Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 12/31/2024	Holding Company Consolidated 12/31/2023
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$8,472	$11,486
Interest bearing deposits in other banks	155	4
Fed Funds Sold	759	3,604
Investment securities: Available-for-sale, at fair market value	131,426	182,381
Held-to-maturity	4,879	4,860
Other stocks, at cost	4,316	2,729
Loans, less allowances for loan losses (12/31/2024 Allowance for loan losses $4,901,000) (12/31/2023 Allowance for loan losses $4,789,000)	766,130	744,133
Bank premises & equipment, net of accumulated depreciation	30,657	30,042
Deferred Tax Receivable	1,591	2,426
Accrued interest receivable	2,922	3,008
Other real estate owned	614	619
Other Assets	5,566	1,629
TOTAL ASSETS	$957,487	$986,921
LIABILITIES
Deposits
Demand Deposit Accounts	$186,268	$196,377
NOW Accounts	244,740	261,862
Money Market Accounts	49,772	48,281
Saving Accounts	31,630	32,802
Certificates of Deposits $250,000 & over	185,136	130,906
Other Certificates of Deposits	91,273	75,470
Total Deposits	788,819	745,698
Accrued expenses and other liabilities	2,406	2,142
Deferred Tax Payable	1	93
Accrued Interest Payable	3,180	5,540
Other borrowed funds	53,000	130,900
Total Liabilities	$847,406	$884,373
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,639,370 and 1,616,867 shares issued and outstanding at 12/31/2024 and 12/31/2023, respectively.	1,639	1,617
Stock Subscription Receivable	(2,180)	(1,665)
Capital surplus	22,785	21,999
Retained Earnings	86,133	81,999
Earnings year to date (* Bank Only $7,746,011, year to date)	7,689	7,724
Net unrealized gains (losses) on securities held	(5,985)	(9,126)
Total Stockholder's Equity	110,081	102,548
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$957,487	$986,921
Book value per Share-Undiluted	$67.56	$63.80
Book value per Share-Diluted	$67.53	$63.87
Quarterly Return on Average Assets (ROA) (*Bank Only as of December 31)	0.79%	0.77%
Quarterly Efficiency Ratio (*Bank Only as of December 31)	73.24%	71.40%
YTD Return on Average Assets (ROA) (*Bank Only as of December 31)	0.78%	0.79%
YTD Efficiency Ratio (*Bank Only as of December 31 )	72.28%	71.18%
Tier 1 Capital Total Stockholder's Equity	$116,066	$111,674
Tier 1 Capital Book value per share-undiluted	$71.24	$69.48
Tier 1 Capital Book value per share-diluted	$70.89	$68.97

Management has elected to omit substantially all of the disclosures and the related statements of income, cash flow and changes in equity required by the generally accepted accounting principles as issued by the U. S. Financial Accounting Standards Board. If the omitted disclosures and the statements of cash flows and changes in equity were included in the financial statements, they might influence the user's conclusions about the company's financial position, results of operations, and cash flows. Accordingly, the financial statements are not designed for those who are not informed about such matters.