Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 9/30/2023	Holding Company Consolidated 9/30/2022
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$12,163	$13,324
Interest bearing deposits in other banks	10	14
Fed Funds Sold	14,646	2,556
Investment securities: Available-for-sale, at fair market value	209,438	244,503
Held-to-maturity	4,855	4,837
Other stocks, at cost	2,431	2,816
Loans, less allowances for loan losses (9/30/2023 Allowance for loan losses $4,679,733) (9/30/2022 Allowance for loan losses $4,504,847)	727,838	653,336
Bank premises & equipment, net of accumulated depreciation	28,985	23,828
Deferred Tax Receivable	3,449	4,219
Accrued interest receivable	2,869	2,124
Other real estate owned	617	674
Other Assets	1,672	1,005
TOTAL ASSETS	$1,008,973	$953,236
LIABILITIES
Deposits
Demand Deposit Accounts	$213,788	$246,196
NOW Accounts	274,423	361,005
Money Market Accounts	50,745	106,385
Saving Accounts	35,448	42,332
Certificates of Deposits $250,000 & over	125,527	26,087
Other Certificates of Deposits	69,510	39,186
Total Deposits	769,441	821,191
Accrued expenses and other liabilities	4,323	4,099
Deferred Tax Payable	111	214
Accrued Interest Payable	3,727	85
Other borrowed funds	133,650	39,000
Total Liabilities	$911,252	$864,589
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,615,388 and 1,591,619 shares issued and outstanding at 9/30/2023 and 9/30/2022, respectively.	1,615	1,591
Stock Subscription Receivable	(1,665)	(1,501)
Capital surplus	21,918	20,868
Retained Earnings	82,888	75,815
Earnings year to date (* Bank Only $5,977,497, year to date)	5,941	7,746
Net unrealized gains (losses) on securities held	(12,976)	(15,872)
Total Stockholder's Equity	97,721	88,647
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$1,008,973	$953,236
Book value per Share-Undiluted	$60.91	$56.03
Book value per Share-Diluted	$61.28	$56.87
Quarterly Return on Average Assets (ROA) (*Bank Only as of September 30)	0.80%	1.08%
Quarterly Efficiency Ratio (*Bank Only as of September 30)	70.81%	64.18%
YTD Return on Average Assets (ROA) (*Bank Only as of September 30)	0.81%	1.07%
YTD Efficiency Ratio (*Bank Only as of September 30)	71.23%	63.98%
Tier 1 Capital Total Stockholder's Equity	$110,697	$104,519
Tier 1 Capital Book value per share-undiluted	$69.00	$66.06
Tier 1 Capital Book value per share-diluted	$68.52	$65.68

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.