Franklin Financial completes $46.7M portfolio repositioning, declares $0.32 quarterly dividend

FRANKLIN FINANCIAL SERVICES CORP /PA/

Sold $46.7M in low-yield U.S. Treasuries (avg yield 1.26%) for $3.4M after-tax loss; expects recovery in ~2.3 years.
Used $42.4M net proceeds to buy higher-yielding RMBS (avg yield 4.62%, life 7.56 yrs) classified as available-for-sale.
Transaction has no impact on stockholders' equity or book value per share; bank remains well-capitalized.
Declared Q4 2024 dividend of $0.32 per share, payable Nov 27 to holders of record Nov 1, unchanged from Q3.
Company still expects full-year 2024 profit despite the loss; no dilution to equity.

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