Franklin Finl Svcs Corp Stock Price, News & Analysis

Franklin Financial Services Corporation (NASDAQ: FRAF) reported third-quarter earnings of $4.6 million ($1.05 per diluted share) for Q3 2022, down from $5.9 million ($1.31 per diluted share) in Q3 2021. Year-to-date earnings totaled $11.2 million ($2.52 per diluted share), significantly lower than $16.0 million ($3.60 per diluted share) in 2021. Net interest income increased to $14.1 million, boosted by a rise in net interest margin to 3.28%. However, noninterest income fell by 40.7% year-over-year. The company maintains a solid capital position despite a decrease in shareholders' equity attributed to declining fair value in the investment portfolio.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported second-quarter 2022 earnings of $3.6 million ($0.80 per diluted share), a 19% increase from Q1 but down 32% from Q2 2021's $5.3 million ($1.19 per diluted share). Year-to-date earnings fell 35% to $6.6 million ($1.47 per diluted share). Net interest income rose to $12.1 million from $10.8 million YoY. The net interest margin increased to 2.90% compared to 2.82% in Q2 2021. Noninterest income decreased to $4.1 million, while noninterest expenses rose 14.9% to $12.0 million. Total assets grew to $1.832 billion, but shareholders' equity fell by $35.3 million.

Franklin Financial Services Corporation (NASDAQ: FRAF) announced Q1 2022 earnings of $3.0 million ($0.67 per diluted share), down from $3.7 million ($0.82) in Q4 2021 and $4.8 million ($1.09) in Q1 2021. Net interest income was $10.8 million versus $11.4 million in Q4 2021. The net interest margin fell to 2.66%, down from 2.79% in the previous quarter. Total deposits averaged $1.6 billion, a 13.8% increase year-over-year. The company declared a $0.32 per share dividend for Q2 2022, unchanged from the previous quarter.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported fourth-quarter earnings of $3.7 million ($0.82 per diluted share) for the period ending December 31, 2021, down from $4.6 million ($1.04) a year prior. Year-to-date earnings surged to $19.6 million ($4.42 per diluted share), boosted by a $1.8 million one-time gain from the sale of the Bank's headquarters. Net interest income for Q4 was $11.4 million, with a net interest margin decrease to 2.79%. The company declared a $0.32 quarterly dividend for Q1 2022, maintaining its prior dividend level.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported a significant increase in consolidated earnings, reaching $5.9 million ($1.31 per diluted share) for Q3 2021, up from $3.5 million ($0.79 per diluted share) in Q3 2020. Year-to-date earnings totaled $16.0 million ($3.60 per diluted share), a substantial increase from $8.2 million ($1.89 per diluted share) in the same period of 2020. The net interest income for Q3 was $11.6 million, reflecting a year-over-year increase. The board declared a $0.32 cash dividend for Q4 2021, consistent with prior payments.

On July 29, 2021, Franklin Financial Services Corporation (NASDAQ: FRAF) announced the acquisition of a 67,000 square-foot facility in Chambersburg for $7 million, which will serve as F&M Trust’s new headquarters. The bank sold its previous headquarters for $3.3 million and plans to invest $8.7 million in renovations, expecting a pre-tax gain of $1.8 million from the sale. The project was delayed due to the pandemic but is now moving forward to support future growth, housing approximately 145 employees with potential for expansion.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported a strong financial performance for Q2 2021, with consolidated earnings of $5.3 million ($1.19 per diluted share), an increase from $3.1 million ($0.71 per diluted share) in Q2 2020. Year-to-date net income reached $10.1 million ($2.28 per diluted share), up from $4.8 million in 2020. Net interest income remained stable at $10.8 million, while net interest margin decreased to 2.82%. The provision for loan losses showed a reversal of $1.1 million, indicating improved loan quality. The Board declared a $0.32 dividend for Q3 2021, a 3.2% increase from Q2 2021.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported first quarter earnings of $4.8 million ($1.09 per diluted share) for Q1 2021, up from $1.7 million ($0.39 per diluted share) in Q1 2020.

Net interest income increased to $10.8 million, although the net interest margin declined to 3.03%. The provision for loan loss expense reversed to ($800) thousand from a $3.0 million expense in the previous year. Total assets rose to $1.598 billion, and noninterest income grew to $4.2 million. A $0.31 cash dividend was declared for Q2 2021, reflecting a 3.3% increase.

Franklin Financial Services Corporation (NASDAQ: FRAF) reported fourth-quarter earnings of $4.6 million, or $1.04 per diluted share, with a full year net income of $12.8 million for 2020. This marks a decrease from the previous year's earnings of $16.1 million. Net interest income rose to $11.0 million, but the margin fell to 3.08%. The average loan portfolio increased due to Paycheck Protection Program (PPP) loans totaling $52.3 million. The bank's total assets reached $1.535 billion, and deposits rose by 20.3%. A quarterly cash dividend of $0.30 per share was declared for Q1 2021.