JD Bancshares, Inc. Announces Q2 2025 Financial Results

Rhea-AI Summary

JD Bancshares (OTCQX:JDVB) reported Q2 2025 financial results with net income of $2.72 million ($0.79 per share), compared to $2.93 million ($0.85 per share) in Q1 2025 and $3.03 million ($0.88 per share) in Q2 2024.

Key Q2 2025 highlights include: Net interest income increased to $11.5 million, up $654,000 from Q1; Net interest margin improved to 4.08%; Total deposits grew 1.3% to $1.0 billion over six months; Gross loans increased 5.6% to $766.4 million from year-end 2024.

Asset quality remained strong with past due loans decreasing to 0.18% of total portfolio, down from 0.42% at year-end 2024. The Allowance for Credit Losses stands at $9.5 million or 1.24% of total loans.

Positive

• Net interest margin improved to 4.08% from 3.89% in Q1 2025
• Gross loans increased by $40.4 million (5.6%) over six months
• Past due loans decreased to 0.18% from 0.42% at year-end 2024
• Total deposits grew by $13.3 million (1.3%) over six months
• Net recoveries of $31,000 in Q2 2025 versus net charge-offs in previous quarters

Negative

• Net income decreased to $2.72 million from $3.03 million in Q2 2024 (-10.2%)
• Noninterest expenses increased by $764,000 from Q1 2025
• NSF fees declined to $638,000 from $722,000 in Q2 2024
• Cash position declined by $28.0 million to $30.9 million from year-end 2024

JENNINGS, LA / ACCESS Newswire / July 24, 2025 / 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 six- month periods ended June 30, 2025.

Net income for the three-month period ended June 30, 2025 is $2,721,225 or $0.79 per common share compared to $2,925,651 or $0.85 per common share for the linked quarter ended March 31, 2025 and $3,028,833 or $0.88 per share for the prior year quarter ended June 30, 2024. Pre-tax, pre-provision operating income (PTPPOI) for the quarter ended June 30, 2025 is $3,637,450 compared to $3,612,441 for the linked quarter and $3,951,414 for the prior year quarter. PTPPOI excludes taxes, provision for credit losses, net losses on the sale of other real estate owned (OREO), net losses on the sale of investment securities and other non-recurring expense items. The $25,000 increase in the current quarter PTPPOI compared to the linked quarter is due to a $654,000 increase in net interest income and a $135,000 increase in recurring non-interest income, partially offset by a $764,000 increase in recurring non-interest expense. The $314,000 decrease between current and prior year PTPPOI is due to a $569,000 increase in net interest income, offset by a $60,000 decrease in recurring non-interest income and an increase in recurring non-interest expenses of $823,000.

For the six-month period ended June 30, 2025, net income is $5,852,233 or $1.71 per share compared to $6,681,230 or $1.95 per share for the prior year comparative period. PTPPOI for the current six-month period is $7,455,493 compared to $7,660,660 for the prior year period. The $205,000 decrease is primarily due to a $611,000 increase in net interest income, offset by a $133,000 decrease in recurring noninterest income, and a $683,000 increase in noninterest expenses.

Paul E. Brummett, II CEO, commented, "I am pleased to report the quarterly earnings and continued momentum for the Company. We experienced growth in loans and deposits while our net interest margin continued to improve. Asset quality is very solid as past dues continued to decline for the current period. As we look forward, our strong capital, disciplined credit culture and outstanding team have the Company well positioned for the future."

Asset Quality

Loans past due 30 to 89 days are $1.4 million representing 0.18% of the total loan portfolio at June 30, 2025 compared to $3.1 million or 0.42% at December 31, 2024. Total nonperforming assets, including loans on non-accrual status, OREO and repossessed assets were flat at $7.6 million at both June 30, 2025 and December 31, 2024. Loans currently in non-accrual status increased slightly to $5.5 million from $5.4 million at year-end 2024 and OREO is currently $2.1 million compared to $2.2 million for the same period. Repossessed assets were $39,000 at June 30, 2025 with none reported at December 31, 2024. Management performs a quarterly evaluation of OREO properties and believes their adjusted carrying values are representative of their fair market values, although there is no assurance that the ultimate sales will be equal or greater than the carrying values.

