FRANKLIN FINANCIAL SERVICES CORP /PA/

Listed Company

FRAFCIK 0000723646NasdaqAcceleratedSmaller ReportingState Commercial BanksPennsylvaniaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$21.23M

Total Assets

$2.24B

Equity

$175.24M

Shares Out

4.48M

Op. Cash Flow

$25.44M

Business

FRANKLIN FINANCIAL SERVICES CORP /PA/ is a registered bank holding company that conducts substantially all of its operations through its wholly owned banking subsidiary, F&M Trust, providing community banking and trust services. The company offers deposit accounts, consumer and commercial lending (including residential and commercial real estate, construction and consumer loans), wealth management, trust administration, and selected investment and insurance products. Its operations include banking and wealth management activities, a non-bank venture investment subsidiary, and a qualified real estate subsidiary. It serves customers primarily in south-central Pennsylvania and parts of western Maryland through community banking offices and a regional support center.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	87	74	58	42	38
Taxable interest	18	16	15	10	7
Tax exempt interest	1	1	1	2	2
Dividend income	781,000	692,000	56,000	21,000	18,000
Interest-earning deposits in other banks	8	9	2	2	249,000
Total interest income	114	101	77	56	48
Deposits	35	31	19	4	2
Federal Reserve Bank borrowings	—	2	2	—	—
FHLB advances	9	10	857,000	—	—
Subordinate notes	1	1	1	1	1
Total interest expense	45	44	23	—	—
Net interest income	70	58	54	52	45
Provision for credit losses - loans	3	2	3	650,000	—
(Reversal of) provision for credit losses - unfunded commitments	−131,000	8,000	135,000	—	—
Total provision for credit losses	3	2	3	—	—
Net interest income after provision for credit loss expense	67	56	51	51	47
Wealth management fees	9	9	8	7	—
Loan service charges	984,000	987,000	811,000	724,000	904,000
Gain on sale of loans	672,000	565,000	199,000	770,000	2
Deposit service charges and fees	3	2	2	3	2
Other service charges and fees	2	2	2	2	2
Debit card income	2	2	2	2	2
Increase in cash surrender value of life insurance	469,000	457,000	448,000	436,000	446,000
Net losses on sales of debt securities	—	−4	−1	−91,000	127,000
Change in fair value of equity securities	−7,000	209,000	16,000	−69,000	90,000
Other	961,000	423,000	483,000	209,000	231,000
Total noninterest income	19	14	15	15	19
Salaries	26	24	—	—	—
Employee benefits	10	8	—	—	—
Net occupancy	5	5	4	4	4
Marketing and advertising	2	2	2	2	2
Legal and professional	3	2	2	2	2
Data processing	6	6	5	5	4
Pennsylvania bank shares tax	570,000	483,000	745,000	1	1
FDIC Insurance	2	2	851,000	736,000	735,000
ATM/debit card processing	1	1	1	1	1
Telecommunications	472,000	435,000	405,000	396,000	407,000
Nonservice pension	64,000	−51,000	−117,000	567,000	819,000
Other	5	5	4	3	3
Total noninterest expense	60	56	50	49	43
Income before income taxes	26	13	16	17	23
Income tax expense	5	2	2	3	3
Net income	21	11	14	15	20
Basic earnings per share	4.76	2.52	3.11	3.38	4.44
Diluted earnings per share	4.74	2.51	3.1	3.36	4.42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	22	20	20	18	10
Short-term interest-earning deposits in other banks	105	184	4	47	165
Total cash and cash equivalents	128	204	23	65	175
Long-term interest-earning deposits in other banks	999,000	1	6	14	10
Debt securities available for sale, at fair value	455	509	473	487	530
Equity securities	—	166,000	427,000	411,000	481,000
Restricted stock	9	9	2	644,000	495,000
Loans held for sale	19	2	213,000	283,000	3
Loans	1,561	1,398	1,257	1,051	—
Allowance for credit losses	−21	−18	−16	−14	−15
Net Loans	1,541	1,380	1,241	1,037	—
Premises and equipment, net	27	29	29	30	19
Right of use asset	4	4	5	6	5
Bank owned life insurance	23	23	23	22	22
Goodwill	9	9	9	9	9
Deferred tax asset, net	8	11	12	16	3
Other assets	16	17	13	13	13
Total assets	2,239	2,198	1,836	1,700	1,774
Noninterest-bearing checking	310	290	273	299	298
Money management, savings and interest checking	1,301	1,209	1,132	1,195	1,212
Time	224	316	132	57	74
Total deposits	1,836	1,816	1,538	1,551	1,584
Lease liability	4	4	5	6	5
Other liabilities	13	14	11	8	8
Total liabilities	2,064	2,053	1,704	1,585	1,617
Commitments and contingent liabilities	—	—	—	—	—
Common stock, $1 par value per share,15,000,000 shares authorized with 4,710,972 shares issued and 4,481,149 shares outstanding at December 31, 2025 and 4,710,972 shares issued and 4,427,362 shares outstanding at December 31, 2024	5	5	5	5	5
Capital stock without par value, 5,000,000 shares authorized with no shares issued and outstanding	—	—	—	—	—
Additional paid-in capital	44	44	44	44	43
Retained earnings	155	139	134	126	117
Accumulated other comprehensive (loss) income	−22	−36	−41	−51	−547,000
Treasury stock, 229,823 shares at December 31, 2025 and 283,610 shares at December 31, 2024, at cost	−7	−8	−9	−9	−7
Total shareholders' equity	175	145	132	114	157
Total liabilities and shareholders' equity	2,239	2,198	1,836	1,700	1,774

