Franklin Financial (NASDAQ: FRAF) highlights Q1 2026 growth, credit strength in investor deck

Rhea-AI Filing Summary

Franklin Financial Services Corporation filed an amended current report to update a furnished shareholder presentation, while also providing an investor deck used in meetings with analysts and investors. Both presentations are attached as exhibits and are furnished under Regulation FD rather than filed financial statements.

The investor materials highlight strong recent performance. For first quarter 2026, diluted EPS was $1.48, up from $0.88 a year earlier, with net income of $6.6 million. Return on average assets reached 1.20% and return on average equity was 15.13%, supported by a net interest margin of 3.53%.

At March 31, 2026, total loans were about $1.57 billion and total deposits about $1.89 billion. Asset quality indicators remained low, with nonperforming assets at 0.37% of total assets and an allowance for credit losses of 1.32% of total loans. The tangible common equity ratio was 7.42%, and wealth management assets under management were about $1.4 billion, contributing to diversified non-interest income.

Insights

Banking equity analyst

Investor deck shows improved profitability, solid credit, and growing fee business.

The presentations for Franklin Financial Services Corporation outline a community bank with improving earnings metrics. Q1 2026 EPS of $1.48, ROA of 1.20%, and ROE of 15.13% all exceed the prior year levels, helped by a higher net interest margin of 3.53%.

Credit quality appears conservative: nonperforming assets are just 0.37% of total assets and the allowance for credit losses is 1.32% of loans as of 3/31/2026. Capital ratios, including a tangible common equity ratio of 7.42%, are supported by tangible book value per share of $37.78.

Non-interest income is diversified, with wealth management assets under management at roughly $1.4B, and the bank operates a regional branch and advisory footprint in south-central Pennsylvania and northern Maryland. Subsequent periodic filings can provide more detail on how net interest margin, deposit costs, and credit metrics trend over future reporting periods.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q1 2026 EPS: $1.48 per share Q1 2026 net income: $6.6 million Net interest margin: 3.53% +5 more

8 metrics

Q1 2026 EPS $1.48 per share Diluted earnings per share for Q1 2026 vs $0.88 Q1 2025

Q1 2026 net income $6.6 million Net income of $6,637 thousand in Q1 2026

Net interest margin 3.53% Fully taxable-equivalent NIM in Q1 2026

Return on average assets 1.20% ROA for Q1 2026

Return on average equity 15.13% ROE for Q1 2026

Total loans $1,572.4 million Total loans outstanding as of March 31, 2026

Total deposits $1,889.7 million Total deposits as of March 31, 2026

Wealth management AUM $1.4 billion Assets under management as of March 31, 2026

Key Terms

net interest margin, tangible common equity ratio, nonperforming assets, allowance for credit losses, +2 more

6 terms

net interest margin financial

"Net interest margin1 (NIM) 3.53% 3.40% 3.05%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

tangible common equity ratio financial

"Tangible common equity ratio2 7.42% 7.45% 6.33%"

Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.

nonperforming assets financial

"Nonperforming assets3 (NPA) / Total assets 0.37% 0.38% 0.01%"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

allowance for credit losses financial

"Allowance for credit losses (ACL) / Total loans 1.32% 1.32% 1.27%"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

forward-looking statements regulatory

"Certain statements appearing herein which are not historical in nature are forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

non-GAAP financial

"The Corporation supplements its traditional GAAP measurements with certain non-GAAP measurements"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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Understanding 8-K Material Events →

Accepted by SEC EDGAR 05/04/2026 - 04:06 PM Learn about SEC filing dates

FAQ

What did Franklin Financial Services (FRAF) disclose in this amended 8-K/A?

Franklin Financial Services updated a previously filed current report to amend a shareholder presentation and furnish an investor presentation. Both decks, attached as Exhibits 99.1 and 99.2, provide recent financial highlights, strategy, and operating metrics but are furnished, not filed, under Regulation FD.

How did Franklin Financial Services (FRAF) perform in Q1 2026?

In Q1 2026, Franklin Financial Services reported diluted EPS of $1.48 and net income of $6.6 million. Return on average assets was 1.20% and return on average equity 15.13%, supported by a fully taxable-equivalent net interest margin of 3.53% during the quarter.

What are Franklin Financial Services’ key balance sheet figures as of March 31, 2026?

