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BCTF on OTC

Bancorp 34, Inc.

Bancorp 34, Inc. is an American savings institution company based in Scottsdale, listed on OTC (BCTF).1

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Last updated Oct 21, 2026.

Overview

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  • TickerBCTF on OTC1
  • IndustrySavings Institution, Federally Chartered1
  • HeadquartersAlamogordo, New Mexico1
  • Incorporated inMD2
  • Business address500 East 10Th Street, Suite 100, Alamogordo, Nm 883102
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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“our” refer to Bancorp 34, Inc. and its consolidated subsidiaries before the merger with CBOA.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income456$1.7M in 2024+57% since 2018
-$4.0M-$2.0M0$2.0M2018: $1.1M$1.1M20182019: $710.2K$710.2K2019−34%2022: $1.3M$1.3M2022+87%2023: -$3.4M-$3.4M20232024: $1.7M$1.7M2024
Fiscal year20182019202020212022202320242025
Interest$3.2M4$4.8M4$5.3M5$12.9M6$21.5M6
Income before tax$1.4M5-$3.9M6$615.0K6
Income tax$674.7K4$666.0K4$58.0K5-$453.0K6-$1.1M6
Net income$1.1M4$710.2K4$1.3M5-$3.4M6$1.7M6
Earnings per share$0.334$0.234$0.565-$0.886$0.256
Earnings per share (diluted)$0.334$0.234$0.565-$0.886$0.256

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What it owns

What Bancorp 34, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$19.9M6 Dec 31, 2024$16.2M6 Dec 31, 2023+22.6%
Accumulated depreciation$11.5M6 Dec 31, 2024$8.9M6 Dec 31, 2023+29.3%
Property and equipment, net$8.4M6 Dec 31, 2024$7.3M6 Dec 31, 2023+14.5%
Operating-lease assets (leased space)$4.1M6 Dec 31, 2024$1.8M6 Dec 31, 2023+123.7%

Investments

ItemLatestA year beforeChange
Debt securities available for sale$78.7M6 Dec 31, 2024$56.7M6 Dec 31, 2023+38.8%
Debt securities held to maturity$5.8M6 Dec 31, 2024$5.8M6 Dec 31, 2023−0.6%
Loans, net of allowance$665.9M6 Dec 31, 2024$451.2M6 Dec 31, 2023+47.6%
Deposits held (banks)$792.6M6 Dec 31, 2024$460.0M6 Dec 31, 2023+72.3%

Properties, in its own words

Our principal executive offices and the Bank’s main office is located at 8777 East Hartford Drive, Suite 100, Scottsdale, Arizona 85255. In addition, we currently operate seven branches located in Las Cruces, New Mexico, Alamogordo, New Mexico, Scottsdale, Arizona, Gilbert, Arizona, Tucson, Arizona, Oro Valley, Arizona and Green Valley, Arizona.

We own both New Mexico banking branches and lease our remaining offices in Arizona. We believe that our facilities are in good condition and are adequate to meet our operating needs for the foreseeable future.

Item 2 of the 10-K filed Mar 6, 2025.3

Leadership

Who has led Bancorp 34, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jan R. Thiry2016
  2. Jill Gutierrez2016–2019
  3. James Crotty2020

President

  1. Jan R. Thiry2016
  2. William P. Kauper2016–2017
  3. Jill Gutierrez2019
  4. James Crotty2020

Chief financial officer

  1. Jan R. Thiry2016–2017
20202025
Board members and other officers (5)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerKevin E. Vaughn named Jan 9, 2023 to Apr 26, 202320
  • DirectorDon P. Van Winkle named Jan 9, 2023 to Apr 26, 202320
  • DirectorKevin E. Ahern named Apr 26, 202320
  • DirectorSpencer T Cohn named Apr 26, 202320

