Franklin Financial Network, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, consolidated net income available to common shareholders was $4.7 million, a 64.5% increase compared to $2.8 million for the fourth quarter of 2014. Basic earnings per common share for the quarter ending December 31, 2015 totaled $0.44, a 22.2% increase compared to $0.36 for the same period in 2014. Basic earnings per common share were down slightly compared to $0.49 for third quarter of 2015, which included $1.2 million of pre-tax income related to the payoff of a purchased credit-impaired loan relationship. On a fully diluted basis, earnings per share were $0.41 for the quarter ended December 31, 2015, compared to $0.34 for the quarter ended December 31, 2014, an increase of 20.6%. Net income before taxes was $7.217 million against $4.301 million a year ago. Net interest income was $17.195 million against $12.123 million a year ago. Return on average assets was 0.89% against 0.88% a year ago. Return on average equity was 9.82% against 9.40% a year ago. Tangible book value per share as at December 31, 2015 was $15.85 against $12.88 per share a year ago.

For the year end, the company reported consolidated net income available to common shareholders of $16.1 million, an increase of 91.1% over $8.4 million for the same period in 2014. Basic earnings per common share for the year ended December 31, 2015 totaled $1.62, a 22.7% increase compared to $1.32 for the same period in 2014. For the year ended December 31, 2015, fully diluted earnings per share were $1.54, an increase of 21.3%, compared to $1.27 for the year ended December 31, 2014. Net income before taxes was $25.101 million against $13.548 million a year ago. Net interest income was $59.415 million against $37.693 million a year ago. The primary driver of increased net interest income was continued growth in earning assets (loans and investment securities).