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
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments49,65333,06059,21451,93410,27930,566
Cash and cash equivalents49,65333,06059,21451,93410,27930,566
Total current assets:49,65333,06059,21451,93410,27930,566
Noncurrent Assets
Operating lease, right-of-use asset38,153   
Property, plant and equipment 13,11112,26613,57815,41115,34915,523
Long-term investments and receivables220,028523,204442,488409,296425,187209,578
Long-term investments220,028523,204442,488409,296425,187209,578
Estimated insurance recoveries      
Total noncurrent assets:271,293535,469456,066424,707440,536225,101
Other undisclosed assets841,979549,692498,377462,539345,552462,569
TOTAL ASSETS:1,162,9241,118,2221,013,656939,180796,368718,235
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 70,18375,23567,34657,587  
Other undisclosed accounts payable and accrued liabilities 70,18375,23567,34657,587  
Debt 624,586552,193432,274403,491373,804354,913
Total current liabilities: 694,769627,428499,619461,079373,804354,913
Noncurrent Liabilities
Long-term debt and lease obligation 112,326104,04386,62376,25073,33971,819
Long-term debt, excluding current maturities 112,326104,04386,62376,25073,33971,819
Liabilities, other than long-term debt     24,91425,920
Accounts payable and accrued liabilities     24,91425,920
Total noncurrent liabilities: 112,326104,04386,62376,25098,25497,739
Other undisclosed liabilities96,53789,992148,975140,35583,45033,488
Total liabilities:903,631821,464735,217677,683555,508486,139
Equity
Equity, attributable to parent259,123296,588278,269261,326240,690231,926
Accumulated other comprehensive income (loss)(26,402)9,73713,2679,615(392)4,596
Retained earnings285,525286,851265,002251,711241,082227,330
Other undisclosed equity170170170170170170
Total equity:259,293296,758278,439261,496240,860232,096
TOTAL LIABILITIES AND EQUITY:1,162,9241,118,2221,013,656939,180796,368718,235

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
Revenues339,000297,341269,750257,286224,325163,482
Premiums earned, net56,98453,23249,78149,35544,387
Net investment income266,964236,652213,087200,578172,804 
Financial services revenue158,083
Cost of revenue(101,453)(24,667)(41,200)(46,244)(27,272) 
Cost of goods and services sold  17,51615,49013,452  
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:237,547272,674228,551211,042197,053163,482
Operating expenses(189,080)(175,568)(162,510)(153,544)(144,481)(132,206)
Operating income:48,46897,10666,04157,49852,57231,276
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:20,62073,91544,83737,98538,69018,371
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:20,57845,80419,27717,12820,55317,504
Income tax expense(4,418)(3,943)(3,387)(3,779)(3,212)(2,598)
Income from continuing operations:16,16041,86115,89013,34817,34114,906
Income before gain (loss) on sale of properties:41,86115,89013,34817,34114,906
Net income available to common stockholders, diluted:16,16041,86115,89013,34817,34114,906

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
Net income:16,16041,86115,89013,34817,34114,906
Other comprehensive income (loss) (36,138)(3,530)3,65210,007(5,780)5,598
Other undisclosed comprehensive loss      
Comprehensive income (loss):(19,979)38,33119,54223,35511,56120,504
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)38,33119,54223,35511,56120,504

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.

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