FRANKLIN FINANCIAL NETWORK, INC. FSB Cash Flow

Franklin financial network, inc. (FSB)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Cash flows from operating activities
Net (loss) income
-1,148	-4,584	11,323	5,182	2,901	3,751	10,549	10,169	10,052	2,402	8,889	8,874	7,934	7,179	7,137	7,508	6,233	4,664	5,150	3,134	3,132	2,835	2,015	2,035	1,529	1,403	1,010	1,183	965
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization on premises and equipment
585	-	-	-	410	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization on premises and equipment
-	-	-	-	-	-	-	438	403	-	377	373	368	344	334	330	322	329	337	340	319	315	281	176	159	161	153	167	172
Accretion of purchase accounting adjustments
108	229	125	174	172	216	512	358	252	205	159	333	381	687	-147	275	360	346	306	620	625	-	-	-	-	-	-	-	-
Net amortization of securities
-1,335	-2,300	-1,498	-1,866	-1,212	-1,760	-2,250	-2,169	-1,904	-2,475	-2,656	-2,546	-2,452	-2,245	-2,064	-1,860	-1,504	-1,535	-1,589	-1,091	-746	-668	-801	-571	-556	-702	-1,016	-1,184	-1,297
Amortization of loan servicing right asset
358	388	414	262	225	224	202	227	214	213	242	266	213	296	349	305	251	265	203	218	223	180	184	148	215	274	326	328	337
Amortization of core deposit intangible
94	108	119	132	145	157	169	182	104	110	115	121	127	132	138	144	149	156	160	167	172	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
44	45	45	44	45	44	45	45	44	45	44	45	44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
13,022	18,961	1,000	7,031	5,055	975	136	570	573	1,295	590	573	1,855	1,145	1,392	1,567	1,136	1,876	1,724	805	625	885	664	440	385	450	225	182	50
Impairment charges on loan servicing right asset
225	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax benefit
1,914	-4,037	-799	-6	-2,115	1,050	-637	-226	10	5,179	-836	3	-561	51	-811	-202	-2	-491	-641	-1	75	-	-	-	-	-	-	-	-
Excess tax benefit related to stock compensation
210	-91	-28	92	113	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Origination of loans held for sale
186,974	218,160	229,377	123,001	85,008	10,697	83,027	101,609	83,226	87,107	94,958	110,705	65,213	110,575	111,769	89,448	59,381	64,359	75,389	86,593	74,849	71,813	81,200	62,828	47,114	63,101	83,135	95,528	65,828
Proceeds from sale of loans held for sale
188,952	233,438	200,904	121,439	75,791	15,522	86,481	99,491	83,622	87,800	98,814	113,476	78,379	113,668	104,276	86,253	63,172	66,956	79,708	93,273	72,213	80,314	80,175	59,227	47,216	61,303	88,232	96,958	68,749
Net gain on sale of loans held for sale
1,892	2,376	1,247	3,996	1,598	1,527	1,379	1,941	1,439	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) Loss on sale of loans held for investment
-416	-31	-1,745	-4	-223	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of loans
-	-	-	-	-	-	-	-	-	-	1,517	2,067	2,334	324	2,942	2,309	1,608	1,386	2,463	1,463	1,647	1,588	1,875	1,567	784	792	714	1,493	1,404
Gain on sale of available for sale securities
1,396	34	1,492	368	149	-	-	-	-	-	-	-	-	637	430	795	310	304	5	-1	376	166	22	63	8	10	0	28	50
Gain on call of held to maturity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	110	39	-	-	-	-	-	-	-	-
Income from bank owned life insurance
356	360	377	375	375	380	393	397	365	353	155	155	155	162	163	162	161	167	170	162	112	85	83	60	60	64	66	69	69
Gain on sale and write down of foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	-	-	-	3	-	-	-	-	-	-	-	-
Net loss/(gain) on foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	-	-	-	-
