The company, a wholly-owned subsidiary of Franklin Bank of Southfield, owns and manages more than $42.2 million of real estate mortgage assets and securities, which it purchased from Franklin Bank, its parent company. Franklin Finance Corporation is qualified as a real estate investment trust for federal income tax purposes.
Franklin Bank, at $530.8 million in assets, is the only independently owned commercial bank headquartered in Oakland County with assets between $200 million and $8 billion. The bank primarily serves small business customers in the metropolitan Detroit area via three full-service regional branches in Southfield, Birmingham and Grosse Pointe Woods, a business center branch in Southfield and a selection of alternative delivery systems.
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