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JD Bancshares, Inc. reports recurring developments as the OTCQX-traded bank holding company for JD Bank, a Louisiana state-chartered bank serving south Louisiana. Company news centers on quarterly earnings, net interest income, non-interest income, loan and deposit trends, credit-related items, and service-charge, debit-card, trust, and brokerage revenue.
Updates also cover cash dividends on the company's common stock, board appointments and succession matters, and the bank's delivery of personal and commercial lending and deposit products through branch, production-office, and digital channels along the I-10 and I-12 corridors.
JD Bancshares, Inc. (OTCQX:JDVB) and JD Bank announced the resignation of Bruce W. Elder as President and CEO, effective September 30, 2024. Elder, who has led the company since November 19, 2019, is stepping down for personal family reasons. He will remain in his role through September to ensure a smooth transition and will also resign from his position as a director.
The company will follow its Board-approved succession plan to determine Elder's replacement. JD Bank, headquartered in Jennings, Louisiana, has been serving south Louisiana since 1947. It operates through 22 full-service branch offices and two loan and deposit production offices, offering personal and commercial banking services, as well as trust and investment services.
JD Bancshares, Inc. (OTCQX:JDVB) reported its Q2 2024 financial results. Net income for Q2 2024 was $3,028,833 or $0.88 per share, compared to $3,652,396 or $1.07 per share in Q1 2024 and $3,216,519 or $0.94 per share in Q2 2023. Pre-tax, pre-provision operating income (PTPPOI) for Q2 2024 was $3,951,414, up from $3,709,245 in Q1 2024 but down from $4,373,181 in Q2 2023. For the first half of 2024, net income was $6,681,230 or $1.95 per share, up from $5,301,748 or $1.55 per share in the same period of 2023. The company saw improvements in asset quality and a slight increase in deposits between March and June 2024, the first quarterly increase since Q2 2021. The net interest margin remained stable at 3.90% in both Q1 and Q2 2024.
JD Bancshares, Inc. (OTCQX:JDVB) has declared a cash dividend of $0.29 per share, payable on August 9, 2024, to shareholders of record on August 2, 2024. The decision was made during the Board of Directors' meeting on July 23, 2024. Future dividends will be determined quarterly based on earnings, financial condition, capital requirements, and other factors.
JD Bancshares is the holding company of JD Bank, a state-chartered bank headquartered in Jennings, Louisiana. The bank has been serving south Louisiana since 1947, offering personal and commercial banking products through physical and digital channels. JD Bank operates 22 full-service branches and two Loan Production/Deposit Production offices along the Interstate 10/12 corridor from Lake Charles to Mandeville, Louisiana.
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