As of March 31, 2026, Franklin Financial Services reported total assets of about $2.30 billion, total loans of approximately $1.57 billion, and total deposits of roughly $1.89 billion. These figures reflect a community banking model focused on commercial real estate, commercial, and residential lending.

How strong is Franklin Financial Services’ asset quality according to the presentation?

Asset quality metrics appear conservative. As of March 31, 2026, nonperforming assets were 0.37% of total assets, nonperforming loans were 0.54% of gross loans, and the allowance for credit losses stood at 1.32% of total loans, indicating low reported problem loan levels.

What capital ratios and book value metrics did Franklin Financial Services report?

At March 31, 2026, Franklin Financial Services showed a Tier 1 common equity ratio of 11.81% and a tangible common equity ratio of 7.42%. Tangible book value per share was $37.78, up from $31.97 a year earlier, reflecting retained earnings and balance sheet growth.

How important is wealth management to Franklin Financial Services’ business model?

Wealth management is a notable contributor to non-interest income. Assets under management reached about $1.4 billion by March 31, 2026, including trust and brokerage assets. Management highlights this differentiated wealth platform as one of four strategic pillars supporting fee income and broader client relationships.

What were Franklin Financial Services’ full-year 2025 financial highlights?

For 2025, Franklin Financial Services reported EPS of $4.74 and net income of $21.2 million. Net interest margin was 3.25%, ROA 0.94%, and ROE 13.55%. Total assets were $2.24 billion, loans $1.54 billion, deposits $1.84 billion, and tangible book value per share was $37.10.

true000072364600007236462026-05-012026-05-01

1

United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report: May 1, 2026

FRANKLIN FINANCIAL SERVICES CORPORATION

(Exact name of registrant as specified in its new charter)

	Pennsylvania	001-38884	25-1440803
	(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

	1500 Nitterhouse Drive, Chambersburg, PA	17201
	(Address of principal executive office)	(Zip Code)
	Registrant's telephone number, including area code	(717) 264-6116

N/A

(Former name or former address, if changes since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨   Soliciting material pursuant to Rule 14a –12 under the Exchange Act (17 CFR 240.14a –12)

¨   Pre-commencement communications pursuant to Rule 14d – 2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨   Pre-commencement communications pursuant to Rule 13e – 4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:



Title of class	Symbol	Name of exchange on which registered
Common stock	FRAF	Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

‎

Explanatory Note

This Amendment to the Current Report on Form 8-K amends Exhibit 99.2 of the Current Report on Form 8-K filed on May 1, 2026 (the “Original Form 8-K”). No other changes have been made to the Original Form 8-K.

Item 7.01 Regulations FD Disclosure

Franklin Financial Services Corporation (“the Corporation”) is furnishing this presentation which will be presented in whole or in part, from time to time, by executives of the Corporation in one or more meetings with investors and analysts.  The presentation is attached as Exhibit 99.1 and is incorporated by reference. It is also available on the Corporation’s website at www.franklinfin.com.  

The Corporation held its annual meeting of shareholders on April 28, 2026. The shareholder presentation is attached hereto as Exhibit 99.2 and is incorporated herein by reference.



The information in this Form 8-K provided under Item 7.01, including all exhibits attached hereto, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of the Corporation under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits. The following exhibits are filed herewith:

Number Description  

99.1 Investor Presentation, dated May 1, 2026 of Franklin Financial Services

99.2 Shareholder Presentation, dated May 1, 2026 of Franklin Financial Services

104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FRANKLIN FINANCIAL SERVICES CORPORATION

By: /s/ Craig W. Best

Craig W. Best

Chief Executive Officer

By: /s/ Charles B. Carroll

Charles B. Carroll

President

Dated: May 4, 2026

Exhibit 99.1

Investor Presentation First Quarter 2026 Highlights Stock Symbol: FRAF (Nasdaq) Franklin Financial Services Corporation F&M TRUST