Provision for credit losses is $310,000 for the current quarter compared to $35,000 for the linked quarter and $156,000 for the prior year quarter. The Allowance for Credit Losses (ACL) is $9.5 million at June 30, 2025 or 1.24% of total loans compared to $9.1 million at December 31, 2024 or 1.26% of total loans. The Bank recognized net recoveries in the current quarter of $31,000 compared to net charge-offs of $26,000 for the linked quarter and $2,000 for the prior year quarter. There are net recoveries of $4,000 for the six-month period ended June 30, 2025 and net charge-offs of $80,000 for the prior year six-month period. Management believes the current level of ACL is adequate; however, there is no assurance that regulators, increased risks in the loan portfolio or changes in economic conditions will not require future adjustments to the ACL.

Net Interest Income

For the quarter ended June 30, 2025, net interest income is $11.5 million, reflecting a $654,000 increase over the $10.8 million for the linked quarter and a $569,000 increase compared to the $10.9 million reported for the prior year quarter. When comparing the current quarter's net interest income to the linked quarter and the prior year quarter, the favorable impact on interest income was due to higher volume and higher yields on average earning assets which outpaced the increase in total interest-bearing liabilities.

Total interest income for the current quarter is $15.0 million compared to $14.3 million for the linked quarter and $14.2 million for the prior year quarter. Interest income on loans for the current quarter is $12.5 million, reflecting a $810,000 increase compared to the linked quarter and a $1.2 million increase over the prior year quarter. Average loans outstanding are $749.9 million, $725.4 million and $710.8 million for the current, linked, and prior year quarters, respectively. The average yield on the loan portfolio for the three comparative quarters is 6.71%, 6.56% and 6.40%, respectively. Interest income from other earning assets is $2.4 million for Q2 2025, reflecting decreases from the $2.6 million recorded in Q1 2025 and the $2.9 million in Q2 2024. The decline in interest income from other earning assets was due primarily to decreases in the volume of earning assets. The overall yield on earning assets is 5.31%, 5.13% and 5.07% for the three comparative quarters, respectively.

Total interest expense is $3.5 million for the current and linked quarters and $3.3 million in the prior year quarter. The $184,000 increase in interest expense between the current and prior year quarter is attributed to a $16.7 million increase in the average interest-bearing liabilities outstanding as well as a 6-basis point increase in the average cost of interest-bearing liabilities. The cost of interest-bearing liabilities is 1.63% for the current and linked quarters compared to 1.58% for the prior year quarter. When taking into account the effect of noninterest-bearing deposits, the cost of total funds is 1.28% for the current quarter, 1.29% for the linked quarter and 1.21% for the prior year quarter.

The net interest margin is 4.08% in the current quarter compared to 3.89% for the linked quarter and 3.90% for the prior year quarter. The increase in the yield on earning assets more than offset the increase in cost of funds between the first and second quarters of 2025 and between the current and prior year quarters.

Net interest income is $22.3 million for the six-month period ended June 30, 2025, compared to $21.7 million for the prior year period ended June 30, 2024. Net interest margin for the current six-month period is 3.99% compared to 3.90% for the comparative 2024 period. The total yield on earning assets increased to 5.22% from 5.03% due to increases in both yield and volume of loans outstanding. The cost of interest-bearing liabilities increased to 1.63% from 1.52% and the overall cost of funds increased to 1.29% from 1.17%.

Noninterest Income

Total noninterest income is $2.8 million for the current quarter, up $139,000 from $2.6 million for the linked quarter and flat compared to the $2.8 million for the prior year quarter. Service charges and fees associated with deposits accounted for the largest category of noninterest income and are $2.1 million in the current quarter, $2.0 million in the linked quarter and $2.2 million in the prior year quarter. Interchange revenue from debit card usage remains relatively stable at $1.2 million for the current and prior year quarter and $1.1 million for the linked quarter. NSF fees totaled $638,000 for the quarter ended June 30, 2025 compared to $661,000 for the linked quarter and $722,000 for the prior year quarter. Service charges on deposit accounts remain relatively constant at $190,000, $198,000 and $213,000 for the three comparative periods, respectively.

Revenue from the sale of mortgage loans is $88,000 for the current quarter compared to $86,000 for the linked quarter and $124,000 for the prior year quarter. Recent inflation data, while not yet indicating a rate cut, suggests the Federal Reserve may remain cautious about easing monetary policy, which could keep mortgage rates elevated.

