Exhibit 99.1
 ffn1.jpg
  
Franklin Financial Network Reports 2019 Fourth Quarter Results
Strategic Merger Agreement Signed with FB Financial Corporation
Net Interest Margin 3.12%, 14 Basis Point Expansion from Previous Quarter
Earnings per Diluted Common Share of $0.64
FRANKLIN, Tennessee, January 21, 2020 (BUSINESS WIRE) -- Franklin Financial Network, Inc. (the "Company") (NYSE: FSB), parent company of Franklin Synergy Bank (the "Bank"), today announced a merger with FB Financial Corporation. The details of the merger are contained within a joint press release issued by the two companies today. The Company reported net income of $9.7 million, or $0.64 per diluted common share, for the quarter-ended December 31, 2019, compared to $3.8 million, or $0.25 per diluted common share, for the quarter-ended December 31, 2018.
The Company reported net income of $29.1 million, or $1.93 per diluted common share, for the year-ended December 31, 2019, compared to $34.5 million, or $2.34 per diluted common share, for the year-ended December 31, 2018.
Core net income for the quarter-ended December 31, 2019 was $10.2 million, or $0.68 per diluted common share, compared to $9.2 million, or $0.61 per diluted common share, for the quarter-ended December 31, 2018. Core pre-tax pre-provision profit was $12.4 million for the quarter-ended December 31, 2019, an increase of 2.1% from the quarter-ended December 31, 2018.
Chief Executive Officer, J. Myers Jones, III, stated, “We are very pleased with the Company’s results for the fourth quarter and for the full year of 2019. These results can be directly attributed to the hard work that our entire team has done over the course of the past year to unlock the Bank’s core value through the success of various strategic initiatives such as balance sheet rotation and optimization, reduction of non-core banking activities, and a multitude of operational efficiency improvements. As we look ahead, we are very excited to announce that we will be joining our partners at FirstBank to continue to build a phenomenal middle Tennessee-headquartered bank and look forward to years of growing together, with our shared passion and focus on our customers, employees, communities, and shareholders.”
Fourth Quarter and Full 2019 Key Highlights

Net interest margin (tax-equivalent basis) improved to 3.12%, an expansion of 14 basis points from last quarter and 43 basis points year-over-year
During the full year 2019, the securities portfolio and wholesale funding portfolio were reduced by $500.2 million and $379.1 million respectively as part of the bank’s optimization and deleveraging of the non-core balance sheet
Securities to total assets declined to 16.7% as of December 31, 2019, down from 27.1% at December 31, 2018
$112.4 million year-over-year reduction in the SNC portfolio to a balance of $136.7 million, representing 4.9% of loans HFI and a 45.1% year-over-year decrease.
Core deposit growth of $65.5 million, or 12.2% annualized from the third quarter of 2019 and $337.3 million, or 18.2% from the fourth quarter of 2018
Tangible book value per share of $27.39, up 11.7% annualized and 12.6% year-over-year



The following information was filed by Franklin Financial Network Inc. (FSB) on Tuesday, January 21, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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