Financial Statement


Resource Bankshares, Inc. Financial Statement

 

STATEMENT OF FINANCIAL CONDITION
(in thousands)

Holding
Company Consolidated
9/30/2020 (unaudited)
Holding
Company Consolidated
9/30/2019 (unaudited)

ASSETS    
Cash & due from banks $11,835 $13,773
Interest bearing deposits in other banks 86 93
Fed Funds Sold 144,601 44,491
Investment securities: Available-for-sale, at fair market value 63,634 45,797
Other stocks, at cost 2,124 2,081
Loans, less allowances for loan losses 640,707 627,436
(9/30/20 Allowance for loan losses $4,282,926)    
(9/30/19 Allowance for loan losses $4,114,267)    
Bank premises & equipment, net of accumulated depreciation 21,441 20,958
Accrued interest receivable 1,721 1,846
Other real estate owned 1,463 1,362
Other Assets 991 1,069
TOTAL ASSETS $888,621 $758,906

LIABILITIES

   
Deposits    
Demand Deposit Accounts 206,475 154,002
NOW Accounts 302,002 264,381
Money Market Accounts 106,958 91,479
Saving Accounts 29,245 21,840
Certificates of Deposits $100,000 & over 97,798 88,508
Other Certificates of Deposits  22,962 23,404
Total Deposits 765,440 643,614
Accrued expenses and other liabilities 3,763 3,373
Deferred Tax Payable 523 275
Accrued Interest Payable 513 608
Other borrowed funds 20,000 20,000
Total Liabilities $790,239 $667,870

STOCKHOLDERS' EQUITY

   
Common stock: $1.00 par value; 2,000,000 shares authorized;
  1,622,289 and 1,612,780 shares issued and outstanding at 09/30/2020 and 09/30/2019, respectively.
1,622 1,613
Preferred stock: $0.00 par value; 100,000 shares authorized; no shares issued or outstanding
0
Stock Subscription Receivable (1,236) (1,137)
Capital surplus 26,214 26,163

Retained Earnings

63,072 56,690

Earnings year to date (* Bank Only $7,491,691, year to date)

7,461 7,064

Net unrealized gains (losses) on securities held

1,249 643
Total Stockholder's Equity 98,382 91,036

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$888,621 $758,906

Book value per Share-Undiluted $60.64 $56.45
Book value per Share-Diluted $60.08 $55.78

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

1.14% 1.21%

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

64.41% 65.89%

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

1.20% 1.27%

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

64.34% 64.78%

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.

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