FRANKLIN FINANCIAL NETWORK, INC. FSB Income Statement

Franklin financial network, inc. (FSB)

Income statement / 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
Interest income and dividends
Loans, including fees
37,038	38,567	40,118	40,202	38,338	36,378	34,435	32,312	28,793	27,275	25,973	24,662	22,560	21,372	20,192	18,930	17,742	15,503	14,744	12,173	11,154	11,119	10,168	6,380	5,918	5,660	5,186	4,747	4,501
Securities:
Taxable
2,424	2,639	3,815	4,614	6,394	7,057	6,460	6,905	6,111	4,951	5,041	5,700	5,617	3,904	3,889	3,985	3,528	3,278	3,462	2,957	2,665	2,527	2,395	2,234	2,303	1,710	1,098	1,007	840
Tax-Exempt
1,383	1,208	1,471	1,410	1,470	1,614	1,926	1,929	1,915	2,144	2,217	2,212	2,020	1,833	1,457	1,197	1,122	1,176	966	169	20	21	20	20	20	22	17	14	14
Dividends on restricted equity securities
162	238	291	350	334	327	313	329	274	265	269	213	181	146	133	118	103	100	100	83	67	52	84	51	40	35	30	30	31
Federal funds sold and other
600	533	836	877	987	669	583	661	954	486	280	224	163	81	53	56	66	24	29	31	20	23	25	14	18	5	7	9	19
Total interest income
41,607	43,185	46,531	47,453	47,523	46,045	43,717	42,136	38,047	35,121	33,780	33,011	30,541	27,336	25,724	24,286	22,561	20,081	19,301	15,413	13,926	13,742	12,692	8,699	8,299	7,432	6,338	5,807	5,405
Interest expense
Deposits
12,246	12,609	15,020	16,679	16,990	15,942	14,137	12,604	10,643	8,346	7,311	6,561	5,246	4,116	3,683	3,358	3,077	2,725	2,417	1,913	1,633	1,493	1,446	1,214	1,148	960	874	894	965
Federal funds purchased and repurchase agreements
14	79	49	90	72	123	69	131	96	98	92	147	70	43	69	82	109	74	69	92	71	53	39	57	27	51	50	36	7
Federal Home Loan Bank advances and other borrowings
801	1,302	2,118	2,237	1,959	1,978	1,867	1,414	1,110	987	968	752	508	396	215	187	86	87	79	81	65	73	80	80	29	33	29	19	19
Subordinated notes
1,082	1,082	1,082	1,082	1,082	1,082	1,082	1,082	1,082	1,082	1,083	1,082	1,074	1,082	1,082	725	13	-	-	-	-	-	-	-	-	-	-	-	-
Total interest expense
14,143	15,072	18,269	20,088	20,103	19,125	17,155	15,231	12,931	10,513	9,454	8,542	6,898	5,637	5,049	4,352	3,285	2,886	2,565	2,086	1,769	1,619	1,565	1,351	1,204	1,044	953	949	991
Net interest income
27,464	28,113	28,262	27,365	27,420	26,920	26,562	26,905	25,116	24,608	24,326	24,469	23,643	21,699	20,675	19,934	19,276	17,195	16,736	13,327	12,157	12,123	11,127	7,348	7,095	6,388	5,385	4,858	4,414
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
Net interest income after provision for loan losses
14,442	9,152	27,262	20,334	22,365	25,945	26,426	26,335	24,543	23,313	23,736	23,896	21,788	20,554	19,283	18,367	18,140	15,319	15,012	12,522	11,532	11,238	10,463	6,908	6,710	5,938	5,160	4,676	4,364
Noninterest income
Mortgage banking revenue
2,685	-	-	-	1,672	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan servicing fees, net
-	-	-	-	-	-	-	-	-	-	70	-	107	24	-40	-4	42	40	84	60	43	81	73	88	12	-49	-19	-127	-170
Gain on sale or call of securities
1,396	34	1,493	367	149	-	-1	1	-	-	350	-	-	637	430	795	310	304	5	109	415	166	22	63	8	10	0	28	50
Service charges on deposit accounts
-	-	-	-	-	-	-	-	-	-	-	-	30	-	44	46	49	35	44	18	16	16	13	12	12	13	12	14	13
Other service charges and fees
-	-	-	-	-	-	-	-	-	-	-	-	752	-	845	767	633	657	679	690	618	628	600	313	236	250	270	301	291
Net loss on sale of loans held for investment
-416	-31	-1,758	3	-217	-	-	-	9	-	1,517	-	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
Wealth management
-	-	-	-	-	-	-	-	-	-	-	-	593	-	446	529	368	369	327	301	286	274	287	35	43	-	-	-	-
FDIC assessment expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	101	93	60
Net (loss) gain on sale of foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	3	-	30	3	3	-4	3	21	6	-124	-3	-2	33	27	-29	-31	-190
Other
-	-	-	-	-	-	-	-	-	-	-	-	189	-	179	181	72	205	193	189	184	201	407	354	293	130	369	418	371
Total noninterest income
5,893	4,573	4,793	4,923	3,486	-383	3,442	4,147	3,456	3,264	3,569	3,880	4,008	2,553	4,876	4,626	3,085	2,992	3,798	2,851	3,215	2,830	3,274	2,430	1,421	1,637	1,317	2,096	1,769
