secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN FINANCIAL SERVICES CORP /PA/ (FRAF)
CIK:        0000723646
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0000723646-23-000068
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin Financial Q3 net income $3.9M ($0.88 EPS), down 16.7% YoY; loans up 14.9% YTD
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- Net income Q3 2023 $3.9M ($0.88 diluted EPS) vs $4.6M ($1.05) Q3 2022, -16.7%; Q2 2023 $3.0M.
- Provision for credit losses $875K in Q3 vs $524K Q2 2023 and $0 Q3 2022.
- Net loans +14.9% YTD to $1.19B; deposits +1.0% YTD; borrowings $110M (BTFP $70M, FHLB $40M).
- NIM 3.33% YTD vs 2.96% prior year; yield on earning assets +145bp, cost of funds +136bp.
- Declared $0.32 quarterly dividend, payable Nov 22; repurchased 83,058 shares YTD under 150K-share plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723646/000072364623000068/0000723646-23-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723646/000072364623000068/fraf-20231024x8k.htm
  HTML page:      https://secwatch.observer/filing/0000723646-23-000068

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