Quarterly Results Of Operations

12 Months Ended

Dec. 31, 2014

Quarterly Results Of Operations [Abstract]

Quarterly Results Of Operations

Note 21. Quarterly Results of Operations  (unaudited)

The following is a summary of the quarterly results of consolidated operations of Franklin Financial for the years ended December 31, 2014 and 2013:

(Dollars in thousands, except per share)	Three months ended
2014	March 31		June 30		September 30		December 31
Interest income	$	8,574	$	8,761	$	8,830	$	8,629
Interest expense		830		817		799		734
Net interest income		7,744		7,944		8,031		7,895
Provision for loan losses		198		266		-		300
Other noninterest income		2,380		2,641		2,788		2,791
Securities gains (losses)		-		221		(20)		59
Noninterest expense		7,688		7,615		7,748		8,251
Income before income taxes		2,238		2,925		3,051		2,194
Federal income tax expense		412		606		641		347
Net Income	$	1,826	$	2,319	$	2,410	$	1,847
Basic earnings per share	$	0.44	$	0.55	$	0.57	$	0.44
Diluted earnings per share	$	0.44	$	0.55	$	0.57	$	0.44
Dividends declared per share	$	0.17	$	0.17	$	0.17	$	0.17

(Dollars in thousands, except per share)	Three months ended
2013	March 31		June 30		September 30		December 31
Interest income	$	9,102	$	8,876	$	8,941	$	9,123
Interest expense		1,242		1,296		945		896
Net interest income		7,860		7,580		7,996		8,227
Provision for loan losses		803		803		350		965
Other noninterest income		2,384		2,422		2,529		2,584
Securities (losses) gains		-		(21)		(25)		4
Noninterest expense		7,582		7,625		7,382		8,503
Income before income taxes		1,859		1,553		2,768		1,347
Federal income tax expense		308		198		583		206
Net Income	$	1,551	$	1,355	$	2,185	$	1,141
Basic earnings per share	$	0.38	$	0.33	$	0.53	$	0.27
Diluted earnings per share	$	0.38	$	0.33	$	0.53	$	0.27
Dividends declared per share	$	0.17	$	0.17	$	0.17	$	0.17

Due to rounding, the sum of the quarters may not equal the amount reported for the year.