Resource Bankshares, Inc. Financial Statement  STATEMENT OF FINANCIAL CONDITION
(in thousands)
Holding Company Consolidated
12/31/2023

Holding Company Consolidated
12/31/2022

ASSETS (unaudited)  (unaudited) 
Cash & due from banks $11,486 $9,898
Interest bearing deposits in other banks 4 72
Fed Funds Sold 3,604 2,342
Investment securities: Available-for-sale, at fair market value 182,381 242,637
Held-to-maturity 4,860 4,842
Other stocks, at cost 2,729 3,974
Loans, less allowances for loan losses
(12/31/2023 Allowance for loan losses $4,789,000)
(12/31/2022 Allowance for loan losses $4,485,484)
744,133 658,587
Bank premises & equipment, net of accumulated depreciation 30,042 24,467
Deferred Tax Receivable 2,426 3,612
Accrued interest receivable 3,008 2,633
Other real estate owned 619 881
Other Assets 1,629 1,079
TOTAL ASSETS $986,921 $955,024
LIABILITIES  
Deposits  
Demand Deposit Accounts $196,377 $222,905
NOW Accounts 261,862 347,016
Money Market Accounts 48,281 98,030
Saving Accounts 32,802 41,087
Certificates of Deposits $250,000 & over 130,906 41,549
Other Certificates of Deposits 75,470 38,279
Total Deposits 745,698 788,866
Accrued expenses and other liabilities 2,142 1,714
Deferred Tax Payable 93 215
Accrued Interest Payable 5,540 130
Other borrowed funds 130,900 71,250
Total Liabilities $884,373 $862,175
STOCKHOLDERS' EQUITY  
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,616,867 and 1,593,583 shares issued and outstanding at 12/31/2023 and 12/31/2022, respectively. 1,617 1,594
Stock Subscription Receivable (1,665) (1,501)
Capital surplus 21,999 20,949
Retained Earnings 81,999 75,018
Earnings year to date (* Bank Only $7,777,592, year to date) 7,724 10,377
Net unrealized gains (losses) on securities held (9,126) (13,588)
Total Stockholder's Equity 102,548 92,849
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $986,921 $955,024
Book value per Share-Undiluted $63.80 $58.59
Book value per Share-Diluted $63.87 $59.14
Quarterly Return on Average Assets (ROA) (*Bank Only as of December 31) 0.77% 1.09%
Quarterly Efficiency Ratio (*Bank Only as of December 31) 71.40% 63.70%
YTD Return on Average Assets (ROA) (*Bank Only as of December 31) 0.79% 1.07%
YTD Efficiency Ratio (*Bank Only as of December 31) 71.18% 63.70%
Tier 1 Capital Total Stockholder's Equity $111,674 $106,437
Tier 1 Capital Book value per share-undiluted $69.48 $67.17
Tier 1 Capital Book value per share-diluted $68.97 $66.68

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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