July 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. Announces Solid Financial Results for Q2 2022
Jennings, LA., July 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 three and six month periods ended June 30, 2022.
Net income for the three-month period ended June 30, 2022 is $3,137,156 or $0.92 per common share compared to $2,108,163 or $0.62 per common share for the linked quarter ended March 31, 2022 and $2,593,570 or $0.76 per share for the prior year quarter ended June 30, 2021. Net income for the current period increased by 49% and 21% over the linked and prior year periods, respectively. Pre-tax, pre-provision operating income for the quarter ended June 30, 2022 is $3,373,737, reflecting a 47% increase over the $2,291,078 for the March 31, 2022 quarter and 27% over the $2,650,453 for the quarter ended June 30, 2021. Pre-tax, pre-provision operating income excludes taxes, provision for loan losses, net gains or losses on the sale of other real estate owned (“OREO”), net gains on the sale of investment securities, recognized origination fees earned from the Paycheck Protection Program (“PPP”) and other non-recurring items. The increase in current period earnings compared to both the linked and prior year periods is driven primarily by stronger net interest income resulting from transitioning earning assets from lower yielding categories into loans and investment securities.
For the six-month period ended June 30, 2022, net income is up 16% to $5,245,223 or $1.53 per share compared to $4,513,549 or $1.32 per share for the prior year comparative period. Pre-tax, pre-provision operating earnings for the two comparative six-month periods is $5,664,719 and $4,689,331, respectively.
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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