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Here are 1-3 brief analogies to describe Fifth District Bancorp (FDSB):

• It's like a highly localized version of a traditional regional bank, such as U.S. Bank, focused almost entirely on residential mortgages and deposit accounts for the New Orleans market.
• Imagine the neighborhood branch of a national bank like Wells Fargo, but the entire company operates at that local scale, serving only the New Orleans area with home loans and deposit services.

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• Residential Mortgage Loans: Primarily originates fixed-rate one- to four-family residential mortgage loans.
• Other Loan Products: Offers construction loans, home equity loans, home equity lines of credit, land loans, share loans, and purchased commercial business loans.
• Deposit Accounts: Provides a variety of deposit options including checking accounts, money market accounts, and certificates of deposit.
• Electronic Banking Services: Offers mobile banking, on-line banking, telephone banking, bill pay, and electronic funds transfer services.

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Fifth District Bancorp (FDSB) primarily serves individual customers within its New Orleans-Metairie Metropolitan Statistical Area. The company's major customer categories include:

• Homeowners and Prospective Homeowners: Individuals and families seeking financing for one- to four-family residential mortgages, home equity loans, home equity lines of credit, and land loans for personal residential use.
• Depositors and Savers: Individuals and families utilizing a variety of deposit accounts, such as checking accounts, money market accounts, and certificates of deposit, along with electronic banking services for their personal financial management needs.
• Individuals Seeking Secured Personal Loans: Customers who obtain loans secured by their deposit accounts (share loans) or other personal loans offered by the bank.

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Amie L. Lyons, President and Chief Executive Officer

Amie L. Lyons was appointed President and Chief Executive Officer of Fifth District Bancorp and Fifth District Savings Bank on a permanent basis on February 9, 2026, after serving in an interim capacity since June 2025. She has been an integral part of Fifth District for nearly 30 years, including several years in senior management. Prior to her appointment as President and CEO, she served as the Senior Vice President of Administration & Operations for Fifth District Savings Bank since 2019. She has also served as a Director of Fifth District Savings Bank since 2022.

Melissa C. Burns, Chief Financial Officer and Treasurer

Melissa C. Burns serves as the Chief Financial Officer and Treasurer of Fifth District Bancorp and as Vice President/Chief Financial Officer of Fifth District Savings Bank. She also holds the title of Principal Accounting Officer.

Dodie F. Gervais, Vice President of Lending

Dodie F. Gervais is the Vice President of Lending for Fifth District Savings Bank.

Brandi S. Roe, Vice President of Marketing, Corporate Secretary and Interim Information Security Officer

Brandi S. Roe serves as the Corporate Secretary and Vice President of Marketing for Fifth District Savings Bank, and also holds the position of Interim Information Security Officer.

Shane M. Smith, Vice President/Chief Credit Officer

Shane M. Smith is the Vice President/Chief Credit Officer for Fifth District Savings Bank.

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1. Interest Rate Risk

   Fifth District Bancorp's primary revenue source is interest income, predominantly earned from its loan portfolio, which primarily consists of fixed-rate one- to four-family residential mortgage loans. This structure makes the bank highly susceptible to interest rate fluctuations. A significant rise in market interest rates could lead to a decrease in the fair value of its existing fixed-rate assets and compress its net interest margin, as the cost of its deposits and other funding sources may increase more rapidly than the yields on its loan portfolio. The notable decline in net income from $2.9 million in 2022 to $797,000 in 2023 may reflect the impact of such interest rate changes.

2. Geographic and Loan Portfolio Concentration Risk

   The bank's operations, including loan originations and deposit gathering, are concentrated within the New Orleans-Metairie Metropolitan Statistical Area. This geographic concentration, coupled with a primary focus on fixed-rate one- to four-family residential mortgage loans, exposes Fifth District Bancorp to significant risks associated with adverse local economic conditions, downturns in the regional housing market, and potential natural disasters (such as hurricanes) common to the area. Such events could adversely affect property values, borrower employment, and ultimately the ability of its customers to repay their loans, thereby increasing credit risk and impacting the overall health of its loan portfolio and deposit base.

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The rise of digital-first banks and specialized financial technology (fintech) companies poses a clear emerging threat. These entities leverage technology to offer financial products such as mortgage loans and deposit accounts entirely online or via mobile applications, often with lower operating overhead and greater convenience for customers. This directly challenges Fifth District Bancorp's traditional branch-based model for loan originations and deposit gathering within its local market, similar to how Netflix disrupted Blockbuster's physical store model or Uber disrupted traditional taxi services.

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1. Expansion of Loan Product Offerings: Following its conversion to a stock-owned thrift, Fifth District Bancorp gained an influx of cash, enabling it to expand its product and service offerings. In 2024, the bank notably broadened its loan portfolio to include FHA and VA loans, as well as commercial loans. This diversification beyond its primary fixed-rate one-to-four-family residential mortgage loans is a direct driver of new revenue streams by tapping into a wider range of borrowers and market segments. The company's SEC filings also indicate an ability to originate commercial real estate and commercial and industrial loans.
2. Continued Growth in Core Residential Mortgage Lending: The company's strategy explicitly states an intent to "continue our focus on originating fixed-rate one- to four-family residential mortgage loans" after the conversion and stock offering. Sustained origination and retention of these loans, which form the primary component of its loan portfolio, will remain a fundamental driver of interest income.
3. Increased Deposit Gathering and Enhanced Electronic Banking Services: While not a direct revenue source, growth in deposits is crucial for funding loan growth and improving net interest income. Fifth District Bancorp offers a variety of deposit accounts and has been actively enhancing its electronic banking services, including mobile banking, online banking via FDSB Connected, bill pay, and real-time payments. These technological improvements and varied deposit offerings are designed to attract and retain customers, providing a stable and potentially lower-cost funding base for its lending activities.
4. Strategic Deployment of Capital from Public Offering: The completion of its initial public offering on July 31, 2024, resulted in an "influx of cash" for Fifth District Bancorp. This capital provides the flexibility to strategically invest in initiatives that foster revenue growth, such as further expanding loan origination capacity, enhancing technology infrastructure, or potentially exploring new market opportunities within its primary service area.

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