Franklin Financial Network Reports First Quarter 2020 Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 7/5/2026
- Dow jumps to record closing high after soft US jobs data, Nasdaq down with chip shares
- Goldman's Garrett sees investors dialing back tech exposure into H2
- AI chip winners may face tougher road ahead as hyperscalers catch up: JPM
- Oil gains on short-covering buys ahead of US holiday
- Rivian stock jumps 5% on raised delivery outlook
Franklin Financial Network (FSB) Misses Q1 EPS by 68c
April 27, 2020 4:38 PM EDTFranklin Financial Network (NYSE: FSB) reported Q1 EPS of ($0.04), $0.68 worse than the analyst estimate of $0.64.
First Quarter Key Highlights
Loan growth of $43.3 million or 6.2% annualized from December 31, 2019Core deposit growth of $67.8 million, or 85.4% annualized from the fourth quarter of 2019 and $82.3 million, or 27.0% from the first quarter of 2019$123.0 million year-over-year reduction in the SNC portfolio to a balance of $105.5 million, representing 3.7% of loans held for investment (HFI) and a 54.0% year-over-year decreaseIn accordance with the CARES Act passed in March 2020, the Company deferred the implementation of the current expected credit loss (CECL)... More