Fifth District Bancorp Inc 2025年度报告

OR Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file reports), and (2)has beensubject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was requiredto submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☒ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section13(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 itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262 (b)) by the registered publicaccounting firm that prepared or issued 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 registrantincluded in the filing 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-basedcompensation received by 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 Rule12b-2 of the Exchange Act). Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price ofthe shares of common stock at the end of the last business day of the most recently completed second fiscal quarter on June 30, 2025, was$58,211,478. The number of shares of the Registrant’s common stock outstanding as of March 24, 2026, was 5,293,801. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement for the 2026 Annual Meeting of Stockholders are incorporated by reference in Part IIIof the Form 10-K. TABLE OF CONTENTS PARTIItem1. Business3Item1A.Risk Factors27Item1B.Unresolved Staff Comments27Item1C.Cybersecurity27Item2.Properties29Item3.Legal Proceedings29Item 4.Mine Safety Disclosures29 PARTIIItem5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities30Item6.[Reserved]30Item7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations30Item7A.Quantitative and Qualitative Disclosures About Market Risk42Item8.Financial Statements and Supplementary Data45Item 9.Changes In and Disagreements With Accountants on Accounting and FinancialDisclosure86Item9A.Controls and Procedures86Item9B.Other Information86Item9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections87 PARTIIIItem10.Directors, Executive Officers and Corporate Governance87Item11.Executive Compensation87Item12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters88Item13.Certain Relationships and Related Transactions, and Director Independence88Item14.Principal Accountant Fees and Services88 PARTIVItem15.Exhibits and Financial Statement Schedules89Item16.Form 10-K Summary90SIGNATURES91 PART I ITEM 1. Business Forward Looking Statements This annual report contains forward-looking statements, which can be identified by the use ofwords such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “assume,” “plan,” “seek,” “expect,”“will,” “may,” “should,” “indicate,” “would,” “believe,” “contemplate,” “continue,” “target” and words ofsimilar meaning. These forward-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