- JD Bancshares (OTCQX: JDVB) reported Q1 2025 net income of $2.93 million, or $0.85 per share.
- Total deposits increased significantly by $37.5 million, reaching $1.1 billion.
- Net interest margin improved to 3.89% from 3.83% in Q4 2024.
JD Bancshares, Inc. (OTCQX: JDVB) announced its financial results for the first quarter ended March 31, 2025. The company reported a net income of $2.93 million, or $0.85 per share. This represents a decrease compared to $3.25 million ($0.95 per share) from the previous quarter and $3.65 million ($1.07 per share) in the first quarter of 2024. The decline is attributed to reduced non-interest income and increased non-interest expenses.
Despite the drop in net income, key financial metrics showed stability. Net interest income remained stable at $10.8 million, while total assets slightly decreased by $9.8 million to $1.2 billion during the quarter. A positive highlight was the $37.5 million increase in total deposits, which rose to $1.1 billion.
The loan portfolio also saw a modest increase of $6.9 million. Improvements were seen in asset quality, as loans past due 30-89 days decreased to $1.4 million, representing 0.20% of the total loans, down from $3.1 million in the previous quarter.
CEO Paul E. Brummett, II, expressed satisfaction with the company's performance, highlighting the strong capital position, good liquidity, and solid earnings. He noted potential economic challenges ahead but expressed confidence in the company's ability to navigate them.
The company maintained a healthy net interest margin of 3.89%, an improvement from 3.83% in the previous quarter. However, return on average assets (ROA) decreased to 1.00%, down from 1.08% in Q4 2024, reflecting the challenges faced in non-interest income and expenses.
