April 21, 2022
JD Bancshares, Inc.
FOR IMMEDIATE RELEASE
For more information contact:
Bruce Elder (CEO) (337-246-5399)
Paul Brummett (CFO) (337-246-5395)
JD Bancshares, Inc. Reports Financial Results for Q1 2022
Jennings, LA., April 21, 2022 (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, 2022.
Net income for the three-month period ended March 31, 2022 is $2,108,163 or $0.62 per share compared to $2,977,470 or $0.87 per share for the linked quarter ended December 31, 2021 and $1,919,989 or $0.56 per share for the prior year period ended March 31, 2021. Pre-tax, pre-provision operating income for the current quarter was $2,291,078 compared to $3,056,080 for the linked quarter and $2,038,890 for the prior year quarter. Pre-tax, pre-provision operating income excludes taxes, loan loss provision, net losses on the sale of other real estate owned, net gains on the disposal of available for sale investment securities and the recognition of origination fees on loans made pursuant to the Paychecks Protection Program (PPP). The decrease in pre-tax, pre-provision operating earnings in the current period compared to the linked period is primarily due to a decline in non-interest income and an increase in non-interest expenses. The increase compared to the prior year quarter is due to an increase in net interest income and partially offset by increases in non-interest expenses.www.otcmarkets.com