Net interest income grew to $3.5 million by 2026Q1, yet persistent margin compression remains a concern as the net interest margin has failed to exceed 0.7% over the past ten quarters.
| Net Interest Income | 13.46M | 12.85M | 10.06M | 10.05M | 12.78M |
| NII Growth % | 95.27% | 27.76% | 0.07% | -21.39% | - |
| Net Interest Margin % | 2.51% | 2.4% | 1.91% | 2.09% | 2.7% |
| Interest Income | 22.5M | 22.06M | 19.28M | 16.41M | 14.4M |
| Interest Expense | 9.04M | 9.21M | 9.22M | 6.37M | 1.62M |
| Loan Loss Provision | 10K | 10K | -1.21M | -325K | 0 |
| Non-Interest Income | 4.4M | 4.43M | 11K | 973K | 952.05K |
| Non-Interest Income % | 16.35% | 16.72% | 0.06% | 5.6% | 6.2% |
| Total Revenue | 26.9M | 26.49M | 19.29M | 17.39M | 15.35M |
| Revenue Growth % | 108.27% | 37.33% | 10.93% | 13.26% | - |
| Non-Interest Expense | 13.27M | 13.08M | 12.71M | 10.4M | 10.11M |
| Efficiency Ratio | 49.34% | 49.39% | 65.91% | 59.82% | 65.87% |
| Operating Income | 4.58M | 4.18M | -1.44M | 946K | 3.62M |
| Operating Margin % | 17.01% | 15.8% | -7.45% | 5.44% | 23.6% |
| Operating Income Growth % | - | 391.43% | -251.8% | -73.88% | - |
| Pretax Income | 4.58M | 4.18M | -1.44M | 946K | 3.62M |
| Pretax Margin % | 17.01% | 15.8% | -7.45% | 5.44% | 23.6% |
| Income Tax | 179K | 97K | -358K | 149K | 712.43K |
| Effective Tax Rate % | 3.91% | 2.32% | 24.93% | 15.75% | 19.67% |
| Net Income | 4.4M | 4.09M | -1.08M | 797K | 2.91M |
| Net Margin % | 16.35% | 15.43% | -5.59% | 4.58% | 18.96% |
| Net Income Growth % | 3231.06% | 479.22% | -235.26% | -72.61% | - |
| Net Income (Continuing) | 4.4M | 4.09M | -1.08M | 797K | 2.91M |
| EPS (Diluted) | 0.85 | 0.80 | -0.21 | 0.14 | 0.52 |
| EPS Growth % | 3956.67% | 480.95% | -250% | -73.08% | - |
| EPS (Basic) | - | 0.79 | -0.21 | 0.14 | 0.52 |
| Diluted Shares Outstanding | 5.14M | 5.14M | 5.13M | 5.56M | 5.56M |
Geographic and Concentration Risk
According to the provided quarterly data, FDSB has demonstrated consistent growth in net interest income, rising from $2.0 million in 2024Q1 to $3.5 million by 2026Q1, reflecting a successful repricing strategy within its core residential mortgage portfolio despite a challenging and volatile interest rate environment.
The steady climb in NII suggests that the bank is effectively managing its deposit betas, allowing it to capture higher yields on its loan book. Investors should monitor whether this trajectory can be sustained as the competitive landscape for deposits in the New Orleans-Metairie MSA intensifies.
As reported in financial statements, FDSB's net interest margin has remained largely stagnant, hovering between 0.4% and 0.7% over the last ten quarters, which indicates that funding costs are largely offsetting the gains realized from the bank's recent expansion in total interest-earning asset volume.
The narrow NIM profile appears to be a structural byproduct of the bank's heavy reliance on fixed-rate residential mortgages. This lack of margin expansion warrants further investigation into the bank's ability to pivot toward higher-yielding commercial assets without significantly increasing its risk profile.
Based on the bank's reported figures, the efficiency ratio has fluctuated significantly, reaching a peak of 78.9% in 2024Q1 before improving to 55.9% in 2026Q1, suggesting that the institution is still struggling to achieve consistent operating leverage while maintaining its traditional brick-and-mortar branch footprint.
The variability in the efficiency ratio implies that non-interest expenses are not perfectly aligned with revenue growth cycles. Analysts should consider whether the bank's current cost structure is scalable or if it will continue to act as a drag on profitability during periods of slower revenue growth.
Data from recent filings indicates that FDSB has maintained a minimal provision for loan losses, with several quarters reporting zero expense, which suggests a management perception of high asset quality within its localized New Orleans residential mortgage portfolio despite broader regional economic uncertainties and potential market volatility.
While the lack of provision expense bolsters short-term net income, it may also reflect a conservative approach to credit risk that could be tested in a downturn. Investors should monitor the bank's non-performing asset levels to determine if this low-provision environment is sustainable or merely a temporary phenomenon.
Quick answers to the most common questions about buying FDSB stock.
Fifth District Savings Bank (FDSB) is profitable, generating $4.1M in net income for the fiscal year ending 2025 with a net profit margin of 15.4%.
Fifth District Savings Bank (FDSB) reported an operating income of $4.2M, resulting in an operating profit margin of 15.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Fifth District Savings Bank (FDSB) generated $17.3M in gross profit for the year, representing a gross profit margin of 65.2%. This demonstrates the company's core pricing power and production efficiency.