PRESS RELEASE 
January 25, 2023 
JD Bancshares, Inc. 

FOR IMMEDIATE RELEASE
For more information contact:
Bruce Elder (CEO) (337-246-5399)
Paul Brummett (CFO) (337-246-5395)
Website: www.jdbank.com

JD Bancshares, Inc. Reports Financial Results for Q3 2023

Jennings, LA., January 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 three and twelve-month periods ended December 31, 2023. 

The Company reports a net loss for the three-month period ended December 31, 2023 of $(2,213,692) or $(0.65) per share compared to net income of $3,492,852 or $1.02 per share for the linked quarter ended September 30, 2023 and $3,421,668 or $1.00 per common share for the prior year quarter ended December 31, 2022. The results for the current three-month period are impacted by the previously disclosed after-tax loss of $5,196,440 on the sale of $55.0 million of US Treasury securities in November. Pre-tax, pre-provision operating income (PTPPOI) for the current quarter is $3,910,715 compared to $4,154,284 for the linked quarter and $4,645,024 for the comparative prior year quarter. The decline in PTPPOI over the linked quarter is primarily due to increased non-interest expenses and declining non-interest income which more than offset a slight increase in net interest income. The decline in PTPPOI compared to the prior year quarter is due to a decrease in net interest income from increasing funding costs, declining non-interest income and increasing non-interest expenses. PTPPOI excludes taxes, provision for loan losses, recognized origination fees earned from the Paycheck Protection Program (PPP), net gains and losses on the sale of other real estate owned (OREO), losses on the sale of investment securities and other non-recurring items. 

For the twelve-month period ended December 31, 2023, net income is $6,580,906 or $1.92 per share compared to $12,095,763 or $3.54 per share for the prior year period ended December 31, 2022. Net income for the current year period is impacted by the after-tax losses realized on the sale of securities in November and March 2023 totaling $6,194,289. Pre-tax, pre-provision operating earnings for the two comparative twelve-month periods increased by 14.35% and are $16,720,270 compared to $14,622,568. The increase is due to a substantial increase in net interest income and partially offset by lower non-interest income and higher non-interest expenses. 

CLICK HERE TO READ THE FULL RELEASE

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 jdbank.com.

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\

Recommended Posts