JENNINGS, LA / ACCESS Newswire / October 22, 2026 / 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 nine-month periods ended September 30, 2026.
Net income is $3,673,220 or $1.07 per share for the three-month period ended September 30, 2026, compared to $3,329,725 or $0.97 per share for the linked quarter ended June 30, 2026, and $3,777,235 or $1.10 per share for the three-month period ended September 30, 2025. Pre-tax, pre-provision operating income (PTPPI) for the current quarter is $4,850,443, reflecting an increase of $802,820 compared to $4,047,623 for the linked quarter and an increase of $576,258 compared to $4,274,185 in the prior year quarter. 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 increase in PTPPI between the current, linked and prior year quarters is primarily due to higher levels of net interest income and non-interest income and is partially offset by higher non-interest expenses.
For the nine-month period ended September 30, 2026, net income is $9,969,883 or $2.91 per share compared to $9,629,468 or $2.81 per share for the prior year comparative period. PTPPI for the current nine-month period is $13,143,914, reflecting a 12.06% increase from $11,729,678 for the prior year period. The increase is attributable to a 7.70% increase in net interest income, an 8.10% increase in non-interest income and is partially offset by a 7.70% increase in non-interest expense.
CEO Paul Brummett, II commented, “Operating performance remained solid, with ROA of 1.16% and an eleven-basis-point NIM expansion to 4.25% for the quarter. While the interest rate view remains uncertain due to geopolitical pressure and uncertainty regarding inflation and higher costs for consumers, our balance sheet is positioned well for a ‘higher for longer’ interest rate environment. We continue to execute our organic expansion plans. In August 2026 we closed on the purchase of a location in Slidell that we expect to open in the fourth quarter of 2026. We have begun renovations to our Mandeville location which will open in the first or second quarter of 2027. We are in the final stages of planning for our third Lafayette location on Settlers Trace Blvd. which we expect to open in late 2027. As we enter the final quarter of 2026, we are excited with these expansion efforts that will allow us to provide banking services to our existing and prospective customers.”
Asset Quality
Loans past due 30 to 89 days as of September 30, 2026, total $1.2 million or 0.16% of total gross loans compared to $1.8 million or 0.23% at December 31, 2025. Total nonperforming assets, including loans on non-accrual status, OREO and repossessed assets declined to $5.1 million at September 30, 2026, from $6.8 million at December 31, 2025. Loans currently in non-accrual status declined to $2.8 million from $3.9 million at year-end 2025 and OREO is currently $2.2 million compared to $3.0 million at year end 2025. Repossessed assets at September 30, 2026 are $71,000 compared to $39,000 at the prior year end. 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 $118,000 for the current quarter compared to $17,000 in the linked quarter and a release of $339,000 for the prior year quarter. The Allowance for Credit Losses (ACL) is $8.9 million at both September 30, 2026 and December 31, 2025, or 1.15% of total loans for both periods. We recognized net charge-offs in the current quarter of $28,000 compared to net charge-offs of $276,000 for the linked quarter and net charge-offs of $40,000 for the prior year quarter. Net charge-offs for the comparative nine-month periods ended September 30, 2026, and 2025 are $309,000 and $36,000, respectively. While we believe the current level of our ACL is adequate, there is no assurance that regulators, increased risks in the loan portfolio, or changes in economic conditions will not require additional adjustments to the ACL.
Net Interest Income
Net interest income for the current quarter is $12.6 million, reflecting an increase of $476,000 compared to $12.1 million for the linked quarter ended June 30, 2026. The current quarter results reflect an increase of $884,000 over the $11.7 million reported for the prior year quarter ended September 30, 2025. Comparing net interest income for the September and June 2026 quarters, the increase is primarily due to higher yields on earning assets and partially offset by lower volume of earning assets and higher volume and rates on interest-bearing liabilities. The increase in net interest income between the current and prior year quarter is due to higher yield on earning assets and lower rates on interest bearing liabilities, partially offset by lower volume of earning assets.
Total interest income on all earning assets for the current quarter is $16.3 million compared to $15.8 million for the linked quarter and $15.6 million for the prior year quarter. Interest income on loans is $13.6 million in the current quarter and $13.1 million in the two comparative quarters. Average loans outstanding are $781.9 million for Q3 2026, $772.6 million for Q2 2026 and $767.2 million for Q3 2025. The yield on loans increased to 6.92% in the current quarter from 6.81% in linked quarter and 6.78% for the prior year quarter. Interest income from other earning assets have experienced increases from both a quarterly and year-over-year comparison.
Total interest expense is $3.8 million, $3.7 million and $3.8 million for the three comparative quarters, respectively. Interest expense on deposits is $3.4 million in both Q3 2026 and Q2 2026 and $3.2 million in Q3 2025. The cost of interest-bearing liabilities is 1.62% for the current and linked quarters, and 1.73% for the prior year quarter. The average volume of interest-bearing deposits is $882.0 million for the current quarter, reflecting an increase of $5.3 million from the linked quarter and an increase of $63.0 million from the prior year quarter. Interest expense on subordinated debt and other borrowings is $317,000 in the current, linked, and prior year quarters. The cost of funds, which includes the impact of noninterest-bearing deposits, is 1.29% for the current and linked periods compared to 1.36% for Q3 2025.
