ALAMOGORDO, N.M., April 11, 2018 /PRNewswire/ -- Bancorp 34,
Inc. ("Bancorp 34") (NASDAQ: BCTF), the holding company for Bank
34, announced that its Board of Directors has declared a special
cash dividend of $1.25 per
share. The special dividend will be paid on May 9, 2018 to stockholders of record as of
April 25, 2018. This is Bancorp
34's first dividend since completing its mutual-to-stock conversion
and related stock offering in October
2016.
Jill Gutierrez, Chief Executive
Officer of Bancorp 34, noted, "This dividend reflects our current
operating results, strong financial condition and our commitment to
delivering stockholder value following the completion of our
second-step conversion. The payment of a special dividend
also reflects our continued efforts to actively manage our capital
while maintaining ample capacity for organic growth and ongoing
operations."
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
Bancorp 34'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, regulatory considerations, competition
and the other risks described in the Company's Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q as filed with the
Securities and Exchange Commission. Should one or more of these
risks materialize or should underlying beliefs or assumptions prove
incorrect, Bancorp 34's actual results could differ materially from
those discussed. 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.
Contact: Jan R. Thiry
EVP/Chief Financial Officer
623.777.0570
j.thiry@bank34.com
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SOURCE Bancorp 34, Inc.