January 31, 2022
JD Bancshares, Inc.
JD Bancshares, Inc. Announces Stock Repurchase Plan
Jennings, La., January 31, 2022 (ACCESSWIRE) – JD Bancshares, Inc. (OTCQX: JDVB) (the “Company”) today announced that its Board of Directors has authorized a share repurchase plan under which the Company may repurchase up to $2.5 million of its outstanding shares of common stock through December 31, 2022.
“The announced share repurchase plan is part of a broader capital allocation strategy and demonstrates our confidence in the Company’s continued performance. We believe this is an attractive use of capital and takes steps toward creating long-term value for our investors” said Bruce W. Elder, President and CEO.
Under the repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases, all in compliance with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. The Company’s decision and timing to repurchase its shares will depend on a variety of factors, including the ongoing assessment of the Company’s capital position and needs, the market price of the Company’s common stock, general market conditions and other strategic considerations, as determined by management. The repurchase program may be suspended or discontinued at any time.
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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