JD Bancshares, Inc. Reports Financial Results for Q3 2020

PRESS RELEASE 
October 22, 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 Q3 2020

Jennings, LA., October 22, 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 three and six month periods ended June 30, 2020.

Net income is $1,693,921 or $1.09 per common share for the three-month period ended September 30, 2020 compared to $1,648,996 or $1.06 per share for the linked quarter ended June 30, 2020 and $2,373,939 or $1.52 per share for the prior year quarter ended September 30, 2019. Larger than anticipated loan loss provisions have been recorded for the 2020 quarters due to the uncertainty surrounding the economic impact on both our commercial and consumer loan customers resulting from the COVID-19 pandemic. For comparative purposes, pre-tax, pre-provision operating income provides greater insight into the financial performance of the Company. Pre-tax, pre-provision operating income for the current quarter is $2,637,056 compared to $2,847,642 for the linked quarter and $2,963,064 for the comparative prior year quarter. Pre-tax, pre-provision operating income excludes taxes, provision for loan losses, losses on the sale of other real estate owned and gains on the sale of investment securities. The current quarter decline is due to a decrease in the amount of Small Business Administration (SBA) Paychecks Protection Program (PPP) origination fees recognized and lower yields on earning assets.

CLICK HERE TO DOWNLOAD THE FULL PRESS RELEASE

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.

JD Bancshares, Inc. Declares Cash Dividend

PRESS RELEASE 
September 23, 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. Declares Cash Dividend

Jennings, Louisiana – JD Bancshares, Inc. (OTCQX: JDVB) Dan L. Donald, Jr., Chairman of the Board of Directors of JD Bancshares, Inc., announced that at its regularly scheduled meeting on September 22, 2020, the Board voted to pay a cash dividend in the amount of $0.59 per share on October 9, 2020 to the shareholders of record on October 2, 2020.

The future impact of the COVID-19 pandemic and Hurricane Laura, has created some uncertainty in what has typically been a very stable quarterly earnings pattern for JDVB. During these uncertain times, it becomes even more important that your Company ensure appropriate levels of capital are maintained. Therefore, we will review the timing and level of future quarterly cash dividend declarations.

CLICK HERE TO DOWNLOAD THE FULL PRESS RELEASE

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.

JD Bancshares, Inc. Reports Financial Results for Q2 2020

PRESS RELEASE 
July 23, 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 Q2 2020

Jennings, LA., July 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 three and six month periods ended June 30, 2020.

Net income for the three-month period ended June 30, 2020 was $1,648,996 or $1.06 per common share compared to $1,557,713 or $1.00 per share for the linked quarter ended March 31, 2020 and $2,442,925 or $1.57 per share for the prior year quarter ended June 30, 2019. Financial results for the current year quarters were impacted by large loan loss provisions in consideration of the uncertainty surrounding the COVID-19 pandemic crisis. Due to the large provisions, evaluating the Company on a pre-tax, pre-provision operating income basis provides greater insight when comparing recurring financial performance over periods. Pre-tax, pre-provision operating income for the quarter ended June 30, 2020 was $2,847,642 compared to $2,502,248 for the linked quarter and $2,762,858 for the comparative prior year quarter. Pre-tax, pre-provision operating income excludes taxes, provision for loan losses, losses on the sale of other real estate owned and gains on the sale of investment securities. Pre-tax, pre-provision operating earnings for the current period were positively affected by the recognition of a portion of fees received as a result of our participation in the Small Business Administration (SBA) Paychecks Protection Program. (PPP). Other factors having a significant impact on current quarter earnings include the 150 basis point decline in short-term interest rates occurring in March 2020, the impact on non-PPP loan demand given the uncertainty of economic conditions and the excess liquidity generated as a result of substantial deposit growth since year end.

CLICK HERE TO DOWNLOAD THE FULL PRESS RELEASE

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.

JD BANCSHARES RANKED IN TOP 200 PUBLICLY TRADED COMMUNITY BANKS BY AMERICAN BANKER MAGAZINE

PRESS RELEASE

June 22, 2020

FOR IMMEDIATE RELEASE
Contact: Ann Barilleaux, JD Bank
(337) 656-7326
ann.barilleaux@jdbank.com

JD BANCSHARES RANKED IN TOP 200 PUBLICLY TRADED COMMUNITY BANKS BY AMERICAN BANKER MAGAZINE

Jennings, La.- JD Bancshares, Inc. (the “Company”), (OTCQX: JDVB), the parent holding company of JD Bank, is pleased to announce that it has been named to American Banker magazine’s Top 200 Publicly Traded Community Banks. The ranking is based on three-year average return on equity through December 31, 2019. The Company began trading March 16, 2020, on OTCQX under the symbol “JDVB.”

