<PAGE> 1
FORM 10-QSB/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended June 30, 1997
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Commission File Number 0-18748
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Franklin American Corporation
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(Name of Small Business Issuer in Its Charter)
Tennessee 62-1365451
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(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
377 Riverside Drive, Franklin, Tennessee 37064
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(Address of Principal Executive Offices) (Zip Code)
(615) 790-0464
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(Issuer's Telephone Number, Including Area Code)
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(Former Name, Former Address and Former Fiscal Year, If Changed Since Last
Report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
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As of September 30, 1997 there were outstanding 14,426,096 shares of Issuer's
common stock, no par value per share including 162,350 shares of treasury
stock.
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FRANKLIN AMERICAN CORPORATION
Index
<TABLE>
<CAPTION>
Page
<S> <C> <C>
Part I. Financial Information
Item 1. Consolidated Balance Sheets 2
Consolidated Statements of Operations 3
Consolidated Statements of Cash Flows 4
Notes to Consolidated Financial
Statements 6
Item 2. Management's Discussion and Analysis
of Financial Condition and Results
of Operations 8
Part II. Other Information 10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 7
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997<F1>
<PERIOD-END> JUN-30-1997
<DEBT-HELD-FOR-SALE> 95,059
<DEBT-CARRYING-VALUE> 1,765
<DEBT-MARKET-VALUE> 1,776
<EQUITIES> 0
<MORTGAGE> 0
<REAL-ESTATE> 0
<TOTAL-INVEST> 97,531
<CASH> 1,616
<RECOVER-REINSURE> 0
<DEFERRED-ACQUISITION> 3,500
<TOTAL-ASSETS> 112,834
<POLICY-LOSSES> 66,852
<UNEARNED-PREMIUMS> 0
<POLICY-OTHER> 516
<POLICY-HOLDER-FUNDS> 0
<NOTES-PAYABLE> 0
0
0
<COMMON> 31,738
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 112,834
7,830
<INVESTMENT-INCOME> 2,998
<INVESTMENT-GAINS> 2,675
<OTHER-INCOME> 235
<BENEFITS> 2,369
<UNDERWRITING-AMORTIZATION> 1,110
<UNDERWRITING-OTHER> 0
<INCOME-PRETAX> 2,609
<INCOME-TAX> 370
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 2,239
<EPS-PRIMARY> 0.15
<EPS-DILUTED> 0
<RESERVE-OPEN> 0
<PROVISION-CURRENT> 0
<PROVISION-PRIOR> 0
<PAYMENTS-CURRENT> 0
<PAYMENTS-PRIOR> 0
<RESERVE-CLOSE> 0
<CUMULATIVE-DEFICIENCY> 0
<FN>
<F1>THIS REVISION IS TO THE FINANCIAL DATA SCHEDULE ONLY. THE FORM 10-QSB FOR JUNE
30, 1997 WAS CORRECT AND DOES NOT NEED TO BE CHANGED.
</FN>
</TABLE>
