Bancorp 34 Inc
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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FY2024 · Filed Mar 6, 2025
BCTF$15.290.0%Stored close · as of Jun 29, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(Dollars in Thousands, except share data)
December 31, 2024, and December 31, 2023
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $111,510 | $27,182 |
| Federal funds sold | 2,085 | 1,715 |
| Total cash and cash equivalents | 113,595 | 28,897 |
| Available-for-sale securities, at fair value | 78,661 | 56,690 |
| Held-to-maturity securities, at amortized cost, net of allowance for credit losses | 5,665 | 5,684 |
| Loans held for investment | 676,092 | 457,027 |
| Allowance for credit losses | (10,160) | (5,860) |
| Loans held for investment, net | 665,932 | 451,167 |
| Other real estate owned | — | 3,000 |
| Premises and equipment, net | 8,414 | 7,350 |
| Operating leases right-of-use assets | 4,069 | 1,819 |
| Other investments | 6,244 | 4,063 |
| Accrued interest receivable | 2,613 | 1,597 |
| Deferred income tax asset, net | 9,027 | 4,884 |
| Bank owned life insurance | 12,063 | 11,847 |
| Core deposit intangible, net | 7,589 | — |
| Prepaid and other assets | 4,223 | 4,267 |
| Total assets | $918,095 | $581,265 |
Consolidated Balance Sheets (Continued)
(Dollars in Thousands, except Share data)
December 31, 2024, and December 31, 2023
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| LIABILITIES | ||
| Deposits | ||
| Demand deposits | $218,589 | $88,091 |
| Savings and NOW deposits | 332,923 | 243,505 |
| Time deposits | 241,055 | 128,403 |
| Total deposits | 792,567 | 459,999 |
| Federal Reserve Bank BTFP Advances | — | 29,000 |
| Subordinated debt, net of issuance costs | 23,149 | 24,595 |
| Subordinated debentures, trust preferred securities | 4,203 | — |
| Escrows | 141 | 168 |
| Operating lease liabilities | 4,619 | 2,011 |
| Accrued interest and other liabilities | 6,901 | 4,771 |
| Total liabilities | 831,580 | 520,544 |
| STOCKHOLDERS’ EQUITY | ||
| Common stock, $0.01 par value Authorized: 100,000,000 shares, including 1,100,000 shares of non-voting common stock | ||
| Voting common stock, $0.01 par value Issued and outstanding: 6,665,415 and 3,873,895 on December 31, 2024, and December 31, 2023, respectively | 67 | 39 |
| Non-voting common stock, $0.01 par value Issued and outstanding: 820,115 on December 31, 2024, and December 31, 2023 | 8 | 8 |
| Additional paid-in capital | 67,315 | 43,279 |
| Retained earnings | 25,990 | 24,301 |
| Accumulated other comprehensive loss | (5,578) | (5,560) |
| Unearned Employee Stock Ownership Plan (ESOP) shares | (1,287) | (1,346) |
| Total stockholders’ equity | 86,515 | 60,721 |
| Total liabilities and stockholders’ equity | $918,095 | $581,265 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.