Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 3/31/2023	Holding Company Consolidated 3/31/2022
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$12,716	$16,203
Interest bearing deposits in other banks	2	60
Fed Funds Sold	18,344	47,737
Investment securities: Available-for-sale, at fair market value	229,206	229,922
Held-to-maturity	4,846	4,828
Other stocks, at cost	1,182	2,138
Loans, less allowances for loan losses (3/31/2023 Allowance for loan losses $4,445,351) (3/31/2022 Allowance for loan losses $4,332,037)	680,218	642,053
Bank premises & equipment, net of accumulated depreciation	25,998	23,751
Deferred Tax Receivable	3,026	2,143
Accrued interest receivable	2,470	1,985
Other real estate owned	674	1,035
Other Assets	1,286	1,102
TOTAL ASSETS	$979,968	$972,957
LIABILITIES
Deposits
Demand Deposit Accounts	$220,789	$243,505
NOW Accounts	298,915	392,998
Money Market Accounts	62,527	112,946
Saving Accounts	35,071	38,923
Certificates of Deposits $250,000 & over	120,679	48,505
Other Certificates of Deposits	57,581	21,156
Total Deposits	795,562	858,033
Accrued expenses and other liabilities	2,349	2,142
Deferred Tax Payable	110	215
Accrued Interest Payable	847	81
Other borrowed funds	84,500	20,000
Total Liabilities	$883,368	$880,471
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,599,456 and 1,579,127 shares issued and outstanding at 3/31/2023 and 3/31/2022, respectively.	1,599	1,579
Stock Subscription Receivable	(1,501)	(1,359)
Capital surplus	21,176	20,345
Retained Earnings	84,662	77,405
Earnings year to date (* Bank Only $2,199,497, year to date)	2,192	2,579
Net unrealized gains (losses) on securities held	(11,528)	(8,063)
Total Stockholder's Equity	96,600	92,486
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$979,968	$972,957
Book value per Share-Undiluted	$60.54	$58.85
Book value per Share-Diluted	$60.91	$59.25
Quarterly Return on Average Assets (ROA) (*Bank Only as of March 31)	0.91%	1.05%
Quarterly Efficiency Ratio (*Bank Only as of March 31)	72.56%	65.34%
YTD Return on Average Assets (ROA) (*Bank Only as of March 31)	0.91%	1.05%
YTD Efficiency Ratio (*Bank Only as of March 31)	72.56%	65.34%
Tier 1 Capital Total Stockholder's Equity	$108,128	$100,549
Tier 1 Capital Book value per share-undiluted	$67.76	$63.98
Tier 1 Capital Book value per share-diluted	$67.28	$63.71

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.