Financial Statement


Resource Bankshares, Inc. Financial Statement

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
03/31/2018 (unaudited)
Holding
Company Consolidated
03/31/2017 (unaudited)

ASSETS    
Cash & due from banks $8,749 $9,044
Interest bearing deposits in other banks 0 106
Fed Funds Sold 23,699 30,048
Investment securities: Available-for-sale, at fair market value 43,752 37,986
Other stocks, at cost 4,105 2,527
Loans, less allowances for loan losses 598,950 533,386
(03/31/18 Allowance for loan losses $ 3,958,547)    
(03/31/17 Allowance for loan losses $ 3,689,472)    
Bank premises & equipment, net of accumulated depreciation 19,449 17,496
Deferred Tax receivable 146 0
Accrued interest receivable 1,762 1,535
Other real estate owned 1,124 1,178
Other Assets 805 795
TOTAL ASSETS $702,541 $634,101

LIABILITIES

   
Deposits    
Demand deposit accounts $137,252 $122,551
NOW accounts 251,612 237,410
Money market accounts 90,852 92,412
Saving accounts 22,993 22,571
Certificates of Deposits $100,000 & over 41,600 35,295
Other Certificates of Deposits  22,765 22,164
Total Deposits $567,074 $532,408
Accrued expenses and other liabilities 1,687 2,112
Deferred Tax Payable 186 129/td>
Accrued Interest Payable 149 101
Other borrowed funds 53,000 25,000
Total Liabilities $622,096 $559,750

STOCKHOLDERS' EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,615,305 and 1,597,524 shares issued and outstanding at 03/31/18 and 03/31/17, respectively. As of 03/31/18, a total of 1,618,497 shares issued, however 3,192 are treasury stock. 
1,619 1,598
Preferred stock: $0.00 par value; 100,000 shares authorized; no shares issued or outstanding
0
Stock Subscription Receivable (959) (858)
Capital surplus 27,713 27,059
Treasury Stock (180) 0

Retained Earnings

50,360 44,633

Earnings year to date (* Bank Only $2,448,342 year to date)

2,443 1,904

Net unrealized gains (losses) on securities held

(551) 15
Total Stockholder's Equity 80,445 74,351

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$702,541 $634,101

Book value per Share-Undiluted $49.80 $46.54
Book value per Share Diluted $48.91 $45.64

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

1.44% 1.24%

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

64.92% 65.15%

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