Bancorp - BCTF STOCK NEWS

Bancorp 34, Inc. completes a merger with CBOA Financial, Inc., creating a $1 billion in assets commercial bank serving Arizona and southern New Mexico / El Paso, Texas markets. The merger combines Commerce Bank of Arizona with Bank 34, resulting in total assets of approximately $1 billion, gross loans of $782 million, and total deposits of $819 million as of December 31, 2023.

Bancorp 34, Inc. reports a net loss in the fourth quarter of 2023 but shows an increase in total assets. The merger with CBOA Financial, Inc. impacted operating results due to higher expenses and funding costs. The Company anticipates rebranding as Southwest Heritage Bank after the merger.

Bancorp 34, Inc. and CBOA Financial, Inc. announced the rebranding of their combined bank to Southwest Heritage Bank post-merger, reflecting a commitment to the region's heritage and future. The CEOs emphasized continuity of service and customer focus.

Bancorp 34, Inc. (BCTF) Reports Revised Third Quarter 2023 Performance with a Net Loss of $2,275,000 and Amended Merger Agreement with CBOA Financial, Inc.

Bancorp 34, Inc. (BCTF) reports Q3 2023 performance, with net income of $3,000 and diluted EPS of $0.00, down from $1.0 million and $0.42 in Q3 2022. Total assets increased to $583.1 million from $574.3 million. Merger expenses and higher funding costs impacting profitability. Regulatory approval received for merger with CBOA Financial, Inc.

Bancorp 34 announced a quarterly cash dividend of $0.05 per share, payable on September 25, 2020, to shareholders of record by September 11, 2020. This marks the seventh dividend since the company's mutual-to-stock conversion in October 2016. The CEO emphasized the dividend reflects confidence in long-term financial prospects and commitment to enhancing shareholder value while maintaining a strong capital position amidst the ongoing economic challenges.

Bancorp 34, Inc. (NASDAQ: BCTF) has announced its intent to voluntarily delist its common stock from the NASDAQ Capital Market and withdraw its registration with the SEC, effective around August 25, 2020. This decision, driven by cost-saving measures, will suspend the need for periodic SEC filings. Additionally, the company has initiated a stock repurchase program with a total purchase price not exceeding $600,000. As of June 30, 2020, Bancorp 34 reported consolidated assets of $458 million and stockholders' equity of $45.6 million.

Bancorp 34, Inc. (NASDAQ: BCTF) has appointed James Crotty as Co-President and Chief Executive Officer, effective July 20, 2020. Crotty, with 16 years at Keefe, Bruyette & Woods, brings extensive experience in strategic initiatives for community banks. Current CEO Jill Gutierrez will assist in the transition. Chairman Randall Rabon expressed confidence in Crotty's leadership to enhance stockholder value. As of March 31, 2020, Bancorp 34 reported consolidated assets of $408.4 million and stockholders' equity of $46.1 million.