Bancorp 34, Inc. Completes Subscription Offering

ALAMOGORDO, N.M., Sept. 12, 2016 /PRNewswire/ -- Alamogordo Financial Corp. (the "Company") (OTCPK: ALMG), the holding company for Bank 34, announced today that Bancorp 34, Inc., a newly formed corporation that is the proposed successor holding company for Bank 34, has completed the subscription offering being conducted in connection with the Company's previously announced plans to become a fully public company.

Based upon the orders received in the subscription offering, it is expected that no community offering or syndicated offering will be held. The Company is currently processing the orders received; accordingly, no further information regarding the offering is available at this time. The closing of the offering and conversion remains subject to customary regulatory approvals, as well as the approval of depositors and certain borrowers of Bank 34 and stockholders of the Company.  Special meetings of depositors and certain borrowers of Bank 34 and stockholders of the Company have been called for September 21, 2016.

If you have any questions regarding the offering or the conversion, please call the Stock Information Center at 1-(877) 643-8198. The Stock Information Center is open from 9:00 a.m. to 3:00 p.m., New Mexico Time, Monday through Friday.

Forward-Looking Statements

This press release contains certain forward-looking statements about the conversion and reorganization.  Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts.  They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may."  Forward-looking statements, by their nature, are subject to risks and uncertainties.  Certain factors that could cause actual results to differ materially from expected results include: delays in consummation of the transactions contemplated by the Plan of Conversion and Reorganization; confirmation of final offering proceeds; risks related to the real estate and economic environment, particularly in the market areas in which the Company operates; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company's  and Bancorp 34, Inc.'s filings with the Securities and Exchange Commission.

The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact: Jan Thiry
EVP/Chief Financial Officer
623.463.1440
[email protected]

SOURCE Alamogordo Financial Corp.