Franklin Financial Network (FSB) annual balance sheet covering fiscal 2014 through 2019, as reported to the SEC.
Total assets have grown 23.5% a year on average since fiscal 2014, from $1.36B to $3.9B.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||||||||||
Cash and due from financial institutions | |||||||||||||||||||||
234 | 280 | 251 | 90 | 52 | 49 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and due from financial institutions | 234 | 280 | 251 | 90 | 52 | 49 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Certificates of deposit at other financial institutions | |||||||||||||||||||||
3 | 3 | 2 | 1 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Certificates of deposit at other financial institutions | 3 | 3 | 2 | 1 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Securities available for sale | |||||||||||||||||||||
652 | 1,030 | 999 | 754 | 575 | 395 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Securities available for sale | 652 | 1,030 | 999 | 754 | 575 | 395 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Securities held to maturity (fair value 2019—$0 and 2018—$118,955) | |||||||||||||||||||||
- | 121 | 214 | 228 | 158 | 53 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Securities held to maturity (fair value 2019—$0 and 2018—$118,955) | - | 121 | 214 | 228 | 158 | 53 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loans held for sale, at fair value | |||||||||||||||||||||
43 | 11 | 12 | 23 | 14 | 18 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loans held for sale, at fair value | 43 | 11 | 12 | 23 | 14 | 18 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loans held for investment | |||||||||||||||||||||
2,812 | 2,672 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loans held for investment | 2,812 | 2,672 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Allowance for loan losses | |||||||||||||||||||||
45 | 23 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Allowance for loan losses | 45 | 23 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net loans | |||||||||||||||||||||
2,767 | 2,648 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loans | 2,767 | 2,648 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loans held for investment | |||||||||||||||||||||
- | - | 2,256 | 1,773 | 1,303 | 787 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loans held for investment | - | - | 2,256 | 1,773 | 1,303 | 787 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Allowance for loan losses | |||||||||||||||||||||
- | - | 21 | 16 | 11 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Allowance for loan losses | - | - | 21 | 16 | 11 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net loans | |||||||||||||||||||||
- | - | 2,235 | 1,757 | 1,292 | 780 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loans | - | - | 2,235 | 1,757 | 1,292 | 780 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Restricted equity securities, at cost | |||||||||||||||||||||
24 | 21 | 18 | 11 | 7 | 5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Restricted equity securities, at cost | 24 | 21 | 18 | 11 | 7 | 5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Premises and equipment, net | |||||||||||||||||||||
12 | 12 | 11 | 9 | 7 | 9 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Premises and equipment, net | 12 | 12 | 11 | 9 | 7 | 9 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued interest receivable | |||||||||||||||||||||
12 | 13 | 11 | 9 | 7 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued interest receivable | 12 | 13 | 11 | 9 | 7 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Bank owned life insurance | |||||||||||||||||||||
56 | 55 | 49 | 23 | 22 | 11 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Bank owned life insurance | 56 | 55 | 49 | 23 | 22 | 11 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax asset | |||||||||||||||||||||
14 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax asset | 14 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax asset | |||||||||||||||||||||
- | 13 | 10 | 15 | 9 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax asset | - | 13 | 10 | 15 | 9 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Assets held for sale | |||||||||||||||||||||
- | - | - | - | 1 | 4 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Assets held for sale | - | - | - | - | 1 | 4 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Foreclosed assets | |||||||||||||||||||||
- | - | 1 | - | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Foreclosed assets | - | - | 1 | - | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Servicing rights, net | |||||||||||||||||||||
3 | 3 | 3 | 3 | 3 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Servicing rights, net | 3 | 3 | 3 | 3 | 3 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
18 | 18 | 9 | 9 | 9 | 9 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | 18 | 18 | 9 | 9 | 9 | 9 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Core deposit intangible, net | |||||||||||||||||||||
