July 20, 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 Q2 2023
Jennings, La., July 20, 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 three and six-month periods ended June 30, 2023.
Net income for the three-month period ended June 30, 2023 is $3,216,519 or $0.94 per common share compared to $2,085,229 or $0.61 per common share for the linked quarter ended March 31, 2023 and $3,137,156 or $0.92 per share for the prior year quarter ended June 30, 2022. Pre-tax, pre-provision (PTPP) operating income for the quarter ended June 30, 2023 is $4,373,181, reflecting a 2% increase over the $4,282,092 for the linked quarter and 30% over the $3,373,737 for the prior year quarter. PTPP operating income excludes taxes, provision for credit losses, net gains or losses on the sale of other real estate owned (OREO), net losses on the sale of investment securities and other non-recurring revenue and expense items. The increase in current period PTPP operating income compared to both the linked and prior year periods is driven primarily by stronger interest income resulting from a higher volume of average loans outstanding at higher average yields and is partially offset by increased interest and non-interest 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\