Fifth District Bancorp, Inc 10-Q for FY2025 Q1

Fifth District Bancorp, Inc. (FDSB)

10-Q 2025-05-13 For: 2025-03-31

Added on April 11, 2026

About this 10-Q

Fifth District Bancorp, Inc filed this 10-Q on May 13, 2025, covering the quarter ended March 31, 2025 (FY2025 Q1).

Headline figures

Quarter ended March 31, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net income: $78K; compared with a net loss of $1.13M a year earlier
Diluted EPS: $0.02

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Maryland		99-1897673
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification Number)

4000 General DeGaulle Drive, New Orleans, Louisiana		70114
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading symbol(s)	Name of Each Exchange on Which Registered
Common Stock, $0.01 par value per share	FDSB	The Nasdaq Stock Market, LLC


Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging growth company ☒


		Page
Part I. – Financial Information

Item 1.	Financial Statements	1

	Consolidated Balance Sheets as of March 31, 2025 (unaudited) and December 31, 2024	1

	Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024 (unaudited)	2

	Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2025 and 2024 (unaudited)	3

	Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2025 and 2024 (unaudited)	4

	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024 (unaudited)	5

	Notes to Consolidated Financial Statements (unaudited)	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	33

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	41

Item 4.	Controls and Procedures	41

Part II. – Other Information

Item 1.	Legal Proceedings	42

Item 1A.	Risk Factors	42

Item 2.	Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities	42

Item 3.	Defaults Upon Senior Securities	42

Item 4.	Mine Safety Disclosures	42

Item 5.	Other Information	42

Item 6.	Exhibits	43

	Signature Page	44


	March 31,		December 31,
	2025		2024
	(Unaudited)		(Audited)
Assets
Cash and Due from Banks	$	5,451	$	5,850
Interest-Bearing Deposits at Other Financial Institutions		24,652		32,066
Total Cash and Cash Equivalents		30,103		37,916

Investment Securities Available-for-Sale, at Fair Value (amortized cost $103,260 and $101,712 respectively)		96,228		92,987
Restricted Stock		916		910
Loans Receivable, Net of Unearned Income		377,969		369,032
Allowance for Credit Losses		(1,699)		(1,699)
Loans Receivable, Net		376,270		367,333
Bank Owned Life Insurance		10,773		10,685
Premises and Equipment, Net		11,811		11,923
Accrued Interest Receivable		2,216		1,967
Real Estate Owned		42		42
Deferred Tax Asset, Net		2,092		2,447
Other Assets		618		1,097

Total Assets	$	531,069	$	527,307

Liabilities and Stockholders' Equity
Liabilities
Deposits
Interest-Bearing	$	392,923		389,860
Noninterest-Bearing		1,462		1,616
Advances from Borrowers for Taxes, Insurance, and Repairs		4,266		5,280
Other Liabilities		5,157		4,776

Total Liabilities		403,808		401,532

Stockholders' Equity
Preferred Stock - $0.01 Par Value; 1,000,000 Shares Authorized, None issued and Outstanding at March 31, 2025 and December 31, 2024		—		—
Common Stock - $0.01 Par Value; 20,000,000 Shares Authorized: 5,559,473 Shares Issued and Outstanding at both March 31, 2025 and December 31, 2024		56		56
Additional Paid-In Capital		53,178		53,163
Unearned ESOP Stock		(4,171)		(4,226)
Retained Earnings		83,771		83,693
Accumulated Other Comprehensive Loss		(5,573)		(6,911)

Total Stockholders' Equity		127,261		125,775

Total Liabilities and Stockholders' Equity	$	531,069	$	527,307


	Three Months Ended
	March 31,
	2025		2024
Interest and Dividend Income
Loans, Including Fees	$	4,015	$	3,702
Investment Securities		901		396
Other Interest-Earning Assets		293		202

Total Interest and Dividend Income		5,209		4,300

Interest Expense
Deposits		2,272		2,247
Short-Term Federal Home Loan Bank Advances		—		5

