RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 12 – RELATED PARTY TRANSACTIONS

The Bank periodically enters into transactions with its executive officers, directors, significant stockholders, and their affiliates (related parties). Transactions with such related parties included (dollars in thousands):

	Six months ended June 30, 2024		Year ended December 31, 2023
Fees and bonuses paid to directors during the period	$	159	$	269
Deposits from related parties held by the bank at the end of period	$	3,152	$	2,607

There was one line of credit with no balance and a $100,000 limit, to one related party on June 30, 2024. There were no additional loans to related parties as of June 30, 2024.

During the six months ended June 30, 2024, Bancorp 34 paid $216,000 to outgoing directors no longer serving on the board. This amount is included in Merger Costs on the income statement and is also included in the relevant pro forma adjustments in Note 2 herein.