Certain statements appearing herein which are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements refer to a future period or periods, reflecting management’s current views as to likely future developments, and use words “may,” “will,” “expect,” “believe,” “estimate,” “anticipate,” or similar terms.  Because forward-looking statements involve certain risks, uncertainties and other factors over which Franklin Financial Services Corporation has no direct control, actual results could differ materially from those contemplated in such statements.  These factors include (but are not limited to) the following: general economic conditions, changes in interest rates, changes in the Corporation’s cost of funds, changes in government monetary policy, changes in government regulation and taxation of financial institutions, changes in the rate of inflation, changes in technology, the intensification of competition within the Corporation’s market area, and other similar factors. We caution readers not to place undue reliance on these forward-looking statements. They only reflect management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any Current Reports on Form 8-K. GAAP versus non-GAAP Presentations – The Corporation supplements its traditional GAAP measurements with certain non-GAAP measurements to evaluate its performance and to eliminate the effect of intangible assets. By eliminating intangible assets, the Corporation believes it presents a measurement that is comparable to companies that have no intangible assets or to companies that have eliminated intangible assets in similar calculations. However, not all companies may use the same calculation method for each measurement. The Efficiency Ratio measures the cost to generate one dollar of revenue. The non-GAAP measurements are not intended to be used as a substitute for the related GAAP measurements and should not be read in isolation or relied upon as a substitute for GAAP measures. The following table shows the calculation of the non-GAAP measurements. Forward Looking Statements Franklin Financial Services Corporation F&M TRUST 2



About Our Company Four Pillars of Priority Total Assets $2.3B Total Loans $1.6B LOW-COST DEPOSITS FRANCHISE: 34% deposit market share in  Franklin County WEALTH AMANGEMENT: Expanding AUM ($1.4B) of differentiated wealth management business drives non-interest income Total Deposits $1.9B Market Cap $230M ASSET QUALITY: 0.27% 5-year average NPL/Gross Loans 0.03% 5-year average Net Charge-offs IMPROVING PROFITABILITY: Q1 2026 1.20% ROA Franklin Financial Services Corporation F&M TRUST 3



1st Quarter 2026 | Financial Highlights Earnings & Profitability Q1-2026 Q4-2025 Q1-2025 Diluted earnings per share (EPS) $ 1.48 $ 1.35 $ 0.88 Net income (thousands) $ 6,637 $ 6,043 $ 3,922 Net interest margin1 (NIM) 3.53% 3.40% 3.05% Return on average assets (ROA) 1.20% 1.05% 0.72% Return on average equity (ROE) 15.13% 14.20% 10.80% Dividend per share $ 0.33 $ 0.33 $ 0.32 Balance Sheet & Capital Total loans (thousands) $ 1,572,426 $1,561,238 $ 1,456,191 Total deposits (thousands) $ 1,889,710 $1,835,772 $ 1,867,577 Common equity ratio (Tier 1) 11.81% 11.45% 10.86% Tangible common equity ratio2 7.42% 7.45% 6.33% Tangible book value per share2 $ 37.78 $ 37.10 $ 31.97 Asset Quality Nonperforming assets3 (NPA) / Total assets 0.37% 0.38% 0.01% Allowance for credit losses (ACL) / Total loans 1.32% 1.32% 1.27% Net Income $6.6 million Wealth Management AUM $1.4B ROA 1.20% ROE 15.13% EPS $1.48 NIM1 3.53% Cost of Deposits 1.52% Yield on Earning Assets1 5.28% 1 Fully taxable equivalent 2 Non-GAAP measurement.  See GAAP / Non-GAAP Reconciliation 3 Nonperforming assets = nonaccrual loans, loans 90-days past due and other real estate owned 4 Franklin Financial Services Corporation F&M TRUST



Founded in 1906, F&M Trust Operates in South-Central Pennsylvania and Northern Maryland 22 Locations Serving South Central PA and Washington County MD Primary Trade Area Expanded Trade Area Offering Wealth Management, Commercial Financing, and Residential Lending Services 5 Franklin Financial Services Corporation F&M TRUST