Total Interest Expense		2,272		2,252

Net Interest Income		2,937		2,048

Recovery of Credit Losses on Loans		—		(100)

Net Interest Income After Recovery of Credit Losses		2,937		2,148

Non-Interest Income
Deposit Service Charges and Fees		51		54
ATM and Check Card Fees		96		97
Bank Owned Life Insurance		88		83
Loss on Investments Securities		—		(1,144)
Gain on Sale of Real Estate Owned		13		—
Other		14		13

Total Non-Interest Income (Loss)		262		(897)

Non-Interest Expense
Salaries and Employee Benefits		1,822		1,564
Occupancy and Equipment		479		429
Federal Deposit Insurance		53		50
Directors		73		72
Professional and Legal		60		38
Audit and Examination		85		63
Data Processing		318		294
Advertising		19		28
Other		191		146

Total Non-Interest Expense		3,100		2,684

Income (Loss) Before Income Taxes		99		(1,433)

Income Tax Expense (Benefit)		21		(301)

Net Income (Loss)	$	78	$	(1,132)

Earnings per Share - Basic and Diluted	$	0.02		N/A


									Accumulated
			Additional		Unearned				Other		Total
	Common		Paid-In		ESOP		Retained		Comprehensive		Stockholders'
(in thousands)	Stock		Capital		Shares		Earnings		Loss		Equity
Balance at December 31, 2023	$	—	$	—	$	—	$	84,771	$	(6,973)	$	77,798

Net Loss		—		—		—		(1,132)		—		(1,132)

Other Comprehensive Income		—		—		—		—		301		301

Balance at March 31, 2024	$	—	$	—	$	—	$	83,639	$	(6,672)	$	76,967

Balance at December 31, 2024		56		53,163		(4,226)		83,693		(6,911)		125,775

Net Income		—		—		—		78		—		78

Other Comprehensive Income		—		—		—		—		1,338		1,338

Issuance of Common Stock		—		—		—		—		—		—

ESOP Shares Released for Allocation		—		15		55		—		—		70

Balance at March 31, 2025	$	56	$	53,178	$	(4,171)	$	83,771	$	(5,573)	$	127,261


	Three Months Ended
	March 31,
(in thousands)	2025		2024
Cash Flows from Operating Activities
Net Income (Loss)	$	78	$	(1,132)
Adjustments to Reconcile Net Income (Loss) to Net
Cash Provided by (Used in) Operating Activities
Recovery of Credit Losses		—		(100)
Gain on Sale of Real Estate Owned		(13)		—
Depreciation		170		165
Net Amortization (Accretion) of Deferred Loan Costs		(46)		7
Net Amortization on Investment Securities		49		68
Loss on Sale of Investment Securities		—		1,144
Federal Home Loan Bank Stock Dividend		(7)		(7)
Deferred Tax Expense		(262)		—
Increase in Cash Surrender Value on Bank Owned Life Insurance		(88)		(83)
ESOP Compensation Expense		70		—
Changes in Operating Assets and Liabilities
Accrued Interest Receivable		(249)		(165)
Other Assets		741		(957)
Other Liabilities		380		290

Net Cash Provided by (Used in) Operating Activities		823		(770)

Cash Flows from Investing Activities
Proceeds from Sale or Maturities of Investment Securities
Available-for-Sale		3,405		19,741
Purchases of Investment Securities Available-for-Sale		(4,999)		(6,445)
Increase in Loans Receivable, Net		(9,021)		(272)
Proceeds from Sale of Real Estate Owned		142		—
Purchases of Premises and Equipment		(58)		(344)

Net Cash Provided by (Used in) Investing Activities		(10,531)		12,680

Loan Pool		Risk Characteristics
One-to-Four Family Mortgages		This category consists of loans secured by residential real estate. The performance of these loans may be adversely affected by, among other factors, local residential real estate market conditions, the interest rate environment, and inflation.