Net interest income for the current nine-month period is $36.6 million compared to $34.0 million for the prior year period. Total interest income from earning assets is $47.5 million producing a yield of 5.40% compared to $44.8 million and a yield of 5.27% a year ago. The increase in the volume of average earning assets outstanding of $39.8 million and the 13-basis point increase in yields on those assets resulted in a $2.7 million increase in interest income from earning assets. Total interest expense is $10.9 million for both the current and prior year periods, while the cost of interest-bearing liabilities decreased from 1.66% for the prior year period to 1.61% for the current nine-month period. The cost of total funds is currently 1.28% compared to 1.31% a year ago.
The net interest margin is 4.25% for the current quarter compared to 4.14% in the linked quarter and 4.07% for the prior year quarter. For the nine-month periods ended September 30, 2026, and 2025, net interest margin increased by 17 basis points to 4.18% from 4.01%.
We continue to re-mix our balance sheet and make progress improving our loan to deposit ratio, transitioning lower earning assets into higher earning asset categories. Our loan to deposit ratio has grown from 69.1% at December 31, 2025, to 70.6% at September 30, 2026.
Non-Interest Income
Total non-interest income is $3.2 million for the current quarter and $2.9 million for the linked and prior year quarters. Service charges and fees associated with deposit accounts are $2.3 million for the current quarter, $2.2 million for the linked quarter and $2.1 million for the prior year quarter. The largest component of service charges and fees is interchange revenue on debit card transactions. Interchange revenue is $1.3 million for the current and linked quarters and $1.2 million for the prior year quarter. Revenue from non-sufficient funds (NSF) is $791,000 in the current quarter compared to $688,000 in the linked quarter and $752,000 in the prior year quarter.
Higher mortgage rates continue to hinder the gains on the sale of originated mortgage loans. Gains on the sale of originated mortgages is $115,000 for the current quarter compared to $128,000 for Q2 2026 and $115,000 for Q3 2025.
Other non-interest income is $822,000 for the current quarter compared to $592,000 for the linked quarter and $625,000 for the prior year quarter. Revenues from trust and brokerage activities comprise the largest components of other non-interest income. The sum of these two revenue streams is $443,000, $312,000 and $332,000 for the three comparative quarters, respectively. There is $28,000 of non-recurring, non-operating revenue in the current quarter with none in the linked or prior year quarter.
Non-interest income for the nine-month period ended September 30, 2026, is $8.9 million, compared to $8.3 million for the prior year period. Service charges and fees increased by $283,000 to $6.5 million from $6.2 million and were positively impacted by a $183,000 increase in interchange revenue. Gains on sale of originated mortgage loans is $381,000 compared to $288,000 in the prior year and other non-interest income is $2.1 million compared to $1.8 million in the prior year. Other non-interest income for the current nine-month period is positively impacted by a $186,000 increase in trust and brokerage revenue, and an increase in Small Business Investment Company (SBIC) income.
Non-Interest Expense
Total non-interest expense is $11.3 million for the current quarter, $11.0 million for the linked quarter, and $10.4 million for the prior year quarter. Salary and benefits expense is the largest component of non-interest expense and is $6.1 million for the current and linked quarters, and $5.9 million for the prior year quarter.
Occupancy expense is $1.6 million for both the current and linked quarters and $1.4 million for the prior year quarter.
Data processing expense is $1.2 million for the current quarter, $1.3 million for the linked quarter and $1.2 million for the prior year quarter. Advertising and public relations expense totals $347,000 for the current quarter, $414,000 for the linked quarter, and $374,000 for the September 2025 quarter. Other non-interest expense is $2.0 million for Q3 2026 and $1.6 million for Q2 2026 and Q3 2025. The largest components of other non-interest expenses are professional fees, ad valorem taxes, FDIC insurance assessments and other losses. Included in other non-interest expense are net losses on the sale of OREO of $296,000, $41,000 and $50,000 for each of the comparative quarters.
Non-interest expense for the nine-month period ended September 30, 2026, is $33.1 million compared to $30.7 million for the prior year. Increases in all categories contributed to the 7.70% overall increase. Net losses on the sale of OREO for the current and prior nine-month periods are $445,000 and $195,000, respectively.
Income tax expense is $763,000 for the current quarter compared to $660,000 for the linked quarter and $785,000 for the September 30, 2025 quarter. The effective tax rate is 17.19%, 16.55% and 17.21% for the three comparative quarters, respectively. Current year-to-date income tax expense is $2.0 million with an effective rate of 16.82% compared to $1.9 million and 16.47% for the prior year nine-month period.
