RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 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):

	Nine months ended September 30, 2024		Year ended December 31, 2023
Fees and bonuses paid to directors during the period	$	188	$	269
Deposits from related parties held by the bank at the end of period	$	2,967	$	2,607

There was one fully drawn line of credit, totaling $100,000, to one related party on September 30, 2024. There were no additional loans to related parties as of September 30, 2024.

During the nine months ended September 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.