Filing Analysis
Fifth District Bancorp, Inc. appointed Donna T. Guerra to the Board of Directors of both the holding company and its bank subsidiary on June 8, 2026.
📋 Key Facts
- Donna T. Guerra appointed to the Board of Directors with a term expiring in 2027.
- Ms. Guerra is a CPA and Chartered Global Management Accountant (CGMA).
- Previous experience includes serving as COO and CFO at Hibernia Bancorp, Inc. and Hibernia Bank for 13 years.
- Current professional role is Director of Terminal Services at Canal Terminal Company (a Canal Barge Company affiliate).
Fifth District Bancorp, Inc. reported the voting results from its Annual Meeting of Stockholders held on May 18, 2026. Stockholders elected two directors to three-year terms and ratified the appointment of EisnerAmper LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
📋 Key Facts
- The Annual Meeting of Stockholders was held on May 18, 2026.
- Amie L. Lyons was elected as a director with 2,960,076 votes 'For' and 53,103 votes 'Withheld'.
- David C. Nolan was elected as a director with 2,481,863 votes 'For' and 531,316 votes 'Withheld'.
- The appointment of EisnerAmper LLP as the independent registered public accounting firm for 2026 was ratified with 3,974,362 votes 'For', 58,122 votes 'Against', and 22,531 'Abstentions'.
Fifth District Bancorp, Inc. has announced the permanent promotion of Amie L. Lyons to President and Chief Executive Officer of both the Company and its subsidiary, Fifth District Savings Bank.
📋 Key Facts
- Amie L. Lyons promoted to President and CEO on a permanent basis effective February 9, 2026.
- Ms. Lyons had been serving in an interim capacity since June 4, 2025.
- The appointment follows the passing of the previous President and CEO.
Fifth District Bancorp, Inc. held its Annual Meeting of Stockholders on September 15, 2025. The filing reports the results of shareholder votes regarding director elections, an equity incentive plan, and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting of Stockholders held on September 15, 2025.
- Nolan P. Lambert was elected to the Board of Directors (3,258,750 votes in favor).
- Linda A. Sins was elected to the Board of Directors (3,258,609 votes in favor).
- The 2025 Equity Incentive Plan was approved by shareholders.
- EisnerAmper LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
Fifth District Bancorp, Inc. has authorized a share repurchase program for up to 555,947 shares of its common stock. This represents approximately 10% of the company's currently outstanding shares.
📋 Key Facts
- Authorization of a share repurchase program on August 25, 2025.
- Total shares to be repurchased: up to 555,947 shares.
- Repurchase volume represents approximately 10% of currently outstanding common stock.
Fifth District Bancorp, Inc. announced an amendment to the executive salary continuation agreement for its CFO, Melissa Burns. The amendment increases her annual supplemental retirement benefit from $80,316 to $94,000.
🚩 Red Flags
- Increased executive compensation/benefits for a key officer (CFO) during the reporting period.
📋 Key Facts
- Amendment to Second Amended and Restated Executive Salary Continuation Agreement for CFO Melissa Burns dated July 14, 2025.
- The agreement provides supplemental retirement benefits if separation occurs on or after age 65.
- Annual benefit increased from $80,316 to $94,000.
Fifth District Bancorp, Inc. announced the sudden passing of President and CEO Brian W. North on June 2, 2025. Amie L. Lyons has been appointed as interim CEO while the Board conducts a search for a permanent successor.
🚩 Red Flags
- Sudden death of the Chief Executive Officer creates immediate leadership instability.
- Loss of key personnel (CEO) who also held a seat on the Board of Directors.
📋 Key Facts
- Brian W. North (President, CEO, and Director) passed away suddenly on June 2, 2025.
- Amie L. Lyons appointed as interim President and CEO effective June 3, 2025.
- Ms. Lyons previously served as Senior Vice President of Administration and Operations since 2019.
- The Board is conducting an executive search for a permanent CEO both internally and externally.
Fifth District Bancorp, Inc. has dismissed its independent auditor, Elliott Davis, LLC, and appointed EisnerAmper LLP as its new independent registered public accounting firm effective March 31, 2025.
🚩 Red Flags
- Auditor change in a micro-cap company can sometimes precede financial restatements or internal control issues, though the company explicitly denies any disagreements.
📋 Key Facts
- Dismissed Elliott Davis, LLC on March 31, 2025.
- Engaged EisnerAmper LLP to serve as the new independent auditor for the fiscal year ending December 31, 2025.
- The company stated there were no disagreements with Elliott Davis regarding accounting principles, financial statement disclosures, or auditing procedures.
- Previous audit reports (FY 2023 and FY 2024) did not contain adverse opinions, disclaimers of opinion, or qualifications.
Fifth District Bancorp, Inc. announced the completion of its initial public offering (IPO) following a mutual-to-stock conversion. The company's common stock is scheduled to begin trading on the Nasdaq Capital Market under the ticker 'FDSB' starting August 1, 2024.
📋 Key Facts
- Completion of IPO related to the Bank's conversion from mutual to stock form of organization.
- Effective date of conversion: July 31, 2024.
- Listing exchange: Nasdaq Capital Market.
- Ticker symbol: FDSB.
- Trading commencement expected on August 1, 2024.
Fifth District Bancorp, Inc. announced that its conversion from a mutual to a stock form of organization and its related initial public offering (IPO) is expected to close on July 31, 2024. The company's common stock is scheduled to begin trading on the Nasdaq Capital Market under the ticker 'FDSB' on August 1, 2024.
📋 Key Facts
- Conversion from mutual form of organization to stock form expected to close July 31, 2024.
- Initial Public Offering (IPO) related to the conversion is expected to close July 31, 2024.
- Common stock trading on Nasdaq Capital Market starting August 1, 2024.
- Trading symbol: FDSB.
Fifth District Bancorp, Inc. entered into an Agency Agreement with Performance Trust Capital Partners, LLC to assist in marketing common stock during a proposed conversion from a mutual savings bank to a stock savings bank.
🚩 Red Flags
- High variable costs associated with the conversion process, specifically the 5.0% fee for institutional investors and 5.0% for syndicated community offerings.
- Potential dilution of existing equity as part of the mutual-to-stock conversion process.
📋 Key Facts
- Agreement date: May 10, 2024
- Purpose: Marketing common stock for the Bank's conversion from mutual to stock savings bank status.
- Success fee (Subscription offering): 0.95% of aggregate purchase price (excluding employee/insider purchases).
- Success fee (Community offering): 1.50% of aggregate purchase price (excluding employee/insider purchases).
- Success fee (Institutional accredited investors via Performance Trust): 5.00%.
- Syndicated community offering fee: 5.0% of aggregate dollar amount.
- Management fee: $30,000 (credited against success fee at closing).
- Reimbursements: Legal/expenses up to $100k/$60k; Records agent expenses up to $30k.