Experienced and Cohesive Executive Team Executive Title Years of Banking Experience Joined F&M Trust Prior Experience Craig W. Best Chief Executive Officer 42 2025 Peoples Security Bank & Trust, First Commonwealth Bank, Equitable Bank Charles B. Carroll, Jr. President & Chief Operating Officer 31 2023 S&T Bank, FirstMerit / Huntington National Bank, BBVA Compass Mark R. Hollar Senior Executive Vice President, Chief Financial Officer & Treasurer 37 1994 ValleyBank & Trust Lorie M. Heckman, CERP, CRCM Executive Vice President, Chief Risk Officer 39 1986 F&M Trust, Vice President of Compliance and Security Steven D. Butz Executive Vice President, Chief Commercial Services Officer 40 2013 PNC, Waypoint, Sovereign, Graystone Tower, Susquehanna Bank Louis J. Giustini Senior Vice President, Chief Retail Services Officer 37 2022 Hagerstown Trust, Columbia Bank, Fulton Bank Karen K. Carmack, DM Senior Vice President, Chief Human Resources Officer 30 2000 ACNB Matthew D. Weaver Senior Vice President, Chief Marketing Officer 25 2014 Susquehanna Bank, Clifton LarsonAllen, IMRE David M. Long Senior Vice President, Chief Technology Officer 18 2022 Howard Bank 6 Franklin Financial Services Corporation F&M TRUST



Net Interest Income ($thousands) Annual $44,671 $51,588 $53,637 $57,514 $69,648 3.08% 3.40% 4.70% 5.16% 5.31% 2.88% 3.11% 3.31% 2.95% 3.25% 0.24% 0.36% 1.75% 2.68% 2.50% 2021 2022 2023 2024 2025 Net interest income Interest-earning asset yield Interest-bearing liability cost Net interst margin Quarterly 5.25% 5.29% 5.28% 3.05% 3.40% 3.53% 2.64% 2.32% 2.16% $15,606 $18,612 $18,521 Q1 2025 Q4 2025 Q1 2026 1Fully taxable equivalent 7 Franklin Financial Services Corporation F&M TRUST



Diversified Non-Interest Income ($thousands) Annual 27.80% 23.00% 22.93% 23.48% 21.60% $3,231 $3,093 $3,594 $3,821 $4,437 $2,170 $1,888 $2,157 $2,279 $2,370 $2,258 $2,527 $2,492 $2,448 $2,535 $2,430 $770 $199 $565 $672 $7,111 $7,152 $7,512 $8,538 $9,169 2021 2022 2023 2024 2025 Quarterly 22.65% 20.16% 20.95% $1,082 $916 $1,018 $558 $597 $618 $605 $655 $647 $109 $260 $318 $2,215 $2,272 $2,308 Q1 2025 Q4 2025 Q1 2026 Excludes BOLI gains, gains on sale of assets, and gains on sale of securities Franklin Financial Services Corporation F&M TRUST 8



Wealth Management AUM ($thousands) $946,975 $904,523 $1,094,779 $169,290 $1,273,421 $1,271,068 $100,457 $147,454 $217,891 $109,604 $153,886 $27,509 $118,046 $116,398 $135,423 $139,872 $147,880 $145,477 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 As of 3/31/2026 Brokerage Trust New assets under management (YTD) 1 Includes assets from new and existing clients and excludes increases attributable to market appreciation. Franklin Financial Services Corporation F&M TRUST 9



Deposits by Category Deposits $74,253 $57,390 $132,446 $315,905 $224,323 $238,558 $119,908 $128,709 $105,907 $96,646 $98,124 $98,637 $579,826 $569,586 $572,058 $694,880 $771,231 $801,650 $511,969 $496,532 $454,517 $417,870 $431,843 $419,207 19% 19% 18% 16% 17% 18% $298,403 $299,231 $273,050 $290,346 $310,251 $331,658 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 As of 3/31/2026 DDA Interest checking MMA Savings Time DDA/Total deposits Cost of Deposits 4.13% 4.33% 4.77% 4.63% 4.13% 3.98% 3.83% 3.65% 2.16% 2.37% 2.46% 2.38% 2.25% 2.18% 2.02% 18.30% 1.78% 1.96% 2.06% 2.02% 1.90% 1.83% 1.68% 1.52% 1.84% 2.02% 1.89% 1.82% 1.78% 1.74% 1.63% 1.50% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Interest-bearing non-maturity deposits Certificates of deposit Total interest-bearing deposits Total Deposits Franklin Financial Services Corporation F&M TRUST 10