Balance Sheet
Total assets at September 30, 2026 are down slightly at $1.2 billion compared to $1.3 billion at December 31, 2025. In the nine months since December 31, 2025, the Company has experienced new net loan growth of $7.2 million.
Total deposits decreased by $15.5 million through September 30, 2026. The largest decrease occurred in interest bearing demand deposits, which decreased by $44.2 million. Non-interest bearing demand deposits also declined, showing a year-to-date decrease of $2.8 million. Savings and money market accounts and time deposits experienced year-to-date increases of $14.9 million and $16.6 million, respectively.
Stockholders’ equity decreased by $5.7 million to $97.4 million at September 30, 2026, from $103.1 million at December 31, 2025. The decrease is primarily comprised of an increase in the accumulated other comprehensive loss of $12.6 million, dividends paid to common shareholders of $3.2 million, partially offset by year-to-date earnings of $10.0 million.
Tangible book value per common share is $27.20 at September 30, 2026 compared to $28.86 at December 31, 2025.
Key Performance Ratios
Return on average assets (ROA) increased to 1.16% for the current quarter compared to 1.06% for the linked quarter and 1.23% for the prior year quarter. Return on average equity (ROE) is 13.67%, 12.70% and 16.36% for the three comparative quarters ended September 2026, June 2026 and September 2025, respectively. ROA and ROE for the nine-month periods ended September 30, 2026, and 2025 are 1.06% and 1.07%, and 12.65% and 14.66%, respectively.
About JD Bancshares, Inc.
JD Bancshares, Inc. is the bank holding company of JD Bank, a Louisiana 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 one loan and deposit production office 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 on the OTCQX Best Market 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.
For more information contact:
Paul Brummett, II (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 Sep 2026 |
Actual Dec 2025 |
$ Variance | % Variance | |||||||||||||
|
Assets
|
||||||||||||||||
|
Cash and due from banks
|
23,143,649 | 24,531,382 | (1,387,733 | ) | (5.7 | ) | ||||||||||
|
Interest bearing deposits with banks
|
34,813,367 | 47,810,267 | (12,996,900 | ) | (27.2 | ) | ||||||||||
|
Investment Securities – Taxable
|
206,710,840 | 220,454,338 | (13,743,498 | ) | (6.2 | ) | ||||||||||
|
Investment Securities – Tax-exempt
|
117,724,484 | 122,277,394 | (4,552,910 | ) | (3.7 | ) | ||||||||||
|
Mortgage loans held for sale
|
222,767 | 633,782 | (411,015 | ) | (64.9 | ) | ||||||||||
|
Loans, net of unearned income
|
778,341,911 | 771,115,361 | 7,226,550 | 0.9 | ||||||||||||
|
Less: Allowance for credit losses
|
(8,912,626 | ) | (8,893,255 | ) | (19,371 | ) | 0.2 | |||||||||
|
Premises and equipment, net
|
31,184,169 | 29,150,334 | 2,033,835 | 7.0 | ||||||||||||
|
Accrued interest receivable
|
4,866,751 | 5,123,565 | (256,814 | ) | (5.0 | ) | ||||||||||
|
Other real estate
|
2,215,094 | 2,950,546 | (735,452 | ) | (24.9 | ) | ||||||||||
|
Other assets
|
47,110,738 | 42,989,593 | 4,121,145 | 9.6 | ||||||||||||
|
Total Assets
|
1,237,421,144 | 1,258,143,307 | (20,722,163 | ) | (1.6 | ) | ||||||||||
|
Liabilities
|
||||||||||||||||
|
Non-Interest Bearing Deposits
|
231,926,846 | 234,684,101 | (2,757,255 | ) | (1.2 | ) | ||||||||||
|
Interest bearing demand deposits
|
295,034,966 | 339,233,118 | (44,198,152 | ) | (13.0 | ) | ||||||||||
|
Savings and Money Market Deposits