Construction Loans		This category consists of loans to finance the ground-up construction and/or improvement of residential and vacant lot loans. The performance of construction loans is generally dependent upon the successful completion of improvements and/or land development for the end user. The successful completion of planned improvements and development may be adversely affected by changes in the estimated property value upon completion of construction, projected costs, and other conditions leading to project delays.

Home Equity Loans/ Lines of Credit		This category consists of loans secured by first and junior liens on residential real estate. The performance of these loans may be adversely affected by, among other factors, local residential real estate market conditions, the interest rate environment, and inflation.

Commercial Loans		This category consists of loans primarily secured by office and industrial buildings, warehouses, retail shopping facilities and various special purpose properties, including hotel and restaurants. The performance of these loans may be adversely affected by, among other factors, conditions specific to the relevant industry, the real estate market for the property type and geographic region where the property of the borrower is located. This category consists of loans to finance the ground-up construction and/or improvement of commercial properties. The performance of these loans is generally dependent upon the successful completion of improvements and/or land development for the end user. The successful completion of planned improvements and development may be adversely affected by changes in the estimated property value upon completion of construction, projected costs and other conditions leading to project delays. This category consists of purchased business loans made to various practitioners and other professionals. These loans are often originally secured by blanket UCC-1 filings. When the loan is purchased, the Bank purchases 100% of the loan and remits 97% of the loan balance to the seller and the seller establishes a reserve deposit account with the Bank equal to 3% of the loan balance. If a loan becomes delinquent, the Bank withdraws payment from the reserve deposit account. If a loan becomes 90 days delinquent, the seller typically replaces the delinquent loan with a performing loan of equal or greater balance (although this is not a contractual obligation of the seller). The performance of these loans may be adversely affected by, among other factors, local and national market conditions, the interest rate environment and inflation.


	December 31, 2024
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(in thousands)	Cost		Gains		Losses		Value
U.S. Government Agencies	$	1,000	$	—	$	(4)	$	996
Mortgage-Backed Securities		94,003		90		(8,674)		85,419
Collateralized Mortgage Obligations		2,459		—		(137)		2,322
Corporate Bonds		4,250		—		—		4,250

Total	$	101,712	$	90	$	(8,815)	$	92,987


	December 31, 2024
	Securities				Securities
	With Losses Under				With Losses Over
	12 Months				12 Months				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)	Value		Loss		Value		Loss		Value		Loss
U.S. Government Agencies	$	—	$	—	$	996	$	(4)	$	996	$	(4)
Mortgage-Backed Securities		38,128		(433)		39,103		(8,241)		77,231		(8,674)
Collateralized Mortgage Obligations		962		(10)		1,360		(127)		2,322		(137)

Total	$	39,090	$	(443)	$	41,459	$	(8,372)	$	80,549	$	(8,815)


	Amortized		Fair
(in thousands)	Cost		Value
Available-for-Sale
Due in 1 Year or Less	$	—	$	—
Due after 1 Year through 5 Years		1,614		1,611
Due after 5 Years through 10 Years		10,555		10,049
Due after 10 Years		91,091		84,568

Total	$	103,260	$	96,228


	March 31, 2025
					Loans 90 Days or
	30-59 Days		60-89 Days		More Past Due and		Nonaccrual		Current		Total Loans
(in thousands)	Past Due		Past Due		Still Accruing		Loans		Loans		Receivable
One-to-Four Family Mortgages	$	3,550	$	—	$	—	$	758	$	332,005	$	336,313
Home Equity Lines of Credit		—		—		—		—		8,476		8,476
Construction Loans		—		—		—		—		11,550		11,550
Consumer Loans		7		—		—		—		4,781		4,788
Commercial Loans		—		33		—		—		16,076		16,109