Diversified Loan Portfolio Annual Quarterly ($thousands) 3.86% 4.14% 5.16% 5.65% 5.84% 5.87% $6,406 $6,199 $6,815 $8,853 $9,657 $10,728 $140,669 $118,443 $115,018 $108,545 $101,958 $99,341 $225,084 $244,949 $303,749 $355,262 $422,511 $438,624 $103,874 $117,159 $127,638 $122,052 $123,541 $114,666 $522,779 $564,291 $703,767 $803,365 $903,571 $909,067 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 As of 3/31/2026 Commercial real estate Commercial 1-4 Family residential State/Mun I loans Consumer Loan yield 1Fully taxable equivalent Excludes loans held-for-sale Franklin Financial Services Corporation F&M TRUST 11



Largest Non-owner Occupied CRE Concentrations ($thousands) Annual Quarterly 234.4% 239.3% 290.7% 332.9% 349.9% 344.7% $27,042 $36,838 $63,654 $68,569 $68,241 $68,931 $30,733 $55,238 $68,303 $82,360 $87,933 $95,832 $46,811 $40,738 $58,074 $60,102 $88,884 $93,736 $70,299 $81,283 $80,670 $79,197 $102,194 $103,847 $53,599 $80,905 $103,723 $132,894 $163,356 $157,102 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 As of 3/31/2026 1Regulatory CRE concentration ratio Franklin Financial Services Corporation F&M TRUST 12



Credit Quality Nonperforming assets1 (NPA) / Total assets 0.42% 0.01% 0.01% 0.01% 0.38% 0.37% 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 3/31/2026 Allowance for credit losses / Gross loans 1.51% 1.35% 1.28% 1.26% 1.32% 1.32% 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 3/31/2026 Net (Charge-offs)Recoveries / Average loans 0.04% -0.15% -0.02% -0.03% 0.00% -0.01% 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 3/31/2026 Nonperforming loans2 / Gross loans 0.74% 0.01% 0.01% 0.02% 0.55% 0.54% 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 3/31/2026 1 Nonperforming assets = nonaccrual loans, loans 90-days past due and other real estate owned 2 Nonperforming loans = nonaccrual loans and loans 90-days past due Franklin Financial Services Corporation F&M TRUST 13



Capital 18.41% 17.21% 14.45% 13.85% 13.27% 13.66% 15.20% 14.22% 11.82% 11.31% 11.45% 11.81% 8.42% 9.26% 8.98% 7.82% 8.42% 8.43% 8.39% 8.95% 9.01% 7.92% 8.17% 8.57% 8.52% 6.22% 6.74% 6.20% 7.45% 7.42% As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 As of 3/31/2026 Risk-based capital (Total) Leverage ratio (Tier 1) Common equity ratio (Tier 1) Tangible common equity ratio (1) Tangible common equity ratio excluding AOCI(1) 1 Non-GAAP measurement.  See GAAP/Non-GAAP Reconciliation Franklin Financial Services Corporation F&M TRUST 14



Stock Symbol: FRAF (Nasdaq) www.franklinfin.com www.fmtrust.bank Investor Relations Officer Amanda Ducey 717-261-3553 amanda.ducey@f-mtrust.com Franklin Financial Services Corporation F&M TRUST



Appendix Franklin Financial Services Corporation F&M TRUST



Summary Performance Metrics Q1 2026 Q4 2025 Q1 2025 Year Ended 12/31/2025 Year Ended 12/31/2024 Year Ended 12/31/2023 Year Ended 12/31/2022 Year Ended 12/31/2021 Diluted earnings per share $ 1.48 $ 1.35 $ 0.88 $ 4.74 $ 2.51 $ 3.10 $ 3.36 $ 4.42 Net overhead ratio1 1.89% 1.88% 1.99% 1.79% 1.84% 1.94% 1.86% 1.56% Return on average assets 1.20% 1.05% 0.72% 0.94% 0.54% 0.78% 0.83% 1.17% Net interest margin2 3.53% 3.40% 3.05% 3.25% 2.95% 3.31% 3.11% 2.88% Dividend per share $ 0.33 $ 0.33 $ 0.32 $ 1.31 $ 1.28 $ 1.28 $ 1.28 $ 1.25 Market value per share $ 51.08 $ 50.20 $ 35.45 $ 50.20 $ 29.90 $ 31.55 $ 36.10 $ 33.10 Book value per share $ 39.78 $ 39.11 $ 33.99 $ 39.11 $ 32.69 $ 30.23 $ 26.01 $ 35.36 Tangible book value per share3 $ 37.78 $ 37.10 $ 31.97 $ 37.10 $ 30.65 $ 28.17 $ 23.96 $ 33.34 Market cap ($M) $ 229.50 $ 224.95 $ 157.91 $ 224.95 $ 132.37 $ 137.91 $ 158.48 $ 147.00 1 Net Overhead Ratio = (Noninterest Expense – Noninterest Income + BOLI Gains + Gain on Sale of Assets + Gains on sale of Securities) / Average Assets 2 Fully taxable equivalent 3 Non-GAAP measurement.  See GAAP / Non-GAAP Reconciliation Franklin Financial Services Corporation F&M TRUST 17