0 | 0 | 1 | 1 | 2 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Core deposit intangible, net | 0 | 0 | 1 | 1 | 2 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
53 | 14 | 10 | 2 | 3 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 53 | 14 | 10 | 2 | 3 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total assets | |||||||||||||||||||||
3,896 | 4,249 | 3,843 | 2,943 | 2,167 | 1,355 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total assets | 3,896 | 4,249 | 3,843 | 2,943 | 2,167 | 1,355 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
Non-interest bearing | |||||||||||||||||||||
319 | 290 | 272 | 233 | 176 | 150 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-interest bearing | 319 | 290 | 272 | 233 | 176 | 150 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest bearing | |||||||||||||||||||||
2,888 | 3,141 | 2,895 | 2,158 | 1,637 | 1,021 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest bearing | 2,888 | 3,141 | 2,895 | 2,158 | 1,637 | 1,021 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total deposits | |||||||||||||||||||||
3,207 | 3,431 | 3,167 | 2,391 | 1,814 | 1,172 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total deposits | 3,207 | 3,431 | 3,167 | 2,391 | 1,814 | 1,172 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Federal funds purchased and repurchase agreements | |||||||||||||||||||||
- | - | 31 | 83 | 101 | 39 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Federal funds purchased and repurchase agreements | - | - | 31 | 83 | 101 | 39 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Federal Home Loan Bank advances | |||||||||||||||||||||
155 | 368 | 272 | 132 | 57 | 19 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Federal Home Loan Bank advances | 155 | 368 | 272 | 132 | 57 | 19 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Subordinated notes, net | |||||||||||||||||||||
58 | 58 | 58 | 58 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Subordinated notes, net | 58 | 58 | 58 | 58 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued interest payable | |||||||||||||||||||||
4 | 4 | 2 | 1 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued interest payable | 4 | 4 | 2 | 1 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other liabilities | |||||||||||||||||||||
60 | 12 | 7 | 5 | 6 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other liabilities | 60 | 12 | 7 | 5 | 6 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities | |||||||||||||||||||||
3,485 | 3,876 | 3,538 | 2,672 | 1,978 | 1,234 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities | 3,485 | 3,876 | 3,538 | 2,672 | 1,978 | 1,234 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity | |||||||||||||||||||||
Preferred stock, no par value: 1.0 million shares authorized; no shares outstanding at June 30, 2020 and December 31, 2019 | |||||||||||||||||||||
- | - | - | - | 10 | 10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred stock, no par value: 1.0 million shares authorized; no shares outstanding at June 30, 2020 and December 31, 2019 | - | - | - | - | 10 | 10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Common stock, no par value: 30.0 million authorized; 14.9 million issued and outstanding at June 30, 2020 and 14.8 million issued and outstanding December 31, 2019, respectively | |||||||||||||||||||||
275 | 264 | 222 | 218 | 147 | 94 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock, no par value: 30.0 million authorized; 14.9 million issued and outstanding at June 30, 2020 and 14.8 million issued and outstanding December 31, 2019, respectively | 275 | 264 | 222 | 218 | 147 | 94 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Retained earnings | |||||||||||||||||||||
133 | 123 | 88 | 59 | 31 | 15 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Retained earnings | 133 | 123 | 88 | 59 | 31 | 15 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive income | |||||||||||||||||||||
1 | -15 | -6 | -7 | -0 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated other comprehensive income | 1 | -15 | -6 | -7 | -0 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total shareholders’ equity | |||||||||||||||||||||
410 | 372 | 304 | 270 | 188 | 121 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total shareholders’ equity | 410 | 372 | 304 | 270 | 188 | 121 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-controlling interest in consolidated subsidiary | |||||||||||||||||||||
0 | 0 | 0 | 0 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-controlling interest in consolidated subsidiary | 0 | 0 | 0 | 0 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total equity | |||||||||||||||||||||
410 | 372 | 304 | 270 | 188 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total equity | 410 | 372 | 304 | 270 | 188 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities and equity | |||||||||||||||||||||
3,896 | 4,249 | 3,843 | 2,943 | 2,167 | 1,355 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities and equity | 3,896 | 4,249 | 3,843 | 2,943 | 2,167 | 1,355 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||