Condensed Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2024

Condensed Parent Company Only Financial Information

Condensed Parent Company Only Financial Information

Note 17. Condensed Parent Company Only Financial Information

Condensed financial statements of Fifth District Bancorp, Inc. (parent company only) are shown below. The parent company has no significant operating activities.

CONDENSED BALANCE SHEET

(dollars in thousands)	December 31, 2024
Assets
Cash and Cash Equivalents	$	21,848
Investment in Subsidiary		103,866
Other Assets		263
Total Assets	$	125,977
Liabilities and Stockholders' Equity
Due to Subsidiary	$	202
Stockholders' Equity		125,775
Total Liabilities and Stockholders' Equity	$	125,977

CONDENSED STATEMENT OF OPERATIONS

	For the Year Ended
(dollars in thousands)	December 31, 2024
Equity in Undistributed Losses of Subsidiary	$	(91)
Total Income		(91)
Operating Expenses		1,250
Total Expense		1,250
Loss Before Income Tax Benefit		(1,341)
Income Tax Benefit		(263)
Net Loss	$	(1,078)

CONDENSED STATEMENT OF CASH FLOWS

	For the Year Ended
(dollars in thousands)	December 31, 2024
Cash Flows from Operating Activities
Net Loss	$	(1,078)
Adjustments to Reconcile Net Loss to Net
Cash Used in Operating Activities
Equity in Undistributed Losses of Subsidiary		91
Increase in Other Assets		(263)
Increase in Other Liabilities		202
Net Cash Used in Operating Activities		(1,048)
Cash Flows from Investing Activities
Investment In Subsidiary		(25,851)
Net Cash Used in Investing Activities		(25,851)
Cash Flows from Financing Activities
Net Proceeds from Issuance of Common Stock		48,747
Net Cash Used in Financing Activities		48,747
Net Increase in Cash and Cash Equivalents		21,848
Cash and Cash Equivalents, Beginning of Year		—
Cash and Cash Equivalents, End of Year	$	21,848