Bancorp 34, Inc. Reports 3rd Quarter Performance

Debt repayment removes more than $1 million in annual interest expense, while the bank's regulatory capital ratios declined.

Rhea-AI Summary

Bancorp 34 (BCTF) reported third-quarter 2026 net income of $2.435 million, improving from both the preceding and year-earlier quarters. Diluted earnings per share were $0.33, versus $0.24 in both comparison periods. Net interest margin rose to 4.13%, while core margin, excluding merger-related adjustments, reached 3.55%. Core non-GAAP net income was $1.563 million, versus $1.556 million sequentially.

The company repaid its subordinated debt in full and expects annual interest savings exceeding $1 million. Loans fell to $684.624 million from $707.154 million, while deposits increased sequentially to $755.830 million. A $660,000 credit-loss provision reversal supported earnings. The bank's Tier 1 leverage ratio declined to 11.26% following a $23 million dividend funding the debt repayment. Nine-month net income fell to $5.957 million from $6.371 million a year earlier.

23 points · 0 major

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0 major · 16 points

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Positive

• Moderate pointThird-quarter net income rose to $2.435 million from $1.867 million sequentially and $1.733 million a year earlier.
• Moderate pointNet interest margin reached 4.13%, versus 3.85% sequentially and 3.47% a year earlier.
• Moderate pointNet interest income increased to $8.950 million from $8.365 million sequentially and $7.740 million a year earlier.
• Moderate pointPre-tax, pre-provision operating income rose to $2.493 million from $2.348 million sequentially and $1.488 million a year earlier.
• Moderate pointSubordinated debt repayment was completed before repricing, saving more than $1 million in annual interest expense.

18 minor points

• Minor pointDiluted EPS increased to $0.33 from $0.24 in both the preceding and year-earlier quarters.
• Minor pointCore non-GAAP margin rose to 3.55%, versus 3.50% sequentially and 3.30% a year earlier.
• Minor pointCore non-GAAP net income rose to $1.563 million from $1.556 million sequentially and $1.355 million a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.New lending commitments totaled approximately $30 million; management expects full-year commitments to exceed FY2025.
• Minor pointAverage core loan yield increased 14 basis points during the quarter.
• Minor pointCredit-loss provision reversal of $660,000 supported third-quarter earnings.
• Minor pointTotal deposits reached $755.830 million, versus $752.230 million sequentially but $760.273 million a year earlier.
• Minor pointNon-maturity deposits increased by $16 million during the quarter.
• Minor pointTangible book value per share reached $12.98, versus $12.88 sequentially and $12.07 a year earlier.
• Minor pointTotal equity increased to $101.128 million from $100.169 million sequentially and $95.260 million a year earlier.
• Minor pointReturn on average tangible assets rose to 1.07%, versus 0.83% sequentially and 0.75% a year earlier.
• Minor pointReturn on average tangible equity rose to 10.20%, versus 8.09% sequentially and 7.91% a year earlier.
• Minor pointCore return on average tangible assets improved for the eighth consecutive quarter, reaching 0.69%.
• Minor pointEfficiency ratio improved to 73.16%, versus 73.47% sequentially and 81.17% a year earlier.
• Minor pointCore efficiency ratio improved to 74.89%, versus 76.14% sequentially and 77.85% a year earlier.
• Minor pointNine-month net interest income rose to $25.522 million from $23.856 million a year earlier.
• Minor pointNine-month non-interest income increased to $1.050 million from $799,000 a year earlier.
• Minor pointNine-month non-interest expense declined to $19.664 million from $19.919 million a year earlier.

Negative

• Moderate pointTotal loans fell to $684.624 million from $707.154 million sequentially and $690.519 million a year earlier.
• Moderate pointBank Tier 1 leverage ratio fell to 11.26% after a $23 million dividend funded subordinated debt repayment. 21% of market cap
• Moderate pointBank common equity Tier 1 ratio declined to 12.84% from 15.11% sequentially and 14.28% a year earlier.
• Minor pointNine-month net income declined to $5.957 million from $6.371 million a year earlier.
• Minor pointBank total risk-based capital ratio declined to 13.91% from 16.26% sequentially and 15.54% a year earlier.

