Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 6/30/2023	Holding Company Consolidated 6/30/2022
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$18,920	$13,337
Interest bearing deposits in other banks	1	106
Fed Funds Sold	5,095	24,413
Investment securities: Available-for-sale, at fair market value	217,438	257,106
Held-to-maturity	4,851	4,832
Other stocks, at cost	1,236	2,140
Loans, less allowances for loan losses (6/30/2023 Allowance for loan losses $4,631,894) (6/30/2022 Allowance for loan losses $4,386,626)	713,883	646,035
Bank premises & equipment, net of accumulated depreciation	28,082	23,813
Deferred Tax Receivable	3,312	2,851
Accrued interest receivable	2,630	2,133
Other real estate owned	604	991
Other Assets	1,711	987
TOTAL ASSETS	$997,763	$978,744
LIABILITIES
Deposits
Demand Deposit Accounts	$222,044	$248,427
NOW Accounts	290,459	396,342
Money Market Accounts	50,500	111,175
Saving Accounts	37,566	41,345
Certificates of Deposits $250,000 & over	130,251	45,622
Other Certificates of Deposits	64,984	20,815
Total Deposits	795,804	863,726
Accrued expenses and other liabilities	3,403	2,882
Deferred Tax Payable	128	215
Accrued Interest Payable	2,639	80
Other borrowed funds	98,800	20,000
Total Liabilities	$900,774	$886,903
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,610,401 and 1,589,285 shares issued and outstanding at 6/30/2023 and 6/30/2022, respectively.	1,610	1,589
Stock Subscription Receivable	(1,665)	(1,501)
Capital surplus	21,580	20,738
Retained Earnings	83,776	76,611
Earnings year to date (* Bank Only $4,171,194, year to date)	4,148	5,130
Net unrealized gains (losses) on securities held	(12,460)	(10,726)
Total Stockholder's Equity	96,989	91,841
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$997,763	$978,744
Book value per Share-Undiluted	$60.62	$57.79
Book value per Share-Diluted	$61.04	$58.42
Quarterly Return on Average Assets (ROA) (*Bank Only as of June 30)	0.80%	1.05%
Quarterly Efficiency Ratio (*Bank Only as of June 30)	68.33%	64.41%
YTD Return on Average Assets (ROA) (*Bank Only as of June 30)	0.86%	1.06%
YTD Efficiency Ratio (*Bank Only as of June 30)	70.57%	64.33%
Tier 1 Capital Total Stockholder's Equity	$109,449	$102,567
Tier 1 Capital Book value per share-undiluted	$68.41	$64.54
Tier 1 Capital Book value per share-diluted	$67.99	$64.34

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.