Annual Report

Growing to serve the urban community.
 

2005 Statement of Condition

Message from the President

On behalf of the shareholders and employees, I am please to report on Franklin Bank’s activities and financial condition for the year ending December 31, 2005.

We ended 2005 with total assets of $122,728,000. Our small business and non-profit customers continue to be the cornerstone of our lending activity, which ended at $87,173,000 for the year. We had a very successful year with deposit growth, reporting a 20% increase over the previous year to end the year at $106,108,000. This far exceeded our industry peers’ average of 6-10%.
 
Equal to our financial success are other noteworthy accomplishments. We've offered new opportunities to small business including fast business funding and top-tier credit card processing services. Our mission of being “The Leader in Improving Our Urban Community” continues to bring us opportunities to forge new relationships with key community partners – public and private – to build affordable housing, create livable wage jobs through supporting small businesses and assist in youth development initiatives.
 
For 17 years, we have participated in the MN Keystone Program, in which we contributed cash and services totaling over 5% of our pre-tax earnings to social and charitable organizations in our community to help improve the quality of life for our inner city residents. In addition, we took special initiatives to help the victims of hurricanes Katrina and Rita. I would like to thank all of you who contributed to those efforts.