Franklin Financial Network Reports First Quarter 2020 Results
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/24/2026
- S&P 500, Nasdaq rise in choppy trading as tech steadies, Micron results in focus
- Brent hits lowest since before start of Iran war on expectations of smoother oil flows via Hormuz
- All eyes on Micron earnings tonight as sell-off raises stakes for AI memory trade
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- JPMorgan raises S&P 500 target to 7,800, says earnings revision ’unprecedented’
- Needham Starts NeoVolta (NEOV) at Buy
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports
- Campbell Soup (CPB) Declares $0.39 Quarterly Dividend; 7.7% Yield
- KKR launches Helix with over $10 billion to build AI infrastructure
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