JD Bancshares, Inc. Reports Financial Results for Q1 2020

PRESS RELEASE
April 24, 2020
JD Bancshares, Inc.

FOR IMMEDIATE RELEASE
For more information contact:
Bruce Elder (CEO) (337-246-5399)
Paul Brummett (EVP) (337-824-1422)
Website: www.jdbank.com
JD Bancshares, Inc. Reports Financial Results for Q1 2020

Jennings, La., April 23, 2020 (ACCESSWIRE) – JD Bancshares, Inc. (the “Company”), (OTCQX: JDVB), the parent holding company of JD Bank (the “Bank”), reports its unaudited financial results for the quarter ended March 31, 2020.

Net income for the three-month period ended March 31, 2020 was $1,557,713 or $1.00 per common share compared to $2,040,974 or $1.31 per share for the prior year comparative period ended March 31, 2019. Financial results for the current quarter were impacted by a large addition to the Bank’s credit reserves in
consideration of losses which may result from financial distress experienced by loan customers due to the COVID-19 pandemic crisis. Due to the large provision, evaluating performance from a pre-tax, pre-provision
operating income basis provides greater insight from a comparative standpoint. Pre-tax, pre-provision operating income for the current quarter declined by $189,337 and was $2,502,249 compared to $2,691,586 for the comparative prior year quarter. Aside from taxes and loan loss provision, pre-tax, pre-provision operating income also excludes losses on the sale of other real estate owned. The decrease in earnings between the current and prior year quarter was due to a combination of lower net interest income, higher loan loss provision and non-interest expenses, offset by improved non-interest income.

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About JD Bancshares, Inc.

JD Bancshares, Inc. is the bank holding company of JD Bank, a state chartered bank headquartered in Jennings, Louisiana. JD Bank offers a variety of personal and commercial lending and deposit products through both physical and digital delivery channels. The Bank also offers both trust and investment services. JD Bank operates through 21 full service branch offices located along the Interstate 10 corridor from Lake Charles to Lafayette, Louisiana.

JD Bancshares, Inc. (OTCQX: JDVB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

COVID-19 Stimulus Scams

COVID-19 Stimulus Scams

Congress has recently passed a large COVID-19 relief and stimulus package. As with other aspects of the COVID-19 pandemic, fraudsters are exploiting the relief and stimulus to victimize the public. The U.S. Secret Service is observing a rise in stimulus relief fraud over the past several days and expect the fraud attempts to continue throughout the pandemic.

Criminal actors are using a variety of means to contact potential victims. In one instance, the criminal actors are using spoofed email addresses posing as U.S. Treasury officials requesting that the victim provide personal identifying information (PII), so that they can receive their share of the stimulus. A redacted example of an attack email is below:

Other than via email, criminal actors are contacting potential victims via SMS/text, robocalls, and other messaging platforms. Through texts, criminal actors are sending links which directs individuals to a website, which then prompts the potential victim to enter PII and other sensitive information, such as bank account numbers, email addresses, and passwords. See below for an example of an attack SMS sent to a potential victim.

The attack above contained the victim’s real name, giving the text an appearance of legitimacy. Official stimulus/relief information regarding COVID-19 will never be sent via text/SMS or on any other messaging platforms.

Foreign partners are also seeing an uptick in COVID-19 stimulus relief fraud. The U.S. Secret Service anticipates instances of similar fraud affecting U.S. citizens in the coming weeks. The method is the same- a potential victim will receive a text message directing them to a link. Once they reach the link, they are prompted to enter a variety of PII data. See below for another example of these SMS/Smishing attacks received by our foreign partners.

The U.S. Secret Service stresses that individuals seeking information about the stimulus/relief program to contact the specific government agency via its website for guidance. Individuals should follow protocols published by those government websites. During this time, it is stressed that the public maintain an increased vigilance when providing any PII or other privileged and protected information.

The U.S. Secret Service is working with domestic and foreign law enforcement partners, along with the private sector, to disrupt and dismantle COVID-19 related fraud schemes. If anyone has any information related to this alert, the GIOC can be contacted at GIOC@usss.dhs.gov.

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