Franklin Financial Q4 net income plunges 86% to $0.11/sh on securities loss; full year down 18.4%

FRANKLIN FINANCIAL SERVICES CORP /PA/

2024-FY EPS reported $2.51

Q4 net income $487K ($0.11/diluted) vs $3.5M ($0.79) in Q4 2023, down 86% due to $3.4M after-tax loss on investment securities sold in portfolio restructuring.
Full year 2024 net income $11.1M ($2.51/diluted) vs $13.6M ($3.10) in 2023, down 18.4%.
Net loans up 11.2% to $1.380B; total deposits up 18.1% to $1.816B; total assets $2.198B, up 19.7% YoY.
Net interest margin (NIM) for 2024 was 2.95% vs 3.31% in 2023; net interest income $57.5M, up 7.2%.
Board declared $0.32 regular quarterly dividend, payable Feb 26, 2025; authorized repurchase of up to 150,000 shares through Dec 31, 2025.

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