1ST FRANKLIN FINANCIAL CORP Financial Statements (2024 and earlier)
Company Profile
Business Address |
135 E TUGALO ST TOCCOA, GA 30577 |
State of Incorp. | GA |
Fiscal Year End | December 31 |
Industry (SIC) | 6141 - Personal Credit Institutions (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 49,653 | 33,060 | 59,214 | 51,934 | 10,279 | 30,566 | |||
Cash and cash equivalents | 49,653 | 33,060 | 59,214 | 51,934 | 10,279 | 30,566 | |||
Total current assets: | 49,653 | 33,060 | 59,214 | 51,934 | 10,279 | 30,566 | |||
Noncurrent Assets | |||||||||
Operating lease, right-of-use asset | 38,153 | ✕ | ✕ | ||||||
Property, plant and equipment | 13,111 | 12,266 | 13,578 | 15,411 | 15,349 | 15,523 | |||
Long-term investments and receivables | 220,028 | 523,204 | 442,488 | 409,296 | 425,187 | 209,578 | |||
Long-term investments | 220,028 | 523,204 | 442,488 | 409,296 | 425,187 | 209,578 | |||
Estimated insurance recoveries | |||||||||
Total noncurrent assets: | 271,293 | 535,469 | 456,066 | 424,707 | 440,536 | 225,101 | |||
Other undisclosed assets | 841,979 | 549,692 | 498,377 | 462,539 | 345,552 | 462,569 | |||
TOTAL ASSETS: | 1,162,924 | 1,118,222 | 1,013,656 | 939,180 | 796,368 | 718,235 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities, including: | 70,183 | 75,235 | 67,346 | 57,587 | |||||
Other undisclosed accounts payable and accrued liabilities | 70,183 | 75,235 | 67,346 | 57,587 | |||||
Debt | 624,586 | 552,193 | 432,274 | 403,491 | 373,804 | 354,913 | |||
Total current liabilities: | 694,769 | 627,428 | 499,619 | 461,079 | 373,804 | 354,913 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 112,326 | 104,043 | 86,623 | 76,250 | 73,339 | 71,819 | |||
Long-term debt, excluding current maturities | 112,326 | 104,043 | 86,623 | 76,250 | 73,339 | 71,819 | |||
Liabilities, other than long-term debt | 24,914 | 25,920 | |||||||
Accounts payable and accrued liabilities | 24,914 | 25,920 | |||||||
Total noncurrent liabilities: | 112,326 | 104,043 | 86,623 | 76,250 | 98,254 | 97,739 | |||
Other undisclosed liabilities | 96,537 | 89,992 | 148,975 | 140,355 | 83,450 | 33,488 | |||
Total liabilities: | 903,631 | 821,464 | 735,217 | 677,683 | 555,508 | 486,139 | |||
Equity | |||||||||
Equity, attributable to parent | 259,123 | 296,588 | 278,269 | 261,326 | 240,690 | 231,926 | |||
Accumulated other comprehensive income (loss) | (26,402) | 9,737 | 13,267 | 9,615 | (392) | 4,596 | |||
Retained earnings | 285,525 | 286,851 | 265,002 | 251,711 | 241,082 | 227,330 | |||
Other undisclosed equity | 170 | 170 | 170 | 170 | 170 | 170 | |||
Total equity: | 259,293 | 296,758 | 278,439 | 261,496 | 240,860 | 232,096 | |||
TOTAL LIABILITIES AND EQUITY: | 1,162,924 | 1,118,222 | 1,013,656 | 939,180 | 796,368 | 718,235 |
Income Statement (P&L) ($ in thousands)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Revenues | 339,000 | 297,341 | 269,750 | 257,286 | 224,325 | 163,482 | ||
Premiums earned, net | 56,984 | 53,232 | 49,781 | 49,355 | 44,387 | ✕ | ||
Net investment income | 266,964 | 236,652 | 213,087 | 200,578 | 172,804 | |||
Financial services revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 158,083 | |
Cost of revenue | (101,453) | (24,667) | (41,200) | (46,244) | (27,272) | |||
Cost of goods and services sold | 17,516 | 15,490 | 13,452 | |||||
Provision for loan, lease, and other losses | (84,288) | (42,183) | (56,689) | (59,696) | (39,207) | ✕ | ||
Policyholder benefits and claims incurred, net | (17,165) | 11,935 | ✕ | |||||
Gross profit: | 237,547 | 272,674 | 228,551 | 211,042 | 197,053 | 163,482 | ||
Operating expenses | (189,080) | (175,568) | (162,510) | (153,544) | (144,481) | (132,206) | ||
Operating income: | 48,468 | 97,106 | 66,041 | 57,498 | 52,572 | 31,276 | ||
Interest and debt expense | (27,848) | (23,190) | (21,203) | (19,513) | (13,882) | (12,905) | ||
Income from continuing operations before equity method investments, income taxes: | 20,620 | 73,915 | 44,837 | 37,985 | 38,690 | 18,371 | ||
Other undisclosed loss from continuing operations before income taxes | (43) | (28,111) | (25,560) | (20,857) | (18,138) | (867) | ||
Income from continuing operations before income taxes: | 20,578 | 45,804 | 19,277 | 17,128 | 20,553 | 17,504 | ||
Income tax expense | (4,418) | (3,943) | (3,387) | (3,779) | (3,212) | (2,598) | ||
Income from continuing operations: | 16,160 | 41,861 | 15,890 | 13,348 | 17,341 | 14,906 | ||
Income before gain (loss) on sale of properties: | ✕ | ✕ | 41,861 | 15,890 | 13,348 | 17,341 | 14,906 | |
Net income available to common stockholders, diluted: | 16,160 | 41,861 | 15,890 | 13,348 | 17,341 | 14,906 |
Comprehensive Income ($ in thousands)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Net income: | 16,160 | 41,861 | 15,890 | 13,348 | 17,341 | 14,906 | ||
Other comprehensive income (loss) | (36,138) | (3,530) | 3,652 | 10,007 | (5,780) | 5,598 | ||
Other undisclosed comprehensive loss | ||||||||
Comprehensive income (loss): | (19,979) | 38,331 | 19,542 | 23,355 | 11,561 | 20,504 | ||
Comprehensive income, net of tax, attributable to noncontrolling interest | ||||||||
Other undisclosed comprehensive income, net of tax, attributable to parent | ||||||||
Comprehensive income (loss), net of tax, attributable to parent: | (19,979) | 38,331 | 19,542 | 23,355 | 11,561 | 20,504 |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.