Loss on sale of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-98	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	788	447	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale and write down of foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	190
Stock-based compensation
1,512	1,762	1,313	1,513	1,329	3,115	1,376	1,319	759	-	-	-	-	440	406	537	258	-	248	225	146	154	146	107	204	103	115	79	67
Compensation expense related to common stock issued to 401(k) plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	135	134	135	110	116	119	121	-	-	-	-	-	-	-	-
Deferred gain on sale of loans
4	4	4	3	4	4	3	4	4	0	0	0	58	18	8	18	20	9	9	9	9	19	10	9	12	-	-	-	-
Deferred gain on sale of foreclosed assets
2	4	3	3	4	1	3	3	3	-	-	3	3	-	-	-	-	-	-	-	3	-	-	-	-	-	-	-	-
Net change in:
Accrued interest receivable and other assets
361	1,075	-3,194	-17,378	12,900	4,210	1,849	282	1,871	3,587	3,275	987	1,687	1,245	-476	1,638	-129	1,613	1,347	1,971	668	183	-1,162	730	331	-937	1,138	-157	-293
Accrued interest payable and other liabilities
-4,248	-3,070	-7,535	3,229	3,646	4,622	1,343	-5,223	1,896	1,706	-211	-4,613	5,944	-651	3,231	-3,182	2,212	1,394	2,006	-827	1,011	486	11	-500	-216	-319	1,001	96	-206
Net cash from operating activities
11,758	23,667	-18,902	30,502	-11,456	18,133	15,187	4,566	12,421	9,168	11,017	8,082	27,371	9,825	3,977	640	13,754	8,322	10,908	7,596	452	11,378	1,738	-2,892	1,706	509	6,964	3,476	4,563
Cash flows from investing activities
Securities available for sale :
Sales and calls
102,426	20,166	215,747	87,424	259,613	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases
369	101,900	11,901	14,500	80,360	238,844	8,957	1,650	224,712	209,194	61,481	30,921	363,298	167,604	38,162	115,101	70,169	31,910	20,272	285,320	161,475	79,841	49,401	35,002	34,208	101,751	10,754	27,629	49,828
Sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,940	13,491	48,772	55,236	19,776	22,999	9,289	10,094	9,714	18,922	5,451	4,735	0	6,799	4,756
Maturities and prepayments
15,663	39,956	22,691	20,506	62,050	237,687	34,393	65,650	22,129	67,118	39,618	26,554	42,167	38,805	27,268	19,214	18,020	16,925	17,916	75,620	93,686	23,874	12,974	48,032	8,459	11,361	13,910	28,663	24,716
Securities held to maturity :
Purchases
-	-	-	-	-	1,671	0	0	1,676	2,270	0	0	1,996	2,103	10,241	81,160	1,245	-	-	-	-	0	0	0	8,601	9,281	8,286	1,000	10,370
Maturities, prepayments and calls
0	0	2,855	2,813	2,448	1,428	4,178	3,679	2,714	4,216	4,531	3,244	4,335	7,624	7,193	5,460	1,435	1,276	2,856	3,881	2,657	2,896	2,285	1,611	4,759	1,745	1,703	1,168	1,224
Net change in loans
87,662	-	-	-	142,678	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in loans
-	-	-	-	-	-	-	65,299	53,240	-	107,339	61,896	177,360	119,029	103,639	128,501	117,804	180,599	161,326	87,154	86,758	67,252	49,122	34,972	30,582	43,376	44,741	22,973	11,482
Proceeds from sale of loans held for investment
23,975	0	58,381	18,468	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of bank owned life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	344	0	10,000	-	-	-	-	-	-	-	-
Proceeds from sale of buildings held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,542	0	0	0	4,080	-	-	-	-	-	-	-	-
Purchase of restricted equity securities
42	38	-78	2,039	972	38	1,260	51	1,114	20	1,146	2,348	3,135	14	1,940	1,865	26	307	6	1,954	382	-	-	-	-	-	-	-	-
Proceeds from sale of foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	266	265	532	257	163	214	-	-	-	-
Purchases of premises and equipment, net
36,914	167	-25	706	721	954	712	822	63	428	708	1,028	1,048	1,099	681	703	758	249	113	193	386	946	927	618	1,396	869	512	244	222