Total	$	3,557	$	33	$	—	$	758	$	372,888	$	377,236


	December 31, 2024
					Loans 90 Days or
	30-59 Days		60-89 Days		More Past Due and		Nonaccrual		Current		Total Loans
(in thousands)	Past Due		Past Due		Still Accruing		Loans		Loans		Receivable
One-to-Four Family Mortgages	$	2,925	$	1,011	$	—	$	956	$	327,767	$	332,659
Home Equity Lines of Credit		—		—		—		—		7,952		7,952
Construction Loans		332		—		—		119		9,137		9,588
Consumer Loans		91		—		—		—		3,608		3,699
Commercial Loans		—		—		—		—		14,355		14,355

Total	$	3,348	$	1,011	$	—	$	1,075	$	362,819	$	368,253


	Term Loans by Year of Origination
(in thousands	2025		2024		2023		2022		2021		Prior		Revolving		Total
One-to-Four Family Mortgages
Pass	$	5,389	$	11,567	$	23,180	$	39,759	$	54,970	$	197,729	$	—	$	332,594
Special Mention		—		—		—		687		831		1,443		—		2,961
Substandard		—		—		—		—		401		357		—		758
Total One-to-Four Family Mortgages	$	5,389	$	11,567	$	23,180	$	40,446	$	56,202	$	199,529	$	—	$	336,313

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Home Equity Lines of Credit
Pass	$	345	$	455	$	66	$	88	$	—	$	520	$	6,926	$	8,400
Special Mention		—		—		—		—		—		—		76		76
Substandard		—		—		—		—		—		—		—		—
Total Home Equity Lines of Credit	$	345	$	455	$	66	$	88	$	—	$	520	$	7,002	$	8,476

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Construction Loans
Pass	$	1,831	$	8,753	$	282	$	61	$	396	$	227	$	—	$	11,550
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total Construction Loans	$	1,831	$	8,753	$	282	$	61	$	396	$	227	$	—	$	11,550

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer Loans
Pass	$	1,348	$	2,815	$	231	$	36	$	34	$	324	$	—	$	4,788
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total Consumer Loans	$	1,348	$	2,815	$	231	$	36	$	34	$	324	$	—	$	4,788

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial Loans
Pass	$	2,553	$	4,689	$	5,714	$	3,057	$	—	$	96	$	—	$	16,109
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total Commercial Loans	$	2,553	$	4,689	$	5,714	$	3,057	$	—	$	96	$	—	$	16,109

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	March 31,
(in thousands)	2025		2024
Balance, Beginning of the Year	$	511	$	546
New Loans		—		—
Change in Related Parties, Net		—		—
Repayments, Net		(9)		(9)

Balance, End of Year	$	502	$	537


									Required to Be Well-
					Required for				Capitalized Under
					Capital Adequacy				Prompt Corrective
	Actual				Purposes				Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
March 31, 2025
Tier 1 Capital to Average Assets	$	110,856	20.71	%	$	21,409	4.00	%	$	26,761	5.00	%
Common Equity Tier 1 Capital to Risk-Weighted Assets		110,856	41.88			11,911	4.50			17,205	6.50
Tier 1 Capital to Risk-Weighted Assets		110,856	41.88			15,882	6.00			21,176	8.00
Total Capital to Risk-Weighted Assets		112,570	42.53			21,176	8.00			26,470	10.00

December 31, 2024
Tier 1 Capital to Average Assets	$	110,777	20.78	%	$	21,322	4.00	%	$	26,653	5.00	%
Common Equity Tier 1 Capital to Risk-Weighted Assets		110,777	43.24			11,529	4.50			16,654	6.50
Tier 1 Capital to Risk-Weighted Assets		110,777	43.24			15,373	6.00			20,497	8.00
Total Capital to Risk-Weighted Assets		112,491	43.91			20,497	8.00			25,621	10.00