Timeline

  1. Nov 20, 20248-K Shareholder vote21
  2. May 31, 20248-K Financial statements and exhibits22
  3. Apr 24, 20248-K Executive or director change23
  4. Apr 5, 20248-K Executive or director change24
  5. Mar 21, 20248-K Completed an acquisition or sale; Executive or director change; Shareholder vote25
  6. Mar 11, 20248-K Results of operations26
  7. Dec 22, 20238-K Entered a material agreement; Results of operations27
  8. Jul 23, 2020New chief executive James Crotty becomes CEO10
  9. Oct 11, 2016New chief executive Jill Gutierrez becomes CEO12
  10. Oct 11, 2016New chief executive Jan R. Thiry becomes CEO11

Calendar

When it reported results

  1. Mar 11, 2024Reported quarterly or annual results26
  2. Dec 22, 2023Reported quarterly or annual results27

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

49 filings to the SEC since October 2021: 2 annual reports, 4 quarterly reports, 7 major events, 2 private raises, 34 other. The latest 20:

  1. Mar 6, 202510-K EDGAR
  2. Jan 6, 202515-15D EDGAR
  3. Nov 20, 20248-K EDGAR
  4. Nov 13, 202410-Q EDGAR
  5. Sep 30, 2024ARS EDGAR
  6. Aug 14, 202410-Q EDGAR
  7. May 31, 20248-K/A EDGAR
  8. May 15, 202410-Q EDGAR
  9. Apr 24, 20248-K EDGAR
  10. Apr 5, 20248-K EDGAR
  11. Mar 21, 20248-K EDGAR
  12. Mar 13, 2024S-4MEF EDGAR
  13. Mar 13, 2024425 EDGAR
  14. Mar 11, 2024425 EDGAR
  15. Mar 11, 20248-K EDGAR
  16. Mar 8, 202410-K EDGAR
  17. Mar 5, 2024425 EDGAR
  18. Feb 13, 2024424B3 EDGAR
  19. Feb 12, 2024EFFECT EDGAR
  20. Feb 9, 2024CORRESP EDGAR

The 49 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jan 27, 2023Raised $15.6 million in a private offering of equity Form D: 13 investors so far Form D
  2. Dec 30, 2022Raised $14 million in a private offering of equity Form D: 2 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Siena Capital Partners GP, LLC107,142$1.6M0.4%No change
Banc Funds Co LLC61,857$951.7K0.2%−45,000

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Bancorp 34, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBancorp 34, Inc.1
  • CIK0001668340
  • Employer ID (EIN)74-28191483
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inMaryland3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6035 Savings Institution, Federally Chartered1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address500 East 10Th Street, Suite 100, Alamogordo, NM 883101
  • Phone(575) 437-93341
  • Shares outstanding6,665,415 shares as of Mar 6, 20253
  • Public float$44.7M as of Jun 30, 20243
  • AuditorPlante & Moran, PLLC, Denver, Colorado PCAOB ID 1663
  • On EDGAR sinceJun 3, 20161
  • Filings176 in all: 4 (38), 8-K (36), 10-Q (17), 3 (10), CORRESP (10), 425 (9), 10-K (6), UPLOAD (5)1
    All 33 form types

    DEF 14A (4), 424B3 (3), D (3), EFFECT (3), POS AM (3), S-4/A (3), SC 13G/A (3), 10-K/A (2), 8-K/A (2), S-8 (2), S-8 POS (2), SC 13G (2), 15-12B (1), 15-15D (1), 25 (1), 8-A12B (1), ARS (1), CERTNAS (1), DEL AM (1), S-1 (1), S-1/A (1), S-4 (1), S-4 POS (1), S-4MEF (1), SE (1)

  • Latest filingsAnnual report (10-K) Mar 6, 2025
    Quarterly report (10-Q) Nov 13, 2024
    Proxy statement (DEF 14A) May 22, 2020
    Latest 8-K (8-K) Nov 20, 2024

Risk factors and legal proceedings

The risks Bancorp 34, Inc. names in Item 1A of its 10-K filed Mar 6, 2025: 58 risks under these headings, as written.3

