January 25, 2023 
JD Bancshares, Inc. 

For more information contact:
Bruce Elder (CEO) (337-246-5399)
Paul Brummett (CFO) (337-246-5395)

JD Bancshares, Inc. Reports Financial Results for QUARTER ENDED MARSH 31, 2024

Jennings, La., April 25, 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 quarter ended March 31, 2024.

Net income for the three-month period ended March 31, 2024 is $3,652,396 or $1.07 per share compared to a net loss of $(2,213,692) or $(0.65) for linked quarter ended December 31, 2023 and $2,085,229 or $0.61 per share for the prior year quarter ended March 31, 2023. Net income for both the linked and prior year quarters included losses associated with the partial restructuring of the investment securities portfolio. Pre-tax, pre- provision operating income (PTPPOI) for the current quarter is $3,709,245 compared to $3,910,715 for the linked quarter and $4,282,092 for the prior year quarter. PTPPOI excludes taxes, credit loss provisions, net losses on the sale of other real estate owned (OREO), and net losses on the disposal of available for sale investment securities. The decrease in PTPPOI for the current quarter compared to the linked quarter is primarily due to a 13.0% increase in interest expense which resulted in lower net interest income. Compared to the prior year quarter, the decrease is due to a reduction in net interest income and higher non-interest expenses.

Bruce Elder, President and CEO, commented, “Earnings for the first quarter of 2024 receive a mixed review. On a Generally Accepted Accounting Principles (GAAP) basis, net income compares very favorably to comparative quarters. On a pre-tax, pre-provision operating basis, the effects of higher funding and other non-interest expense costs had an adverse impact on comparative trends. Current economic conditions remain favorable and loan demand is steady, and we will strive to continue to transition lower yielding assets into higher earning loans to help combat the higher costs of funding.”

Elder continued, “We have made a commitment to our teammates at JD Bank to retention and pay equity and therefore, we anticipate salary and benefits expense to increase over the coming quarters. Some of that increase will be offset through a reduction in other non-interest expenses. We recently renegotiated our core data processing agreement and expect lower overall processing 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 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 Production/Deposit Production offices located along the Interstate 10/12 corridor from Lake Charles to Mandeville, Louisiana. JD Bancshares, Inc. may be accessed on its website at

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\

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