0000723646-16-000048.txt : 20160427 0000723646-16-000048.hdr.sgml : 20160427 20160427081804 ACCESSION NUMBER: 0000723646-16-000048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160427 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160427 DATE AS OF CHANGE: 20160427 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: 161593467 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-20160427x8k.htm 8-K 2016 1st 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)  April 26, 2016  



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 April 26, 2016 and attached as Exhibit 99.1, announces its earnings for the three months ended March 31, 2016 and is incorporated by reference herein.





Item 9.01  Financial Statements and Exhibits.



    (c)  Exhibits.     The following exhibits are filed herewith:



Number                              Description                                



   99.1                         News Release, dated April 26, 2016             

                                   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.,                                                                                     Chief Executive Officer



Dated: April 26, 2016



 

 

EXHIBIT INDEX



Exhibit Number Description



99.1News release, dated April 26, 2016 of Franklin Financial Services Corporation







































































EX-99.1 2 fraf-20160427xex99_1.htm EX-99.1 8-K EarningsRelease 1Q 2016-Exh 991 SCRUBBED









Exhibit 99.1



April 26, 2016



Franklin Financial Reports First Quarter 2016 Earnings



 (Chambersburg, PA)  Franklin Financial Services Corporation, the bank holding company of F&M Trust, reported earnings of $2,726,000 for the first quarter ended March 31, 2016. This represents a 5.5% decrease when compared to first quarter 2015 earnings of $2,884,000 and a 20.2% increase when compared to fourth quarter 2015 earnings of $2,267,000. First quarter 2015 earnings were enhanced by two nonrecurring events that increased pre-tax noninterest income by $899,000. Adjusting for the nonrecurring events, net income for the first quarter 2016 represents a 19% increase over the first quarter 2015. On a per share basis, diluted earnings were $0.64 for the first three months of 2016 compared to $0.68 for the same period in 2015 and $0.53 for the quarter ended December 31, 2015.



“Although the outlook for interest rates and the economy remains uncertain, we have experienced increased opportunities across all of our business lines as a result of the numerous merger related disruptions in our market.” said William E. Snell, CEO of F&M Trust. “We are starting 2016 with a strong commercial pipeline and significant momentum.”



Total assets at March 31, 2016 were $1.070 billion, a 3.4% increase when compared with total assets of $1.035 billion at December 31, 2015. Total deposits increased 3.5% to $951.0 million, and net loans increased 2.6% to $792.2 million. The market value of trust assets under management increased slightly to $588.1 million.



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.