  • Our historical operating results may not be indicative of our future operating results.
  • Risks Related to Our Business
  • Economic and Geographic-Related Risks
  • Our business may be adversely affected by economic conditions. Generally, in periods of economic downturns, including periods of rising interest rates and recessions, our realized credit losses increase, our deposit and funding costs increase, demand for our products and services declines, and the credit quality of our loan portfolio declines.
  • Inflationary pressures present a potential threat to our results of operation and financial condition.
  • The Federal Reserve has implemented significant economic strategies that have affected interest rates, inflation, asset values, and the shape of the yield curve. These strategies have had, and will continue to have, a significant impact on our business and on many of our clients.
  • Federal Reserve strategies can, and often are intended to, affect the domestic money supply, inflation, interest rates, and the shape of the yield curve.
  • Lending and Interest Rate Risks
  • If we fail to effectively manage credit risk, our business and financial condition will suffer.
  • Our estimated allowance for credit losses and fair value adjustments with respect to acquired loans may prove to be insufficient to absorb actual losses in our loan portfolio, which may adversely affect our business, financial condition and results of operations.
  • We are exposed to higher credit risk by commercial real estate, commercial business, and construction lending.
  • A significant portion of our loan portfolio is secured by real estate, and events that negatively impact the real estate market could hurt our business.
The other 49 risks
  • In 2023 we experienced the deterioration of a large out of market commercial real estate credit, and future deterioration in our commercial real estate loan portfolio could adversely affect our results of operations and financial condition.
  • Nonperforming assets take significant time and resources to resolve and adversely affect our results of operations and financial condition.
  • New accounting standards such as ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) (CECL) could require us to increase our allowance for credit losses and may have a material adverse effect on our financial condition and results of operations.
  • We are subject to interest rate risk, which could adversely affect our financial condition and profitability.
  • Our cost of funds may increase as a result of general economic conditions, interest rates and competitive pressures.
  • Rapidly rising interest rates will impact the value of our investment securities and the cost of our funding sources, including deposits.
  • A flat or inverted yield curve may reduce our net interest margin and adversely affect our loan and investment portfolios.
  • We are subject to environmental liability and climate change risk associated with our business activities.
  • Operational Risks
  • We are subject to losses due to errors, omissions or fraudulent behavior by our employees, clients, counterparties or other third parties.
  • We are exposed to the possibility of technology failure and a disruption in our operations may adversely affect our business.
  • Fraud is a major, and increasing operational risk for us and all banks.
  • Our ability to conduct and grow our businesses profitability is dependent in part upon our ability to create, maintain, expand, and evolve an appropriate operational and organizational infrastructure, manage expenses, and recruit and retain personnel with the ability to manage a complex business.
  • A failure in or breach of our operational or security systems or infrastructure, or those of our third party vendors and other service providers or other third parties, including as a result of cyber-attacks, could disrupt our businesses, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and cause losses.
  • Our board and its committees oversee our cybersecurity, disaster recovery and business continuity risk management framework. Our governance oversight of cybersecurity, disaster recovery and business continuity risk management framework may not be effective in mitigating risks and/or losses.
  • Our risk management framework may not be effective in mitigating risks and/or losses.
  • We are a community bank and our ability to maintain our reputation is critical to the success of our business and the failure to do so may materially adversely affect our performance.
  • Combining Bancorp 34 and CBOA may be more difficult, costly or time-consuming than expected and we may fail to realize the anticipated benefits and cost savings of the merger.
  • We depend on our executive officers and other key employees, and our ability to attract additional key personnel, to continue the implementation of our long-term business strategy, and we could be harmed by the unexpected loss of their services.
  • Failure to keep pace with technological change could adversely affect our business.
  • Industry-Related Risks
  • We are exposed to the possibility that more prepayments may be made by customers to pay down loan balances, which could reduce our interest income and negatively impact our operating results.
  • We could experience a decline in operating results due to competition with other financial institutions.
  • Consumers may decide not to use banks to complete their financial transactions.
