July 26, 2021
JD Bancshares, Inc.
JD Bancshares, Inc. Reports Improved Financial Results for Q2 2021
Jennings, Louisiana – July 26, 2021 (ACCESSWIRE) – JD Bancshares, Inc. (the “Company”), (OTCQX: JDVB), the parent holding company of JD Bank (the “Bank”), reports its unaudited financial results for the three and six month periods ended June 30, 2021.
Net income for the three-month period ended June 30, 2021 is $2,593,570 or $1.51 per common share compared to $1,919,989 or $1.12 per share for the linked quarter ended March 31, 2021 and $1,648,997 or $0.96 per share for the prior year quarter ended June 30, 2020. Net income for the current period increased by 35% and 57% over the linked and prior year periods, respectively. Pre-tax, pre-provision operating income for the quarter ended June 30, 2021 is $3,222,715, reflecting a 13% increase over both the $2,852,906 for the March 31, 2021 quarter and $2,847,643 for the quarter ended June 30, 2020. Pre-tax, pre-provision operating income excludes taxes, provision for loan losses, losses on the sale of other real estate owned, net gains on the sale of investment securities and other non-recurring items. Earnings in the current period is positively impacted by increases in net interest income and non-interest income which more than offset higher non-interest expenses.
For the six-month period ended June 30, 2021, net income is up 41% to $4,513,549 or $2.63 per share compared to $3,206,711 or $1.87 per share for the prior year comparative period. Pre-tax, pre-provision operating earnings for the two comparative six-month periods was $6,075,609 and $5,349,892, respectively.
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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