Other noninterest income is $621,000 for the current quarter, $526,000 for the linked quarter and $534,000 for the prior year quarter. The largest components of other noninterest income are revenues from trust services and wealth management. The total of these two revenue streams is $365,000, $294,000 and $288,000 for the three periods, respectively.

Noninterest income for the six-month period ended June 30, 2025 is $5.4 million reflecting a slight decrease from the $5.5 million for the prior year six-month period. Comparedto the prior year, service charges and fees on deposit accounts are $4.1 million, reflecting a $233,000 decrease, gains on the sale of mortgage loans are $173,000, reflecting a $19,000 decrease and other non-interest income is $1.1 million, reflecting a $117,000 increase.

Noninterest Expense

Total noninterest expense is $10.6 million for the quarter ended June 30, 2025 compared to $9.9 million for the linked and prior year quarters. Salary and employee benefit expenses for the current quarter are $6.1 million and $5.5 million for the linked quarter and the prior year quarters. The $539,000 or 9.8% increase between the current and linked quarter is associated with annual merit increases which are effective April 1 of each year and with grant awards pursuant to our 2022 Omnibus Incentive Plan. The $566,000 or 10.3% increase between the current and prior year is attributed to annual merit increases, health insurance premium increases and increases associated with grant awards.

Occupancy expenses are $1.4 million for the current quarter, $1.5 million for the linked quarter, and $1.3 million for the prior year quarter. Advertising and public relations expenses are $375,000, $364,000 and $398,000 for the three comparative quarters, respectively. Data processing expenses are $1.1 million in the current and linked quarters, reflecting an increase of $105,000 compared to the prior year quarter.

Other noninterest expenses are $1.7 million for Q2 2025 and Q2 2024, and $1.5 million for Q1 2025. The largest components of noninterest expenses are comprised of professional fees, accruals for ad valorem taxes, fraud and other losses, FDIC insurance assessments and telecommunication expenses. The increase between the current and linked quarters is primarily due to an increase in expenses associated with professional fees of $169,000 and fraud and other losses of $82,000. Non-recurring expenses associated with OREO losses amounted to $52,000 in the current quarter, $97,000 in the linked quarter and $178,000 in the prior year quarter.

Total noninterest expenses for the six-month period ended June 30, 2025 are $20.3 million, up $637,000 or 3.2% from $19.7 million for the prior year period. Increases in salaries and employee benefits of $576,000, occupancy expenses of $179,000 and advertising and public relations expenses of $7,000 are partially offset by declines in data processing fees of $83,000 and other non-interest expenses of $43,000. Non-recurring expenses for the two six-month periods include losses on OREO of $150,000 and $196,000 for the current and prior year periods, respectively.

Income tax expense is $558,000 for the current quarter compared to $554,000 for the linked quarter and $589,000 for the June 2024 quarter. The effective tax rate remains relatively constant over the three comparative periods at 17.0% in the current quarter, 15.9% for the linked quarter and 16.3% in the prior year quarter. Year-to-date, income tax expense is $1.1 million with an effective tax rate of 16.0% compared to $1.3 million with an effective tax rate of 16.5% for the prior year six-month period.

Balance Sheet

Total assets at both June 30, 2025 and December 31, 2024 are $1.2 billion, showing a slight increase of $12.4 million or 1% over the current six-month period. Gross loans, net of unearned income, represent the largest asset category at $766.4 million which is an increase of $40.4 million or 5.6% from $726.0 million reported at the prior year-end. The six-month period increase in loans is comprised of $6.9 million in net growth from December 31, 2024 to March 31, 2025 and $33.5 million from March 31, 2025 to June 30, 2025. Total cash has declined by $28.0 million from $58.9 million at December 31, 2024 to $30.9 million at June 30, 2025. Cash is used to fund loans and growth in other asset categories, as well as to satisfy deposit fluctuations. Investment securities declined by $4.6 million to $342.3 million from $346.9 million and is the result of principal paydowns of $8.9 million and an increase in fair market value of the portfolio of$4.3 million.

Over the six months ended June 30, 2025, total deposits increased by $13.3 million or 1.3% and are $1.0 billion at both June 30, 2025 and December 31, 2024. Interest bearing demand deposits are down by $29.7 million. Offsetting this decline are increases of $9.4 million in non-interest-bearing deposits, $14.0 million in savings deposits, $1.1 million in money market account balances and $18.4 million in time deposits. The Company has deposit relationships with several municipalities and other public unit entities whose deposit balances tend to be very large at year-end and then run-off throughout the year. Deposit balances categorized as public unit deposits have decreased by $24.9 million over the current six-month period. The overall six month increase in deposits is comprised of a $37.5 million increase between December 31, 2024 and March 31, 2025 and a $24.2 million decrease between March 31, 2025 and June 30, 2025.