	Term Loans by Year of Origination
(in thousands)	2024		2023		2022		2021		2020		Prior		Revolving		Total
One-to-Four Family Mortgages
Pass	$	10,209	$	22,131	$	39,963	$	55,912	$	46,651	$	152,989	$	—	$	327,855
Special Mention		—		—		778		836		357		1,877		—		3,848
Substandard		—		—		—		406		—		550		—		956
Total One-to-Four Family Mortgages	$	10,209	$	22,131	$	40,741	$	57,154	$	47,008	$	155,416	$	—	$	332,659

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Home Equity Lines of Credit
Pass	$	378	$	66	$	82	$	—	$	—	$	531	$	6,819	$	7,876
Special Mention		—		—		—		—		—		—		76		76
Substandard		—		—		—		—		—		—		—		—
Total Home Equity Lines of Credit	$	378	$	66	$	82	$	—	$	—	$	531	$	6,895	$	7,952

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	3	$	3

Construction Loans
Pass	$	7,385	$	1,360	$	62	$	400	$	113	$	149	$	—	$	9,469
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		119		—		—		—		—		119
Total Construction Loans	$	7,385	$	1,360	$	181	$	400	$	113	$	149	$	—	$	9,588

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer Loans
Pass	$	3,002	$	236	$	55	$	35	$	71	$	300	$	—	$	3,699
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total Consumer Loans	$	3,002	$	236	$	55	$	35	$	71	$	300	$	—	$	3,699

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial Loans
Pass	$	5,119	$	6,004	$	3,133	$	—	$	—	$	99	$	—	$	14,355
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total Commercial Loans	$	5,119	$	6,004	$	3,133	$	—	$	—	$	99	$	—	$	14,355

Current Period Gross Write-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	For the Three Months Ended March 31,
(in thousands)	2025		2024
One-to-Four Family Mortgages	$	10	$	6
Home Equity Lines of Credit		—		—
Construction Loans		—		—
Consumer Loans		—		—
Commercial Loans		—		—

Total	$	10	$	6


	March 31, 2025
	Residential				Business
(in thousands)	Properties		Land		Assets		Other		Total
One-to-Four Family Mortgages	$	758	$	—	$	—	$	—	$	758
Home Equity Lines of Credit		—		—		—		—		—
Construction Loans		—		—		—		—		—
Consumer Loans		—		—		—		—		—
Commercial Loans		—		—		—		—		—

Total	$	758	$	—	$	—	$	—	$	758


	One-to-Four		Home Equity
	Family		Loans / Lines		Construction		Consumer		Commercial
Three Months Ended March 31, 2025	Mortgages		of Credit		Loans		Loans		Loans		Unallocated		Total
Allowance for Credit Losses
Beginning Balance	$	1,526	$	45	$	13	$	28	$	80	$	7	$	1,699
Recovery of Credit Loss		(85)		(2)		13		(1)		(37)		112		—
Loans Charged-Off		—		—		—		—		—		—		—
Recoveries Collected		—		—		—		—		—		—		—

Ending Balance	$	1,441	$	43	$	26	$	27	$	43	$	119	$	1,699

Three Months Ended March 31, 2024
Allowance for Credit Losses
Beginning Balance	$	2,554	$	57	$	32	$	9	$	126	$	24	$	2,802
Recovery of Credit Loss		(5)		—		2		(9)		(67)		(22)		(100)
Loans Charged-Off		—		(3)		—		—		—		—		(3)
Recoveries Collected		—		—		—		—		—		—		—

Ending Balance	$	2,549	$	54	$	34	$	—	$	59	$	2	$	2,699


	December 31, 2024
							Total
	Fair Value Measurements						Estimated
(in thousands)	Level 1		Level 2		Level 3		Fair Value
Investment Securities Available-for-Sale
U.S. Government Agencies	$	—	$	996	$	—	$	996
Mortgage-Backed Securities		—		85,419		—		85,419
Collateralized Mortgage Obligations				2,322		—		2,322
Corporate Bonds		—		4,250		—		4,250

