BCTF
Bancorp 34, Inc.13.46
+0.00+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
89.72MP/E (TTM)
15.47Basic EPS (TTM)
0.87Dividend Yield
0%Recent Filings
10-K
FY2024 results
Bancorp 34 wrapped FY2024 with a $676M loan book, up sharply from $457M in FY2023, fueled by the March merger with CBOA that added $311M in loans at fair value; yet Q4 saw sequential softening as $95M in payoffs outpaced new originations amid rate cuts. Net interest income surged 93% to $29.3M annually, with Q4 margins holding at 3.65% despite deposit costs climbing to 3.74% on time deposit shifts, while the $5M bargain purchase gain offset merger hits. Core deposits hit $701M or 88.5% of total, but uninsured balances at $194M signal liquidity watchpoints. No dividends paid; buybacks paused. A key risk: CRE loans at 60.7% of portfolio could snag on real estate slumps.
8-K
Annual meeting elects directors
Bancorp 34, Inc. held its 2024 Annual Meeting on November 14, electing Randal L. Rabon and Robert Decker as Class I directors with strong support—Rabon garnered 2,869,530 votes for amid 676,042 abstentions, while Decker secured 3,470,850. Stockholders ratified Plante & Moran, PLLC as the 2024 independent auditors by a wide margin of 4,155,981 to 21,928 against. The equity incentive plan's incentive stock option provisions passed 3,315,082 to 140,278. Governance continuity holds firm.
10-Q
Q3 FY2024 results
Bancorp 34 swung to a $1.6M net profit in Q3 2024 from a $2.3M loss last year, fueled by the March merger with CBOA Financial that doubled loans to $703M and deposits to $785M, while net interest income jumped 126% y/y to $8.4M on 6.9% loan yields. The deal added a $5M bargain purchase gain but also $3.8M in merger costs and a $4.1M Day-2 provision, pushing nine-month net income to $1.5M despite a $432K OREO sale loss. Cash swelled to $128M, with $27M BTFP debt maturing soon and $229M FHLB availability. Merger integration sharpened Arizona-New Mexico reach. Yet commercial real estate softness lingers as a key watch point.
10-Q
Q2 FY2024 results
Bancorp 34 swung to a $1.5M net income in Q2 2024, up from $104K a year earlier, fueled by the March merger with CBOA Financial that doubled loans to $735M and deposits to $770M. Net interest income jumped 135% y/y to $9.0M on higher yields (6.56% vs 4.99%), though expenses rose with $414K in merger costs and $434K core deposit amortization. YTD, a slim $34K loss masks a $5.0M bargain purchase gain offset by $3.8M merger charges and $4.1M loan provisions (derived). Liquidity stays solid at $79M cash, $27M BTFP debt maturing 2025, and $244M FHLB capacity. Merger closed March 2024 for $23.3M in stock, recognizing $8.9M core deposit intangible over 10 years. Yet commercial real estate risks loom amid rising vacancies and rates.
10-Q
Q1 FY2024 results
Bancorp 34 swung to a $1.5M net loss in Q1 FY2024 ended March 31, 2024, from $0.4M profit y/y, as merger costs and credit provisions overwhelmed a $5.1M preliminary bargain purchase gain from acquiring CBOA Financial for $23.3M in stock. Net interest income dipped 9.9% y/y to $3.7M amid higher deposit rates, while loans ballooned 64% q/q to $750M (derived) post-merger, with non-GAAP metrics not disclosed in the 10-Q. Assets hit $980M, deposits $806M, and cash $73M, backed by $49M in FRB BTFP advances at 5.1% maturing 2025 and $145M FHLB capacity; the core deposit intangible of $8.9M amortizes over 10 years. Merger integration boosted Arizona branches to eight, yet nonperforming loans ticked to 0.5% of total. Regulatory pressures from the Dodd-Frank Act loom large.
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