The total of all other liabilities decreased by $8.3 million to $79.0 million from $87.3 million at December 31, 2024. The decrease is attributable to a decrease in accrued liabilities and other borrowings, partially offset by an increase in FHLB advances.

Stockholders' equity increased $7.4 million to $89.9 million at June 30, 2025 from $82.5 million at December 31, 2024. The increase is attributed to $5.9 million in net income and a $3.4 million decrease in the accumulated other comprehensive loss (AOCL), partially offset by $2.0 million in dividends paid to shareholders. Total shares outstanding at June 30, 2025 are 3,433,113 compared to 3,421,113 at December 31, 2024. Tangible book value per share is currently $24.94 compared to $22.89 at December 31, 2024.

Key Performance Ratios

Return on average assets (ROA) under Generally Accepted Accounting Principles (GAAP) is 0.92% for the current quarter compared to 1.00% for the linked quarter and 1.03% for the prior year quarter. GAAP ROA for the six-month period ended June 30, 2025 is 0.99% compared to 1.15% for the prior year period. On a PTPPOI basis, ROA is 1.22%, 1.23% and 1.35% for the three comparative quarters respectively, and 1.26% and 1.31% for the comparative six-month periods. GAAP return on average equity (ROE) is 12.40% for the current three-month period, 14.17% for the linked period and 16.12% for the prior year period. ROE for the six-month period ended June 30, 2025 is 13.74% compared to 17.77% for the prior year period. On a PTPPOI basis, ROE is 16.57%, 17.49% and 21.02% for the three comparative quarters and 17.50% and 20.37% for the two comparative six-month periods.

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 21 full-service branch offices and two Loan Production/Deposit Production offices located along the I-10 and I-12 corridors from Lake Charles to Mandeville, Louisiana. Additional information is available 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 otcmarkets.com.

Forward-Looking Statements

Statements contained in this release, which are not historical facts, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors which include the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, the effects of competition, and including without limitation to other factors that could cause actual results to differ materially as discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

(OTCQX:JDVB)

For more information contact:

JD Bancshares, Inc.
Paul Brummett (CEO) (337-246-5395)
Jared Doucet (CFO) (337-246-5409)
Website: www.jdbank.com

JD BANCSHARES, INC. AND SUBSIDIARIES
JENNINGS, LOUISIANA

CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

		Actual Jun 2025				Actual Dec 2024				$ Variance				% Variance
Assets
Cash and due from banks			25,346,576				23,114,444				2,232,132				9.7
Interest bearing deposits with banks			5,523,288				35,765,026				(30,241,738	)			(84.6	)
Investment Securities - Taxable			220,886,559				223,870,862				(2,984,303	)			(1.3	)
Investment Securities - Tax-exempt			121,412,616				122,992,133				(1,579,517	)			(1.3	)
Mortgage loans held for sale			943,236				321,983				621,253				192.9
Loans, net of unearned income			766,412,457				726,030,139				40,382,318				5.6
Less: Allowance for credit losses			(9,475,330	)			(9,121,621	)			(353,709	)			3.9
Premises and equipment, net			24,018,597				21,017,630				3,000,967				14.3
Accrued interest receivable			5,000,962				4,983,070				17,892				0.4
Other real estate			2,116,718				2,204,968				(88,250	)			(4.0	)
Other assets			46,877,632				45,491,024				1,386,608				3.0
Total Assets			1,209,063,311				1,196,669,658				12,393,653				1.0
Liabilities
Non-Interest Bearing Deposits			233,486,043				224,044,996				9,441,047				4.2
Interest bearing demand deposits			282,134,538				311,787,150				(29,652,612	)			(9.5	)
Savings and Money Market Deposits			316,286,327				301,157,091				15,129,236				5.0
Time Deposits - Retail			208,304,688				189,885,577				18,419,111				9.7
Total Deposits			1,040,211,596				1,026,874,814				13,336,782				1.3
Accrued expenses and other liabilities			6,189,015				7,473,393				(1,284,378	)			(17.2	)
FHLB Advances			43,000,000				-				43,000,000				-
Other Borrowings			29,802,542				79,819,027				(50,016,485	)			(62.7	)
Total Liabilities			1,119,203,153				1,114,167,234				5,035,919				0.5
Equity
Common stock			21,456,956				21,381,956				75,000				0.4
Capital surplus			10,495,748				10,267,070				228,678				2.2
Retained earnings			92,044,754				88,214,577				3,830,177				4.3
Accumulated other comprehensive income (loss)			(33,406,483	)			(36,798,274	)			3,391,791				(9.2	)
Less: unearned stock awards			(730,817	)			(562,905	)			(167,912	)			29.8
Total Equity			89,860,158				82,502,424				7,357,734				8.9
Total Liabilities & Equity			1,209,063,311				1,196,669,658				12,393,653				1.0