|
339,047,978 | 324,205,335 | 14,842,643 | 4.6 | ||||||||||||
|
Time Deposits – Retail
|
237,031,472 | 220,393,058 | 16,638,414 | 7.5 | ||||||||||||
|
Total Deposits
|
1,103,041,262 | 1,118,515,612 | (15,474,350 | ) | (1.4 | ) | ||||||||||
|
Accrued expenses and other liabilities
|
6,978,026 | 6,634,247 | 343,779 | 5.2 | ||||||||||||
|
Other Borrowings
|
29,979,762 | 29,873,430 | 106,332 | 0.4 | ||||||||||||
|
Total Liabilities
|
1,139,999,050 | 1,155,023,289 | (15,024,239 | ) | (1.3 | ) | ||||||||||
|
Equity
|
||||||||||||||||
|
Common stock
|
21,424,512 | 21,412,156 | 12,356 | 0.1 | ||||||||||||
|
Capital surplus
|
10,411,114 | 10,320,490 | 90,624 | 0.9 | ||||||||||||
|
Retained earnings
|
103,933,305 | 97,093,150 | 6,840,155 | 7.0 | ||||||||||||
|
Accumulated other comprehensive income (loss)
|
(37,672,510 | ) | (25,121,300 | ) | (12,551,210 | ) | 50.0 | |||||||||
|
Less: unearned stock awards
|
(674,327 | ) | (584,478 | ) | (89,849 | ) | 15.4 | |||||||||
|
Total Equity
|
97,422,094 | 103,120,018 | (5,697,924 | ) | (5.5 | ) | ||||||||||
|
Total Liabilities & Equity
|
1,237,421,144 | 1,258,143,307 | (20,722,163 | ) | (1.6 | ) | ||||||||||
JD BANCSHARES, INC. AND SUBSIDIARIES
JENNINGS, LOUISIANA
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
| QTD Actual Sep 2026 |
QTD Actual Jun 2026 |
$ Variance | % Variance | QTD Actual Sep 2025 |
$ Variance | % Variance | ||||||||||||||||||||||
|
Interest Income
|
||||||||||||||||||||||||||||
|
Interest on Loans
|
13,631,187 | 13,127,292 | 503,895 | 3.8 | 13,117,997 | 513,190 | 3.9 | |||||||||||||||||||||
|
Mortgage Loans Held For Sale
|
4,026 | 6,510 | (2,484 | ) | (38.2 | ) | 7,084 | (3,058 | ) | (43.2 | ) | |||||||||||||||||
|
Interest on deposits with banks
|
443,514 | 474,256 | (30,742 | ) | (6.5 | ) | 181,534 | 261,980 | 144.3 | |||||||||||||||||||
|
Investment Securities – Taxable
|
1,489,593 | 1,403,346 | 86,247 | 6.1 | 1,493,302 | (3,709 | ) | (0.2 | ) | |||||||||||||||||||
|
Investment Securities – Tax-exempt
|
768,983 | 784,254 | (15,271 | ) | (1.9 | ) | 750,573 | 18,410 | 2.5 | |||||||||||||||||||
|
Total Interest Income
|
16,337,303 | 15,795,658 | 541,645 | 3.4 | 15,550,490 | 786,813 | 5.1 | |||||||||||||||||||||
|
Interest Expense
|
||||||||||||||||||||||||||||
|
Interest bearing demand deposits
|
380,777 | 383,494 | (2,717 | ) | (0.7 | ) | 364,748 | 16,029 | 4.4 | |||||||||||||||||||
|
Savings and Money Market Deposits
|
997,638 | 940,075 | 57,563 | 6.1 | 840,013 | 157,625 | 18.8 | |||||||||||||||||||||
|
Time Deposits – Retail
|
2,042,756 | 2,031,890 | 10,866 | 0.5 | 1,977,244 | 65,512 | 3.3 | |||||||||||||||||||||
|
Total Interest Expense on Deposits
|
3,421,171 | 3,355,459 | 65,712 | 2.0 | 3,182,005 | 239,166 | 7.5 | |||||||||||||||||||||
|
FHLB Advances
|
– | – | – | – | 334,286 | (334,286 | ) | (100.0 | ) | |||||||||||||||||||
|
Interest on other borrowings
|
316,694 | 316,694 | – | – | 318,507 | (1,813 | ) | (0.6 | ) | |||||||||||||||||||
|
Total Interest Expense
|
3,737,865 | 3,672,153 | 65,712 | 1.8 | 3,834,798 | (96,933 | ) | (2.5 | ) | |||||||||||||||||||
|
Net Interest Income
|
12,599,438 | 12,123,505 | 475,933 | 3.9 | 11,715,692 | 883,746 | 7.5 | |||||||||||||||||||||
|
Provision for credit losses
|
118,171 | 16,947 | 101,224 | 597.3 | (338,538 | ) | 456,709 | (134.9 | ) | |||||||||||||||||||
|
Net In. Inc. After Prov. for Credit Losses
|
12,481,267 | 12,106,558 | 374,709 | 3.1 | 12,054,230 | 427,037 | 3.5 | |||||||||||||||||||||
|
Non Interest Income
|
||||||||||||||||||||||||||||
