Bancorp 34, Inc. announced a private placement of 511,408 common shares, 521,849 preferred shares at a price of $14 per share for aggregate gross proceeds of $14,465,598 and 100,315 warrants on December 30, 2022. The transaction was led by new investor Castle Creek Advisors VIII LLC and involved participation from other investors. The preferred shares can be converted to non-voting common shares in the future, subject to required regulatory and shareholder approvals.

The company raised $14,044,282 pursuant to regulation D.