JD BANCSHARES, INC. AND SUBSIDIARIES
JENNINGS, LOUISIANA

CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

		QTD Actual Jun 2025				QTD Actual Mar 2025				$ Variance				% Variance				QTD Actual Jun 2024				$ Variance				% Variance
Interest Income
Interest on Loans			12,549,314				11,739,793				809,521				6.9				11,305,380				1,243,934				11.0
Mortgage Loans Held For Sale			4,783				2,945				1,838				62.4				4,784				(1	)			(0.0	)
Interest on deposits with banks			102,679				287,448				(184,769	)			(64.3	)			355,310				(252,631	)			(71.1	)
Investment Securities - Taxable			1,556,410				1,521,139				35,271				2.3				1,773,973				(217,563	)			(12.3	)
Investment Securities - Tax-exempt			755,405				761,313				(5,908	)			(0.8	)			775,604				(20,199	)			(2.6	)
Total Interest Income			14,968,591				14,312,638				655,953				4.6				14,215,051				753,540				5.3
Interest Expense
Interest bearing demand deposits			361,809				353,708				8,101				2.3				331,079				30,730				9.3
Savings and Money Market Deposits			777,549				756,848				20,701				2.7				580,933				196,616				33.8
Time Deposits - Retail			1,900,547				1,847,462				53,085				2.9				1,496,576				403,971				27.0
Total Interest Expense on Deposits			3,039,905				2,958,018				81,887				2.8				2,408,588				631,317				26.2
FHLB Advances			142,091				225,558				(83,467	)			(37.0	)			-				142,091				-
Interest on other borrowings			327,175				323,928				3,247				1.0				916,318				(589,143	)			(64.3	)
Total Interest Expense			3,509,171				3,507,504				1,667				0.0				3,324,906				184,265				5.5
Net Interest Income			11,459,420				10,805,134				654,286				6.1				10,890,145				569,275				5.2
Provision for credit losses			309,953				35,177				274,776				781.1				156,281				153,672				98.3
Net In. Inc. After Prov. for Credit Losses			11,149,467				10,769,957				379,510				3.5				10,733,864				415,603				3.9
Non Interest Income
Service charges and fees			2,057,981				2,016,291				41,690				2.1				2,164,976				(106,995	)			(4.9	)
Mortgage loan and related fees			87,755				85,696				2,059				2.4				123,900				(36,145	)			(29.2	)
Other noninterest income			620,993				525,720				95,273				18.1				533,519				87,474				16.4
Total Non Interest Income			2,766,729				2,627,707				139,022				5.3				2,822,395				(55,666	)			(2.0	)
Non Interest Expense
Salaries and employee benefits			6,050,929				5,511,942				538,987				9.8				5,485,248				565,681				10.3
Occupancy			1,351,946				1,455,096				(103,150	)			(7.1	)			1,289,716				62,230				4.8
Advertising and public relations			374,763				364,185				10,578				2.9				398,434				(23,671	)			(5.9	)
Data Processing			1,139,931				1,121,743				18,188				1.6				1,035,135				104,796				10.1
Other noninterest expense			1,719,037				1,464,790				254,247				17.4				1,730,143				(11,106	)			(0.6	)
Total Non Interest Expense			10,636,606				9,917,756				718,850				7.2				9,938,676				697,930				7.0
Income Before Taxes			3,279,590				3,479,908				(200,318	)			(5.8	)			3,617,583				(337,993	)			(9.3	)
Income taxes			558,365				554,257				4,108				0.7				588,750				(30,385	)			(5.2	)
Net Income			2,721,225				2,925,651				(204,426	)			(7.0	)			3,028,833				(307,608	)			(10.2	)
Per common share data:
Earnings		$	0.79			$	0.85											$	0.88
Weighted average number of shares outstanding			3,432,629				3,422,507												3,427,853

