Note 9 - Subsequent Event

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

9

–

SUBSEQUENT EVENT

Subsequent events have been evaluated through

the date these consolidated financial statements were issued.

Stock Repurchase Program -

On

October 26, 2017,

the Company announced that is has adopted a stock repurchase program for up to approximately

5%

of its outstanding common stock, or

171,910

shares of its common stock.  This is Bancorp

34's

first

stock repurchase program since completing its mutual-to-stock conversion and related stock offering in

October 2016. 

Repurchases

may

be made

no

sooner than the termination of Bancorp

34's

regular quarterly trading blackout after Bancorp

34

publicly releases its results of operations for the fiscal quarter ended

September 30, 2017,

and consistent with Bancorp

34's

trading policies.  Shares

may

be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that

may

be adopted in accordance with Rule

10b5

-

1

of the Securities and Exchange Commission.

  The repurchase program has

no

expiration date. 

Repurchases will be made at management's discretion at prices management considers to be attractive and in the best interests of both Bancorp

34

and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and Bancorp

34's

financial performance.

  Open market purchases will be subject to the limitations set forth in Rule

10b

-

18

of the Securities and Exchange Commission and other applicable legal requirements.

The timing and amount of share repurchases under this authorization

may

be suspended, terminated or modified by Bancorp

34

at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors

may

also affect the timing and amount of share repurchases. Bancorp

34

is

not

obligated to repurchase any particular number of shares or any shares in any specific time period.