|
Service charges and fees
|
2,272,962 | 2,153,434 | 119,528 | 5.6 | 2,142,126 | 130,836 | 6.1 | |||||||||||||||||||||
|
Mortgage loan and related fees
|
114,676 | 127,622 | (12,946 | ) | (10.1 | ) | 114,608 | 68 | 0.1 | |||||||||||||||||||
|
Other noninterest income
|
822,020 | 592,499 | 229,521 | 38.7 | 625,020 | 197,000 | 31.5 | |||||||||||||||||||||
|
Total Non Interest Income
|
3,209,658 | 2,873,555 | 336,103 | 11.7 | 2,881,754 | 327,904 | 11.4 | |||||||||||||||||||||
|
Non Interest Expense
|
||||||||||||||||||||||||||||
|
Salaries and employee benefits
|
6,106,805 | 6,105,775 | 1,030 | 0.0 | 5,861,841 | 244,964 | 4.2 | |||||||||||||||||||||
|
Occupancy
|
1,592,473 | 1,566,464 | 26,009 | 1.7 | 1,350,181 | 242,292 | 17.9 | |||||||||||||||||||||
|
Advertising and public relations
|
346,879 | 413,742 | (66,863 | ) | (16.2 | ) | 374,451 | (27,572 | ) | (7.4 | ) | |||||||||||||||||
|
Data Processing
|
1,225,100 | 1,266,718 | (41,618 | ) | (3.3 | ) | 1,218,953 | 6,147 | 0.5 | |||||||||||||||||||
|
Other noninterest expense
|
1,983,760 | 1,637,269 | 346,491 | 21.2 | 1,568,015 | 415,745 | 26.5 | |||||||||||||||||||||
|
Total Non Interest Expense
|
11,255,017 | 10,989,968 | 265,049 | 2.4 | 10,373,441 | 881,576 | 8.5 | |||||||||||||||||||||
|
Income Before Taxes
|
4,435,908 | 3,990,145 | 445,763 | 11.2 | 4,562,543 | (126,635 | ) | (2.8 | ) | |||||||||||||||||||
|
Income taxes
|
762,688 | 660,420 | 102,268 | 15.5 | 785,308 | (22,620 | ) | (2.9 | ) | |||||||||||||||||||
|
Net Income
|
3,673,220 | 3,329,725 | 343,495 | 10.3 | 3,777,235 | (104,015 | ) | (2.8 | ) | |||||||||||||||||||
|
Per common share data:
|
||||||||||||||||||||||||||||
|
Earnings
|
$ | 1.07 | $ | 0.97 | $ | 1.10 | ||||||||||||||||||||||
|
Weighted average number of shares outstanding
|
3,427,922 | 3,433,831 | 3,433,113 | |||||||||||||||||||||||||
JD BANCSHARES, INC. AND SUBSIDIARIES
JENNINGS, LOUISIANA
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
|
|
YTD Actual Sep 2026 |
YTD Actual Sep 2025 |
$ Variance | % Variance | ||||||||||||
|
Interest Income
|
||||||||||||||||
|
Interest on Loans
|
39,635,469 | 37,407,104 | 2,228,365 | 6.0 | ||||||||||||
|
Mortgage Loans Held For Sale
|
17,137 | 14,812 | 2,325 | 15.7 | ||||||||||||
|
Interest on deposits with banks
|
1,230,202 | 571,662 | 658,540 | 115.2 | ||||||||||||
|
Investment Securities – Taxable
|
4,300,249 | 4,570,851 | (270,602 | ) | (5.9 | ) | ||||||||||
|
Investment Securities – Tax-exempt
|
2,334,068 | 2,267,291 | 66,777 | 2.9 | ||||||||||||
|
Total Interest Income
|
47,517,125 | 44,831,720 | 2,685,405 | 6.0 | ||||||||||||
|
Interest Expense
|
||||||||||||||||
|
Interest bearing demand deposits
|
1,137,348 | 1,080,266 | 57,082 | 5.3 | ||||||||||||
|
Savings and Money Market Deposits
|
2,817,938 | 2,374,410 | 443,528 | 18.7 | ||||||||||||
|
Time Deposits – Retail
|
6,006,794 | 5,725,254 | 281,540 | 4.9 | ||||||||||||
|
Total Interest Expense on Deposits
|
9,962,080 | 9,179,930 | 782,150 | 8.5 | ||||||||||||
|
FHLB Advances
|
– | 701,935 | (701,935 | ) | (100.0 | ) | ||||||||||
|
Interest on other borrowings
|
950,504 | 969,610 | (19,106 | ) | (2.0 | ) | ||||||||||
|
Total Interest Expense
|
10,912,584 | 10,851,475 | 61,109 | 0.6 | ||||||||||||
|
Net Interest Income
|
36,604,541 | 33,980,245 | 2,624,296 | 7.7 | ||||||||||||
|
Provision for credit losses
|
461,245 | 6,592 | 454,653 | 6,897.0 | ||||||||||||
|
Net In. Inc. After Prov. for Credit Losses
|
36,143,296 | 33,973,653 | 2,169,643 | 6.4 | ||||||||||||
|