JD BANCSHARES, INC. AND SUBSIDIARIES
JENNINGS, LOUISIANA

CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

		YTD Actual Jun 2025				YTD Actual Jun 2024				$ Variance				% Variance
Interest Income
Interest on Loans			24,289,107				22,173,183				2,115,924				9.5
Mortgage Loans Held For Sale			7,728				8,125				(397	)			(4.9	)
Interest on deposits with banks			390,127				757,335				(367,208	)			(48.5	)
Investment Securities - Taxable			3,077,550				3,552,984				(475,434	)			(13.4	)
Investment Securities - Tax-exempt			1,516,718				1,554,909				(38,191	)			(2.5	)
Total Interest Income			29,281,230				28,046,536				1,234,694				4.4
Interest Expense
Interest bearing demand deposits			715,518				658,979				56,539				8.6
Savings and Money Market Deposits			1,534,397				1,111,200				423,197				38.1
Time Deposits - Retail			3,748,009				2,792,892				955,117				34.2
Total Interest Expense on Deposits			5,997,924				4,563,071				1,434,853				31.4
FHLB Advances			367,650				-				367,650				-
Interest on other borrowings			651,102				1,829,937				(1,178,835	)			(64.4	)
Total Interest Expense			7,016,676				6,393,008				623,668				9.8
Net Interest Income			22,264,554				21,653,528				611,026				2.8
Provision for credit losses			345,130				(529,307	)			874,437				(165.2	)
Net In. Inc. After Prov. for Credit Losses			21,919,424				22,182,835				(263,411	)			(1.2	)
Non Interest Income
Service charges and fees			4,074,272				4,307,225				(232,953	)			(5.4	)
Mortgage loan and related fees			173,450				192,062				(18,612	)			(9.7	)
Other noninterest income			1,146,714				1,029,974				116,740				11.3
Total Non Interest Income			5,394,436				5,529,261				(134,825	)			(2.4	)
Non Interest Expense
Salaries and employee benefits			11,377,486				10,801,060				576,426				5.3
Occupancy			2,807,042				2,628,027				179,015				6.8
Advertising and public relations			738,948				731,937				7,011				1.0
Data Processing			2,261,675				2,344,494				(82,819	)			(3.5	)
Other noninterest expense			3,163,609				3,206,325				(42,716	)			(1.3	)
Total Non Interest Expense			20,348,760				19,711,843				636,917				3.2
Income Before Taxes			6,965,100				8,000,253				(1,035,153	)			(12.9	)
Income taxes			1,112,867				1,319,023				(206,156	)			(15.6	)
Net Income			5,852,233				6,681,230				(828,997	)			(12.4	)
Per common share data:
Earnings		$	1.71			$	1.95
Weighted average number of shares outstanding			3,427,596				3,427,853

