Resource Bank in Covington, Louisiana (LA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Resource Bank - Overview

  • General
  • FDIC Certificate #: 34803
    Status: Active
    Federal Reserve ID: 2716088
    Bank Holding Company (Regulatory Top Holder): Resource Bankshares, Inc. (RSSDID: 3136405, Location: Covington, LA)
    Date Established: July 20, 1998
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    FDIC's unique #: 61651
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: July 20, 1998
    Last Structure Change Effective Date: June 15, 2009
    Last Structure Change Process Date: June 22, 2009
    Last Data Update: June 22, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 70533 Highway 21, Covington, LA 70433
    County: St. Tammany
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Baton Rouge
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): New Orleans, LA (#5560)
    Combined Statistical Area (CSA): New Orleans-Metairie-Bogalusa, LA (#406)
    Core Based Statistical Area (CBSA): New Orleans-Metairie-Kenner, LA (#35380)
    CBSA Metro Statistical Area: New Orleans-Metairie-Kenner, LA (#35380)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $430.8 mil
    Equity capital: $43.1 mil
    Deposits held in domestic offices: $371.8 mil
    Return on assets (ROA): 1.00% ($4.3 mil)
    Quarterly return on assets: 1.06% ($4.6 mil)
    Return on Equity (ROE): 10.03% ($4.3 mil)
    Quarterly return on equity: 10.68% ($4.6 mil)
    Net income: $4.1 mil
    Quarterly Net income: $1.1 mil
    Pretax return on assets: 1.46% ($6,290.0 mil)
    Quarterly Pretax return on assets: 1.59% ($6,850.1 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 116Total employees (full-time equivalent)
  • $430,825Total assets
  • $44,765Cash and due from depository institutions
  • $31,139Interest-bearing balances
  • $34,517Securities
  • $350Federal funds sold & reverse repurchase agreements
  • $335,851Net loans & leases
  • $3,014Loan loss allowance
  • $0Trading account assets
  • $8,998Bank premises and fixed assets
  • $2,553Other real estate owned
  • $0Goodwill and other intangibles
  • $430,825Life insurance assets
  • $3,791All other assets
  • $387,708Total liabilities and capital
  • $371,802Total liabilities
  • $307,090Total deposits
  • $371,802Interest-bearing deposits
  • $67Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $15,000Trading liabilities
  • $0Other borrowed funds
  • $906Subordinated debt
  • $43,117All other liabilities
  • $43,117Total equity capital
  • $43,117Total bank equity capital
  • $0Perpetual preferred stock
  • $1,033Common stock
  • $31,199Surplus
  • $10,885Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,345Income earned, not collected on loans
  • $0Earning assets
  • $1,290Long-term assets (5+ years)
  • $401,857Average Assets, year-to-date
  • $64,380Average Assets, quarterly
  • $410,061Volatile liabilities
  • $429,828Insider loans
  • $351,568FHLB advances
  • $426,666Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $42,754Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $49,908Restructured Loans and leases
  • $7,498Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,091Total interest income
  • $3,075Total interest expense
  • $18,016Net interest income
  • $514Provision for loan and lease losses
  • $812Total noninterest income
  • $0Fiduciary activities
  • $453Service charges on deposit accounts
  • $0Trading account gains & fees
  • $359Additional noninterest income
  • $12,206Total noninterest expense
  • $7,181Salaries and employee benefits
  • $1,273Premises and equipment expense
  • $3,752Additional noninterest expense
  • $6,108Pre-tax net operating income
  • -$126Securities gains (losses)
  • $1,877Applicable income taxes
  • $4,105Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,105Net income attributable to bank
  • $0Net charge-offs
  • $4,105Cash dividends
  • $17Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.51%Yield on earning assets
  • 0.80%Cost of funding earning assets
  • 4.71%Net interest margin
  • 0.21%Noninterest income to earning assets
  • 3.19%Noninterest expense to earning assets
  • 1.02%Net operating income to assets
  • 1.00%Return on assets (ROA)
  • 1.46%Pretax return on assets
  • 10.03%Return on equity (ROE)
  • 10.03%Retained earnings to average equity (YTD only)
  • 0.01%Net charge-offs to loans
  • 3023.53%Credit loss provision to net charge-offs
  • 389.53%Efficiency ratio
  • 64,829Assets per employee
  • 3.71%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.89%Loss allowance to noncurrent loans
  • 224.09%Noncurrent assets plus other real estate owned to assets
  • 1.01%Noncurrent loans to loans
  • 0.40%Net loans and leases to deposits
  • 90.33%Net loans and leases to core deposits
  • 98.06%Equity capital to assets
  • 10.01%Core capital (leverage) ratio
  • 10.02%Tier 1 risk-based capital ratio
  • 12.16%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $410,061Average earning assets
  • $40,925Average equity
  • $382,572Average loans

List of branches

  • 10 Louisiana Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061651Resource Bank70533 Highway 21, Covington, LA 70433July 20, 1998Full Service Brick and Mortar
    1290815Franklinton Branch950 Tenth Avenue, Franklinton, LA 70438September 04, 1998Full Service Brick and Mortar
    2290816Bogalusa Branch402 Avenue B, Bogalusa, LA 70427September 07, 1999Full Service Brick and Mortar
    3356735Covington Branch1500 Village Walk, Covington, LA 70433May 01, 2000Full Service Brick and Mortar
    4364825Highway 59 Motorbranch68177 Highway 59, Mandeville, LA 70471May 01, 2002Full Service Brick and Mortar
    5433524West Causeway Branch1695 West Causeway Approach, Mandeville, LA 70471December 20, 2004Full Service Brick and Mortar
    7450654Highway 21 Branch2190 North Causeway Boulevard, Mandeville, LA 70471April 17, 2006Full Service Brick and Mortar
    9456286Slidell Branch2265 Gause Boulevard East, Slidell, LA 70461November 15, 2006Full Service Brick and Mortar
    11521578Heritage Plaza Branch111 Veterans Blvd, Metairie, LA 70005June 15, 2011Full Service Brick and Mortar
    12525920Christwood Retirement Center100 Christwood Boulevard, Covington, LA 70433May 04, 2010Limited Service Mobile

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