“It is an honor to be recognized on this prestigious list of community banks,” said Bruce W. Elder, JD Bank President and CEO. “Our talented team makes our success possible and this recognition provides evidence that our values, service and products are creating value for our stockholders.”

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 has been serving the citizens of southwest Louisiana since 1947 and 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. may be accessed on its website at www.jdbank.com/investor-relations.

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.

About JD Bank

Founded in 1947, JD Bank, Louisiana’s Community Bank, offers a variety of personal and commercial lending and deposit products through both physical and digital delivery channels. JD 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. For more information, visit www.jdbank.com or call 800-789-5159. Member FDIC. Equal Housing Lender.

JD Bancshares, Inc. Declares Cash Dividend

PRESS RELEASE

June 17, 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. Declares Cash Dividend

Jennings, Louisiana – JD Bancshares, Inc. (OTCQX: JDVB) Dan L. Donald, Jr., Chairman of the Board of
Directors of JD Bancshares, Inc., announced that at its regularly scheduled meeting on June 16, 2020,the Board voted to pay a cash dividend in the amount of $0.59 per share on July 6, 2020 to the shareholders of record on June 26, 2020.

The amount and payment of future dividends for the JD Bancshares, Inc. common stock is determined on a quarterly basis, based on earnings, financial condition, capital requirements and other factors.

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 has been serving the citizens of southwest Louisiana since 1947 and 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. may be accessed on its website at www.jdbank.com/investor-relations.

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.

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.

CLICK HERE TO DOWNLOAD THE FULL PRESS RELEASE

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.

JD Bancshares, Inc. Declares Cash Dividend

press-release-featured-image
PRESS RELEASE
March 18, 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. Declares Cash Dividend

Jennings, Louisiana – JD Bancshares, Inc. (OTCQX: JDVB) Dan L. Donald, Jr., Chairman of the Board of Directors of JD Bancshares, Inc., announced that at its regularly scheduled meeting on March 17, 2020, the Board voted to pay a cash dividend in the amount of $0.59 per share on April 3, 2020 to the shareholders of record on March 28, 2020.

The amount and payment of future dividends for the JD Bancshares, Inc. common stock is determined on a quarterly basis, based on earnings, financial condition, capital requirements and other factors.

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.

CLICK HERE TO DOWNLOAD THE PRESS RELEASE

OTC Markets Group Welcomes JD Bancshares, Inc. to OTCQX

JDVB-graphic

NEW YORKMarch 16, 2020 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced JD Bancshares, Inc. (OTCQX: JDVB), the parent company of JD Bank, has qualified to trade on the OTCQX® Best Market. JD Bancshares upgraded to OTCQX from Pink® market.

JD Bancshares begins trading today on OTCQX under the symbol “JDVB.”  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Bruce W. Elder, President and CEO said “We are excited to upgrade JD Bancshares, Inc. to the OTCQX® Best Market and look forward to having greater visibility to the investing public.  The Company has served the southwest Louisiana market since 1947 and while we are well known in our local footprint, we look forward to telling our story and introducing JD Bank to a broader audience.”

Raymond James & Associates, Inc. acted as the company’s OTCQX sponsor.

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

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

JD Bancshares, Inc. Reports Financial Results for the Year Ended December 31, 2019

press-release-featured-image

PRESS RELEASE
February 20, 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 the Year Ended December 31, 2019

 

Jennings, Louisiana – JD Bancshares, Inc. (OTC PINK: JDVB) (the “Company”), the parent holding company of JD Bank (the “Bank”), reports its unaudited financial results for the year ended December 31, 2019.  

Net income for the twelve month period ended December 31, 2019 was $8,947,846 or $5.74 per common share compared with $9,391,054 or $6.04 per common share for the twelve-month period ended December 31, 2018.  Financial results for the year ended December 31, 2018 included a non-recurring payment received from our insurance company in the amount of $1,520,073, net of tax, to settle prior year litigation.  Gains on the sale of securities, net of taxes, were $306,834 and $4,255 for 2019 and 2018, respectively.  Excluding the effects of these non-operating items, net income and earnings per common share for the twelve-month periods ended December 31, 2019 and 2018 would have been $8,641,012 or $5.54 and $7,866,726 or $5.06, respectively.  The increase in adjusted operating net income was primarily due to an increase in net interest income, partially offset by an increase in non-interest expenses and higher credit provisioning expense. 

