This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are not statements of historical or current fact nor are they assurances of future performance and generally can be identified by the use of forward-looking terminology, such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “plan,” “predict,” “project,” “forecast,” “guidance,” “goal,” “objective,” “prospects,” “possible” or “potential,” by future conditional verbs such as “assume,” “will,” “would,” “should,” “could” or “may,” or by variations of such words or by similar expressions. These forward-looking statements include, but are not limited to, statements related to our belief that sources of available liquidity are adequate to meet our current and expected liquidity needs, our plans to meet future cash needs through the generation of deposits, and statements regarding our business plan and strategies. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, are difficult to predict and are generally beyond our control.
| · | the possibility that the anticipated benefits of our merger with CBOA Financial Inc. (“CBOA”), including anticipated cost savings and strategic gains, are not realized when expected or at all; |
| · | the integration of the business and operations of CBOA, which may take longer than anticipated or be more costly than anticipated or have unanticipated adverse results; |
| · | challenges retaining or hiring key personnel; |
| · | the outcome of pending or threatened litigation or of matters before regulatory agencies, whether currently existing or commencing in the future; |
| · | the inability to grow revenue and earnings; |
| · | the inability to efficiently manage operating expenses; |
| · | changes in interest rates and capital markets; |
| · | changes in asset quality and credit risk; |
| · | changes in deposit costs and liquidity risk; |
| · | adverse changes in economic conditions; |
| · | capital management activities; |
| · | customer borrowing, repayment, investment and deposit practices; |
| · | changes in legislation, regulation, policies, administrative practices, or executive orders, whether by judicial, governmental or legislative action, including, but not limited to, the Dodd-Frank Wall Street Reform and Consumer Protection Act, which we refer to as the Dodd-Frank Act, and other changes pertaining to banking, securities, taxation, rent regulation and housing, financial accounting and reporting, environmental protection and insurance, and the ability to comply with such changes in a timely manner; |
| · | changes in interest rates, which may affect Bancorp 34’s net income and other future cash flows, or the market value of Bancorp 34’s assets, including its investment securities; |
| · | the adverse effects of events beyond each party’s control that may have a destabilizing effect on financial markets and the economy, such as epidemics and pandemics (including COVID-19), war or terrorist activities, essential utility outages, deterioration in the global economy, instability in the credit markets, disruptions in each party’s customers’ supply chains or disruption in transportation; and |
| · | other actions of the Federal Reserve and legislative and regulatory actions and reforms. |
We caution readers that the foregoing list of factors is not exclusive, is not necessarily in order of importance and readers should not place undue reliance on any forward-looking statements. You should also consider the risks, assumptions and uncertainties set forth in the “Risk Factors” section of this Form 10-K. Further, any forward-looking statement speaks only as of the date on which it is made and we do not intend to and disclaim any obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, unless required to do so under the federal securities laws.
