Financial Statement


Resource Bankshares, Inc. Financial Statement

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
6/30/2020 (unaudited)
Holding
Company Consolidated
6/30/2019 (unaudited)

ASSETS    
Cash & due from banks $14,745 $19,667
Interest bearing deposits in other banks 160 156
Fed Funds Sold 135,592 38,099
Investment securities: Available-for-sale, at fair market value 55,254 44,566
Other stocks, at cost 2,120 4,719
Loans, less allowances for loan losses 661,589 631,526
(6/30/20 Allowance for loan losses $4,457,189)    
(6/30/19 Allowance for loan losses $4,163,434)    
Bank premises & equipment, net of accumulated depreciation 21,297 20,922
Accrued interest receivable 2,069 1,986
Other real estate owned 1,662 988
Other Assets 1,089 1,242
TOTAL ASSETS $895,577 $763,871

LIABILITIES

   
Deposits    
Demand Deposit Accounts 207,082 162,544
NOW Accounts 311,337 258,655
Money Market Accounts 103,914 85,789
Saving Accounts 27,939 22,226
Certificates of Deposits $100,000 & over 98,898 85,421
Other Certificates of Deposits  25,441 20,963
Total Deposits 774,611 635,598
Accrued expenses and other liabilities 3,521 2,343
Deferred Tax Payable 523 260
Accrued Interest Payable 440 445
Other borrowed funds 20,000 36,000
Total Liabilities $799,095 $674,646

STOCKHOLDERS' EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized;
  1,618,243 and 1,610,348 shares issued and outstanding at 06/30/2020 and 06/30/2019, respectively.
1,618 1,610
Preferred stock: $0.00 par value; 100,000 shares authorized; no shares issued or outstanding
0
Stock Subscription Receivable (1,236) (1,137)
Capital surplus 26,042 26,127

Retained Earnings

63,882 57,255

Earnings year to date (* Bank Only $4,950,030, year to date)

4,927 4,779

Net unrealized gains (losses) on securities held

1,249 591
Total Stockholder's Equity 96,482 89,225

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$895,577 $763,871

Book value per Share-Undiluted $59.62 $55.41
Book value per Share-Diluted $59.16 $54.83

Quarterly Return on Average Assets (ROA)
(*Bank Only as of June 30)

1.19% 1.24%

Quarterly Efficiency Ratio (*Bank Only as of June 30)

63.48% 65.00%

YTD Return on Average Assets (ROA)
(*Bank Only as of June 30)

1.24% 1.30%

YTD Efficiency Ratio (*Bank Only as of June 30)

64.31% 64.21%

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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