Franklin Financial Q1 net income $3.3M ($0.75 EPS) up 9.3% YoY; NIM expands to 3.41%

FRANKLIN FINANCIAL SERVICES CORP /PA/

2023-Q1 EPS reported $0.75

Net income $3.3M ($0.75 diluted EPS) vs $3.0M ($0.67) in Q1 2022, +9.3% net income and +11.9% EPS.
Net interest margin 3.41% vs 2.66% YoY; net interest income $12.8M vs $10.8M.
Deposits down $49.3M (3.2%) from year-end; borrowed $50M from Fed BTFP for liquidity.
Adopted CECL Jan 1; provision for credit losses $592K vs $0 in prior year quarter.
Quarterly dividend $0.32 unchanged; 8,752 shares repurchased in Q1 under 150K share plan.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FRANKLIN FINANCIAL SERVICES CORP /PA/ reported the three months ended March 31, 2023 results: net income $3.3 million, EPS $0.75 per diluted share.

Period: the three months ended March 31, 2023
Net income: $3.3 million
EPS: $0.75 per diluted share
Result: reported results

Exact text from the filing

The news release of Franklin Financial Services Corporation, dated April 25, 2023 and attached as Exhibit 99.1, announces its earnings for the three months ended March 31, 2023 and is incorporated by reference herein.

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Source: SEC EDGAR

accession 0000723646-23-000032

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