Franklin Financial Services Corp. - FRAF STOCK NEWS

Franklin Financial Services Corporation (FRAF) reported its fourth quarter 2023 and year-to-date 2023 financial results, with net income decreasing by 10.1% in the fourth quarter and 7.7% year-to-date compared to the same period in 2022. The provision for credit losses, total net loans, and total deposits were also highlighted. Return on Average Assets (ROA), Return on Average Equity (ROE), and the Net Interest Margin (NIM) were provided for comparison to the same period in 2022. The Board of Directors declared a $0.32 per share regular quarterly cash dividend for the first quarter of 2024. Total assets, net loans, total deposits, and shareholders' equity were detailed in the balance sheet highlights. The Corporation's common stock book value and tangible book value were also provided. The average balance of interest-earning cash balances, the investment portfolio, and the loan portfolio were compared to the prior year averages. Net interest income, the net interest margin, and the provision for credit losses were highlighted in the income statement. Noninterest income and noninterest expense were detailed, along with the effective federal income tax rate. The President and CEO's statement and additional information about the Corporation were also included.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported its Q3 2023 and year-to-date financial results. Net income for Q3 2023 was $3.9 million, an increase of 22.9% from Q2 2023, but a decrease of 16.7% from Q3 2022. Net income year-to-date for 2023 was $10.1 million, a decrease of 9.7% from the same period in 2022. Total net loans increased 5.4% from Q2 2023 and 14.9% from December 31, 2022. Total deposits increased 3.6% from Q2 2023 and 1.0% from December 31, 2022. Return on Average Assets (ROA) for the year-to-date period was 0.78%. Return on Average Equity (ROE) was 11.25% and the Net Interest Margin (NIM) was 3.33%. The Board of Directors declared a $0.32 per share regular quarterly cash dividend for Q4 2023.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported its Q2 2023 and YTD 2023 results. Net income for Q2 2023 was $3.0 million, a decrease of 9.6% from Q1 2023. Year-to-date net income was $6.3 million, a decrease of 4.9% compared to the same period in 2022. Total net loans increased 9.0% to $1.131 billion. Total deposits decreased 2.5% to $1.513 billion. Shareholder equity increased by $5.6 million to $119.8 million. Return on Assets (ROA) for YTD 2023 was 0.75%, compared to 0.74% in 2022. The Board of Directors declared a $0.32 per share cash dividend for Q3 2023.