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Financial Statement

Resource Bankshares, Inc. Financial Statement
Third Quarter 2014

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
9/30/2014(unaudited)
Holding
Company Consolidated
9/30/2013
(unaudited)

ASSETS    
Cash & due from banks $18,179 $17,384
Interest bearing deposits in other banks 51 45
Fed Funds Sold 23,736 46,087
Investment & Equity in Resource Trust I & II 217 217
Investment securities available-for-sale, at fair market value 51,616 46,917
Other stocks, at cost 1,909 1,504
Loans, less allowances for loan losses 425,902 380,319
(9/30/14 Allowance for loan losses $ 3,101,898)    
(9/30/13 Allowance for loan losses $ 3,005,644)    
Bank premises & equipment, net of accumulated depreciation 16,023 10,516
Deferred Tax receivable   221
Accrued interest receivable 1,375 1,277
Prepaid Interest - -
Other Assets 405 392
Other real estate owned 2,308 1,917
TOTAL ASSETS $541,721 $506,796

LIABILITIES

   
Deposits    
Demand deposit accounts $100,803 $89,027
NOW accounts 193,183 168,186
Money market accounts 79,046 95,013
Saving accounts 17,844 16,461
Certificates of Deposits $100,000 & over 42,621 41,740
Other Certificates of Deposits  24,924 28,026
Total Deposits $458,421 $438,453
Accrued expenses and other liabilities 1,902 1,903
Deferred Tax Payable 110 0
Accrued Interest Payable 107 113
Cash Dividends Payable 0 0
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 24,000 14,000
Total Liabilities $491,781 $461,710

STOCKHOLDERS’ EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,344,871 and 1,343,126 shares issued and outstanding at September 30, 2014 and September 30, 2013, respectively. 
As of September 30, 2014, 1,348,768 issued with 3,897 shares held in Treasury Stock.
1,349 1,347
Preferred stock: $1.00 par value; 100,000 shares authorized; no shares issued or outstanding
- -
Less: Stock Subscription Receivable (826) (826)
Capital surplus 16,233 16,186
Treasury Stock (136) (136)

Retained Earnings

28,975 24,458

Earnings year to date (* Bank Only $4,146,661 year to date)

4,042 4,000

Net unrealized holding gains (losses) on securities

303 57
Total Equity Capital 49,940 45,086

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$541,721 $506,796

Stockholder’s Equity (Book value per share-undiluted) $37.13 $33.57
Stockholder’s Equity (Book value per share diluted) $36.34 $33.05

Quarterly Return on Average Assets (ROA)
(*Bank Only as of 9/30/14)

.98% .94%

Quarterly Efficiency Ratio (*Bank Only as of 9/30/14)

65.07% 66.39%
     

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