Fifth District Bancorp Inc 2024年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YesNo Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and (2) has been subject to such filingrequirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262 (b)) by the registered public accounting firm that prepared orissued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation receivedby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price of the shares ofcommon stock at the end of the last business day of the most recently completed second fiscal quarter on June 30, 2024, was $-0-. The number of shares of the Registrant’s common stock outstanding as of March 21, 2025, was 5,559,473. DOCUMENTS INCORPORATED BY REFERENCE TABLE OF CONTENTS PART IItem 1.Business3Item 1A.Risk Factors27Item 1B. Unresolved Staff Comments27Item 1C. Cybersecurity27Item 2.Properties29Item 3.Legal Proceedings29Item 4.Mine Safety Disclosures29PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities30Item 6.[Reserved]30Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations30Item 7A.Quantitative and Qualitative Disclosures About Market Risk43Item 8.Financial Statements and Supplementary Data45Item 9.Changes In and Disagreements With Accountants on Accounting and Financial Disclosure82Item 9A.Controls and Procedures82Item 9B. Other Information83Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections83PART IIIItem 10. Directors, Executive Officers and Corporate Governance83Item 11. Executive Compensation86Item 12. Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters90Item 13. Certain Relationships and Related Transactions, and Director Independence91Item 14. Principal Accountant Fees and Services92PART IVItem 15. Exhibits and Financial Statement Schedules93Item 16. Form 10-K Summary94SIGNATURES95 Table of Contents PART I ITEM 1. Business Forward Looking Statements This annual report contains forward-looking statements, which can be identified by the use of words suchas “estimate,” “project,” “believe,” “intend,” “anticipate,” “assume,” “plan,” “seek,” “expect,” “will,” “may,”“should,” “indicate,” “would,” “believe,” “contemplate,” “continue,” “target” and words of similar meaning. Theseforward-looking statements include, but are not limited to: ●statements of our goals, intentions and expectations;●statements regarding our business plans, prospects, growth and operating strategies;●statements regarding the asset quality of our loan and investment portfolios; and●estimates of our risks and future costs and benefits. These forward-looking