Total	$	—	$	92,987	$	—	$	92,987


	March 31, 2025
							Total
	Fair Value Measurements						Estimated
(in thousands)	Level 1		Level 2		Level 3		Fair Value
Assets
Collateral Dependent Loans	$	—	$	—	$	758	$	758
Real Estate Owned		—		—		42		42

Total	$	—	$	—	$	800	$	800


	Valuation	Unobservable	Range of	Weighted Average
March 31, 2025	Technique	Inputs	Discount	Discount
Collateral Dependent Loans	Third-party appraisals and discounted cash flows	Collateral discounts and estimated costs to sell	6% - 10%	6%
Real Estate Owned	Third-party appraisals, sales contracts or brokered price options	Collateral discounts and estimated costs to sell	6% - 10%	6%


	December 31, 2024
	Carrying		Fair Value Measurements
(in thousands)	Value		Level 1		Level 2		Level 3
Financial Assets
Cash and Cash Equivalents	$	37,916	$	37,916	$	—	$	—
Investment Securities Available-for-Sale		92,987		—		92,987		—
Restricted Stock		910		—		—		910
Loans Receivable, Net		367,333		—		—		308,645
Bank Owned Life Insurance		10,685		—		10,685		—

Financial Liabilities
Deposits		391,476		—		—		351,041


	Three Months Ended
	March 31,
(In thousands, except per share data)	2025		2024
Numerator:
Net Income Available to Common Stockholders	$	78	$	—

Denominator:
Weighted Average Common Shares Outstanding		5,559		—
Weighted Average Unearned ESOP Shares		(420)		—
Weighted Average Shares		5,139		—

Income per Common Share - Basic and Diluted	$	0.02	$	—


At March 31, 2025
							EVE as a Percentage of Present Value
							of Assets ⁽³⁾
			Estimated Increase (Decrease) in						Increase
			EVE						(Decrease)
Change in Interest Rates (basis points) ⁽¹⁾	Estimated EVE ⁽²⁾		Amount		Percent		EVE Ratio ⁽⁴⁾		(basis points)
(Dollars in thousands)

400	$	56,785	$	(55,030)	(49.22)	%	14.40	%	(911)
300		67,986		(43,830)	(39.20)	%	16.53	%	(698)
200		81,087		(30,728)	(27.48)	%	18.83	%	(468)
100		95,505		(16,311)	(14.59)	%	21.14	%	(237)
Level		111,815		—	—	%	23.51	%	—
(100)		124,396		12,581	11.25	%	24.90	%	139
(200)		133,446		21,630	19.34	%	25.57	%	206
(300)		139,858		28,043	25.08	%	25.72	%	221
(400)		144,080		32,265	28.86	%	25.47	%	196


At March 31, 2025
Change in Interest Rates	Net Interest Income Year 1
(basis points) ⁽¹⁾	Forecast		Year 1 Change from Level
	(Dollars in thousands)

400	$	8,679	(31.93)	%
300		9,727	(23.71)
200		10,749	(15.70)
100		11,746	(7.88)
Level		12,751	—
(100)		13,076	2.55
(200)		13,325	4.50
(300)		13,495	5.83
(400)		13,665	7.17


3.1	Articles of Incorporation of Fifth District Bancorp, Inc. ⁽¹⁾

3.2	Bylaws of Fifth District Bancorp, Inc. ⁽²⁾

31.1	Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2	Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1	Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2	Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101	The following materials for the quarter ended March 31, 2025, formatted in Inline XBRL (Extensible Business Reporting Language): (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Operations, (iii) Consolidated Statements of Comprehensive (Loss) Income, (iv) Consolidated Statements of Stockholders’ Equity, (v) Consolidated Statements of Cash Flows, and (vi) Notes to Consolidated Financial Statements

104	Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101)


		FIFTH DISTRICT BANCORP, INC.


Date: May 13, 2025		/s/ Brian W. North
		Brian W. North
		President and Chief Executive Officer (Duly Authorized Representative and Principal Executive Officer)


Date: May 13, 2025		/s/ Melissa C. Burns
		Melissa C. Burns
		Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer