Franklin Financial Q2 net income $3.0M ($0.68 EPS) down 16.8% YoY; loans up 9%

FRANKLIN FINANCIAL SERVICES CORP /PA/

2023-Q2 EPS reported $1.42

Net income Q2 2023: $3.0M ($0.68 diluted) vs Q2 2022: $3.6M ($0.80), down 16.8%.
Net loans increased $93.7M (9.0%) to $1.131B from Dec 31, 2022.
Deposits decreased $38.3M (2.5%) to $1.513B; cost of deposits rose to 1.16% in Q2.
Q2 provision for credit losses on loans $524K vs $0 a year ago due to loan growth and CECL.
Declared $0.32 quarterly dividend, payable Aug 23, 2023 to holders of record Aug 4.

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 year-to-date 2023 results: net income $6.3 million, EPS $1.42 per diluted share.

Period: year-to-date 2023
Net income: $6.3 million
EPS: $1.42 per diluted share
Result: reported results

Exact text from the filing

· Net income year-to-date 2023 was $6.3 million ($1.42 per diluted share) compared to $6.6 million ($1.47 per diluted share) for the same period in 2022, a decrease of 4.9%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FRANKLIN FINANCIAL SERVICES CORP /PA/ reported the second quarter of 2023 results: net income $3.0 million, EPS $0.68 per diluted share.

Period: the second quarter of 2023
Net income: $3.0 million
EPS: $0.68 per diluted share
Result: reported results

Exact text from the filing

· Net income for the second quarter of 2023 was $3.0 million ($0.68 per diluted share) compared to $3.3 million ($0.75 per diluted share) for the first quarter of 2023 (a decrease of 9.6%), and $3.6 million ($.80 per diluted share) for the second quarter of 2022 (a decrease of 16.8%).

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Source: SEC EDGAR

accession 0000723646-23-000048

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