11 minor points

• Minor pointNon-interest expense increased to $6.793 million from $6.501 million sequentially and $6.494 million a year earlier.
• Minor pointNon-interest income fell to $336,000 from $484,000 sequentially, but exceeded the year-earlier $242,000.
• Minor pointCost of funds increased to 2.55% from 2.46% sequentially, but remained below 2.64% a year earlier.
• Minor pointNon-performing assets rose to $3.186 million from $2.789 million sequentially, net of government guarantees.
• Minor pointNon-performing asset ratio increased to 0.36% from 0.31% sequentially, but improved from 1.00% a year earlier.
• Minor pointClassified loans increased to $16.460 million from $16.311 million sequentially, net of government guarantees.
• Minor pointAdversely classified items relative to capital increased to 14.99% from 12.09% sequentially.
• Minor pointCredit-loss allowance relative to loans declined to 1.16% from 1.23% sequentially and 1.41% a year earlier.
• Minor pointAccumulated other comprehensive loss widened to $5.630 million from $3.887 million sequentially.
• Minor pointCore return on average tangible equity fell to 6.55% from 6.74% sequentially, but exceeded 6.18% a year earlier.
• Minor pointOverhead ratio increased to 2.97% from 2.85% sequentially and 2.79% a year earlier.

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SCOTTSDALE, AZ / ACCESS Newswire / November 5, 2026 / Bancorp 34, Inc. (OTCID:BCTF), the parent company for Southwest Heritage Bank, together, the "Company" reports third quarter of 2026 performance.

Management Comments - Ciaran McMullan, Chairman & CEO

• Core¹ ROATA improved for the eighth consecutive quarter.

• Core¹ Net Interest Margin also improved over both the linked and prior year quarters.

• Total loans declined by approximately $23 million including $14 million with yields lower than 4.75%.

• Helping to drive an increase in total average core¹ loan yield of 14bps.

• We booked new lending commitments of approximately $30 million during the quarter and are on track to outperform total new commitments booked in FY2025.

• The bank recorded a $700,000 reverse provision tied to the expected reduction of a qualitative factor related to the Commerce Bank acquisition.

• The Bancorp paid off its subordinated debt in full during the 3^rd quarter prior to its repricing, saving more than $1 million in annual interest expense.

3Q26 Highlights

Net Income and NIM

• Core¹ NIM improved over the linked and prior year quarters, by 5bps and 37bps, respectively driven by declining deposit costs and improved loan portfolio yields.
• Net Income improved over the linked quarter, driven primarily by the reverse provision and improved NIM.
• Net Operating Income (pre-tax pre-provision) increased over both the linked and prior-year quarters due to improved NIM.

• Non-interest expense increased slightly during the quarter due to additional hires and other smaller non-recurring items.

Balance Sheet

• Deposits mix continued to improve as non-maturity deposits increased by $16 million.

• Total loans decreased $23 million driven by expected elevated payoffs of low yielding loans booked in 2021.

Asset Quality

• The bank released ACL due to the reduction of the management qualitative factor related to the merger in 2024.

Capital

• TBVPS increased by $0.20, including negative AOCI.

• The Bank's Tier 1 Leverage Ratio declined to 11.26% due to $23 million dividend to Bancorp 34 to pay off the sub-debt.

Performance Metrics (Consolidated)			3Q26				2Q26				3Q25
ROATA			1.07	%			0.83	%			0.75	%
ROATE			10.20	%			8.09	%			7.91	%
Core1 ROATA			0.69	%			0.68	%			0.59	%
Core1 ROATE			6.55	%			6.74	%			6.18	%
Net Interest Margin			4.13	%			3.85	%			3.47	%
Cost of Funds			2.55	%			2.46	%			2.64	%
Overhead Ratio2			2.97	%			2.85	%			2.79	%
Efficiency Ratio			73.16	%			73.47	%			81.17	%
NPA3			0.36	%			0.31	%			1.00	%
ACL to Total Loans			1.16	%			1.23	%			1.41	%

Balance Sheet (in 000s)			3Q26				2Q26				3Q25
Total Assets		$	882,764			$	895,991			$	899,621
Total Loans		$	684,624			$	707,154			$	690,519
Total Deposits		$	755,830			$	752,230			$	760,273
Total Capital		$	101,128			$	100,169			$	95,260
TBVPS		$	12.98			$	12.88			$	12.07

Income Statement (000s except EPS)			3Q26				2Q26				3Q25
Net Interest Income		$	8,950			$	8,365			$	7,740
Non-interest Income		$	336			$	484			$	242
Non-interest Expense		$	6,793			$	6,501			$	6,494
Net Operating Income		$	2,493			$	2,348			$	1,488
Net Income		$	2,435			$	1,867			$	1,733
Core1 Net Income		$	1,563			$	1,556			$	1,355
Diluted Earnings per Share		$	0.33			$	0.24			$	0.24

1 - Non-GAAP, excludes merger related accretion and amortization, as well as material non-recurring income and expense items.
2 - Non-interest expense as a percentage of average assets.
3 - NPA is non-performing assets as a % of total assets, net of government guarantees.

