Bancorp 34, Inc. and Southwest Heritage Bank (the Bank) announced that Jim Crotty has submitted his resignation as chief executive officer 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 chief executive officer 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.