Document:

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                                                                    Exhibit 4.25

                    COMMON SECURITIES SUBSCRIPTION AGREEMENT

     COMMON SECURITIES SUBSCRIPTION AGREEMENT, dated as of October 29, 2002
(this "Agreement"), between Resource Capital Trust III, a statutory trust
created under the laws of the State of Delaware (the "Trust"), and Resource
Bankshares Corporation, Virginia corporation (the "Buyer"), relating to the
Trust's common securities (liquidation amount of $1,000 per security)
representing undivided beneficial interests in the assets of the Trust (the
"Common Securities"). Capitalized terms used herein and not otherwise defined
herein have the respective meanings ascribed thereto in the Subscription
Agreement (as defined below).

     WHEREAS, the Buyer, the Trust and the Purchaser named therein have entered
into a Capital Securities Subscription Agreement, dated October 16, 2002 (the
"Subscription Agreement"), in connection with the issuance and sale of Floating
Rate TP Securities (liquidation amount of $1,000 per security) by the Trust; and

     WHEREAS, the Buyer, as sponsor of the Trust, desires to purchase from the
Trust, and the Trust desires to sell to the Buyer, all of the Common Securities.

     NOW, THEREFORE, in consideration of the foregoing premises and the
conditions and agreements hereinafter set forth, the parties hereto agree as
follows:

     1. The Buyer hereby subscribes for and offers to purchase from the Trust,
and the Trust hereby accepts such offer and agrees to issue and sell to the
Buyer, contemporaneous with the Closing Date, 93 Common Securities with an
aggregate liquidation amount with respect to the assets of the Trust of
Ninety-Three Thousand Dollars ($93,000) in consideration of the payment on or
before the date hereof of Ninety-Three Thousand Dollars ($93,000) in immediately
available funds.

     2. The Trust represents and warrants that, upon execution and delivery of
the Common Securities to the Buyer, the Common Securities will be duly
authorized, validly issued, fully paid and nonassessable and entitled to the
benefits and subject to the terms of the Amended and Restated Declaration of
Trust, dated as of October 29, 2002, among the Buyer, as Sponsor, Wells Fargo
Bank, National Association, as Institutional Trustee, Wells Fargo Delaware Trust
Company as Delaware Trustee, and James M. Miller and Harvard R. Birdsong, as
Administrators, and the holders, from time to time, of undivided beneficial
interests in the Trust.

     3. This Agreement shall be deemed to be a contract made under the laws of
the State of New York, and for all purposes shall be governed by, and construed
in accordance with, the laws of the State of New York without regard to conflict
of law principles.

     4. This Agreement may be executed in any number of counterparts, each of
which when so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

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     IN WITNESS WHEREOF, the parties hereto have caused this Common Securities
Subscription Agreement to be duly executed as of the date first written above.

                                            RESOURCE CAPITAL TRUST III

                                            By: ________________________________
                                                Name:  James M. Miller
                                                Title: Administrator

                                            By: ________________________________
                                                Name:  Harvard R. Birdsong
                                                Title: Administrator

                                            RESOURCE BANKSHARES CORPORATION

                                            By: ________________________________
                                                Name:  Lawrence N. Smith
                                                Title: Chief Executive Officer

Common Securities Subscription Agreement

                                       2<PAGE>

                                                                    Exhibit 4.26

                           COMMON SECURITY CERTIFICATE

         THIS COMMON SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS OR ANY OTHER APPLICABLE
SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
EXCEPT PURSUANT TO AN EXEMPTION FROM REGISTRATION.

         EXCEPT AS SET FORTH IN SECTION 8.1(b) OF THE DECLARATION (AS DEFINED
BELOW), THIS SECURITY MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED.

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       Certificate Number C-1             Number of Common Securities 93

                    Certificate Evidencing Common Securities

                                       of
                           RESOURCE CAPITAL TRUST III

         Resource Capital Trust III, a statutory trust created under the laws of
the State of Delaware (the "Trust"), hereby certifies that Resource Bankshares
Corporation (the "Holder") is the registered owner of Ninety-Three Thousand
common securities of the Trust representing undivided beneficial interests in
the assets of the Trust (liquidation amount $1,000 per Common Security)(the
"Common Securities"). The Common Securities represented hereby are issued
pursuant to, and the designation, rights, privileges, restrictions, preferences
and other terms and provisions of the Common Securities shall in all respects be
subject to, the provisions of the Amended and Restated Declaration of Trust of
the Trust, dated as of October 29, 2002, among James M. Miller and Harvard R.
Birdsong, as Administrators, Wells Fargo Delaware Trust Company, as Delaware
Trustee, Wells Fargo Bank, National Association, as Institutional Trustee, the
Holder, as Sponsor, and the holders from time to time of undivided beneficial
interests in the assets of the Trust, including the designation of the terms of
the Common Securities as set forth in Annex I to the Declaration, as the same
may be amended from time to time (the "Declaration"). Capitalized terms used
herein but not defined shall have the meaning given them in the Declaration. The
Sponsor will provide a copy of the Declaration and the Indenture to the Holder
without charge upon written request to the Sponsor at its principal place of
business.

         As set forth in the Declaration, when an Event of Default has occurred
and is continuing, the rights of Holders of Common Securities to payment in
respect of Distributions and payments upon Liquidation, redemption or otherwise
are subordinated to the rights of payment of Holders of the Capital Securities.

