Note 18. | 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, 2025 | Assets | | | | Cash and Cash Equivalents | | $ | 19,167 | Investment in Subsidiary | | | 110,584 | Other Assets | | | 263 | Total Assets | | $ | 130,014 | | | | | Liabilities and Stockholders' Equity | | | | Due to Subsidiary | | $ | 257 | Stockholders' Equity | | | 129,757 | Total Liabilities and Stockholders' Equity | | $ | 130,014 |
CONDENSED STATEMENT OF OPERATIONS | | | | | | For the Year Ended | (dollars in thousands) | | December 31, 2025 | | | | | Equity in Undistributed Losses of Subsidiary | | $ | 4,235 | Total Income | | | 4,235 | Operating Expenses | | | 186 | Total Expense | | | 186 | | | | | Income Before Income Tax Benefit | | | 4,049 | Income Tax Benefit | | | (39) | Net Income | | $ | 4,088 |
CONDENSED STATEMENT OF CASH FLOWS | | | | | | For the Year Ended | (dollars in thousands) | | December 31, 2025 | | | | | Cash Flows from Operating Activities | | | | Net Loss | | $ | 4,088 | Adjustments to Reconcile Net Loss to Net | | | | Cash Used in Operating Activities | | | | Equity in Undistributed Losses of Subsidiary | | | (4,235) | Increase in Other Assets | | | — | Increase in Other Liabilities | | | 55 | | | | | Net Cash Used in Operating Activities | | | (92) | | | | | Cash Flows from Investing Activities | | | | Investment In Subsidiary | | | 355 | | | | | Net Cash Provided by Investing Activities | | | 355 | | | | | Cash Flows from Financing Activities | | | | (Repurchase) Net Proceeds from Issuance of Common Stock | | | (2,944) | | | | | Net Cash Used in Financing Activities | | | (2,944) | | | | | Net Decrease in Cash and Cash Equivalents | | | (2,681) | | | | | Cash and Cash Equivalents, Beginning of Year | | | 21,848 | | | | | Cash and Cash Equivalents, End of Year | | $ | 19,167 |
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