Noninterest expense
Salaries and employee benefits
12,580	13,073	11,632	11,365	14,743	13,658	10,723	10,268	9,188	9,096	9,011	9,128	8,033	7,930	7,979	7,603	6,517	6,080	6,208	6,071	5,681	5,666	6,144	3,805	3,545	3,316	3,339	3,282	3,205
Occupancy and equipment
3,086	3,313	3,360	3,283	3,113	3,216	2,933	2,885	2,594	2,530	2,399	2,195	2,095	2,064	2,001	1,755	1,807	1,628	1,683	1,699	1,579	1,491	1,443	1,009	786	802	666	668	656
FDIC assessment (income) expense
-450	-	357	-	-990	-	-1,020	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC assessment expense
-	-	-	660	-	-	-	778	660	1,005	900	1,015	760	680	570	405	413	375	362	216	214	180	181	120	119	-	-	-	-
Marketing
245	254	315	301	319	237	306	269	280	221	192	285	267	151	206	188	217	261	277	198	220	258	224	135	111	90	70	71	52
Professional fees
3,068	1,242	1,118	1,073	923	1,159	1,023	1,362	869	861	821	702	1,035	540	935	977	1,094	1,043	516	507	359	446	961	279	354	274	79	156	87
Amortization of core deposit intangible
94	107	120	132	145	157	169	182	104	110	115	121	127	-	138	144	149	-	160	167	172	-	184	-	-	-	-	-	-
Indirect expenses related to public offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	309	-	-	-	-	-	-	-	-	-
Other
2,898	2,740	2,426	2,556	2,383	2,272	2,077	2,306	1,793	2,164	1,840	1,837	1,959	2,295	1,879	1,841	1,634	2,515	1,647	1,405	1,396	1,910	1,252	730	577	578	587	582	525
Total noninterest expense
22,421	21,279	18,614	19,370	22,616	21,689	18,251	18,050	15,488	15,987	15,278	15,283	14,276	13,229	13,708	12,913	11,831	11,094	10,853	10,572	9,621	9,767	10,389	6,078	5,492	5,383	4,842	4,852	4,585
(Loss) income before income tax expense
-2,086	-7,554	13,441	5,887	3,235	3,873	11,617	12,432	12,511	10,590	12,027	12,493	11,520	9,878	10,451	10,080	9,394	7,217	7,957	4,801	5,126	4,301	3,348	3,260	2,639	2,192	1,635	1,920	1,548
Income tax (benefit) expense
-938	-2,970	2,117	706	334	122	1,068	2,263	2,459	8,188	3,138	3,619	3,586	2,699	3,314	2,572	3,161	2,553	2,807	1,667	1,994	1,466	1,333	1,225	1,110	789	625	737	583
Net (loss) income
-1,148	-4,584	11,324	5,181	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
Dividends paid on Series A preferred stock
-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	23	25	25	25	25	25	25	25	25	-	25	-	-
Earnings attributable to noncontrolling interest
0	8	0	8	0	-	-	8	-	-	-	8	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income available to common shareholders
-1,148	-4,592	11,324	5,173	2,901	3,743	10,549	10,161	10,052	2,394	8,889	8,866	7,934	7,179	7,137	7,508	6,210	4,639	5,125	3,109	3,107	2,810	1,990	2,010	1,504	1,377	985	1,158	932
(Loss) earnings per share:
Basic (in dollars per share)
-0.08	-0.31	0.77	0.35	0.20	0.24	0.73	0.71	0.76	0.18	0.67	0.68	0.61	0.60	0.67	0.70	0.59	0.44	0.49	0.30	0.39	0.34	0.26	0.41	0.31	0.28	0.27	0.32	0.26
Diluted (in dollars per share)
-0.08	-0.30	0.75	0.34	0.19	0.23	0.70	0.68	0.73	0.17	0.65	0.64	0.58	0.58	0.63	0.66	0.55	0.43	0.46	0.28	0.37	0.32	0.25	0.40	0.30	0.28	0.26	0.31	0.25
Dividend per share
-	-	-	-	-	-	-	-	0.04	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
Total noninterest income
92	83	83	77	74	66	58	51	42	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other service charges and fees
Total noninterest income
897	995	1,069	903	757	862	747	823	751	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage Banking Revenue [Member]
Total noninterest income
-	-	2,702	2,473	-	-	1,490	2,044	1,549	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wealth management
Total noninterest income
814	813	767	673	627	771	705	789	704	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of foreclosed assets
Total noninterest income
2	-2	2	3	4	82	3	3	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
Total noninterest income
423	374	435	424	420	392	440	436	398	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-