Bancorp 34 to merge with CBOA Financial in a $28m deal.

Bancorp 34, the holding company of Bank 34, agreed to merge with CBOA Financial, a single-bank holding company and parent of the Commerce Bank of Arizona, in a $28m deal. "This is an exciting combination that will accelerate both companies' strategic goals by enhancing our ability to serve our customers. Higher lending limits will allow us to tap new opportunities and grow stronger relationships with our existing customers, while increased scale will allow us to more efficiently meet the needs of all our stakeholders. I am excited to partner with the Commerce team and believe we will do great things together," Jim Crotty, Bank 34 CEO.