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Financial Statement

Resource Bankshares, Inc. Financial Statement
Fourth Quarter 2014

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
12/31/2014(unaudited)
Holding
Company Consolidated
12/31/2013
(unaudited)

ASSETS    
Cash & due from banks $6,176 $15,571
Interest bearing deposits in other banks 98 108
Fed Funds Sold 29,549 32,819
Investment & Equity in Resource Trust I & II 124 217
Investment securities available-for-sale, at fair market value 46,820 49,800
Other stocks, at cost 2,319 1,505
Loans, less allowances for loan losses 452,870 394,560
(12/31/14 Allowance for loan losses $ 3,324,101)    
(12/31/13 Allowance for loan losses $ 3,036,525)    
Bank premises & equipment, net of accumulated depreciation 16,537 11,530
Deferred Tax receivable 20 267
Accrued interest receivable 1,470 1,411
Prepaid Interest - -
Other Assets 464 418
Other real estate owned 1,449 1,092
TOTAL ASSETS $557,896 $509,298

LIABILITIES

   
Deposits    
Demand deposit accounts $112,634 $90,195
NOW accounts 193,960 171,311
Money market accounts 76,147 92,510
Saving accounts 18,275 16,643
Certificates of Deposits $100,000 & over 41,515 42,769
Other Certificates of Deposits  24,293 27,478
Total Deposits $466,824 $440,906
Accrued expenses and other liabilities 560 840
Deferred Tax Payable 132 0
Accrued Interest Payable 102 112
Cash Dividends Payable 0 0
Interest Payable on Debentures 3 24
Trust Preferred Securities Payable I 0 3,093
Trust Preferred Securities Payable II 4,124 4,124
Other borrowed funds 34,000 14,000
Total Liabilities $505,745 $463,099

STOCKHOLDERS’ EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,364,892 and 1,343,126 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively. 
As of December 31, 2014, 1,364,892 issued with 0 shares held in Treasury Stock.
1,365 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 16,669 16,186
Treasury Stock (0) (136)

Retained Earnings

28,975 24,458

Earnings year to date (* Bank Only $5,466,181 year to date)

5,660 5,190

Net unrealized holding gains (losses) on securities

308 (20)
Total Equity Capital 52,151 46,199

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$557,896 $509,298

Stockholder’s Equity (Book value per share-undiluted) $38.21 $34.40
Stockholder’s Equity (Book value per share diluted) $37.41 $33.79

Quarterly Return on Average Assets (ROA)
(*Bank Only as of 12/31/14)

.97% .94%

Quarterly Efficiency Ratio (*Bank Only as of 12/31/14)

64.56% 66.40%
End of Year Return on Average Assets (ROA) (*Bank Only as of 12/31/14) 1.03% 1.07%
End of Year Efficiency Ratio (*Bank Only as of 12/31/14) 64.78% 63.40%

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