0000723646-15-000020.txt : 20150728 0000723646-15-000020.hdr.sgml : 20150728 20150728141416 ACCESSION NUMBER: 0000723646-15-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150728 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150728 DATE AS OF CHANGE: 20150728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN FINANCIAL SERVICES CORP /PA/ CENTRAL INDEX KEY: 0000723646 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 251440803 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12126 FILM NUMBER: 151009214 BUSINESS ADDRESS: STREET 1: 20 S MAIN ST STREET 2: P O BOX 6010 CITY: CHAMBERSBURG STATE: PA ZIP: 17201-0819 BUSINESS PHONE: 7172646116 MAIL ADDRESS: STREET 1: 20 SOUTH MAIN ST STREET 2: PO BOX 6010 CITY: CHAMBERSBURG STATE: PA ZIP: 17201-0819 8-K 1 fraf-20150728x8k.htm 8-K 2015 3rd Qtr Div and 2nd Qtr Earnings

 

 

 

 

United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)  July 27, 2015  

 

FRANKLIN FINANCIAL SERVICES CORPORATION

(Exact name of registrant as specified in its charter)

 

Pennsylvania                                  0-12126                        25-1440803

(State or other jurisdiction             (Commission                      (IRS Employer

of incorporation)                     File Number)                      Indent. No.)

 

20 South Main Street, Chambersburg, PA                                        17201

          (Address of principal executive office)                                       (Zip Code)

 

Registrant's telephone number, including area code                     (717) 264-6116

 

N/A

(Former name or former address, if changes since last report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a –12 under the Exchange Act (17 CFR 240.14a –12)

 

o

Pre-commencement communications pursuant to Rule 14d – 2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

Pre-commencement communications pursuant to Rule 13e – 4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Item 2.02  Results of Operations and Financial Condition.

 

The news release of Franklin Financial Services Corporation, dated July 27, 2015 and attached as Exhibit 99.1, announces its earnings for the three and six months ended June  30, 2015 and is incorporated by reference herein.

 

 

Item 8.01  Other Events.

 

The news release of Franklin Financial Services Corporation, dated July  27, 2015 and attached as Exhibit 99.1, announces a $.19 per share regular cash dividend for the third quarter of 2015 and is incorporated by reference herein.

 

Item 9.01  Financial Statements and Exhibits.

 

    (c)  Exhibits.

 

    The following exhibit is filed herewith:

 

Number                              Description                                

 

   99.1                         News Release, dated July 27, 2015             

                                   of Franklin Financial Services Corporation

 

 

 

                                                        SIGNATURES

 

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

FRANKLIN FINANCIAL SERVICES CORPORATION                                                         

 

By: /s/ William E. Snell, Jr.

William E. Snell, Jr., President                                                                                      and Chief Executive Officer

 

Dated: July 27, 2015

 

 

 

EXHIBIT INDEX

 

Exhibit Number Description

 

99.1News release, dated July 27, 2015 of Franklin Financial Services Corporation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EX-99.1 2 fraf-20150728ex99136a606.htm EX-99.1 8-K EarningsRelease & Div 2Q 2015-Exh 991 SCRUBBED

 

 

Exhibit 99.1

 

July 27, 2015

 

Franklin Financial Reports Earnings Growth; Declares Dividend

 

(Chambersburg, PA)  Franklin Financial Services Corporation, the bank holding company of F&M Trust, reported earnings of $2,474,000 for the second quarter ended June 30, 2015. When compared to earnings of $2,319,000 for the second quarter of 2014, net income increased by 6.7%. Net income for the first six months of 2015 was $5,358,000 compared with $4,145,000 for the same period in 2014, an increase of 29.3%.

 

On a per share basis, diluted earnings were $0.58 for the quarter ended June 30, 2015 and $1.26 for the first six months of 2015, compared to $0.55 and $0.99 for the same periods in 2014.

 

“We expect the low interest rate environment to continue as well as intense competition for quality loans and additional regulatory costs.” said William E. Snell, President and CEO of F&M Trust. “Despite some of these challenges, we are encouraged by a number of positive trends including the strengthening of our commercial loan pipeline, growth in our fee-income lines of business and gradual improvement in the local economy.”

 

Total assets at June 30, 2015 were $1.028 billion, a 0.6% increase when compared with total assets of $1.022 billion at June 30, 2014. Total deposits and repurchase agreements increased 1.4% to $916 million, and net loans increased slightly to $723.8 million. The market value of trust assets under management was $598.1 million, a 2.6% increase over the second quarter of 2014.

 

Additionally, the Board of Directors of Franklin Financial Services Corporation declared a $.19 per share regular cash dividend for the third quarter of 2015. This compares to a $.17 per share regular cash dividend for the second quarter of 2014, representing an 11.8% increase. Total cash dividends paid during the first three quarters of 2015 will be $0.55 per share compared to $0.51 per share in 2014, an increase of 7.8%.

 

The regular quarterly cash dividend will be paid on August 26, 2015 to shareholders of record at the close of business on August 7, 2015.

 

Franklin Financial is the largest independent, locally owned and operated bank holding company headquartered in Franklin County with assets of more than $1 billion. Its wholly-owned subsidiary, F&M Trust, has twenty-two community banking offices located in Boiling Springs, Camp Hill, Carlisle, Chambersburg, Greencastle, Hustontown, McConnellsburg, Mechanicsburg, Mont Alto, Marion, Newville, Orbisonia, Shippensburg and Waynesboro. Franklin Financial stock is trading on the OTCQX® marketplace of the OTC Markets under the symbol FRAF. Please visit our website for more information, www.franklinfin.com.