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Stock impact report

Bancorp 34, Inc. Announces Completion of the Merger Between Bank 34 and Commerce Bank of Arizona [Yahoo! Finance]

BANCORP 34 INC (BCTF) 
US:NASDAQ Investor Relations: bank34.com/investor-relations
Company Research Source: Yahoo! Finance
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 assets, $325 million in gross loans and $340 million in deposits as of December 31 , 2023. Commerce Bank operates five full-service offices serving customers in Gilbert Green Valley Oro Valley Scottsdale and Tucson , Arizona. With the addition of Commerce Bank, on a pro forma combined basis, Bank 34 would have total assets of approximately $1 billion , gross loans of approximately $782 million and total deposits of approximately $819 million as of December 31 , 2023. The combined bank will serve customers from eight full-service offic Show less Read more
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