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1St Franklin Financial Corp (38723) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

1St Franklin Financial Corp

CIK: 38723
Document and Entity Information - $ / shares
6 Months Ended
Jul. 31, 2019
Jun. 30, 2020
Registrant CIK 0000038723
Fiscal Year End --12-31
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Jun. 30, 2020
Document Transition Report false
Entity File Number 2-27985
Entity Registrant Name 1st Franklin Financial Corporation
Entity Incorporation, State or Country Code GA
Entity Tax Identification Number 58-0521233
Entity Address, Address Line One 135 East Tugalo Street
Entity Address, Address Line Two Post Office Box 880
Entity Address, City or Town Toccoa
Entity Address, State or Province GA
Entity Address, Postal Zip Code 30577
City Area Code 706
Local Phone Number 886-7571
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Non-accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Amendment Flag false
Document Fiscal Year Focus 2020
Document Fiscal Period Focus Q2
Voting Common Stock  
Entity Listing, Par Value Per Share$ 100 
Entity Common Stock, Shares Outstanding1,700 
Nonvoting Common Stock  
Entity Listing, Par Value Per Share$ 0 
Entity Common Stock, Shares Outstanding168,300 

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Definitive Proxy Statement (Form DEF 14A)
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1St Franklin Financial Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Financial Position (Unaudited)
Condensed Consolidated Statements Of Financial Position (Unaudited) - Parenthetical
Condensed Consolidated Statements Of Income (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited) - Parenthetical
Consolidated Statements Of Stockholders' Equity (Unaudited)
Note 1 - Basis Of Presentation
Note 1 - Basis Of Presentation: Recent Accounting Pronouncements (Policies)
Note 1 - Basis Of Presentation: Recent Accounting Pronouncements: Schedule Of Impact Of Adopting Asu 2016-13 And Details How Outstanding Loan Balances Have Been Reclassified (Details)
Note 1 - Basis Of Presentation: Recent Accounting Pronouncements: Schedule Of Impact Of Adopting Asu 2016-13 And Details How Outstanding Loan Balances Have Been Reclassified (Tables)
Note 1 - Basis Of Presentation: Schedule Of Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Details)
Note 1 - Basis Of Presentation: Schedule Of Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Tables)
Note 10 - Segment Financial Information
Note 10 - Segment Financial Information: Schedule Of Segment Reporting Information, By Segment (Details)
Note 10 - Segment Financial Information: Schedule Of Segment Reporting Information, By Segment (Tables)
Note 2 - Allowance For Credit Losses
Note 2 - Allowance For Credit Losses (Details)
Note 2 - Allowance For Credit Losses: Allowance For Credit Losses On Financing Receivables (Details)
Note 2 - Allowance For Credit Losses: Allowance For Credit Losses On Financing Receivables (Tables)
Note 2 - Allowance For Credit Losses: Past Due Financing Receivables (Details)
Note 2 - Allowance For Credit Losses: Past Due Financing Receivables (Tables)
Note 2 - Allowance For Credit Losses: Schedule Of Allowance For Loan Losses (Details)
Note 2 - Allowance For Credit Losses: Schedule Of Allowance For Loan Losses (Tables)
Note 2 - Allowance For Credit Losses: Schedule Of Net Balance (Principal Balance Less Unearned Finance Charges And Unearned Insurance) In Consumer And Residential Loans (Details)
Note 2 - Allowance For Credit Losses: Schedule Of Net Balance (Principal Balance Less Unearned Finance Charges And Unearned Insurance) In Consumer And Residential Loans (Tables)
Note 2 - Allowance For Credit Losses: Troubled Debt Restructurings On Financing Receivables (Details)
Note 2 - Allowance For Credit Losses: Troubled Debt Restructurings On Financing Receivables (Tables)
Note 3 - Investment Securities
Note 3 - Investment Securities (Details)
Note 3 - Investment Securities: Schedule Of Amortized Cost And Estimated Fair Values Of Debt Securities (Details)
Note 3 - Investment Securities: Schedule Of Amortized Cost And Estimated Fair Values Of Debt Securities (Tables)
Note 3 - Investment Securities: Schedule Of Investment Securities Fair Value And Unrealized Losses (Details)
Note 3 - Investment Securities: Schedule Of Investment Securities Fair Value And Unrealized Losses (Tables)
Note 4 - Fair Value
Note 4 - Fair Value: Fair Value Measurements, By Fair Value Hierarchy (Details)
Note 4 - Fair Value: Fair Value Measurements, By Fair Value Hierarchy (Tables)
Note 5 - Leases
Note 5 - Leases: Schedule Of Lease Expense And Other Information (Details)
Note 5 - Leases: Schedule Of Lease Expense And Other Information (Tables)
Note 6 - Commitments And Contingencies
Note 7 - Income Taxes
Note 7 - Income Taxes (Details)
Note 8 - Credit Agreement
Note 8 - Credit Agreement (Details)
Note 9 - Related Party Transactions
Note 9 - Related Party Transactions (Details)

Material Contracts, Statements, Certifications & more

1St Franklin Financial Corp provided additional information to their SEC Filing as exhibits

CIK: 38723
Form Type: 10-Q Quarterly Report
Accession Number: 0001376474-20-000195
Submitted to the SEC: Fri Aug 14 2020 8:39:26 AM EST
Accepted by the SEC: Fri Aug 14 2020
Period: Tuesday, June 30, 2020
Industry: Personal Credit Institutions

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