Non Interest Income
|
||||||||||||||||
|
Service charges and fees
|
6,499,881 | 6,216,398 | 283,483 | 4.6 | ||||||||||||
|
Mortgage loan and related fees
|
380,878 | 288,058 | 92,820 | 32.2 | ||||||||||||
|
Other noninterest income
|
2,062,812 | 1,771,734 | 291,078 | 16.4 | ||||||||||||
|
Total Non Interest Income
|
8,943,571 | 8,276,190 | 667,381 | 8.1 | ||||||||||||
|
Non Interest Expense
|
||||||||||||||||
|
Salaries and employee benefits
|
18,165,134 | 17,239,328 | 925,806 | 5.4 | ||||||||||||
|
Occupancy
|
4,625,338 | 4,157,223 | 468,115 | 11.3 | ||||||||||||
|
Advertising and public relations
|
1,156,648 | 1,113,399 | 43,249 | 3.9 | ||||||||||||
|
Data Processing
|
3,843,445 | 3,480,627 | 362,818 | 10.4 | ||||||||||||
|
Other noninterest expense
|
5,309,871 | 4,731,623 | 578,248 | 12.2 | ||||||||||||
|
Total Non Interest Expense
|
33,100,436 | 30,722,200 | 2,378,236 | 7.7 | ||||||||||||
|
Income Before Taxes
|
11,986,431 | 11,527,643 | 458,788 | 4.0 | ||||||||||||
|
Income taxes
|
2,016,548 | 1,898,175 | 118,373 | 6.2 | ||||||||||||
|
Net Income
|
9,969,883 | 9,629,468 | 340,415 | 3.5 | ||||||||||||
|
|
||||||||||||||||
|
Per common share data:
|
||||||||||||||||
|
Earnings
|
$ | 2.91 | $ | 2.81 | ||||||||||||
|
Weighted average number of shares outstanding
|
3,429,456 | 3,429,443 | ||||||||||||||
JD BANCSHARES, INC. AND SUBSIDIARIES
Margin Analysis Compare
| Average Yield and Rate | Average Funds | Interest Income/Expense | ||||||||||||||||||||||||||
| QTD Actual Sep 2026 |
QTD Actual Sep 2025 |
Change | QTD Actual Sep 2026 |
QTD Actual Sep 2025 |
Change | QTD Actual Sep 2026 |
QTD Actual Sep 2025 |
Change | ||||||||||||||||||||
|
Earning Assets
|
||||||||||||||||||||||||||||
|
Loans
|
6.92 | 6.78 | 0.14 | 781,867,700 | 767,229,639 | 14,638,061 | 13,631,187 | 13,117,997 | 513,190 | |||||||||||||||||||
|
Loan fees
|
– | – | – | – | – | – | – | – | – | |||||||||||||||||||
|
Loans with fees
|
6.92 | 6.78 | 0.14 | 781,867,700 | 767,229,639 | 14,638,061 | 13,631,187 | 13,117,997 | 513,190 | |||||||||||||||||||
|
Mortgage loans held for sale
|
6.62 | 7.25 | (0.63 | ) | 243,441 | 391,121 | (147,680 | ) | 4,026 | 7,084 | (3,058 | ) | ||||||||||||||||
|
Deposits with banks
|
3.65 | 4.35 | (0.70 | ) | 48,184,015 | 16,564,658 | 31,619,357 | 443,514 | 181,534 | 261,980 | ||||||||||||||||||
|
Investment securities – taxable
|
2.39 | 2.29 | 0.10 | 249,701,967 | 260,703,266 | (11,001,299 | ) | 1,489,593 | 1,493,302 | (3,709 | ) | |||||||||||||||||
|
Investment securities – tax-exempt
|
3.27 | 3.15 | 0.12 | 118,907,809 | 120,507,418 | (1,599,609 | ) | 768,983 | 750,573 | 18,410 | ||||||||||||||||||
|
Total Earning Assets
|
5.48 | 5.37 | 0.11 | 1,198,904,931 | 1,165,396,101 | 33,508,830 | 16,337,304 | 15,550,491 | 786,813 | |||||||||||||||||||
|
Interest bearing liabilities
|
– | – | – | |||||||||||||||||||||||||
|
Interest bearing demand
|
0.50 | 0.51 | (0.01 | ) | 304,518,729 | 284,872,293 | 19,646,436 | 380,777 | 364,748 | 16,029 | ||||||||||||||||||
|
Savings and Money Market
|
1.17 | 1.04 | 0.13 | 338,046,332 | 319,911,224 | 18,135,108 | 997,638 | 840,013 | 157,625 | |||||||||||||||||||
|
Time deposits – Retail
|
3.38 | 3.66 | (0.28 | ) | 239,466,759 | 214,234,198 | 25,232,561 | 2,042,756 | 1,977,244 | 65,512 | ||||||||||||||||||
|
Total interest bearing deposits
|
1.54 | 1.54 | – | 882,031,820 | 819,017,714 | 63,014,106 | 3,421,171 | 3,182,005 | 239,166 | |||||||||||||||||||
|
Federal home Loan Bank advances
|
