Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 9/30/2024	Holding Company Consolidated 9/30/2023
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$12,483	$12,163
Interest bearing deposits in other banks	131	10
Fed Funds Sold	667	14,646
Investment securities: Available-for-sale, at fair market value	157,805	209,438
Held-to-maturity	4,874	4,855
Other stocks, at cost	4,092	2,431
Loans, less allowances for loan losses (9/30/2024 Allowance for loan losses $4,848,000) (6/30/2023 Allowance for loan losses $4,679,733)	756,711	727,838
Bank premises & equipment, net of accumulated depreciation	30,999	28,985
Deferred Tax Receivable	1,415	3,449
Accrued interest receivable	2,880	2,869
Other real estate owned	634	617
Other Assets	2,299	1,672
TOTAL ASSETS	$974,990	$1,008,973
LIABILITIES
Deposits
Demand Deposit Accounts	$190,279	$213,788
NOW Accounts	240,958	274,423
Money Market Accounts	47,903	50,745
Saving Accounts	32,491	35,448
Certificates of Deposits $250,000 & over	180,830	125,527
Other Certificates of Deposits	92,229	69,510
Total Deposits	784,690	769,441
Accrued expenses and other liabilities	4,930	4,323
Deferred Tax Payable	11	111
Accrued Interest Payable	2,709	3,727
Other borrowed funds	72,500	133,650
Total Liabilities	$864,840	$911,252
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,639,388 and 1,615,388 shares issued and outstanding at 09/30/2024 and 09/30/2023, respectively.	1,640	1,615
Stock Subscription Receivable	(1,936)	(1,665)
Capital surplus	23,238	21,918
Retained Earnings	87,034	82,888
Earnings year to date (* Bank Only $5,530,770, year to date)	5,496	5,941
Net unrealized gains (losses) on securities held	(5,322)	(12,976)
Total Stockholder's Equity	110,150	97,721
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$974,990	$1,008,973
Book value per Share-Undiluted	$67.73	$60.91
Book value per Share-Diluted	$67.57	$61.28
Quarterly Return on Average Assets (ROA) (*Bank Only as of September 30)	0.75%	0.80%
Quarterly Efficiency Ratio (*Bank Only as of September 30)	73.88%	70.81%
YTD Return on Average Assets (ROA) (*Bank Only as of September 30)	0.75%	0.81%
YTD Efficiency Ratio (*Bank Only as of September 30)	73.93%	71.23%
Tier 1 Capital Total Stockholder's Equity	$115,472	$110,697
Tier 1 Capital Book value per share-undiluted	$70.05	$69.00
Tier 1 Capital Book value per share-diluted	$69.68	$68.52

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.