Bancorp 34 CEO Jim Crotty resigns, Ciaran McMullan becomes new chief

Bancorp 34, Inc., the holding company for Southwest Heritage Bank, has announced the resignation of its Chief Executive Officer, Jim Crotty, effective April 1, 2024.

Jim Crotty, who has been at the helm since 2020, is credited with leading the company through substantial growth, culminating in a merger with CBOA Financial, Inc. and an expansion to $1 billion in total assets.

Randy Rabon, Chairman of the Board, expressed gratitude for Crotty’s contributions, particularly highlighting his role in the successful merger and in attracting seasoned institutional investors through private placement transactions.

“Jim’s dedication and hard work have been invaluable, and we wish him the best in his future endeavors,” Rabon stated.

Reflecting on his tenure, Crotty shared, “It has been an honor to lead such a dedicated team, and I am confident in Southwest Heritage Bank’s trajectory towards continued success.”

He also mentioned his commitment to aiding the transition to new leadership.

In the wake of Crotty’s departure, Bancorp 34, Inc. has appointed Ciaran McMullan as the new Chairman and CEO.

McMullan brings a wealth of experience, having served in CEO roles across the U.S. banking sector and holding positions in global banking institutions and advisory firms.

His most recent post was as President and CEO of Suncrest Bank in California, preceded by leadership roles at National Australia Bank’s U.S. operations and Great Western Bancorporation.

The banking community watches closely as Bancorp 34, Inc. navigates this leadership transition, anticipating a seamless handover and continued growth under McMullan’s direction.