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	2	2	1	1
Net amortization of loans and investment securities	280,000	3	2	4	1
Amortization of subordinate debt issuance costs	146,000	38,000	38,000	35,000	33,000
Change in fair value of equity securities	7,000	−209,000	—	—	—
Loans originated for sale	−44	−43	−14	−51	−108
Proceeds from sale of loans	44	41	14	55	117
Gain on sale of loans held for sale	−672,000	−565,000	−199,000	−770,000	−2
Gains from claims on life insurance policies	—	−78,000	—	—	−295,000
Stock option compensation	819,000	634,000	483,000	462,000	204,000
Pension plan contribution	−1	—	—	—	—
Increase in other assets	1	1	−534,000	−795,000	2
(Decrease) increase in other liabilities	−376,000	1	4	918,000	605,000
Deferred tax benefit	−751,000	−473,000	1	1	90,000
Net cash provided by operating activities	25	22	27	25	26
Net decrease in long-term interest-earning deposits in other banks	500,000	5	8	−3	2
Proceeds from sales and calls of investment securities available for sale	—	42	40	20	37
Proceeds from maturities and pay-downs of securities available for sale	72	55	32	41	35
Purchase of investment securities available for sale	—	−136	−50	−87	−216
Net increase in restricted stock	−122,000	−6	−2	−149,000	−27,000
Net increase in loans	−179	−142	−206	−49	13
Proceeds from surrender of life insurance policies	—	558,000	—	—	1
Proceeds from sale of equity securities	161,000	—	—	—	—
Capital expenditures	−866,000	−3	−499,000	−12	−9
Net cash used in investing activities	−107	−184	−178	−95	−134
Net increase in demand deposits, interest-bearing checking, and savings accounts	112	94	−89	−16	232
Net (decrease) increase in time deposits	−92	183	75	−17	−2
Increase in long-term borrowings (FHLB)	—	200	—	—	—
(Decrease) in long-term borrowings (FHLB & FRB)	—	−130	130	—	—
Redemption of subordinate notes	−9	—	—	—	—
Dividends paid	−6	−6	−6	−6	−6
Purchase of Treasury shares	−1	−827,000	−2	−3	−1
Cash received from option exercises	286,000	122,000	47,000	48,000	135,000
Treasury shares issued under dividend reinvestment plan	1	2	1	1	2
Net cash provided by financing activities	6	343	110	−40	226
(Decrease) increase in cash and cash equivalents	−76	180	−42	−110	118
Interest on deposits and other borrowed funds	46	43	19	5	3
Loans transferred to held for sale	16	—	—	5	—
Lease liabilities arising from obtaining right-of-use assets	147,000	20,000	—	2	—

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