Franklin Financial Network, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 23, 2019 at 05:08 pm
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Franklin Financial Network, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 26.921 million compared to USD 24.608 million a year ago. Net income was USD 3.743 million compared to USD 2.394 million a year ago. Basic earnings per share was USD 0.26 compared to USD 0.18 a year ago. Diluted earnings per share was USD 0.25 compared to USD 0.17 a year ago.
For the full year, net interest income was USD 105.503 million compared to USD 97.046 million a year ago. Net income was USD 34.505 million compared to USD 28.083 million a year ago. Basic earnings per share was USD 2.44 compared to USD 2.14 a year ago. Diluted earnings per share was USD 2.34 compared to USD 2.04 a year ago.
Franklin Financial Network, Inc. is a financial holding company. Through its bank subsidiary, Franklin Synergy Bank (the Bank), a commercial bank, the Company provides a range of banking and related financial services. The Company focuses on the provision of services to small businesses, corporate entities, local governments and individuals. As of December 31, 2016, the Company operated through 12 branches in Williamson and Rutherford counties and a loan production office within the Nashville metropolitan area. The Company's loan portfolio consists of real estate loans, including construction and land development loans, commercial loans and residential loans; commercial and industrial, and consumer and other loans. The Company's investment securities portfolio consists of both securities classified as available-for-sale and securities classified as held-to-maturity. The Company's primary sources of funds include deposits.