PRESS RELEASE
April 24, 2020
JD Bancshares, Inc.

FOR IMMEDIATE RELEASE
For more information contact:
Bruce Elder (CEO) (337-246-5399)
Paul Brummett (EVP) (337-824-1422)
Website: www.jdbank.com
JD Bancshares, Inc. Reports Financial Results for Q1 2020

Jennings, La., April 23, 2020 (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, 2020.

Net income for the three-month period ended March 31, 2020 was $1,557,713 or $1.00 per common share compared to $2,040,974 or $1.31 per share for the prior year comparative period ended March 31, 2019. Financial results for the current quarter were impacted by a large addition to the Bank’s credit reserves in
consideration of losses which may result from financial distress experienced by loan customers due to the COVID-19 pandemic crisis. Due to the large provision, evaluating performance from a pre-tax, pre-provision
operating income basis provides greater insight from a comparative standpoint. Pre-tax, pre-provision operating income for the current quarter declined by $189,337 and was $2,502,249 compared to $2,691,586 for the comparative prior year quarter. Aside from taxes and loan loss provision, pre-tax, pre-provision operating income also excludes losses on the sale of other real estate owned. The decrease in earnings between the current and prior year quarter was due to a combination of lower net interest income, higher loan loss provision and non-interest expenses, offset by improved non-interest income.

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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.

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