Franklin Synergy posts 18th consecutive profitable quarter
Franklin Financial Network, Inc., the parent of Franklin Synergy Bank, reported consolidated net income of $1.2 million for the second quarter of 2013, a 50.4% percent compared with $798,000 for the second quarter of 2012. Basic earnings per common share for the quarter ending June 30, 2013, totaled 32 cents versus 20 cents for the same period in 2012, an increase of 60%.
On a year-to-date basis, consolidated net income for Franklin Financial Network was $2.1 million, an increase of 31.3 percent over the same period in 2012. On a per share basis, year- to-date was 58 cents in 2013, compared to 40 cents in 2012, an increase of 45% percent.
“This is our eighteenth consecutive profitable quarter at Franklin Synergy Bank,” noted Richard Herrington, Franklin Financial Network president. “We are pleased to report another quarter of solid results as we continue to seek opportunities to deliver value to our shareholders.”
Posted on: 7/30/2013