JD BANCSHARES, INC. AND SUBSIDIARIES
Margin Analysis Compare

		Average Yield and Rate									Average Funds									Interest Income/Expense
		QTD Actual Jun 2025			QTD Actual Jun 2024			Change			QTD Actual Jun 2025			QTD Actual Jun 2024			Change			QTD Actual Jun 2025			QTD Actual Jun 2024			Change
Earning Assets
Loans			6.71			6.40			0.31			749,870,799			710,781,316			39,089,483			12,549,314			11,305,380			1,243,934
Loan fees			-			-			-			-			-			-			-			-			-
Loans with fees			6.71			6.40			0.31			749,870,799			710,781,316			39,089,483			12,549,314			11,305,380			1,243,934
Mortgage loans held for sale			6.41			7.31			(0.90	)		298,627			261,596			37,031			4,783			4,784			(1	)
Deposits with banks			4.59			5.65			(1.06	)		8,969,656			25,303,487			(16,333,831	)		102,679			355,310			(252,630	)
Investment securities - taxable			2.35			2.52			(0.17	)		265,039,655			281,837,041			(16,797,386	)		1,556,410			1,773,973			(217,563	)
Investment securities - tax-exempt			3.15			3.13			0.02			121,577,056			125,361,238			(3,784,181	)		755,405			775,604			(20,199	)
Total Earning Assets			5.31			5.07			0.24			1,145,755,793			1,143,544,678			2,211,115			14,968,592			14,215,050			753,541
Interest bearing liabilities
Interest bearing demand			0.50			0.45			0.05			293,168,951			294,373,716			(1,204,765	)		361,809			331,079			30,730
Savings and Money Market			0.98			0.76			0.22			317,144,579			308,635,228			8,509,351			777,549			580,933			196,616
Time deposits - Retail			3.69			3.74			(0.05	)		206,675,268			160,930,741			45,744,527			1,900,547			1,496,576			403,972
Total interest bearing deposits			1.49			1.27			0.22			816,988,798			763,939,685			53,049,113			3,039,906			2,408,588			631,318
Federal home Loan Bank advances			4.43			5.76			(1.33	)		12,681,319			11			12,681,308			142,091			-			142,091
Other borrowings			4.22			4.55			(0.33	)		30,713,413			79,730,356			(49,016,944	)		327,175			916,318			(589,144	)
Total borrowed funds			4.28			4.55			(0.27	)		43,394,731			79,730,367			(36,335,636	)		469,266			916,319			(447,053	)
Total interest-bearing liabilities			1.63			1.58			0.05			860,383,530			843,670,052			16,713,478			3,509,172			3,324,907			184,265
Net interest rate spread			3.67			3.49			0.18												11,459,420			10,890,144			569,276
Effect of non-interest bearing deposits			(0.35	)		(0.37	)		0.02			238,111,965			253,026,327			(14,914,361	)
Cost of funds			1.28			1.21			0.07
Net interest margin			4.08			3.90			0.18

JD BANCSHARES, INC. AND SUBSIDIARIES
Margin Analysis Compare

		Average Yield and Rate									Average Funds									Interest Income/Expense
		YTD Actual Jun 2025			YTD Actual Jun 2024			Change			YTD Actual Jun 2025			YTD Actual Jun 2024			Change			YTD Actual Jun 2025			YTD Actual Jun 2024			Change
Earning Assets
Loans			6.64			6.38			0.26			737,704,807			699,323,893			38,380,914			24,289,107			22,173,183			2,115,924
Loan fees			-			-			-			-			-			-			-			-			-
Loans with fees			6.64			6.38			0.26			737,704,807			699,323,893			38,380,914			24,289,107			22,173,183			2,115,924
Mortgage loans held for sale			6.61			7.27			(0.66	)		233,717			223,575			10,142			7,728			8,125			(397	)
Deposits with banks			4.38			5.49			(1.11	)		17,945,199			27,756,612			(9,811,413	)		390,127			757,335			(367,208	)
Investment securities - taxable			2.31			2.50			(0.19	)		266,890,224			283,762,005			(16,871,782	)		3,077,550			3,552,984			(475,434	)
Investment securities - tax-exempt			3.15			3.13			0.02			122,053,302			125,786,657			(3,733,354	)		1,516,718			1,554,909			(38,191	)
Total Earning Assets			5.22			5.03			0.19			1,144,827,248			1,136,852,742			7,974,506			29,281,230			28,046,535			1,234,695
Interest bearing liabilities
Interest bearing demand			0.48			0.45			0.03			302,270,116			295,320,013			6,950,104			715,518			658,979			56,539
Savings and Money Market			0.99			0.72			0.27			314,055,629			311,160,624			2,895,005			1,534,397			1,111,200			423,197
Time deposits - Retail			3.75			3.61			0.14			201,685,786			155,433,787			46,251,999			3,748,009			2,792,892			955,117
Total interest bearing deposits			1.48			1.20			0.28			818,011,531			761,914,423			56,097,108			5,997,924			4,563,071			1,434,853
Federal home Loan Bank advances			4.42			5.76			(1.34	)		16,541,436			5			16,541,431			367,650			-			367,650
Other borrowings			4.24			4.54			(0.30	)		30,579,576			79,813,050			(49,233,474	)		651,102			1,829,937			(1,178,834	)
Total borrowed funds			4.30			4.54			(0.24	)		47,121,013			79,813,056			(32,692,043	)		1,018,752			1,829,937			(811,185	)
Total interest-bearing liabilities			1.63			1.52			0.11			865,132,544			841,727,479			23,405,065			7,016,676			6,393,007			623,668
Net interest rate spread			3.59			3.51			0.08												22,264,555			21,653,528			611,027
Effect of non-interest bearing deposits			(0.34	)		(0.35	)		0.01			233,085,865			250,220,645			(17,134,780	)
Cost of funds			1.29			1.17			0.12
Net interest margin			3.99			3.90			0.09

