Resource Bank | Statement of Financial Condition

Resource Bankshares, Inc. Financial Statement STATEMENT OF FINANCIAL CONDITION (in thousands)	Holding Company Consolidated 6/30/2024	Holding Company Consolidated 6/30/2023
ASSETS	(unaudited)	(unaudited)
Cash & due from banks	$10,913	$18,920
Interest bearing deposits in other banks	13	1
Fed Funds Sold	30,830	5,095
Investment securities: Available-for-sale, at fair market value	161,817	217,438
Held-to-maturity	4,869	4,851
Other stocks, at cost	2,786	1,236
Loans, less allowances for loan losses (6/30/2024 Allowance for loan losses $4,821,000) (6/30/2023 Allowance for loan losses $4,631,894)	752,654	713,883
Bank premises & equipment, net of accumulated depreciation	30,585	28,082
Deferred Tax Receivable	2,208	3,312
Accrued interest receivable	3,115	2,630
Other real estate owned	634	604
Other Assets	1,730	1,711
TOTAL ASSETS	$1,002,154	$997,763
LIABILITIES
Deposits
Demand Deposit Accounts	$194,248	$222,044
NOW Accounts	247,519	290,459
Money Market Accounts	67,458	50,500
Saving Accounts	32,666	37,566
Certificates of Deposits $250,000 & over	151,756	130,251
Other Certificates of Deposits	80,390	64,984
Total Deposits	774,037	795,804
Accrued expenses and other liabilities	3,727	3,403
Deferred Tax Payable	24	128
Accrued Interest Payable	4,266	2,639
Other borrowed funds	114,100	98,800
Total Liabilities	$896,154	$900,774
STOCKHOLDERS' EQUITY
Common stock: $1.00 par value; 2,000,000 shares authorized; 1,631,081 and 1,610,401 shares issued and outstanding at 06/30/2024 and 06/30/2023, respectively.	1,631	1,610
Stock Subscription Receivable	(1,765)	(1,665)
Capital surplus	22,702	21,580
Retained Earnings	87,936	83,776
Earnings year to date (* Bank Only $3,826,865, year to date)	3,803	4,148
Net unrealized gains (losses) on securities held	(8,307)	(12,460)
Total Stockholder's Equity	106,000	96,989
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$1,002,154	$997,763
Book value per Share-Undiluted	$65.36	$60.62
Book value per Share-Diluted	$65.38	$61.04
Quarterly Return on Average Assets (ROA) (*Bank Only as of June 30)	0.78%	0.80%
Quarterly Efficiency Ratio (*Bank Only as of June 30)	73.19%	68.33%
YTD Return on Average Assets (ROA) (*Bank Only as of June 30)	0.78%	0.86%
YTD Efficiency Ratio (*Bank Only as of June 30)	73.56%	70.57%
Tier 1 Capital Total Stockholder's Equity	$114,307	$109,449
Tier 1 Capital Book value per share-undiluted	$70.48	$68.41
Tier 1 Capital Book value per share-diluted	$70.02	$67.99

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.