JD Bancshares, Inc. Reports Financial Results for Q3 2024

Jennings, LA., October 24, 2024 (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 nine-month periods ended September 30, 2024.

Net income is $3,706,103 or $1.08 per share for the three-month period ended September 30, 2024, compared to $3,028,833 or $0.88 per share for the linked quarter ended June 30, 2024 and $3,492,852 or $1.02 per share for the three-month period ended September 30, 2023. Pre-tax, pre-provision operating income (PTPPI) for the current quarter is $4,285,522, reflecting an increase compared to $3,951,414 and $4,154,284 for the linked and prior year quarters, respectively. PTPPI excludes taxes, provision for loan losses, losses on the sale of other real estate owned (OREO), losses on the sale of investment securities, and other non-operating expenses. The increase in PTPPI between the current and linked quarter is primarily due to higher levels of net interest income and the increase between the current and prior year quarter is attributable to higher net interest income, partially offset by higher non-interest expense.

For the nine-month period ended September 30, 2024, net income is $10,387,333 or $3.03 per share compared to $8,794,599 or $2.57 per share for the prior year comparative period. PTPPI for the current nine-month period is $11,946,182 reflecting a 6.74% decrease from $12,809,557 for the prior year period. The decrease is attributable to a 2.3% increase in non-interest expense.

Paul Brummett, II, CEO commented, “We are excited to report our third quarter net income results of $3.7 million, which exceeds net income for both the June 30, 2024 and September 30, 2023 quarters. Despite the continued higher rate environment, our net interest margin expanded for the comparative quarters. Our year-to-date financial performance is up $1.6 million when compared to last year, the prior year’s results include an after-tax loss realized on the sale of investment securities in the first quarter of $998,000. We remain focused on growing earnings through generating quality, well-priced loans while controlling non-interest expenses. We are encouraged by new loan activity and rates on new and renewed loans. I am pleased with the performance of the Company and our team’s efforts to continue “To Be The Best Community Bank in Louisiana”.”

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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\