Franklin Financial Q1 net income $3.4M ($0.77 EPS); assets exceed $2B; NIM compressed to 2.88%

FRANKLIN FINANCIAL SERVICES CORP /PA/

2024-Q1 EPS reported $0.77

Net income of $3.4M ($0.77 diluted EPS) vs $3.3M ($0.75) in Q1 2023; QoQ down 3.2% from $3.5M.
Total assets hit $2.011B, up 9.5% from year-end 2023; net loans +1.6%, deposits +1.4%.
Net interest margin fell to 2.88% from 3.41% a year ago; provision for credit losses $452K.
Declared Q2 dividend $0.32 per share, payable May 22, 2024 to holders of record May 2, 2024.
Noninterest income up 29.9% YoY; expenses up 10.7% on higher salaries and data processing.

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 0.95

FRANKLIN FINANCIAL SERVICES CORP /PA/ reported the three months ended March 31, 2024 results: net income $3.4 million, EPS $0.77.

Period: the three months ended March 31, 2024
Net income: $3.4 million
EPS: $0.77
Result: reported results

Exact text from the filing

Net income for the first quarter of 2024 was $3.4 million

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FRANKLIN FINANCIAL SERVICES CORP /PA/ filing history →

Source: SEC EDGAR

accession 0000723646-24-000035

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