FDSBMEDIUM SIGNALFINANCIAL10-K

FDSB achieved a dramatic turnaround from a $1.1M net loss to $4.1M profit while growing its loan portfolio and shifting toward more diversified lending beyond residential mortgages.

The 479% swing from loss to profitability, combined with strong 14.4% growth in net interest income, indicates successful execution of the bank's lending strategy and improved operational efficiency. However, the shift in loan composition away from residential mortgages (down from 90.3% to 86.3% of portfolio) toward higher-risk commercial real estate loans suggests management is taking on more credit risk to drive growth.

Comparing 2026-03-24 vs 2025-03-26View on EDGAR →
FINANCIAL ANALYSIS

FDSB demonstrated strong financial recovery with net income swinging from -$1.1M to +$4.1M, driven primarily by 14.4% growth in net interest income to $22.1M as the loan portfolio expanded from $367.3M to $376.4M. Operating cash flow turned positive at $1.3M while capital expenditures declined 24.7%, indicating improved cash generation and disciplined spending. The overall picture signals a bank successfully emerging from a challenging period with stronger profitability and loan growth, though investors should monitor the shift toward higher-risk commercial lending.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+479.2%
-$1.1M→$4.1M

Net income grew 479.2% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+225.8%
-$1.1M→$1.3M

Operating cash flow surged 225.8% — exceptional cash generation, highest quality earnings signal.

Capital Expenditure
Cash Flow
-24.7%
$510K→$384K

Capex reduced 24.7% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Net Interest Income
P&L
+14.4%
$19.3M→$22.1M

Net interest income grew 14.4% — benefiting from rate environment or loan book expansion.

Cash & Equivalents
Balance Sheet
-10.7%
$37.9M→$33.9M

Cash decreased 10.7% — monitor burn rate and upcoming capital needs.

LANGUAGE CHANGES
NEW — 2026-03-24
PRIOR — 2025-03-26
ADDED
At December 31, 2025, the Company had total assets of $534.4 million, loans of $376.4 million, deposits of $393.2 million, and stockholders equity of $129.8 million.
At June 30, 2025 (the most recent date for which Federal Deposit Insurance Corporation (the FDIC ) is publicly available), we were ranked 11 th among the 26 FDIC-insured financial institutions with offices in Jefferson Parish, with a deposit market share of 2.30%; 9 th among the 21 FDIC-insured financial institutions with offices in Orleans Parish, with a deposit market share of 0.89%; and 22 nd among the 27 FDIC-insured financial institutions with offices in St.
At December 31, 2025 2024 Amount Percent Amount Percent (Dollars in thousands) One-to-four family mortgages $ 325,774 86.34 % $ 332,659 90.34 % Home equity lines of credit 10,091 2.67 7,952 2.16 Construction and land 12,538 3.32 9,588 2.60 Commercial real estate 10,547 2.79 594 0.16 Commercial and industrial 14,227 3.77 13,761 3.74 Consumer loans 4,189 1.11 3,699 1.00 377,366 100.00 % 368,253 100.00 % Less: Allowance for credit losses (1,699) (1,699) Deferred loan costs 724 779 Loans receivable, net $ 376,391 $ 367,333 Contractual Maturities.
At December 31, 2025, one-to four-family residential mortgage loans totaled $325.8 million, or 86.3% of total loans.
At December 31, 2025, one-to four-family residential mortgage loans secured by non-owner-occupied properties totaled $9.6 million.
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REMOVED
At December 31, 2024, the Company had total assets of $527.3 million, loans of $367.3 million, deposits of $391.5 million, and stockholders equity of $125.8 million.
To a substantially lesser extent, we also originate construction loans, home equity loans, home equity lines of credit, land loans, and share loans (loans secured by deposit accounts at Fifth District) and purchase commercial business loans.
At June 30, 2024 (the most recent date for which Federal Deposit Insurance Corporation (the FDIC ) is publicly available), we were ranked 11 th among the 25 FDIC-insured financial institutions with offices in Jefferson Parish, with a deposit market share of 1.63%; 9 th among the 22 FDIC-insured financial institutions with offices in Orleans Parish, with a deposit market share of 0.99%; and 22 nd among the 27 FDIC-insured financial institutions with offices in St.
At December 31, 2024 2023 Amount Percent Amount Percent (Dollars in thousands) Real Estate Loans: One- to four-family residential $ 332,659 90.34 % $ 337,056 91.83 % Construction and land development 9,588 2.60 8,128 2.21 Commercial and industrial loans 14,355 3.90 12,403 3.38 Home equity lines of credit 7,952 2.16 8,550 2.33 Consumer loans 3,699 1.00 913 0.25 368,253 100.00 % 367,050 100.00 % Less: Allowance for credit losses (1,699) (2,802) Deferred loan costs 779 790 Loans receivable, net $ 367,333 $ 365,038 Contractual Maturities.
At December 31, 2024, one-to four-family residential mortgage loans totaled $332.7 million, or 90.3% of total loans.
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