Resource Bankshares, Inc. Financial Statement  STATEMENT OF FINANCIAL CONDITION
(in thousands)
Holding Company Consolidated
12/31/2022
Holding Company Consolidated
12/31/2021
ASSETS (unaudited)  (unaudited) 
Cash & due from banks $9,898 $8,168
Interest bearing deposits in other banks 72 133
Fed Funds Sold 2,342 118,359
Investment securities: Available-for-sale, at fair market value 242,637 196,095
Held-to-maturity 4,842 4,823
Other stocks, at cost 3,974 2,135
Loans, less allowances for loan losses
(12/31/2022 Allowance for loan losses $4,485,484)
(12/30/2021 Allowance for loan losses $4,204,709)
658,587 636,837
Bank premises & equipment, net of accumulated depreciation 24,467 23,706
Deferred Tax Receivable 3,612 179
Accrued interest receivable 2,633 2,197
Other real estate owned 881 1,174
Other Assets 1,079 983
TOTAL ASSETS $955,024 $994,789
LIABILITIES  
Deposits  
Demand Deposit Accounts $222,905 $236,800
NOW Accounts 347,016 398,448
Money Market Accounts 98,030 108,145
Saving Accounts 41,087 38,183
Certificates of Deposits $250,000 & over 41,549 72,014
Other Certificates of Deposits 38,279 22,114
Total Deposits 778,866 875,704
Accrued expenses and other liabilities 1,714 1,110
Deferred Tax Payable 215 280
Accrued Interest Payable 130 125
Other borrowed funds 71,250 20,000
Total Liabilities $862,175 $867,219
STOCKHOLDERS' EQUITY  
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,593,583 and 1,564,031 shares issued and outstanding at 12/31/2022 and 12/31/2021, respectively. 1,594 1,564
Stock Subscription Receivable (1,501) (1,359)
Capital surplus 20,949 19,844
Retained Earnings 75,018 68,959
Earnings year to date (* Bank Only $10,428,494, year to date) 10,377 9,235
Net unrealized gains (losses) on securities held (13,588) 673
Total Stockholder's Equity 92,849 97,570
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $955,024 $994,789
Book value per Share-Undiluted $58.59 $62.38
Book value per Share-Diluted $59.14 $62.13
Quarterly Return on Average Assets (ROA) (*Bank Only as of December 31) 1.09% 0.97%
Quarterly Efficiency Ratio (*Bank Only as of December 31) 63.70% 62.34%
YTD Return on Average Assets (ROA) (*Bank Only as of December 31) 1.07% 0.96%
YTD Efficiency Ratio (*Bank Only as of December 31) 63.70% 66.09%
Tier 1 Capital Total Stockholder's Equity $106,437 $98,243
Tier 1 Capital Book value per share-undiluted $67.17 $61.48
Tier 1 Capital Book value per share-diluted $66.68 $61.36

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.

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