April 25, 2023
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 2023
Jennings, La., April 25, 2023 (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, 2023.
Net income for the three-month period ended March 31, 2023 is $2,085,229 or $0.61 per share compared to $3,421,668 or $1.00 per share for the linked quarter ended December 31, 2022 and $2,108,163 or $0.62 per share for the prior year period ended March 31, 2022. Pre-tax, pre-provision operating income (PTPPOI) for the current quarter is $4,211,047 compared to $4,645,024 for the linked quarter and $2,291,078 for the prior year quarter. PTPPOI excludes taxes, loan loss provision, net losses on the sale of other real estate owned (OREO), net losses on the disposal of available for sale investment securities, other than temporary impairments and the recognition of origination fees on loans made pursuant to the Paychecks Protection Program (PPP). The decrease in PTPPOI for the current period compared to the linked period is primarily due to an increase in interest expense and a decline in non-interest income. Compared to the prior year quarter, the increase in PTPPOI is due to a significant improvement in net interest income and partially offset by an increase in noninterest expenses.
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\