — | — | (78) |
| Stock option exercise | 1,036 | — | — | — | — | — | — | — | — | — | — |
| Issuance of common stock, net of issuance costs | 511,408 | — | — | 5 | — | — | 6,207 | — | — | — | 6,212 |
| Issuance of Series A preferred stock, net of issuance costs | — | — | 521,849 | — | — | 5 | 7,301 | — | — | — | 7,306 |
| Dividends paid - $0.28 per share | — | — | — | — | — | — | — | (700) | — | — | (700) |
| Balance on December 31, 2022 | 3,032,606 | — | 521,849 | $30 | $ | $5 | $28,369 | $29,013 | $(6,773) | $(1,406) | $49,238 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.