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Financial Statement

Resource Bankshares, Inc. Financial Statement
Fourth Quarter 2013

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
12/31/2013(unaudited)
Holding
Company Consolidated
12/31/2012
(unaudited)

ASSETS    
Cash & due from banks $15,571 $15,846
Interest bearing deposits in other banks 108 108
Fed Funds Sold 32,819 28,786
Investment & Equity in Resource Trust I & II 217 217
Investment securities available-for-sale, at fair market value 49,800 40,681
Other stocks, at cost 1,505 1,445
Loans, less allowances for loan losses 394,560 372,088
(2013 Allowance for loan losses $ 3,036,525)    
(2012 Allowance for loan losses $ 2,909,437)    
Bank premises & equipment, net of accumulated depreciation 11,530 10,360
Deferred Tax receivable 267 85
Accrued interest receivable 1,411 1,406
Prepaid Interest - -
Other Assets 418 384
Other real estate owned 1,092 2,641
TOTAL ASSETS $509,298 $474,047

CURRENT LIABILITIES

   
Deposits    
Demand deposit accounts $90,195 $75,121
NOW accounts 171,311 178,855
Money market accounts 92,510 69,217
Saving accounts 16,643 13,208
Certificates of Deposits $100,000 & over 42,769 40,530
Other Certificates of Deposits  27,478 33,326
Total Deposits $440,906 $410,257
Accrued expenses and other liabilities 840 1,628
Deferred Tax Payable - -
Accrued Interest Payable 112 130
Interest Payable on Debentures 24 24
Trust Preferred Securities Payable I 3,093 3,093
Trust Preferred Securities Payable II 4,124 4,124
Other borrowed funds 14,000 13,000
Total Liabilities $463,099 $432,256

STOCKHOLDERS’ EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,343,126 and 1,331,688 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively. 
As of December 31, 2013, 1,347,023 issued with 3,897 shares held in Treasury Stock.
1,347 1,337
Preferred stock: $1.00 par value; 100,000 shares authorized; no shares issued or outstanding
- -
Less: Stock Subscription Receivable (826) (826)
Capital surplus 16,186 15,966
Treasury Stock (136) (182)

Retained Earnings

24,458 20,402

Earnings year to date (* Bank Only $5,233,471 year to date)

5,190 4,490

Net unrealized holding gains (losses) on securities

(20) 604
Total Equity Capital 46,199 41,791

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$509,298 $474,047

Stockholder’s Equity (Book value per share-undiluted) 34.40 31.38
Stockholder’s Equity (Book value per share diluted) 33.79 30.97

Quarterly Return on Average Assets (ROA)
(*Bank Only as of 12/31/13)

0.94% 1.03%

Quarterly Efficiency Ratio (*Bank Only as of 12/31/13)

63.40% 62.93%
End of year Return on Average Assets (ROA) (*Bank Only as of 12/31/13) 1.07% 1.02%
End of year Efficiency Ratio (*Bank Only as of 12/31/13) 63.40% 65.24%
     

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