         By acceptance of this Certificate, the Holder is bound by the
Declaration and is entitled to the benefits thereunder.

         By acceptance of this Certificate, the Holder agrees to treat, for
United States federal income tax purposes, the Debentures as indebtedness and
the Common Securities as evidence of undivided beneficial ownership in the
Debentures.

         This Common Security is governed by, and shall be construed in
accordance with, the laws of the State of Delaware, without regard to principles
of conflict of laws.

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         IN WITNESS WHEREOF, the Trust has executed this certificate this 29th
day of October, 2002.

                                              RESOURCE CAPITAL TRUST III

                                              By:______________________________
                                                 Name:
                                                 Title: Administrator

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                               REVERSE OF SECURITY

         Distributions payable on each Common Security will be identical in
amount to the Distributions payable on each Capital Security, which is at a
variable per annum rate of interest, reset quarterly, equal to LIBOR (as defined
in the Declaration) plus 3.45% (the "Coupon Rate") of the stated liquidation
amount of $1,000 per Capital Security, such rate being the rate of interest
payable on the Debentures to be held by the Institutional Trustee (provided,
that the applicable Coupon Rate may not exceed 12.5% through the Distribution
Payment Date in November 2007). Except as set forth below in respect of an
Extension Period, Distributions in arrears for more than one quarterly period
will bear interest thereon compounded quarterly at the applicable Coupon Rate
for each such quarterly period (to the extent permitted by applicable law). The
term "Distributions" as used herein includes cash distributions, any such
compounded distributions and any Additional Interest payable on the Debentures
unless otherwise stated. A Distribution is payable only to the extent that
payments are made in respect of the Debentures held by the Institutional Trustee
and to the extent the Institutional Trustee has funds legally available in the
Property Account therefor. The amount of Distributions payable for any period
will be computed for any full quarterly Distribution period on the basis of a
360-day year and the actual number of days elapsed in the relevant Distribution
period.

         Except as otherwise described below, Distributions on the Common
Securities will be cumulative, will accrue from the date of original issuance
and will be payable quarterly in arrears on February 7, May 7, August 7 and
November 7 of each year, commencing on February 7, 2003 (each, a "Distribution
Payment Date"). The Debenture Issuer has the right under the Indenture to defer
payments of interest on the Debentures by extending the interest payment period
for up to 20 consecutive quarterly periods (each, an "Extension Period") at any
time and from time to time on the Debentures, subject to the conditions
described below, during which Extension Period no interest shall be due and
payable (except any Additional Interest that may be due and payable). During any
Extension Period, interest will continue to accrue on the Debentures, and
interest on such accrued interest (such accrued interest and interest thereon
referred to herein as "Deferred Interest") will accrue at an annual rate equal
to the Coupon Rate in effect for each such Extension Period, compounded
quarterly from the date such Deferred Interest would have been payable were it
not for the Extension Period, to the extent permitted by law. No Extension
Period may end on a date other than a Distribution Payment Date. At the end of
any such Extension Period, the Debenture Issuer shall pay all Deferred Interest
then accrued and unpaid on the Debentures; provided, however, that no Extension
Period may extend beyond the Maturity Date. Prior to the termination of any
Extension Period, the Debenture Issuer may further extend such period, provided,
that such period together with all such previous and further consecutive
extensions thereof shall not exceed 20 consecutive quarterly periods, or extend
beyond the Maturity Date. Upon the termination of any Extension Period and upon
the payment of all Deferred Interest, the Debenture Issuer may commence a new
Extension Period, subject to the foregoing requirements. No interest or Deferred
Interest shall be due and payable during an Extension Period, except at the end
thereof, but Deferred Interest shall accrue upon each installment of interest
that would otherwise have been due and payable during such Extension Period
until such installment is paid. If Distributions are deferred, the Distributions
due shall be paid on the date that the related Extension Period terminates to
Holders of the Securities as they appear on the books and records of the Trust
on the record date immediately preceding such date.

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Distributions on the Securities must be paid on the dates payable (after giving
effect to any Extension Period) to the extent that the Trust has funds legally
available for the payment of such distributions in the Property Account of the
Trust. The Trust's funds legally available for Distribution to the Holders of
the Securities will be limited to payments received from the Debenture Issuer.
The payment of Distributions out of moneys held by the Trust is guaranteed by
the Guarantor pursuant to the Guarantee.

         The Common Securities shall be redeemable as provided in the
Declaration.

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                                   ASSIGNMENT

         FOR VALUE RECEIVED, the undersigned assigns and transfers this Common
Security Certificate to:

____________________________

____________________________

____________________________

(Insert assignee's social security or tax identification number)

____________________________

____________________________

____________________________

(Insert address and zip code of assignee),

and irrevocably appoints ___________ as agent to transfer this Common Security
Certificate on the books of the Trust. The agent may substitute another to act
for him or her.

         Date:__________________________________

         Signature:_____________________________

         (Sign exactly as your name appears on the other side of this Common
Security Certificate)

         Signature Guarantee:/1/__________________________________

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/1/ Signature must be guaranteed by an "eligible guarantor institution" that is
a bank, stockbroker, savings and loan association or credit union, meeting the
requirements of the Security registrar, which requirements include membership or
participation in the Securities Transfer Agents Medallion Program ("STAMP") or
such other "signature guarantee program" as may be determined by the Security
registrar in addition to, or in substitution for, STAMP, all in accordance with
the Securities Exchange Act of 1934, as amended.

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