Bruce Elder, President and CEO, commented, “I am pleased to report the Company’s results for 2019. The past year has been one of change for the Company due to a shift in leadership.  The management team stayed focused during the transition and produced increased adjusted operating results for the year.  As 2020 comes into view, we will be focused on gaining efficiencies as the new CEO looks at the Bank and Company from a new perspective.  As a team, we will blend certain processes that have served this Company well in the past with fresh concepts designed to move the Company forward for the future.” 

Asset Quality

Total nonperforming assets, including loans on non-accrual status, restructured loans on non-accrual status and other real estate owned (OREO) increased to $8.7 million at December 31, 2019, from $5.8 million at December 31, 2018.  Loans on non-accrual status increased to $7.7 million at December 31, 2019, from $5.1 million December 31, 2018. Other real estate owned increased to $956,000 at December 31, 2019 from $632,000 at the prior year-end, reflecting foreclosure activity net of sales and write-downs of certain real estate properties.  Management performs a quarterly evaluation of OREO properties and believes their adjusted carrying values are representative of their fair market values, although there is also no assurance that the ultimate sales will be equal or greater than the carrying values.

The Bank recorded $696,000 in provisions for credit losses in the 2019 compared to $189,000 in the prior year.  The allowance for loan losses (ALLL) was $6.6 million at December 31, 2019 or 1.06% of total loans compared to $6.4 million at December 31, 2018 or 1.02% of total loans.  Net charge offs were $471,000 for 2019 period compared to $496,000 in 2018.  We believe the current level of our ALLL is adequate; however, there is no assurance that regulators, increased risks in the loan portfolio, or changes in economic conditions will not require additional adjustments to the ALLL.

Net Interest Income

Net interest income increased to $35.3 million for the year ended December 31, 2019 from $33.0 million for the comparative period ended December 31, 2018. The change in levels of net interest income is influenced by the volume of interest-earning assets and interest-bearing liabilities and the management of rates earned and paid during each respective reporting period. The net interest margin improved to 4.40% in 2019 compared to 4.14% in 2018.  The increase in margin is due to both an increase in the volume of average earning assets over the current twelve-month period as well as an increase in the yield on earning assets.

Non-Interest Income

Total non-interest income was $9.8 million for the year ended December 31, 2019 compared to $11.3 million for the prior year period.  Service charges and other deposit account related income increased by approximately $120,000 year over year primarily comprised of an increase in debit card interchange and ATM surcharge revenue of $133,000, an increase in NSF fee income of $18,000, and a decline in deposit service charges of $37,000. 

Revenue from mortgage loan sales and related fees increased by $42,000 in 2019 to $565,000. Although the volume of mortgages sold in the secondary market declined by approximately $2.6 million, the margin on those sales increased by 20 basis points.  Fees and commissions from securities brokerage activities totaled $601,000 in 2019, reflecting a $162,000 increase over 2018.  Revenue from our trust division increased to $505,000 from $478,000 for the prior year.

Gains on sale of investment securities for the year ended 2019 were $388,000 compared to $5,000 for the year ended 2018.  Other non-interest income declined by $2.2 million when compared to the prior year primarily due to the receipt of insurance proceeds in the second quarter of 2018 of approximately $2.1 million to settle litigation from 2016.

Non-Interest Expense

Total non-interest expense increased to $33.7 million for the year ended December 31, 2019 from $32.7 million for the prior year period ended December 31, 2018.  Compensation and benefits, the largest component of these expenses, increased marginally by $61,000 to $18.1 million for 2019.   The largest increase in non-interest expense between 2019 and 2018 was in the area of data processing.  Prior to late 2018, the Bank did all account processing on an in-house platform.  The decision was made to outsource account processing to a data center environment.  While more expensive to process in an outsourced environment, the benefits derived from data security and system uptime outweighed the additional costs.  Occupancy expenses also increased in 2019 primarily in the areas of depreciation, repairs, and maintenance.  Other noninterest expenses declined by $280,000 due to decreases in expenses related to OREO and FDIC insurance.  These decreases were partially offset by higher expenses in the areas of professional consulting and communications.

