$FDSB

Fifth District Bancorp, Inc.

CIK:0002012726|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and Dividend Income
Loans, Including Fees	$ 4,619	$ 4,205	$ 9,052	$ 8,220
Investment Securities	1,026	1,018	2,067	1,919
Other Interest-Earning Assets	151	257	332	550
Total Interest and Dividend Income	5,796	5,480	11,451	10,689
Interest Expense
Deposits	2,080	2,332	4,183	4,604
Total Interest Expense	2,080	2,332	4,183	4,604
Net Interest Income	3,716	3,148	7,268	6,085
Net Interest Income After Provision for Credit Losses	3,716	3,148	7,268	6,085
Non-Interest Income
Bank Owned Life Insurance	74	100	143	176
Gain on Sale of Real Estate Owned	2	1	2	14
Gain on Insurance Proceeds		3,469		3,469
Other	10	10	21	23
Total Non-Interest Income	239	3,719	470	3,981
Non-Interest Expense
Salaries and Employee Benefits	2,065	2,536	3,978	4,358
Occupancy and Equipment	493	474	996	954
Federal Deposit Insurance	53	53	107	106
Directors	67	64	133	136
Professional and Legal	82	76	186	136
Audit and Examination	81	84	160	169
Data Processing	356	320	699	638
Advertising	47	25	85	44
Charitable Contributions	4	8	8	15
Other	222	192	411	377
Total Non-Interest Expense	3,470	3,832	6,763	6,933
Income Before Income Taxes	485	3,035	975	3,133
Income Tax Expense (Benefit)	101	(91)	204	(71)
Net Income	$ 384	$ 3,126	$ 771	$ 3,204
Income per Share - Basic (in dollars per share)	$ 0.08	$ 0.61	$ 0.16	$ 0.62
Income per Share - Diluted (in dollars per share)	$ 0.08	$ 0.61	$ 0.16	$ 0.62
Deposit Service Charges and Fees
Non-Interest Income
Non-Interest Income (In-Scope of Topic 606)	$ 53	$ 52	$ 107	$ 103
ATM and Check Card Fees
Non-Interest Income
Non-Interest Income (In-Scope of Topic 606)	$ 100	$ 87	$ 197	$ 196

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net Income	$ 771,000	$ 3,204,000
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Gain on Insurance Proceeds		(3,469,000)
Gain on Sale of Real Estate Owned	(2,000)	(14,000)
Depreciation	328,000	337,000
Net Amortization (Accretion) of Deferred Loan Costs	5,000	(45,000)
Net Amortization on Investment Securities	20,000	78,000
Federal Home Loan Bank Stock Dividend	(11,000)	(13,000)
Deferred Tax Benefit	(3,000)	(262,000)
Increase in Cash Surrender Value on Bank Owned Life Insurance	(143,000)	(176,000)
ESOP Compensation Expense	168,000	138,000
Stock-Based Compensation	311,000
Changes in Operating Assets and Liabilities
Accrued Interest Receivable	(275,000)	(247,000)
Other Assets	425,000	575,000
Other Liabilities	305,000	1,147,000
Net Cash Provided by Operating Activities	1,899,000	1,253,000
Proceeds from Sale or Maturities of Investment Securities
Available-for-Sale	8,353,000	7,350,000
Purchases of Investment Securities Available-for-Sale	(3,893,000)	(12,514,000)
Increase in Loans Receivable, Net	(17,016,000)	(12,359,000)
Proceeds from Sale of Real Estate Owned	44,000	144,000
Purchases of Premises and Equipment	(567,000)	(239,000)
Net Cash Used in Investing Activities	(13,079,000)	(17,618,000)
Cash Flows from Financing Activities
Increase (Decrease) in Deposits, Net	(1,556,000)	6,767,000
Decrease in Advances by Borrowers for Taxes, Insurance and Repairs	(245,000)	(624,000)
Repurchase of Common Stock	(1,710,000)
Net Cash Provided by (Used in) Financing Activities	(3,511,000)	6,143,000
Net Decrease in Cash and Cash Equivalents	(14,691,000)	(10,222,000)
Cash and Cash Equivalents, Beginning of Period	33,852,000	37,916,000
Cash and Cash Equivalents, End of Period	19,161,000	27,694,000
Supplemental Disclosures of Cash Flow Information
Cash Paid During the Period for Interest	4,401,000	4,627,000
Non-Cash Investing and Financing Activities
Real Estate Owned Acquired Through Foreclosure	$ 45,000	$ 130,000

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and Due from Banks	$ 6,348,000	$ 4,993,000
Interest-Bearing Deposits at Other Financial Institutions	12,813,000	28,859,000
Total Cash and Cash Equivalents	19,161,000	33,852,000
Investment Securities Available-for-Sale, at Fair Value (amortized cost $99,530 and $104,010 respectively)	94,206,000	99,077,000
Restricted Stock	946,000	935,000
Loans Receivable, Net of Unearned Income	395,056,000	378,090,000
Allowance for Credit Losses	(1,699,000)	(1,699,000)
Loans Receivable, Net	393,357,000	376,391,000
Bank Owned Life Insurance	7,832,000	7,689,000
Premises and Equipment, Net	11,875,000	11,636,000
Accrued Interest Receivable	2,274,000	1,999,000
Real Estate Owned	45,000	42,000
Deferred Tax Asset, Net	1,803,000	1,722,000
Other Assets	626,000	1,051,000
Total Assets	532,125,000	534,394,000
Deposits
Interest-Bearing	390,091,000	391,364,000
Noninterest-Bearing	1,515,000	1,798,000
Advances from Borrowers for Taxes, Insurance, and Repairs	5,933,000	6,178,000
Other Liabilities	5,582,000	5,297,000
Total Liabilities	403,121,000	404,637,000
Stockholders' Equity
Preferred Stock - $0.01 Par Value; 1,000,000 Shares Authorized, None Issued and Outstanding at June 30, 2026 and December 31, 2025
Common Stock - $0.01 Par Value; 20,000,000 Shares Authorized: 5,235,658 and 5,349,039 Shares Issued and Outstanding at June 30, 2026 and December 31, 2025	53,000	54,000
Additional Paid-In Capital	50,430,000	51,195,000
Unearned ESOP Stock	(3,894,000)	(4,005,000)
Retained Earnings	87,136,000	86,941,000
Accumulated Other Comprehensive Loss	(4,721,000)	(4,428,000)
Total Stockholders' Equity	129,004,000	129,757,000
Total Liabilities and Stockholders' Equity	$ 532,125,000	$ 534,394,000