ABOUT BANCORP 34, INC. - Bancorp 34 is the holding company for Southwest Heritage Bank. The bank's headquarters are located at 8777 East Hartford Drive, Suite 100, Scottsdale, Arizona 85255. In addition, we operate seven full-service community bank branches, two in Maricopa County, Arizona, in the cities of Scottsdale and Gilbert; three in Pima County, Arizona, in the cities of Tucson and Green Valley; one branch in Otero County, New Mexico in the city of Alamogordo; and one branch in Dona Ana County New Mexico, in the city of Las Cruces.

FORWARD-LOOKING STATEMENTS - Certain statements herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "believes," "will," "expects," "project," "may," "could," "developments," "strategic," "launching," "opportunities," "anticipates," "estimates," "intends," "plans," "targets" and similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, general economic conditions, changes in interest rates, the effects of any health pandemic, regulatory considerations, competition and the other risks. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Forward-looking statements speak only as of the date they are made, and we assume no obligation to update any of these statements in light of new information, future events or otherwise unless required under federal securities laws.

NON-GAAP FINANCIAL MEASURES- Some of the financial measures included in this release are not measures of financial performance recognized in accordance with generally accepted accounting principles in the United States ("GAAP"). These non-GAAP financial measures include: (i) core net income; (ii) core net interest margin; (iii) core ROAA; (iv) core ROAE (v) core ROATA; (vi) core ROATE; (vii) core NIE to average assets; and (viii) core efficiency ratio. We believe these non-GAAP financial measures provide investors and management with a more complete understanding of our financial position and performance. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures. Not all companies use the same calculation of these measures; therefore, this presentation may not be comparable to other similarly titled measures as presented by other companies. A reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.

Select Financial Ratios			3Q26				2Q26				3Q25
Return on Average Assets (ROAA)			1.06	%			0.82	%			0.74	%
Core4 ROAA			0.68	%			0.67	%			0.58	%
Return on Average Tangible Assets (ROATA)			1.07	%			0.83	%			0.75	%
Core4 ROATA			0.69	%			0.68	%			0.59	%
Return on Average Equity (ROAE)			9.53	%			7.52	%			7.35	%
Core4 ROAE			6.32	%			6.27	%			5.74	%
Return on Average Tangible Equity			10.20	%			8.09	%			7.91	%
Core4 ROATE			6.55	%			6.74	%			6.18	%
Overhead Ratio			2.97	%			2.85	%			2.79	%
Core4 Overhead Ratio			2.65	%			2.71	%			2.54	%
Efficiency Ratio			73.16	%			73.47	%			81.17	%
Core4 Efficiency Ratio			74.89	%			76.14	%			77.85	%
Net Interest Margin			4.13	%			3.85	%			3.47	%
Core5 Net Interest Margin			3.55	%			3.50	%			3.30	%
Cost of Funds			2.55	%			2.46	%			2.64	%
Earnings Per Share (EPS)		$	0.33			$	0.25			$	0.24
Diluted EPS		$	0.33			$	0.24			$	0.24

Bank Regulatory Capital Ratios			3Q26				2Q26				3Q25
Tier 1 Leverage Capital Ratio			11.26	%			13.36	%			12.26	%
Common Equity Tier 1 Capital Ratio			12.84	%			15.11	%			14.28	%
Tier 1 Capital Ratio			12.84	%			15.11	%			14.28	%
Total Risk-based Capital Ratio			13.91	%			16.26	%			15.54	%

Credit Quality6			3Q26				2Q26
Total Classified Loans		$	16,460			$	16,311
Classified - Accrual Loans		$	13,274			$	13,522
Classified - Non-Accrual Loans		$	3,186			$	2,789
Non-Performing Assets		$	3,186			$	2,789
Total Classified / Total Loans			2.40	%			2.31	%
Adversely Classified Items/Total Capital			14.99	%			12.09	%