  • Through technological innovations and changes in client habits, the manner in which clients use financial services continues to change at a rapid pace.
  • The nature of technology-driven disruption to our industry is changing, in some cases seeking to displace traditional financial service providers rather than merely enhance traditional services or their delivery.
  • We may be adversely affected by the lack of soundness of other financial institutions.
  • The value of securities in our investment portfolio may decline in the future.
  • Our deposit insurance premiums could be higher in the future, which could have an adverse effect on our future earnings.
  • Capital and Liquidity Risks
  • We may be exposed to a need for additional capital resources in the future and these capital resources may not be available when needed or at all.
  • Liquidity, primarily through deposits, is essential to our business model and a lack of liquidity, or an increase in the cost of liquidity could materially impair our ability to fund our operations and jeopardize our results of operation, financial condition and cash flows.
  • We may not be able to maintain a low cost deposit base or access other low-cost funding sources.
  • Deposits traditionally have provided our most affordable funds and by far the largest portion of funding. However, deposit trends can shift with economic conditions.
  • Deposit levels may be affected, fairly quickly, by changes in monetary policy.
  • Risks Related to Strategic Plans
  • We may be adversely affected by risks associated with future mergers and acquisitions, including execution risk, which could disrupt our business and dilute stockholder value.
  • Failure to achieve one or more key elements needed for successful organic growth could adversely affect our business and operating results.
  • New lines of business or new products and services may subject us to additional risk.
  • Legal, Accounting, Regulatory and Compliance Risks
  • The banking industry is heavily regulated and that regulation, together with any future legislation or regulatory changes, could limit or restrict our activities and adversely affect our operations or financial results.
  • Failure to maintain certain regulatory capital levels and ratios could result in regulatory actions that would be materially adverse to our shareholders.
  • We face a risk of noncompliance and enforcement action with the Bank Secrecy Act and other anti-money laundering statutes and regulations.
  • Federal, state and local consumer lending laws restrict our ability to originate certain mortgage loans and increase our risk of liability with respect to such loans and increase our cost of doing business.
  • We are subject to federal and state fair lending laws, and failure to comply with these laws could lead to material penalties.
  • The Federal Reserve may require us to commit capital resources to support the Bank.
  • We are party to various claims and lawsuits incidental to our business. Litigation is subject to many uncertainties such that the expenses and ultimate exposure with respect to many of these matters cannot be ascertained.
  • The expanding body of federal, state and local regulations and/or the licensing of loan servicing, collections or other aspects of our business and our sales of loans to third parties may increase the cost of compliance and the risks of noncompliance and subject us to litigation.
  • We could be subject to changes in tax laws, regulations and interpretations or challenges to our income tax provision.
  • Risks Related to Bancorp 34 Common Stock
  • Some provisions of our organizational documents may have anti-takeover effects that could discourage an acquisition of us by others, even if an acquisition would be beneficial to our stockholders.
  • Bancorp 34 qualifies as a “smaller reporting company,” and the reduced disclosure obligations applicable to smaller reporting companies may make its common stock less attractive to investors.
  • The suspension of our obligation to file current, quarterly and annual reports with the SEC under Section 15(d) of the Exchange Act will result in less information about our financial condition and results of operations being readily available to the public and have other potentially adverse consequences to holders of our common stock.
  • Substantial future sales of our common stock, or the perception that these sales may occur, could cause the price of our common stock to decline, or could result in dilution.
  • The Bancorp 34 articles of incorporation designate the state and federal courts located within the state of Maryland as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by Bancorp 34’s stockholders, which could limit Bancorp 34’s stockholders’ ability to obtain a favorable judicial forum for disputes with Bancorp 34 or its directors, officers or employees.

Legal proceedings

Bancorp 34 and its subsidiaries are from time to time subject to claims and litigation arising in the ordinary course of business. One or more unfavorable outcomes in any claim or litigation against us could have a material adverse effect for the period in which they are resolved. In addition, regardless of their merits or their ultimate outcomes, such matters are costly, divert management’s attention and may materially adversely affect our reputation, even if resolved in our favor.

The opening of Item 3, Legal Proceedings.3

Sources

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