Financial Statement


Resource Bankshares, Inc. Financial Statement

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
12/31/2015 (unaudited)
Holding
Company Consolidated
12/31/2014 (unaudited)

ASSETS    
Cash & due from banks $7,358 $6,176
Interest bearing deposits in other banks 175 98
Fed Funds Sold 23,763 29,549
Investment & Equity in Resource Trust I & II 0 124
Investment securities: Available-for-sale, at fair market value 35,699 48,820
Other stocks, at cost 2,381 2,319
Loans, less allowances for loan losses 473,709 452,870
(12/31/15 Allowance for loan losses $ 3,427,044)    
(12/31/14 Allowance for loan losses $ 3,324,101)    
Bank premises & equipment, net of accumulated depreciation 16,234 16,537
Deferred Tax receivable 0 20
Accrued interest receivable 1,478 1,470
Prepaid Interest - -
Other Assets 751 464
Other real estate owned 1,296 1,449
TOTAL ASSETS $562,844 $557,896

LIABILITIES

   
Deposits    
Demand deposit accounts $107,184 $112,634
NOW accounts 208,867 193,960
Money market accounts 78,515 76,147
Saving accounts 19,646 18,275
Certificates of Deposits $100,000 & over 35,125 41,515
Other Certificates of Deposits  24,709 24,293
Total Deposits $474,046 $466,824
Accrued expenses and other liabilities 825 560
Deferred Tax Payable 390 132
Accrued Interest Payable 93 102
Cash Dividends Payable 0 0
Interest Payable on Debentures 0 3
Trust Preferred Securities Payable I 0 0
Trust Preferred Securities Payable II 0 4,124
Other borrowed funds 20,000 34,000
Total Liabilities $495,354 $505,745

STOCKHOLDERS' EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,564,380 and 1,364,892 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively. 
As of December 31, 2015, 1,564,380 issued with 0 shares held in Treasury Stock.
1,564 1,365
Preferred stock: $0.00 par value; 100,000 shares authorized; no shares issued or outstanding
- -
Stock Subscription Receivable (807) (826)
Capital surplus 26,189 16,669
Treasury Stock (0) (0)

Retained Earnings

33,903 28,975

Earnings year to date (* Bank Only $6,486,665 year to date)

6,370 5,660

Net unrealized gains (losses) on securities held

271 308
Total Stockholder's Equity 67,490 52,151

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$562,844 $557,896

Book value per Share-Undiluted $43.14 $38.21
Book value per Share Diluted $42.16 $37.41

Quarterly Return on Average Assets (ROA)
(*Bank Only as of December 31)

1.18% 0.97%

Quarterly Efficiency Ratio (*Bank Only as of December 31)

60.17% 64.56%

End of Year Return on Average Assets (ROA)
(*Bank Only as of December 31)

1.13% 1.03%

End of Year Efficiency Ratio (*Bank Only as of December 31)

62.74% 64.78%

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