Period				GAAP Net Income				Loan Mark Accretion				CDI Amortization				Non-Recurring Items7				Core Net Income8
	3Q26			$	2,435			$	-1,201			$	338			$	-299			$	1,563
	2Q26			$	1,867			$	-679			$	349			$	-84			$	1,556
	3Q25			$	1,733			$	-571			$	386			$	-319			$	1,355

4 - Non-GAAP, excludes merger related accretion and amortization, as well as material non-recurring income and expense items.
5 - Non-GAAP, excludes merger related fair value mark accretion and amortization.
6 - Classified and non-performing assets are net of government guarantees
7 - Includes Loan ACL reverse provision
8 - Non-GAAP, Assumes 25% tax rate

BALANCE SHEET (in 000s)			3Q26				2Q26				3Q25
Assets
Cash and due from banks			3,255				3,244				3,158
Fed funds sold & repos			3,295				5,540				4,200
Interest bearing deposits with banks			42,771				38,657				47,123
Investment securities			98,590				97,413				109,151
Loans, net of unearned income			684,624				707,154				690,519
Allowance for credit losses			-7,945				-8,710				-9,733
Premises and equipment, net			8,445				8,832				11,085
Accrued interest receivable			2,657				2,689				2,543
Core deposit intangible			4,991				5,328				6,409
Other assets			42,081				35,844				35,166
Total Assets			882,764				895,991				899,621
Liabilities
Non-interest bearing deposits			155,645				157,766				163,339
Interest bearing demand deposits			104,061				100,000				105,347
Savings and money market deposits			353,586				339,574				301,835
Time deposits - retail			139,998				152,350				184,682
Time deposits - wholesale			2,540				2,540				5,070
Total Deposits			755,830				752,230				760,273
Accrued expenses and other liabilities			20,967				16,273				16,828
Other borrowings			4,839				27,319				27,261
Total Liabilities			781,636				795,822				804,362
Equity
Common stock			74				74				74
Capital surplus			66,878				66,610				66,482
Retained earnings			33,850				33,850				25,989
Accumulated other comprehensive loss			-5,630				-3,887				-3,656
Net income			5,956				3,522				6,371
Unearned ESOP shares			0				0				0
Total Equity			101,128				100,169				95,260
Total Liabilities & Equity			882,764				895,991				899,621

INCOME STATEMENT (in 000s)			3Q26				2Q26				3Q25
Interest Income
Interest on Loans			12,297				11,659				10,836
Fees on Loans			32				69				119
Interest on federal funds sold			27				32				49
Interest on deposits with banks			554				479				997
Investment Securities - Taxable			1,103				1,028				1,199
Total Interest Income			14,013				13,267				13,200
Interest Expense
Interest bearing demand deposits			412				369				404
Savings and Money Market Deposits			2,961				2,835				2,690
Time Deposits - Retail			1,261				1,336				1,967
Time Deposits - Wholesale			26				25				53
Total Interest Expense on Deposits			4,660				4,565				5,114
Interest on other borrowings			403				337				345
Total Interest Expense			5,063				4,902				5,460
Net Interest Income			8,950				8,365				7,740
Provision for Credit Losses			-660				0				-700
Net In. Inc. After Prov. for Credit Losses			9,610				8,365				8,440
Non Interest Income
Service charges and fees			163				146				141
Mortgage loan and related fees			6				53				26
Other noninterest income			167				285				75
Total Non Interest Income			336				484				242
Non Interest Expense
Salaries and employee benefits			3,575				3,420				3,418
Occupancy			752				773				540
Other noninterest expense			2,466				2,308				2,536
Total Non Interest Expense			6,793				6,501				6,494
Income Before Taxes			3,153				2,348				2,188
Income taxes			718				481				455
Net Income			2,435				1,867				1,733

INCOME STATEMENT (in 000s)		9 months ending 3Q26				9 months ending 3Q25
Interest Income
Interest on Loans			35,294				33,030
Fees on Loans			234				413
Interest on federal funds sold			92				149
Interest on deposits with banks			1,343				3,357
Investment Securities - Taxable			3,349				3,333
Total Interest Income			40,312				40,282
Interest Expense
Interest bearing demand deposits			1,130				1,106
Savings and Money Market Deposits			8,436				7,576
Time Deposits - Retail			4,065				6,537
Time Deposits - Wholesale			83				167
Total Interest Expense on Deposits			13,714				15,386
Interest on other borrowings			1,076				1,040
Total Interest Expense			14,790				16,426
Net Interest Income			25,522				23,856
Provision for Credit Losses			-660				-3,450
Net In. Inc. After Prov. for Credit Losses			26,182				27,306
Non Interest Income
Service charges and fees			435				443
Mortgage loan and related fees			204				55
Other noninterest income			411				301
Total Non Interest Income			1,050				799
Non Interest Expense
Salaries and employee benefits			10,446				10,319
Occupancy			2,250				1,966
Other noninterest expense			6,968				7,634
Total Non Interest Expense			19,664				19,919
Income Before Taxes			7,568				8,186
Income taxes			1,611				1,815
Net Income			5,957				6,371