Income tax expense declined by $241,000 to $1.7 million for the 2019 compared with $2.0 million for the prior year.  The decline was due to lower pre-tax income and a reduction in the effective tax rate from 17.26% for 2018 to 16.11% for 2019.  The reduction reflects the higher volume of tax-exempt municipal securities on the balance sheet for 2019. 

Balance Sheet

Total assets increased by $20.3 million or 2.35% to $885.0 million at December 31, 2019 from $864.7 million at December 31, 2018. The increase in total assets was primarily in the categories of securities available for sale, interest bearing deposits at banks, and other stock equity investments which rose by $25.4 million, $2.4 million and $1.3 million, respectively.  Net loans held for investment declined by $4.9 million to $614.1 million, securities held to maturity declined by $4.3 million and bank premises and equipment decreased by $1.0 million.   

Total deposits increased by $13.3 million or 1.75% to $772.1 million at December 31, 2019 from $758.8 million at December 31, 2018. Money market, interest bearing checking, non-interest bearing checking, and savings account balances all increased during the year by $9.0 million, $4.8 million, $1.4 million and $100,000, respectively.  Non-interest bearing checking accounts represent 34.75% of total deposit balances at year-end 2019.  Time deposit and individual retirement accounts declined by $2.0 million during the year.

Stockholders’ equity increased by $7.9 million to $88.9 million at December 31, 2019 from $81.0 million at December 31, 2018, reflecting year-to-date net income, changes in accumulated other comprehensive income and dividends paid to common shareholders.  The tangible equity to assets ratio increased to 9.46% at December 31, 2019 from 9.09% at December 31, 2018.  There were 1,560,000 and 1,555,156 common shares outstanding at December 31, 2019 and 2018, respectively.  Tangible book value per common share increased to $53.70 at year-end 2019 compared to $50.39 for the prior year-end.

Key Performance Ratios

GAAP return on average assets (ROA) and return on average equity (ROE) declined in 2019.  ROA is 1.03% for the current year compared to 1.10% for 2018 and ROE is 10.38% for 2019 compared to 12.09% for the prior year-end.   On an adjusted operating basis, eliminating the gains on sales of securities for both years and the insurance settlement in 2018, ROA improved in 2019 to 0.99% compared to 0.92% in 2018 and ROE declined slightly to 10.03% from 10.13%.  The GAAP efficiency ratio is 74.77% for the current year compared to 73.94% for the prior year. On an adjusted operating basis, the efficiency ratio is 75.42% for 2019 compared to 77.30% for 2018.  

JD Bancshares, Inc. may be accessed on its website at www.jdbank.com.  The Company’s common stock symbol as traded on the OTC Pink Sheets is “JDVB”.  The Company anticipates registering with the OTC-QX exchange during the first quarter of 2020.

JD Bank has been serving the citizens of southwest Louisiana since 1947 and offers a variety of financial products and services, including a trust and investment services.  Securities brokerage services are made available through an affiliation with an independent broker/dealer. The Bank operates through its main office headquartered in Jennings, Louisiana, and has 21 full service branch offices located along the Interstate 10 corridor from Lake Charles to Lafayette.

Statements contained in this release, which are not historical facts, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors which include the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, the effects of competition, and including without limitation to other factors that could cause actual results to differ materially as discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

CLICK HERE TO READ THE FULL RELEASE WITH FINANCIALS

 

(OTC PINK: JDVB)

JD BANCSHARES, INC. DECLARES CASH DIVIDEND

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Jennings, La. – Dan L. Donald, Jr., Chairman of the Board of Directors of JD Bancshares, Inc. announced that at its regularly scheduled meeting on December 17, 2019, the Board voted to pay a cash dividend in the amount of $.59 (cents) per share on January 3, 2020 to the shareholders of record of December 27, 2019.

 

The amount and payment of future dividends for the JD Bancshares, Inc. common stock is determined on a quarterly basis, based on earnings, financial condition, capital requirements and other factors.

About JD Bank

Founded in 1947, JD Bank, Louisiana’s Community Bank, offers
personal and business banking services across Southwest Louisiana and Acadiana,
and the latest in online and mobile banking. For more information, visit www.jdbank.com or
call 800-789-5159. Member FDIC. Equal Housing Lender.