JD Bancshares, Inc. Reports Financial Results for Three and Twelve-Month Periods Ended December 31, 2024

Jennings, LA., January 28, 2025 (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, 2024. 

Net income is $3,192,295 or $0.93 per share for the three-month period ended December 31, 2024, compared to  $3,706,103 or $1.08 per share for the linked quarter ended September 30, 2024 and a net loss of $(2,213,692) or  $(0.65) per share for the three-month period ended December 31, 2023. Pre-tax, pre-provision operating income (PTPPI) for the current quarter is $3,873,500, reflecting a decrease compared to $4,285,522 and $3,910,715 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 decrease in PTPPI between the current and comparative quarters is primarily due to lower net interest income.

For the twelve-month period ended December 31, 2024, net income is $13,579,624 or $3.96 per share compared  to $6,580,906 or $1.92 per share for the prior year comparative period. PTPPI for the current twelve-month period  is $15,819,679 reflecting a 5.39% decrease from $16,720,270 for the prior year period. The decrease is  attributable to a 1.4% increase in non-interest expense.

Paul Brummett, II, CEO commented, “JD Bank’s strong performance in 2024 demonstrates our team’s ability to  successfully navigate demanding economic and political cycles. We made significant progress during 2024,  improving earnings through the optimization of our balance sheet. We are pleased to report our fourth quarter net  income results of $3.2 million. Our year-to-date financial performance is up $7.0 million when compared to last  year, the prior year’s results include an after-tax loss realized on the sale of investment securities during the year of $6.2 million. We remain focused on growing earnings through generating quality, well-priced loans while  controlling non-interest expenses. We are evaluating opportunities to improve our physical branch footprint  across our markets while continuing to improve efficiency through digital channels. Overall activity throughout  our markets is steady and encouraging.”  

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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\