Bancorp 34, Inc. and Southwest Heritage Bank Announce Board Changes
April 05, 2024 at 04:18 pm EDT
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Bancorp 34, Inc. and Southwest Heritage Bank (the Bank) announced that Jim Crotty has submitted his resignation as director of the company and the Bank, effective April 1, 2024. Mr. Crotty served as chief executive officer of the company and the Bank beginning in 2020. Under his leadership, the company has grown to approximately $1 billion in total assets and recently completed its merger with CBOA Financial, Inc. The company also announced the appointment of Ciaran McMullan as Chairman of the company and the Bank.
Mr. McMullan has held multiple CEO roles in the U.S. community and regional banking sector and has extensive international experience at multi-national banking organizations, financial technology companies, and advisory firms. He was most recently President and Chief Executive Officer of Suncrest Bank in California. Prior to that, he held the role of Chief Executive Officer of National Australia Bank's U.S. regional bank and also served as Chairman of the Great Western Bancorporation.
Bancorp 34, Inc. is the holding company for Bank 34 (the Bank). The Company conducts a full-service community banking business through the Bank. The Company offers a full range of relationship-focused services to meet its clientâs business and personal financial objectives, with branches in Arizona and New Mexico. Its product lines include commercial loans, commercial real estate loans, and a variety of commercial and consumer deposit products, including noninterest bearing accounts, interest-bearing demand products, savings accounts, money market accounts and certificates of deposit. It also offers online banking and bill payment services, online cash management, safe deposit box rentals, debit card and automated teller machine (ATM) card services and the availability of a network of ATMs for its customers. Its segments include Commercial loans, Commercial real estate loans, Multifamily, Construction and land development loans, Residential real estate loans, and Consumer loans.