Average Balance Sheet and Yields
For the Three Months Ended
		September 30, 2026												June 30, 2026
		Average Balance				Interest				Average Yield/Rate				Average Balance				Interest				Average Yield/Rate
Interest Earning Assets:
Federal funds sold		$	2,822,609			$	26,530				3.73	%		$	3,521,978			$	32,189				3.67	%
Deposits with banks			61,631,417				554,488				3.57	%			54,403,513				479,362				3.53	%
Investment securities			104,333,343				1,102,945				4.19	%			106,258,336				1,028,148				3.88	%
Loans			692,735,010				12,297,105				7.04	%			708,187,996				11,727,349				6.64	%
Total Interest Earning Assets		$	861,522,379			$	13,981,068				6.44	%		$	872,371,823			$	13,267,048				6.17	%
Non-Interest Earning Assets		$	46,576,193											$	41,795,279
Total Assets		$	908,098,572											$	914,167,102
Interest Bearing Liabilities:
Interest bearing demand		$	107,477,716			$	412,254				1.52	%		$	104,563,048			$	369,136				1.42	%
Savings and Money Market			362,287,406				2,960,856				3.24	%			347,058,899				2,835,039				3.28	%
Time deposits - Retail			146,406,713				1,260,617				3.42	%			155,333,571				1,335,594				3.45	%
Time Deposits - Wholesale			2,540,000				25,921				4.05	%			2,540,000				25,650				4.05	%
Total Interest Bearing Deposits			618,711,835				4,659,648				2.99	%			609,495,518				4,565,419				3.00	%
Total Borrowed Funds			8,672,164				402,667				18.42	%			27,307,385				336,310				4.94	%
Total Interest Bearing Liabilities			627,383,999				5,062,315				3.20	%			636,802,903				4,901,729				3.09	%
Non-Interest Bearing Deposits			158,197,096				-				0.00	%			162,926,161				-				0.00	%
Total Funding Sources/Cost			785,581,095				5,062,315				2.56	%			799,729,064				4,901,729				2.46	%
Non-Interest Bearing Liabilities			21,155,010												14,870,604
Equity			101,362,467												99,567,434
Total Liabilities and Equity		$	908,098,572											$	914,167,102
Net Interest Income						$	8,918,753											$	8,365,319
Net Interest Margin											4.13	%											3.85	%

Average Balance Sheet and Yields
For the Three Months Ended
		September 30, 2026												September 30, 2025
		Average Balance				Interest				Average Yield/Rate				Average Balance				Interest				Average Yield/Rate
Interest Earning Assets:
Federal funds sold		$	2,822,609			$	26,530				3.73	%		$	4,498,187			$	149,279				4.44	%
Deposits with banks			61,631,417				554,488				3.57	%			103,692,236				3,356,634				4.33	%
Investment securities			104,333,343				1,102,945				4.19	%			99,918,850				3,333,906				4.46	%
Loans			692,735,010				12,297,105				7.04	%			676,802,218				33,442,588				6.61	%
Total Interest Earning Assets		$	861,522,379			$	13,981,068				6.44	%		$	884,911,491			$	40,282,407				6.09	%
Non-Interest Earning Assets		$	46,576,193											$	47,816,337
Total Assets		$	908,098,572											$	932,727,828
Interest Bearing Liabilities:
Interest bearing demand		$	107,477,716			$	412,254				1.52	%		$	106,289,490			$	1,106,091				1.39	%
Savings and Money Market			362,287,406				2,960,856				3.24	%			296,837,126				7,576,266				3.41	%
Time deposits - Retail			146,406,713				1,260,617				3.42	%			214,218,806				6,536,995				4.08	%
Time Deposits - Wholesale			2,540,000				25,921				4.05	%			5,424,813				167,100				4.12	%
Total Interest Bearing Deposits			618,711,835				4,659,648				2.99	%			622,770,235				15,386,452				3.30	%
Total Borrowed Funds			8,672,164				402,667				18.42	%			27,461,732				1,039,532				4.99	%
Total Interest Bearing Liabilities			627,383,999				5,062,315				3.20	%			650,231,967				16,425,984				3.38	%
Non-Interest Bearing Deposits			158,197,096				-				0.00	%			178,144,809				-				0.00	%
Total Funding Sources/Cost			785,581,095				5,062,315				2.56	%			828,376,776				16,425,984				2.65	%
Non-Interest Bearing Liabilities			21,155,010												13,636,749
Equity			101,362,467												90,714,303
Total Liabilities and Equity		$	908,098,572											$	932,727,828
Net Interest Income						$	8,918,753											$	23,856,423
Net Interest Margin											4.13	%											3.59	%

