Financial Statement


Resource Bankshares, Inc. Financial Statement

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
06/30/2018 (unaudited)
Holding
Company Consolidated
06/30/2017 (unaudited)

ASSETS    
Cash & due from banks $13,835 $10,627
Interest bearing deposits in other banks 63 76
Fed Funds Sold 29,034 31,179
Investment securities: Available-for-sale, at fair market value 42,656 39,741
Other stocks, at cost 4,124 2,949
Loans, less allowances for loan losses 620,179 558,299
(06/30/18 Allowance for loan losses $ 4,067,725)    
(06/30/17 Allowance for loan losses $ 3,769,421)    
Bank premises & equipment, net of accumulated depreciation 20,675 18,505
Deferred Tax receivable 148 0
Accrued interest receivable 1,874 1,611
Other real estate owned 1,043 1,178
Other Assets 791 794
TOTAL ASSETS $734,422 $664,959

LIABILITIES

   
Deposits    
Demand deposit accounts $143,614 $129,823
NOW accounts 253,222 237,838
Money market accounts 97,406 88,789
Saving accounts 24,897 24,934
Certificates of Deposits $100,000 & over 43,085 37,771
Other Certificates of Deposits  22,409 22,511
Total Deposits $584,633 $541,666
Accrued expenses and other liabilities 2,287 2,074
Deferred Tax Payable 186 225
Accrued Interest Payable 185 105
Other borrowed funds 65,000 45,000
Total Liabilities $652,291 $589,070

STOCKHOLDERS' EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,622,608 and 1,603,840 shares issued and outstanding at 06/30/18 and 06/30/17, respectively. As of 06/30/18, a total of 1,627,311 shares issued, however 4,703 are treasury stock. 
1,627 1,606
Preferred stock: $0.00 par value; 100,000 shares authorized; no shares issued or outstanding
0
Stock Subscription Receivable (1,036) (959)
Capital surplus 27,947 27,297
Treasury Stock (283) (123)

Retained Earnings

49,954 44,232

Earnings year to date (* Bank Only $4,498,647 year to date)

4,480 3,633

Net unrealized gains (losses) on securities held

(558) 203
Total Stockholder's Equity 82,131 75,889

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$734,422 $664,959

Book value per Share-Undiluted $50.62 $47.32
Book value per Share Diluted $50.09 $46.59

Quarterly Return on Average Assets (ROA)
(*Bank Only as of June 30)

1.16% 1.07%

Quarterly Efficiency Ratio (*Bank Only as of June 30)

65.14% 62.94%

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