FRANKLIN FINANCIAL SERVICES CORP PA
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
FRAF$69.08-0.7%Stored close · as of Nov 6, 2026
Contents
Item 1. Financial Statements Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited)
| (Dollars in thousands, except share and per share data) · (unaudited) | ||
|---|---|---|
| September 30, | December 31, | |
| 2024 | 2023 | |
| Assets | ||
| Cash and due from banks | $26,278 | $19,505 |
| Short-term interest-earning deposits in other banks | 210,039 | 3,635 |
| Total cash and cash equivalents | 236,317 | 23,140 |
| Long-term interest-earning deposits in other banks | 1,749 | 6,229 |
| Debt securities available for sale, at fair value | 466,485 | 472,503 |
| Equity securities | 655 | 427 |
| Restricted stock | 9,175 | 2,375 |
| Loans held for sale | 2,725 | 213 |
| Loans | 1,365,893 | 1,256,985 |
| Allowance for credit losses | (17,507) | (16,052) |
| Net Loans | 1,348,386 | 1,240,933 |
| Premises and equipment, net | 29,162 | 28,543 |
| Right of use asset | 4,251 | 4,680 |
| Bank owned life insurance | 22,618 | 22,758 |
| Goodwill | 9,016 | 9,016 |
| Deferred tax asset, net | 9,135 | 11,801 |
| Other assets | 11,689 | 13,421 |
| Total assets | $2,151,363 | $1,836,039 |
| Liabilities | ||
| Deposits | ||
| Noninterest-bearing checking | $303,207 | $273,050 |
| Money management, savings, and interest checking | 1,177,009 | 1,132,482 |
| Time | 243,275 | 132,446 |
| Total deposits | 1,723,491 | 1,537,978 |
| Federal Reserve Bank borrowings | 40,000 | 90,000 |
| FHLB advances | 200,000 | 40,000 |
| Subordinate notes | 19,691 | 19,661 |
| Lease liability | 4,403 | 4,816 |
| Other liabilities | 13,850 | 11,448 |
| Total liabilities | 2,001,435 | 1,703,903 |
| Commitments and contingent liabilities | ||
| Shareholders' equity | ||
| Common stock, $1 par value per share,15,000,000 shares authorized with | ||
| 4,710,972 shares issued and 4,418,753 shares outstanding at September 30, 2024 and | ||
| 4,710,972 shares issued and 4,371,231 shares outstanding at December 31, 2023 | 4,711 | 4,711 |
| Capital stock no par value, 5,000,000 shares authorized with no | ||
| shares issued and outstanding | — | — |
| Additional paid-in capital | 43,697 | 43,646 |
| Retained earnings | 140,388 | 133,993 |
| Accumulated other comprehensive loss | (30,885) | (40,940) |
| Treasury stock, 292,219 shares at September 30, 2024 and 339,741 shares at | ||
| December 31, 2023, at cost | (7,983) | (9,274) |
| Total shareholders' equity | 149,928 | 132,136 |
| Total liabilities and shareholders' equity | $2,151,363 | $1,836,039 |
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