Franklin Financial Network, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net interest income was $21,699,000 against $17,195,000 a year ago. Income before income tax expense was $9,878,000 against $7,217,000 a year ago. Net income available to common shareholders was $7,179,000 against $4,639,000 a year ago. Diluted earnings per share was $0.58 against $0.41 per share a year ago. Earnings before interest and taxes was $15,515,000 against $10,103,000 a year ago. Return on average assets was 1% against 0.89% a year ago. Return on average equity was 12.10% against 9.82% a year ago. Return on average tangible common equity was 12.68% against 11.01% a year ago. The increase in earnings per diluted share is subsequent to an 11.6% increase in weighted average diluted shares outstanding due primarily to the company's public offering of common stock in November 2016. The growth in net interest income resulted from strong growth in interest earning assets, partly offset by a slight decrease in yield on interest earning assets, reflecting, in part, an increase in tax-exempt municipal debt in the securities portfolio. The resulting growth in interest income was somewhat offset by the growth and change in mix of funding sources as well as a significantly increased average rate on interest-bearing liabilities, which included the issuance of $60 million of subordinated notes during 2016. For the year, the company reported net interest income was $81,584,000 against $59,415,000 a year ago. Income before income tax expense was $39,803,000 against $25,101,000 a year ago. Net income available to common shareholders was $28,034,000 against $15,980,000 a year ago. Diluted earnings per share was $2.42 against $1.54 per share a year ago. As on date, book value per share was $20.73 against $16.92 per share a year ago. As on date, tangible book value per share was $19.91 against $15.85 per share a year ago. Results for 2016 included an excess tax benefit of $1.0 million, or $0.08 per diluted share, from the exercise of nonqualified stock options and the vesting of restricted stock related to the retrospective adoption of a new accounting standards update.