– | 4.35 | (4.35 | ) | – | 30,054,348 | (30,054,348 | ) | – | 334,286 | (334,286 | ) | ||||||||||||||||
|
Other borrowings
|
4.14 | 4.16 | (0.02 | ) | 29,956,389 | 29,967,961 | (11,572 | ) | 316,694 | 318,507 | (1,813 | ) | ||||||||||||||||
|
Total borrowed funds
|
4.14 | 4.26 | (0.12 | ) | 29,956,389 | 60,022,309 | (30,065,920 | ) | 316,694 | 336,100 | (19,406 | ) | ||||||||||||||||
|
Total interest-bearing liabilities
|
1.62 | 1.73 | (0.11 | ) | 911,988,210 | 879,040,023 | 32,948,187 | 3,737,865 | 3,834,798 | (96,933 | ) | |||||||||||||||||
|
Net interest rate spread
|
3.86 | 3.64 | 0.22 | – | 12,599,439 | 11,715,692 | 883,747 | |||||||||||||||||||||
|
Effect of non-interest bearing deposits
|
(0.33 | ) | (0.37 | ) | 0.04 | 234,741,066 | 237,190,455 | (2,449,389 | ) | |||||||||||||||||||
|
Cost of funds
|
1.29 | 1.36 | (0.07 | ) | ||||||||||||||||||||||||
|
Net interest margin
|
4.25 | 4.07 | 0.18 | |||||||||||||||||||||||||
JD BANCSHARES, INC. AND SUBSIDIARIES
Margin Analysis Compare
| Average Yield and Rate | Average Funds | Interest Income/Expense | ||||||||||||||||||||||||||
| YTD Actual Sep 2026 |
YTD Actual Sep 2025 |
Change | YTD Actual Sep 2026 |
YTD Actual Sep 2025 |
Change | YTD Actual Sep 2026 |
YTD Actual Sep 2025 |
Change | ||||||||||||||||||||
|
Earning Assets
|
||||||||||||||||||||||||||||
|
Loans
|
6.83 | 6.69 | 0.14 | 775,623,745 | 747,654,567 | 27,969,178 | 39,635,469 | 37,407,104 | 2,228,365 | |||||||||||||||||||
|
Loan fees
|
– | – | – | – | – | – | – | – | – | |||||||||||||||||||
|
Loans with fees
|
6.83 | 6.69 | 0.14 | 775,623,745 | 747,654,567 | 27,969,178 | 39,635,469 | 37,407,104 | 2,228,365 | |||||||||||||||||||
|
Mortgage loans held for sale
|
6.26 | 6.89 | (0.63 | ) | 364,866 | 286,761 | 78,105 | 17,137 | 14,812 | 2,325 | ||||||||||||||||||
|
Deposits with banks
|
3.65 | 4.37 | (0.72 | ) | 45,061,369 | 17,479,962 | 27,581,407 | 1,230,202 | 571,662 | 658,540 | ||||||||||||||||||
|
Investment securities – taxable
|
2.30 | 2.30 | – | 249,543,630 | 264,805,242 | (15,261,612 | ) | 4,300,249 | 4,570,851 | (270,602 | ) | |||||||||||||||||
|
Investment securities – tax-exempt
|
3.26 | 3.15 | 0.11 | 120,921,483 | 121,532,345 | (610,862 | ) | 2,334,068 | 2,267,291 | 66,777 | ||||||||||||||||||
|
Total Earning Assets
|
5.40 | 5.27 | 0.13 | 1,191,515,093 | 1,151,758,876 | 39,756,217 | 47,517,125 | 44,831,721 | 2,685,404 | |||||||||||||||||||
|
Interest bearing liabilities
|
– | |||||||||||||||||||||||||||
|
Interest bearing demand
|
0.50 | 0.49 | 0.01 | 306,094,371 | 296,407,113 | 9,687,258 | 1,137,348 | 1,080,266 | 57,082 | |||||||||||||||||||
|
Savings and Money Market
|
1.13 | 1.00 | 0.13 | 332,726,817 | 316,028,943 | 16,697,874 | 2,817,938 | 2,374,410 | 443,528 | |||||||||||||||||||
|
Time deposits – Retail
|
3.42 | 3.72 | (0.30 | ) | 235,014,446 | 205,914,555 | 29,099,891 | 6,006,794 | 5,725,254 | 281,540 | ||||||||||||||||||
|
Total interest bearing deposits
|
1.52 | 1.50 | 0.02 | 873,835,634 | 818,350,611 | 55,485,023 | 9,962,080 | 9,179,929 | 782,151 | |||||||||||||||||||
|
Federal home Loan Bank advances
|
– | 4.39 | (4.39 | ) | – | 21,095,238 | (21,095,238 | ) | – | 701,935 | (701,935 | ) | ||||||||||||||||
|
Other borrowings
|
4.19 | 4.21 | (0.02 | ) | 29,935,034 | 30,373,464 | (438,430 | ) | 950,504 | 969,610 | (19,106 | ) | ||||||||||||||||
|
Total borrowed funds
|
4.19 | 4.28 | (0.09 | ) | 29,935,034 | 51,468,702 | (21,533,668 | ) | 950,504 | 1,671,545 | (721,041 | ) | ||||||||||||||||
|
Total interest-bearing liabilities
|