GAAP / Non-GAAP Reconciliation ($thousands) As-of 3/31/2026 As-of 3/31/2025 As-of 12/31/2025 As-of 12/31/2024 As-of 12/31/2023 As-of 12/31/2022 As-of 12/31/2021 Shareholders' equity $ 178,744 $ 151,391 $ 175,242 $ 144,716 $ 132,136 $ 114,197 $ 157,065 Less intangible assets 9,016 9,016 9,016 9,016 9,016 9,016 9,016 Tangible shareholders' equity (Non-GAAP) 169,728 142,375 166,226 135,700 123,120 105,181 148,049 Less AOCI (23,265) (31,856) (21,589) (35,508) (40,940) (51,287) (547) Tangible shareholders' equity excluding AOCI (Non-GAAP) 192,993 174,231 187,815 171,208 164,060 156,468 148,596 Total assets 2,297,518 2,257,478 2,239,018 2,197,841 1,836,039 1,699,579 1,773,806 Less intangible assets 9,016 9,016 9,016 9,016 9,016 9,016 9,016 Total tangible assets (Non-GAAP) 2,288,502 2,248,462 2,230,002 2,188,825 1,827,023 1,690,563 1,764,790 Tangible common equity ratio (Non-GAAP) 7.42% 6.33% 7.45% 6.20% 6.74% 6.22% 8.39% Tangible common equity ratio excluding AOCI (Non-GAAP) 8.43% 7.75% 8.42% 7.82% •eye 8.98% ----------- 9.26% 8.42% Shares outstanding (thousands) 4,493 4,454 4,481 4,427 4,371 4,390 4,441 Tangible book value per share (Non-GAAP) $ 37.78 $ 31.97 $ 37.10 $ 30.65 $ 28.17 $ 23.96 $ 33.34 Franklin Financial Services Corporation F&M TRUST 18

Exhibit 99.2

Corporate Headquarters – Chambersburg, PA Annual Meeting April 28, 2026 Franklin Financial Services Corporation F&M TRUST Stock Symbol: FRAF (Nasdaq)





Call to Order G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Invocation Pam Johns F&M TRUST Franklin Financial Services Corporation



Minutes of Last Meeting G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Forward Looking Statements In order to help you to better understand the business of the Company – where we have been and where we want to go – my remarks today (and those of other Company officers who will speak or respond to questions) will include forward looking statements relating to anticipated financial performance, future operating results, business prospects, new products, and similar matters. These statements represent our best judgment, based upon present circumstances and the information now available to us, of what we think may occur in the future – and, of course, it is possible that actual results may differ materially from those we envision today. For a more complete discussion on the subject of forward-looking statements, including a list of some of the risk factors that might adversely affect operating results, I refer you to the section entitled “Forward Looking Statements” which appears in our annual report on Form 10-K as filed with the Securities and Exchange Commission (SEC). F&M TRUST Franklin Financial Services Corporation



Introductions G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Board of Directors G. Warren Elliott Chairman of the Board Craig W. Best CEO F&M TRUST Franklin Financial Services Corporation



Board of Directors Martin R. Brown Kevin W. Craig Gregory A. Duffey F&M TRUST Franklin Financial Services Corporation



Board of Directors Daniel J. Fisher Stanley J. Kerlin Donald H. Mowery F&M TRUST Franklin Financial Services Corporation



Board of Directors Kimberly M. Rzomp Gregory I. Snook F&M TRUST Franklin Financial Services Corporation



Skip Jennings Director Emeritus Nick Bybel Partner, Bybel Rutledge LLP Zoe Clayton Assistant Corporate Secretary – Judge of Elections Allison Minnis Partner, Crowe LLP Ian Kandray Senior Manager, Crowe LLP F&M TRUST Franklin Financial Services Corporation



