JD Bancshares, Inc. and JD Bank Announce Resignation of Bruce W. Elder as President and CEO

Jennings, La., August 20, 2024 (ACCESSWIRE) – The Board of Directors of JD Bancshares, Inc. (OTCQX:JDVB), the parent holding company of JD Bank (collectively the “Company”), announced today that Bruce W. Elder has submitted his resignation as the President and Chief Executive Officer effective September
30, 2024. Mr. Elder has led the Company since November 19, 2019, and is resigning for personal family reasons and not as a result of any disagreements with the Board of Directors or the Company. Mr. Elder will remain in his role as President and Chief Executive Officer through the end of September to ensure an orderly transition to the next leader. In connection with his resignation as President and Chief Executive Officer, Mr. Elder will also step down from his service as a director.

Mr. Elder stated “I have enjoyed my time here at the Company and will cherish the friends and relationships I have formed here in south Louisiana. When accepting this position back in 2019, I did not consider the age of my parents living on the east coast and the need for me to be closer to them. Leading this talented management team has been a rewarding experience, and I am confident that our
accomplishments will form a strong foundation for the future.” Chairman Donald stated, “We truly appreciate Bruce’s service to JD Bank and JD Bancshares, Inc. and wish him success in his future endeavors.”

The Company will follow its Board-approved succession plan to determine Mr. Elder’s replacement.

About JD Bancshares, Inc.
JD Bancshares, Inc. is the bank holding company of JD Bank, a Louisiana state-chartered bank headquartered in Jennings, Louisiana.  JD Bank has been serving the citizens of south 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 22 full-service branch offices and two loan and deposit production offices located along the I-10 and I-12 corridors from Lake Charles to Mandeville, Louisiana.  Additional information is available on its website at jdbank.com.