Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 3/31/2024	Holding Company Consolidated 3/31/2023
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$11,455	$12,716
Interest bearing deposits in other banks	14	2
Fed Funds Sold	23,588	18,344
Investment securities: Available-for-sale, at fair market value	169,858	229,206
Held-to-maturity	4,865	4,846
Other stocks, at cost	2,757	1,182
Loans, less allowances for loan losses (3/31/2024 Allowance for loan losses $4,807,000) (3/31/2023 Allowance for loan losses $4,445,351)	750,428	680,218
Bank premises & equipment, net of accumulated depreciation	30,580	25,998
Deferred Tax Receivable	2,399	3,026
Accrued interest receivable	8,022	2,470
Other real estate owned	634	674
Other Assets	1,692	1,286
TOTAL ASSETS	$1,006,292	$979,968
LIABILITIES
Deposits
Demand Deposit Accounts	$195,281	$220,789
NOW Accounts	246,754	298,915
Money Market Accounts	52,187	62,527
Saving Accounts	31,174	35,071
Certificates of Deposits $250,000 & over	150,657	120,679
Other Certificates of Deposits	76,901	57,581
Total Deposits	752,954	795,562
Accrued expenses and other liabilities	2,964	2,349
Deferred Tax Payable	1	110
Accrued Interest Payable	3,433	847
Other borrowed funds	142,900	84,500
Total Liabilities	$902,252	$883,368
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,620,320 and 1,599,456 shares issued and outstanding at 03/31/2024 and 03/31/2023, respectively.	1,620	1,599
Stock Subscription Receivable	(1,665)	(1,501)
Capital surplus	22,153	21,176
Retained Earnings	88,832	84,662
Earnings year to date (* Bank Only $2,095,422, year to date)	2,086	2,192
Net unrealized gains (losses) on securities held	(8,986)	(11,528)
Total Stockholder's Equity	104,040	96,600
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$1,006,292	$979,968
Book value per Share-Undiluted	$64.28	$60.54
Book value per Share-Diluted	$64.33	$60.91
Quarterly Return on Average Assets (ROA) (*Bank Only as of March 31)	0.84%	0.91%
Quarterly Efficiency Ratio (*Bank Only as of March 31)	73.24%	72.56%
YTD Return on Average Assets (ROA) (*Bank Only as of March 31)	0.84%	0.91%
YTD Efficiency Ratio (*Bank Only as of March 31)	73.24%	72.56%
Tier 1 Capital Total Stockholder's Equity	$113,026	$108,128
Tier 1 Capital Book value per share-undiluted	$69.83	$67.76
Tier 1 Capital Book value per share-diluted	$69.33	$67.28

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.