Chairman’s Remarks G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



G. Warren Elliott Chairman of the Board F&M TRUST Franklin Financial Services Corporation



F&M TRUST Franklin Financial Services Corporation CELEBRATING 120 YEARS F&M TRUST Franklin Financial Services Corporation



F&M TRUST Franklin Financial Services Corporation



F&M TRUST Franklin Financial Services Corporation



F&M TRUST Franklin Financial Services Corporation



The failure of 1,043 of savings and loans associations from 1986 to 1995 F&M TRUST Franklin Financial Services Corporation



Mission Statement Delivering the right financial solutions from people you know and trust. Vision We are committed to remaining independent by growing our bank to meet the increasing needs of our employees, customers, communities, and shareholders. We strive to be a financial services leader in the markets we serve. Core Values The employees, officers, and directors are committed to the core values of integrity, teamwork, excellence, accountability, and concern for our customers and the communities we serve. F&M TRUST Franklin Financial Services Corporation



23 Locations Serving South Central PA and Washington County MD Primary Trade Area Expanded Trade Area Offering Wealth Management, Commercial Financing, and Residential Lending Services F&M TRUST Franklin Financial Services Corporation



Charles (Chad) B. Carroll, Jr. President & COO F&M TRUST Franklin Financial Services Corporation



Craig W. Best CEO F&M TRUST Franklin Financial Services Corporation



F&M TRUST



Election of Directors G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Craig W. Best G. Warren Elliott Stanley J. Kerlin Kimberly M. Rzomp F&M TRUST Franklin Financial Services Corporation



Say-On-Pay Vote G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Ratification of Auditors G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Polls Open G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Financial Overview Mark R. Hollar, Chief Financial Officer F&M TRUST Franklin Financial Services Corporation



2025 Financial Highlights Dollars in Thousands (000’s), Except Per Share 2025 2024 Earnings and Profitability Earnings Per Share $4.74 $2.51 Net Income $21,226 $11,099 Net Interest Margin 3.25% 2.95% Return on Average Assets (ROA) 0.94% 0.54% Return on Average Equity (ROE) 13.55% 8.05% Dividends per Share $1.31 $1.28 Balance Sheet and Capital Total Assets $2,239,018 $2,197,841 Total Loans (Net) $1,540,583 $1,380,424 Total Deposits $1,835,772 $1,815,647 Tangible Common Equity Ratio1 7.45% 6.20% Tangible Book Value per Share1 $37.10 $30.65 Asset Quality Nonperforming Assets / Total Assets 0.38% 0.01% Allowance for Credit Loss as % of Loans 1.32% 1.26% 1Non-GAAP – See non-GAAP reconciliation F&M TRUST Franklin Financial Services Corporation



Diversified Loan Portfolio Loans Outstanding1 $5,577 $6,406 $6,199 $6,815 $8,853 $9,657 $145,279 $140,669 $118,443 $115,018 $108,545 $101,958 $209,335 4.05% $212,705 3.86% $232,093 4.14% $291,686 5.16% $343,577 5.65% $397,995 5.84% $135,978 $103,874 $117,159 $127,636 $122,052 $123,541 $177,029 $165,226 $158,980 $168,391 $153,694 $166,606 $336,506 $67,763 $369,932 $69,900 $418,167 $70,609 $547,439 $97,811 $661,356 $107,167 $761,481 $100,782 As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 Non Owner-Occupied CRE Owner-Occupied CRE Commercial 1-4 Family Sate/ Muni Loans Consumer Purchased Participations Loan Yield 1Excludes loans held-for-sale; 2Purchased participations are included as part of the loans outstanding; 3Year-to-date, fully tax equivalent F&M TRUST Franklin Financial Services Corporation



Deposits by Category $76,165 $74,253 $57,390 $132,446 $315,905 $224,323 $409,178 $511,969 $496,532 $454,517 $417,870 $431,843 $610,170 11.1% $699,734 9.0% $698,295 8.5% $677,965 8.9% $791,526 15.4% $869,355 13.1% $259,060 $298,403 $299,231 $273,050 $8,677 $290,346 $87,057 $310,251 $22,057 Non-Interest Bearing Checking MMA & Savings Inte4rest Bearing Checking Time Time-Brokered Total Uninsured / Uncollateralized 1Brokered deposits are included as part of time deposits F&M TRUST Franklin Financial Services Corporation



