Bancorp 34, Inc. operates as the holding company for Bank 34 that offers various banking products and services to individuals and businesses in the United States. It accepts various deposit products, such as savings accounts, checking accounts, money market accounts, demand deposits, NOW accounts, and individual retirement accounts, as well as certificates of deposit. The company also provides small business financing services; small business administration loans; owner-occupied real estate financing and long term financing services; working capital, equipment, and manufacturing loans; commercial real estate, multi-family, office, industrial, and construction loans, as well as financing for mobile home parks; personal and mortgage loans; and investor pools of single family rentals. In addition, it offers credit and debit cards; online cash management services; and merchant card processing and e-banking services. As of February 25, 2021, the company operated through a network of four full-service community bank branches, including one each in Otero and Dona Ana Counties, New Mexico; and two in Maricopa County, Arizona. Bancorp 34, Inc. was founded in 1934 and is based in Alamogordo, New Mexico.
IPO Year: n/a
Exchange: NASDAQ
Website: bank34.com
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SCOTTSDALE, Ariz., April 5, 2024 /PRNewswire/ -- Bancorp 34, Inc. (OTCQB:BCTF) (the "Company"), the parent company for Southwest Heritage Bank (the "Bank"), today announced that Jim Crotty has submitted his resignation as Chief Executive Officer and director of the Company and the Bank, effective April 1, 2024. Mr. Crotty served as Chief Executive Officer of the Company and the Bank beginning in 2020. Under his leadership, the Company has grown to approximately $1 billion in total assets and recently completed its merger with CBOA Financial, Inc., the parent company of Tucson, Arizona based Commerce Bank of Arizona.
Merger creates a $1 billion in assets commercial bank serving Arizona, and the southern New Mexico / El Paso, Texas markets. SCOTTSDALE, Ariz., March 19, 2024 /PRNewswire/ -- Bancorp 34, Inc. (OTCQB:BCTF), the parent company for Bank 34, today announced that it has completed its previously announced merger with CBOA Financial, Inc. ("CBOF"), the parent company of Tucson, Arizona based Commerce Bank of Arizona ("Commerce Bank"), effective March 19, 2024. Also, effective March 19, 2024, Commerce Bank merged into Bank 34. Commerce Bank had approximately $433 million in total ass
SCOTTSDALE, Ariz., March 8, 2024 /PRNewswire/ -- Bancorp 34, Inc. (OTCQB:BCTF), the parent company for Bank 34, reports consolidated fourth quarter of 2023 performance. Bancorp 34, Inc. (the "Company") reported a net loss and diluted net loss per share, for the quarter ended December 31, 2023, of ($1.7 million) and ($0.40), respectively, compared to ($1.9 million) and ($0.81) for the same period in 2022. The Company reported consolidated total assets of $581.3 million as of December 31, 2023, up from $574.3 million as of December 31, 2022. Operating results continue to b
PHOENIX, March 4, 2024 /PRNewswire/ -- Bancorp 34, Inc. and CBOA financial, Inc., the parent companies of Bank 34 and Commerce Bank of Arizona, respectively, announced today that, provided the pending merger closes as expected, the combined bank will officially become Southwest Heritage Bank on March 25, 2024. Jim Crotty, CEO of Bank 34, commented, "After nearly a century of dedicated service by both companies, this change marks an exciting new chapter in our combined story, one that reflects a deep-rooted commitment to our region's rich heritage and promising future." Chris W
SCOTTSDALE, Ariz., Dec. 22, 2023 /PRNewswire/ -- Bancorp 34, Inc. (OTCQB:BCTF), the parent company for Bank 34, together, the "Company" today reported revised third quarter of 2023 performance. Due primarily to a provision taken to the loan loss reserve for one commercial real estate credit which was placed on non-accrual status on September 30, 2023, the Company reported a revised third quarter 2023 net loss of $2,275,000 or negative $0.52 per diluted share, compared to previously reported third quarter 2023 net income of $3,000 or $0.00 per diluted share. The Company re
Strategic merger creates $1b asset Arizona headquartered community bank, filling a need in a large and growing market areaSignificant shareholder value creation expected through meaningful earnings accretion and enhanced profitability metricsAttractive geographic footprint surrounding the Phoenix MSA and boasting a multi-state footprint across Arizona and New MexicoSCOTTSDALE, Ariz. , April 27, 2023 /PRNewswire/ -- Bancorp 34, Inc. (OTCQB:BCTF) ("BCTF"), the holding company of Bank 34, and CBOA Financial, Inc. (OTCPK: CBOF) ("Commerce"), the holding company of Commerce Bank of Arizona, today jointly announced the signing of a definitive merger agreement to combine and form the second largest
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10-Q - Bancorp 34, Inc. (0001668340) (Filer)
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8-K - Bancorp 34, Inc. (0001668340) (Filer)
8-K - Bancorp 34, Inc. (0001668340) (Filer)
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SCOTTSDALE, Ariz., April 5, 2024 /PRNewswire/ -- Bancorp 34, Inc. (OTCQB:BCTF) (the "Company"), the parent company for Southwest Heritage Bank (the "Bank"), today announced that Jim Crotty has submitted his resignation as Chief Executive Officer and director of the Company and the Bank, effective April 1, 2024. Mr. Crotty served as Chief Executive Officer of the Company and the Bank beginning in 2020. Under his leadership, the Company has grown to approximately $1 billion in total assets and recently completed its merger with CBOA Financial, Inc., the parent company of Tucson, Arizona based Commerce Bank of Arizona.