Franklin Financial Network, Inc. (FSB) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
722 COLUMBIA AVENUE FRANKLIN, TN 37064 |
| State of Incorp. | TN |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6022 - State Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2020 MRQ | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 238,581 | 283,806 | 251,543 | 90,927 | 52,394 | 49,347 | |||
| Cash and cash equivalents | 238,581 | 283,806 | 251,543 | 90,927 | 52,394 | 49,347 | |||
| Total current assets: | 238,581 | 283,806 | 251,543 | 90,927 | 52,394 | 49,347 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 2,819 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Operating lease, right-of-use asset | 39,594 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 12,141 | 12,371 | 11,281 | 9,551 | 7,640 | 9,664 | |||
| Intangible assets, net (including goodwill) | 18,624 | 19,128 | 10,131 | 10,604 | 11,167 | 11,822 | |||
| Goodwill | 18,176 | 18,176 | 9,124 | 9,124 | 9,124 | 9,124 | |||
| Intangible assets, net (excluding goodwill) | 448 | 952 | 1,007 | 1,480 | 2,043 | 2,698 | |||
| Total noncurrent assets: | 73,178 | 31,499 | 21,412 | 20,155 | 18,807 | 21,486 | |||
| Other undisclosed assets | 3,584,403 | 3,934,134 | 3,570,571 | 2,832,107 | 2,096,591 | 1,284,994 | |||
| TOTAL ASSETS: | 3,896,162 | 4,249,439 | 3,843,526 | 2,943,189 | 2,167,792 | 1,355,827 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 31,004 | 36,496 | 61,261 | 22,253 | |||||
| Total current liabilities: | 31,004 | 36,496 | 61,261 | 22,253 | |||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 3,485,736 | 3,876,606 | 3,507,869 | 2,636,332 | 1,917,715 | 1,211,775 | |||
| Total liabilities: | 3,485,736 | 3,876,606 | 3,538,873 | 2,672,828 | 1,978,976 | 1,234,028 | |||
| Equity | |||||||||
| Equity, attributable to parent | 410,333 | 372,740 | 304,550 | 270,258 | 188,816 | 121,799 | |||
| Preferred stock | 10,000 | 10,000 | |||||||
| Common stock | 275,412 | 264,905 | 222,665 | 218,354 | 147,784 | 94,251 | |||
| Accumulated other comprehensive income (loss) | 1,819 | (15,341) | (6,786) | (7,482) | (320) | 2,176 | |||
| Retained earnings | 133,102 | 123,176 | 88,671 | 59,386 | 31,352 | 15,372 | |||
| Equity, attributable to noncontrolling interest | 93 | 93 | 103 | 103 | |||||
| Total equity: | 410,426 | 372,833 | 304,653 | 270,361 | 188,816 | 121,799 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,896,162 | 4,249,439 | 3,843,526 | 2,943,189 | 2,167,792 | 1,355,827 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2020 TTM | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 184,732 | 172,512 | 146,236 | 114,404 | 80,780 | 52,228 | ||
| Net investment income | 184,692 | 169,945 | 132,453 | 99,907 | 68,721 | 43,432 | ||
| Financial services revenue | ✕ | ✕ | ✕ | 13,783 | 14,497 | 12,059 | 8,796 | |
| Cost of revenue | (32,047) | (2,254) | (4,313) | (5,240) | (5,030) | (3,101) | ||
| Provision for loan, lease, and other losses | (32,047) | (2,254) | ✕ | ✕ | ✕ | ✕ | ||
| Amortization of mortgage servicing rights (msrs) | (727) | |||||||
| Financial services costs | ✕ | ✕ | ✕ | (4,313) | (5,240) | (5,030) | (2,374) | |
| Gross profit: | 152,685 | 170,258 | 141,923 | 109,164 | 75,750 | 49,127 | ||
| Operating expenses | (19,118) | (17,082) | (48,847) | (41,964) | (34,010) | (23,681) | ||
| Operating income: | 133,567 | 153,176 | 93,076 | 67,200 | 41,740 | 25,446 | ||
| Nonoperating income (expense) | (7) | 40 | 26 | 582 | ||||
| Investment income, nonoperating | 390 | |||||||
| Gains (losses) on sales of other real estate | (7) | 40 | 26 | (96) | ||||
| Bank owned life insurance income | 288 | |||||||
| Interest and debt expense | (73,532) | (64,442) | (35,407) | (18,323) | (9,306) | (5,739) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (6,741) | |||||||
| Income from continuing operations before equity method investments, income taxes: | 60,035 | 88,734 | 57,662 | 48,917 | 32,460 | 13,548 | ||
| Other undisclosed loss from continuing operations before income taxes | (45,026) | (48,301) | (11,032) | (9,114) | (7,359) | |||
| Income from continuing operations before income taxes: | 15,009 | 40,433 | 46,630 | 39,803 | 25,101 | 13,548 | ||
| Income tax expense | (187) | (5,912) | (18,531) | (11,746) | (9,021) | (5,134) | ||
| Income from continuing operations: | 14,822 | 34,521 | 28,099 | 28,057 | 16,080 | 8,414 | ||
| Income before gain (loss) on sale of properties: | 14,822 | 34,521 | 28,099 | 28,057 | 16,080 | 8,414 | ||
| Net income: | 14,822 | 34,521 | 28,099 | 28,057 | 16,080 | 8,414 | ||
| Net loss attributable to noncontrolling interest | (16) | (16) | (16) | |||||
| Net income attributable to parent: | 14,806 | 34,505 | 28,083 | 28,057 | 16,080 | 8,414 | ||
| Other undisclosed net loss available to common stockholders, basic | (23) | (100) | (100) | |||||
| Net income available to common stockholders, basic: | 14,806 | 34,505 | 28,083 | 28,034 | 15,980 | 8,314 | ||
| Other undisclosed net loss available to common stockholders, diluted | (120) | (372) | (219) | (284) | (174) | (94) | ||
| Net income available to common stockholders, diluted: | 14,686 | 34,133 | 27,864 | 27,750 | 15,806 | 8,220 | ||
Comprehensive Income ($ in thousands)
| 6/30/2020 TTM | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 14,822 | 34,521 | 28,099 | 28,057 | 16,080 | 8,414 | ||
| Other comprehensive income (loss) | 18,336 | (11,579) | 3,119 | (11,781) | (4,053) | 6,709 | ||
| Comprehensive income: | 33,158 | 22,942 | 31,218 | 16,276 | 12,027 | 15,123 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (16) | (16) | (16) | |||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (1,160) | 3,040 | (1,205) | 4,619 | 1,557 | |||
| Comprehensive income, net of tax, attributable to parent: | 31,982 | 25,966 | 29,997 | 20,895 | 13,584 | 15,123 | ||
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.