Net Interest Income $41,961.00 $44,671.00 $51,586.00 $53,637.00 $57,514.00 $69,646.00 3.51% 3.06% 3.40% 4.70% 5.16% 5.31% 3.21% 2.88% 3.11% 3.31% 2.95% 3.25% 0.39% 0.24% 0.36% 1.75% 2.68% 2.50% 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Net Interest Income Asset Yield Liability Cost Net interest margins 1For the year ended; 2Fully tax equivalent F&M TRUST Franklin Financial Services Corporation



Diversified Income Non-Interest Income1 25.83% 29.46% 22.54% 22.57% 23.28% 21.59% $3,658.00 $5,392.00 $3,024.00 $3,610.00 $4,116.00 $4,430.00 $1,844.00 $2,170.00 $1,868.00 $2,157.00 $2,279.00 $2,370.00 $1,977.00 $2,258.00 $2,527.00 $2,492.00 $2,448.00 $2,535.00 $1,536.00 $2,430.00 $770.00 $199.00 $565.00 $672.00 $6,040.00 $7,111.00 $7,152.00 $7,512.00 $8,538.00 $9,169.00 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Wealth Management Fees Gain on Sale of Loans Deposit Service Fees Debit Card Income Other Non-Interest Income/Total Revenue 1Excludes net gains / (losses) on sales of debt securities F&M TRUST Franklin Financial Services Corporation



Wealth Management $836,382.00 $946,975.00 $904,323.00 $1,094,779.00 $1,169,290.00 $1,273,421.00 $112,624.00 $60,060.00 $118,046.00 $100,457.00 $116,398.00 $147,454.00 $135,423.00 $217,891.00 $139,872.00 $109,604.00 $147,880.00 $153,866.00 As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 12/31/2025 Brokerage Trust New Assets under Management (YTD) F&M TRUST Franklin Financial Services Corporation



Shareholder Return $247.07 $225.82 $187.14 $185.24 Franklin Financial Services Corporation NASDAQ Composite Index S&P U.S. MBI Banks – Mid-Atlantic Region Index Peer Group Source: S&P Global Market Intelligence F&M TRUST Franklin Financial Services Corporation



Net Income and Dividend Trend $3,922 $5,908 $5,354 $6,043 $6,637 $0.32 $0.33 $0.33 $0.33 $0.33 $0.34 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net Income ($ 000’s) Dividend (per share) F&M TRUST Franklin Financial Services Corporation



GAAP / Non-GAAP Reconciliation 2025 2024 Tangible Book Value (Per Share) (Non-GAAP) Shareholders’ Equity $ 175,242 $ 144,716 Less Intangible Assets (9,016) (9,016) Shareholders’ Equity (Non-GAAP) $ 166,226 $ 135,700 Shares Outstanding (In Thousands) 4,481 4,427 Book Value Per Share $ 39.11 $ 32.69 Tangible Book Value Per Share (Non-GAAP) $ 37.10 $ 30.65 Tangible Common Equity Ratio (Non-GAAP) Total Assets $ 2,239,018 $ 2,197,841 Less Intangible Assets (9,016) (9,016) Total Tangible Assets (Non-GAAP) $ 2,230,002 $ 2,188,825 Tangible Common Equity Ratio (Non-GAAP) 7.45% 6.20% F&M TRUST Franklin Financial Services Corporation



CEO’s Remarks Craig W. Best F&M TRUST Franklin Financial Services Corporation



Craig W. Best CEO F&M TRUST Franklin Financial Services Corporation



Questions G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Polls Closed G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Report by Judge of Election Zoe R. Clayton F&M TRUST Franklin Financial Services Corporation



Announcement G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Thank You G. Warren Elliott F&M TRUST Franklin Financial Services Corporation



Meeting Adjourned Stock Symbol: FRAF (Nasdaq) www.franklinfin.com www.fmtrust.bank

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 153.2 KB
• EX-99.2 EX-99.2 138.6 KB

Other Documents

• EX-101 EX-101.SCH 2.4 KB
• EX-101 EX-101.LAB 14.1 KB
• EX-101 EX-101.PRE 10.8 KB