Welcome to our dedicated page for Franklin Finl Svcs news (Ticker: FRAF), a resource for investors and traders seeking the latest updates and insights on Franklin Finl Svcs stock.
Franklin Financial Services Corporation reports recurring developments for its role as the bank holding company of F&M Trust, a community bank headquartered in Chambersburg, Pennsylvania. Company news centers on quarterly and annual operating results, cash dividends, asset, loan and deposit trends, net interest margin, credit-related items, shareholders’ equity, and capital actions such as common stock repurchases.
Coverage also reflects F&M Trust’s banking, wealth management, trust and fiduciary services for individuals, businesses and governmental entities. Updates commonly describe the bank’s community banking footprint in Pennsylvania and Maryland markets, wealth management fees, regulatory capital status, board actions and executive leadership changes.
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.
Franklin Financial Services Corporation (NASDAQ: FRAF) reported Q3 2020 earnings of $3.5 million ($0.79 per diluted share), up from $3.1 million in Q2 2020 but down from $4.5 million in Q3 2019. Year-to-date earnings dropped to $8.2 million ($1.89 per diluted share) compared to $11.7 million ($2.66) in 2019. Net interest income for Q3 was $10.4 million, down from $10.8 million in Q3 2019. Total assets increased to $1.511 billion from $1.269 billion at year-end 2019. The provision for loan loss expense rose significantly due to COVID-19 impacts, while noninterest income saw a marginal increase.
Franklin Financial Services Corporation (NASDAQ: FRAF) reported consolidated earnings of $3.1 million ($0.71 per diluted share) for Q2 2020, marking a decline from $4.0 million ($0.90 per diluted share) in Q2 2019. Year-to-date earnings were $4.8 million ($1.10 per diluted share), down from $7.2 million in the prior year. Net interest income for Q2 was $10.3 million, a slight decrease from $10.6 million in Q2 2019, with a net interest margin decline from 3.74% to 3.26%. The bank established a $2.0 million provision for loan losses amid COVID-19 impacts. Total assets increased to $1.423 billion.