JD BANCSHARES, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL INFORMATION

Financial Ratios
														For the Six				For the Six
		For the Qtr				For the Qtr				For the Qtr				Months				Months
		Ended				Ended				Ended				Ended				Ended
		June 30, 2025				March 31, 2025				June 30, 2024				June 30, 2025				June 30, 2024
Performance Ratios
Return on Average Assets (ROA)			0.92	%			1.00	%			1.03	%			0.99	%			1.15	%
ROA based on Pre-tax, pre-provision operating income			1.22	%			1.23	%			1.35	%			1.26	%			1.31	%
Return on Average Equity (ROE)			12.40	%			14.17	%			16.12	%			13.74	%			17.77	%
ROE based on Pre-tax, pre-provision operating income			16.57	%			17.49	%			21.02	%			17.50	%			20.37	%
Earnings per Share		$	0.79			$	0.85			$	0.88			$	1.71			$	1.95
Net Interest Margin			4.08	%			3.89	%			3.90	%			3.99	%			3.90	%
Efficiency Ratio **			73.40	%			72.02	%			70.13	%			72.00	%			70.74	%
Non-Interest Income as a % of Avg. Assets**			0.93	%			0.90	%			0.96	%			0.91	%			0.95	%
Non-Interest Expense as a % of Avg. Assets**			3.56	%			3.35	%			3.33	%			3.42	%			3.35	%
		As of				As of
		June 30, 2025				December 31, 2024
Bank Level Capital Ratios:
Tier 1 Leverage Ratio		11.63% (Est.)					11.34	%
Common Equity Tier 1 Ratio		16.66% (Est.)					16.25	%
Tier 1 Risk-Based Capital Ratio		16.66% (Est.)					16.25	%
Total Risk-Based Capital Ratio		17.81% (Est.)					17.35	%
Company:
Tangible Equity / Total Assets			7.09	%			6.55	%
Tangible Book Value per Share		$	24.96			$	22.89

Reconcilement of GAAP to Pre-tax, Pre-Provision Operating Income:
														For the Six				For the Six
		For the Qtr				For the Qtr				For the Qtr				Months				Months
		Ended				Ended				Ended				Ended				Ended
		June 30, 2025				March 31, 2025				June 30, 2024				June 30, 2025				June 30, 2024
Net Income (GAAP)		$	2,721,225			$	2,925,651			$	3,028,833			$	5,852,233			$	6,681,230
Provision for Loan Losses			309,953				35,177				156,281				345,130				(529,307	)
Net (Gain) Loss on OREO			47,907				97,356				177,550				145,263				189,714
Net (Gain) Loss on Securities			-				-				-				-				-
Non-recurring Expenses			-				-				-				-				-
Income Tax Expense			558,365				554,257				588,750				1,112,867				1,319,023
Pre-tax, Pre-Provision Operating Income		$	3,637,450			$	3,612,441			$	3,951,414			$	7,455,493			$	7,660,660
** Non-recurring items are eliminated for this ratio

SOURCE: JD Bancshares, Inc.

View the original press release on ACCESS Newswire

FAQ

What was JDVB's earnings per share for Q2 2025?

JD Bancshares reported earnings of $0.79 per share for Q2 2025, compared to $0.85 in Q1 2025 and $0.88 in Q2 2024.

How much did JD Bancshares' loan portfolio grow in the first half of 2025?

The company's gross loans increased by $40.4 million or 5.6% to $766.4 million from $726.0 million at year-end 2024.

What is JDVB's current net interest margin?

JD Bancshares reported a net interest margin of 4.08% in Q2 2025, up from 3.89% in Q1 2025 and 3.90% in Q2 2024.

How did JD Bancshares' asset quality perform in Q2 2025?

Asset quality improved with past due loans decreasing to 0.18% of the total portfolio from 0.42% at year-end 2024, while maintaining an Allowance for Credit Losses of 1.24% of total loans.

What is JDVB's current deposit position?

Total deposits were $1.0 billion as of June 30, 2025, representing a $13.3 million or 1.3% increase over the six-month period.