Average Balance Sheet and Yields
For the Nine Months Ended
		September 30, 2026												September 30, 2025
		Average Balance				Interest				Average Yield/Rate				Average Balance				Interest				Average Yield/Rate
Interest Earning Assets:
Federal funds sold		$	3,328,480			$	91,964				3.69	%		$	4,498,187			$	149,279				4.44	%
Deposits with banks			51,098,120				1,343,573				3.52	%			103,692,236				3,356,634				4.33	%
Investment securities			107,000,505				3,349,118				4.18	%			99,918,850				3,333,906				4.46	%
Loans			703,708,471				35,527,432				6.75	%			676,802,218				33,442,588				6.61	%
Total Interest Earning Assets		$	865,135,576			$	40,312,087				6.23	%		$	884,911,491			$	40,282,407				6.09	%
Non-Interest Earning Assets		$	43,284,633											$	47,816,337
Total Assets		$	908,420,209											$	932,727,828
Interest Bearing Liabilities:
Interest bearing demand		$	104,726,050			$	1,130,465				1.44	%		$	106,289,490			$	1,106,091				1.39	%
Savings and Money Market			345,896,375				8,435,417				3.26	%			296,837,126				7,576,266				3.41	%
Time deposits - Retail			155,747,539				4,065,098				3.49	%			214,218,806				6,536,995				4.08	%
Time Deposits - Wholesale			2,743,883				83,125				4.05	%			5,424,813				167,100				4.12	%
Total Interest Bearing Deposits			609,113,847				13,714,105				3.01	%			622,770,235				15,386,452				3.30	%
Total Borrowed Funds			21,020,920				1,075,966				6.84	%			27,461,732				1,039,532				4.99	%
Total Interest Bearing Liabilities			630,134,767				14,790,071				3.14	%			650,231,967				16,425,984				3.38	%
Non-Interest Bearing Deposits			162,298,209				-				0.00	%			178,144,809				-				0.00	%
Total Funding Sources/Cost			792,432,976				14,790,071				2.50	%			828,376,776				16,425,984				2.65	%
Non-Interest Bearing Liabilities			16,302,440												13,636,749
Equity			99,684,793												90,714,303
Total Liabilities and Equity		$	908,420,209											$	932,727,828
Net Interest Income						$	25,522,016											$	23,856,423
Net Interest Margin											3.95	%											3.59	%

Contact: Kevin Vaughn
Chief Financial Officer
(623) 334-6064
BCTF@swhb.com

SOURCE: Southwest Heritage Bank

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Bancorp 34's third-quarter 2026 earnings?

Bancorp 34 earned $2.435 million, or $0.33 per diluted share, in the third quarter of 2026. Net income was $1.867 million in the preceding quarter and $1.733 million a year earlier. Diluted earnings per share were $0.24 in both comparison periods.

How much interest will Bancorp 34 save after repaying its subordinated debt?

Bancorp 34 expects to save more than $1 million in annual interest expense after fully repaying its subordinated debt during the third quarter, before repricing. The bank paid a $23 million dividend to Bancorp 34 to fund the repayment.

What does Bancorp 34 exclude from core net income?

Bancorp 34's core non-GAAP net income excludes merger-related accretion and amortization, along with material non-recurring income and expense items. The calculation assumes a 25% tax rate. Non-recurring items include the loan credit-loss allowance reverse provision.

Why did Bancorp 34's loans decline in the third quarter of 2026?

Bancorp 34 attributes the decline to expected elevated payoffs of low-yielding loans booked in 2021. Management reported that the approximately $23 million reduction included $14 million of loans yielding less than 4.75%.