Franklin Financial Services Corporation (FRAF) Financial Statements (2024 and earlier)

Company Profile

Business Address 20 S MAIN ST
CHAMBERSBURG, PA 17201-0819
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments65,310175,63057,53784,26853,33158,603
Cash and cash equivalents64,899175,14957,14683,82852,95758,603
Short-term investments411481391440374 
Total current assets:65,310175,63057,53784,26853,33158,603
Noncurrent Assets
Operating lease, right-of-use asset6,0104,7595,2725,126
Property, plant and equipment30,02619,19013,10513,85113,52113,741
Intangible assets, net (including goodwill)9,0169,0169,0169,0169,0169,016
Goodwill9,0169,0169,0169,0169,0169,016
Deferred income tax assets15,6303,3142,4014,003
Total noncurrent assets:60,68236,27929,79431,99622,53722,757
Other undisclosed assets1,573,5871,561,8971,447,7071,152,8931,133,7191,098,453
TOTAL ASSETS:1,699,5791,773,8061,535,0381,269,1571,209,5871,179,813
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 15,00015,00015,000   
Total current liabilities: 15,00015,00015,000   
Noncurrent Liabilities
Long-term debt and lease obligation 5,0005,0005,000   
Long-term debt, excluding current maturities 5,0005,0005,000   
Total noncurrent liabilities: 5,0005,0005,000   
Other undisclosed liabilities1,565,3821,596,7411,369,8621,141,6291,091,1911,064,669
Total liabilities:1,585,3821,616,7411,389,8621,141,6291,091,1911,064,669
Equity
Equity, attributable to parent114,197157,065145,176127,528118,396115,144
Common stock4,7114,7114,7114,7104,7014,689
Treasury stock, value(8,654)(6,796)(7,834)(8,410)(5,401)(6,131)
Additional paid in capital43,53543,08542,58942,26841,53040,396
Accumulated other comprehensive income (loss)(51,287)(547)3,190(5,986)(6,380)(6,028)
Retained earnings125,892116,612102,52094,94683,94682,218
Total equity:114,197157,065145,176127,528118,396115,144
TOTAL LIABILITIES AND EQUITY:1,699,5791,773,8061,535,0381,269,1571,209,5871,179,813

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues64,37157,40954,35555,37650,53749,815
Net investment income56,44947,57345,93949,23544,86839,885
Financial services revenue9,930
Cost of revenue  (4,625)(237)(9,954)(670)
Provision for loan, lease, and other losses  (4,625)(237)(9,954)
Financial services costs(670)
Gross profit:64,37157,40949,73055,13940,58349,145
Operating expenses(9,730)(6,774)(8,332)(8,340)(4,507)(33,270)
Other operating income, net
(Noninterest Income, Other Operating Income)
2092311111,436131221
Operating income:54,85050,86641,50948,23536,20716,096
Nonoperating income436446457835510495
Gains (losses) on sales of other real estate    326(5)(26)
Bank owned life insurance income436446457509515521
Interest and debt expense(4,863)(2,902)(3,978)(7,113)(4,214)(2,491)
Income from continuing operations before equity method investments, income taxes:50,42348,41037,98841,95732,50314,100
Other undisclosed loss from continuing operations before income taxes(32,928)(25,396)(24,930)(22,962)(26,543)(8,359)
Income from continuing operations before income taxes:17,49523,01413,05818,9955,9605,741
Income tax expense (benefit)(2,557)(3,398)(258)(2,880)165(3,565)
Income from continuing operations:14,93819,61612,80016,1156,1252,176
Income before gain (loss) on sale of properties:19,61612,80016,1156,1252,176
Net income available to common stockholders, diluted:14,93819,61612,80016,1156,1252,176

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:14,93819,61612,80016,1156,1252,176
Other comprehensive income (loss) 1,0772,960(570)(661)639(935)
Other undisclosed comprehensive income      
Comprehensive income:16,01522,57612,23015,4546,7641,241
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(51,817)(6,697)9,7461,055(790)114
Comprehensive income (loss), net of tax, attributable to parent:(35,802)15,87921,97616,5095,9741,355

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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