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 (NASDAQ: FRAF) is the bank holding company for F&M Trust, a community-focused commercial bank headquartered in Chambersburg, Pennsylvania. Company news releases describe Franklin Financial as the largest independent, locally owned and operated bank holding company headquartered in Franklin County, with a network of community banking locations in several Pennsylvania counties and Washington County, Maryland.
This news page compiles announcements and updates that the Corporation provides to investors and the public. Regular items include quarterly and year-to-date financial results, highlighting net income, net interest income, loan and deposit growth, and key performance ratios such as return on average assets, return on average equity and net interest margin. These releases also discuss trends in the loan portfolio, including commercial real estate exposures in segments such as apartment buildings, hotels and motels, office buildings, land development and shopping centers.
Readers will also find updates on wealth management activities, including reported wealth management fees and assets under management, as well as commentary on noninterest income and expense drivers. Dividend declarations are a recurring topic, with the Board of Directors announcing regular quarterly cash dividends and noting changes compared to prior periods. From time to time, Franklin Financial reports on balance sheet restructuring actions, such as securities sales and reinvestment, and provides context on funding sources, deposit mix and estimated levels of FDIC-insured or collateralized deposits.
By following this news feed, investors and observers can review Franklin Financial’s public commentary on its financial performance, credit quality, capital position and community banking footprint over successive quarters, as disclosed in its own news releases and related communications.
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.