Decrease in certificates of deposits at other financial institutions
245	0	250	-246	0	-	-	-	-	-490	165	-495	-980	0	10	0	-815	-	-	-	-	-	-	-	-	-	-	-	-
Net cash from investing activities
17,322	-50,972	308,708	9,637	99,380	60,003	-49,621	26,048	-255,962	-189,195	-63,383	-5,735	-501,315	-223,750	-107,916	-289,165	-121,048	-167,400	-230,063	-271,855	-149,024	-110,438	-62,023	-2,609	-55,904	-136,939	-47,170	-15,420	-41,206
Cash flows from financing activities
(Decrease) increase in deposits
-70,113	145,634	-84,695	-169,198	-115,964	60,257	-26,475	-80,290	187,925	342,403	70,400	-62,787	425,394	173,864	-31,781	296,162	139,534	99,445	222,609	220,409	99,404	120,726	59,879	7,690	58,334	157,626	-11,873	-471	21,375
Increase (decrease) in federal funds purchased and repurchase agreements
-	-	-	-	-	0	-345	-35,726	5,067	-1,858	-9,220	-28,348	-12,871	37,458	9,171	-12,921	-51,493	63,468	1,051	849	-3,360	4,840	17,493	-6,980	-1,459	-15,306	22,433	6,215	9,347
Proceeds from Federal Home Loan Bank advances
95,000	135,000	50,000	150,000	190,000	180,000	20,000	155,000	95,000	10,000	50,000	90,000	230,000	20,000	230,000	35,000	40,000	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of Federal Home Loan Bank advances
115,000	200,000	226,500	170,000	142,000	183,000	0	132,000	50,000	75,000	0	20,000	145,000	50,000	120,000	40,000	40,000	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of subordinated notes, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-65	19,435	38,843	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,000	-	-	-	-
Proceeds from exercise of common stock warrants
-	-	-	-	-	-	-	-	-	0	0	18	132	22	34	7	38	19	17	41	2	-	-	-	-	-	-	-	-
Proceeds from exercise of common stock options
417	3,814	216	753	524	202	908	1,717	220	254	306	878	177	214	382	857	118	907	0	147	780	209	55	0	1	-	-	-	-
Proceeds from issuance of common stock, net of offering costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-2	-579	51,004	-	-	-	-	-	-	-	-
Divestment of stock issued to 401(k) plan
-	-	-	-	-	35	178	45	50	63	19	23	151	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid on common stock
893	-	584	584	583	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of Series A preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling interest distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	23	25	25	25	25	25	25	25	25	26	25	25	33
Net cash from financing activities
-90,589	83,549	-261,780	-189,531	-68,023	57,416	-6,090	-91,594	238,162	275,728	111,467	-20,270	497,681	249,103	87,638	298,521	116,954	163,814	223,650	258,842	147,805	111,750	70,888	685	66,851	138,257	38,710	10,750	30,746
Net change in cash and cash equivalents
-61,509	56,244	28,026	-149,392	19,901	135,552	-40,524	-60,980	-5,379	95,701	59,101	-17,923	23,737	35,178	-16,301	9,996	9,660	4,736	4,495	-5,417	-767	12,690	10,603	-4,816	12,653	1,827	-1,496	-1,194	-5,897
Supplemental information:
Interest paid
15,166	14,803	18,649	20,817	19,762	19,688	17,155	14,079	12,925	10,341	9,428	7,964	6,829	5,112	5,450	3,488	2,993	2,829	2,556	2,060	1,638	1,635	1,502	1,260	1,143	1,072	924	941	1,086
Income taxes paid
0	2,220	1,731	4,615	1,428	4,260	0	6,107	525	3,300	3,295	8,555	530	4,373	2,359	6,166	1,125	3,399	1,189	3,650	1,500	1,146	1,076	2,240	1,230	806	70	1,200	674
Non-cash supplemental information:
Establishment and extinguishment of lease liability and right-of use asset
-20,243	-	-	-	43,723	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from securities held to maturity to securities available for sale
0	-	-	-	1,206	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-