1.61 | 1.66 | (0.05 | ) | 903,770,669 | 869,819,313 | 33,951,356 | 10,912,584 | 10,851,474 | 61,110 | ||||||||||||||||||
|
Net interest rate spread
|
3.79 | 3.61 | 0.18 | 36,604,541 | 33,980,247 | 2,624,294 | ||||||||||||||||||||||
|
Effect of non-interest bearing deposits
|
(0.33 | ) | (0.35 | ) | 0.02 | 238,105,768 | 234,489,955 | 3,615,813 | ||||||||||||||||||||
|
Cost of funds
|
1.28 | 1.31 | (0.03 | ) | ||||||||||||||||||||||||
|
Net interest margin
|
4.18 | 4.01 | 0.17 | |||||||||||||||||||||||||
JD BANCSHARES, INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION
|
Financial Ratios
|
||||||||||||||||||||
| For the Nine | For the Nine | |||||||||||||||||||
| For the Qtr | For the Qtr | For the Qtr | Months | Months | ||||||||||||||||
| Ended | Ended | Ended | Ended | Ended | ||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||
|
Performance Ratios
|
||||||||||||||||||||
|
Return on Average Assets (ROA)
|
1.16 | % | 1.06 | % | 1.23 | % | 1.06 | % | 1.07 | % | ||||||||||
|
ROA based on Pre-tax, pre-provision operating income
|
1.53 | % | 1.29 | % | 1.40 | % | 1.40 | % | 1.31 | % | ||||||||||
|
Return on Average Equity (ROE)
|
13.67 | % | 12.70 | % | 16.36 | % | 12.65 | % | 14.66 | % | ||||||||||
|
ROE based on Pre-tax, pre-provision operating income
|
18.05 | % | 15.43 | % | 18.51 | % | 16.67 | % | 17.86 | % | ||||||||||
|
Earnings per Share
|
$ | 1.07 | $ | 0.97 | $ | 1.10 | $ | 2.91 | $ | 2.81 | ||||||||||
|
Net Interest Margin
|
4.25 | % | 4.14 | % | 4.07 | % | 4.18 | % | 4.01 | % | ||||||||||
|
Efficiency Ratio **
|
68.43 | % | 72.01 | % | 69.77 | % | 70.35 | % | 71.23 | % | ||||||||||
|
Non-Interest Income as a % of Avg. Assets**
|
1.01 | % | 0.92 | % | 0.94 | % | 0.98 | % | 0.92 | % | ||||||||||
|
Non-Interest Expense as a % of Avg. Assets**
|
3.45 | % | 3.50 | % | 3.37 | % | 3.48 | % | 3.41 | % | ||||||||||
|
|
||||||||||||||||||||
| As of | As of | |||||||||||||||||||
| September 30, 2026 | December 31, 2025 | |||||||||||||||||||
|
Bank Level Capital Ratios:
|
||||||||||||||||||||
|
Tier 1 Leverage Ratio
|
12.01% (Est.) | 11.81 | % | |||||||||||||||||
|
Common Equity Tier 1 Ratio
|
16.47% (Est.) | 16.46 | % | |||||||||||||||||
|
Tier 1 Risk-Based Capital Ratio
|
16.47% (Est.) | 16.46 | % | |||||||||||||||||
|
Total Risk-Based Capital Ratio
|
17.74% (Est.) | 17.48 | % | |||||||||||||||||
|
Company:
|
||||||||||||||||||||
|
Tangible Equity / Total Assets
|
7.54 | % | 7.86 | % | ||||||||||||||||
|
Tangible Book Value per Share
|
$ | 27.20 | $ | 28.86 | ||||||||||||||||
|
|
||||||||||||||||||||
| 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 | ||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | ||||||||||||||||
|
Net Income (GAAP)
|
$ | 3,673,220 | $ | 3,329,725 | $ | 3,777,235 | $ | 9,969,883 | $ | 9,629,468 | ||||||||||
|
|
||||||||||||||||||||
|
Provision for Loan Losses
|
118,171 | 16,947 | (338,538 | ) | 461,245 | 6,592 | ||||||||||||||
|
Net (Gain) Loss on OREO
|
296,364 | 40,531 | 50,180 | 445,143 | 195,443 | |||||||||||||||
|
Net (Gain) Loss on Securities
|
– | – | – | 251,095 | – | |||||||||||||||
|
Non-recurring Expenses
|
– | – | – | – | – | |||||||||||||||
|
Income Tax Expense
|
762,688 | 660,420 | 785,308 | 2,016,548 | 1,898,175 | |||||||||||||||
|
|
||||||||||||||||||||
|
Pre-tax, Pre-Provision Operating Income
|
$ | 4,850,443 | $ | 4,047,623 | $ | 4,274,185 | $ | 13,143,914 | $ | 11,729,678 | ||||||||||
** Non-recurring items are eliminated for this ratio
SOURCE: JD Bancshares, Inc.
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