Parent Company (Franklin Financial Services Corporation) Financial Information

12 Months Ended

Dec. 31, 2016

Parent Company (Franklin Financial Services Corporation) Financial Information [Abstract]

Parent Company (Franklin Financial Services Corporation) Financial Information

Note 21. Parent Company (Franklin Financial Services Corporation) Financial Information

Balance Sheets	December 31
(Dollars in thousands)	2016		2015
Assets:
Cash and cash equivalents	$	851	$	300
Equity investment in subsidiaries		115,794		111,535
Other assets		39		33
Total assets	$	116,684	$	111,868
Liabilities:
Other liabilities	$	191	$	492
Total liabilities		191		492
Shareholders' equity		116,493		111,376
Total liabilities and shareholders' equity	$	116,684	$	111,868

Statements of Income	Years Ended December 31
(Dollars in thousands)	2016		2015		2014
Income:
Dividends from Bank subsidiary	$	4,006	$	300	$	1,151
Interest and dividend income		-		-		15
Other income		-		171		-
OTTI loss on equity securities		-		-		-
Securities gains (losses), net		-		-		82
		4,006		471		1,248
Expenses:
Operating expenses		972		986		795
Income before income taxes and equity in undistributed income of subsidiaries		3,034		(515)		453
Income tax benefit		301		328		241
Equity in undistributed income of subsidiaries		4,752		10,391		7,708
Net income	$	8,087	$	10,204	$	8,402

Statements of Comprehensive Income

		Years ended December 31
(Dollars in thousands)		2016		2015		2014
Net Income	$	8,087	$	10,204	$	8,402
Securities:
Unrealized (losses) gains arising during the period		-		-		(236)
Reclassification adjustment for net (gains) losses included in net income		-		-		(82)
Net unrealized (losses) gains		-		-		(318)
Tax effect		-		-		108
Net of tax amount		-		-		(210)
Total other comprehensive (loss) income of Parent		-		-		(210)
Other comprehensive (loss) income of subsidiaries		(493)		(622)		1,806
Total Comprehensive Income	$	7,594	$	9,582	$	9,998

Statements of Cash Flows	Years Ended December 31
(Dollars in thousands)	2016		2015		2014
Cash flows from operating activities
Net income	$	8,087	$	10,204	$	8,402
Adjustments to reconcile net income to net cash provided
by operating activities:
Equity in undistributed income of subsidiary		(4,752)		(10,391)		(7,708)
Stock option compensation		88		74		-
Securities (gains) losses		-		-		(82)
(Increase) decrease in other assets/liabilities		(307)		1,800		498
Net cash provided by operating activities		3,116		1,687		1,110
Cash flows from investing activities
Proceeds from sales of investment securities		-		-		568
Net cash provided by investing activities		-		-		568
Cash flows from financing activities
Dividends paid		(3,523)		(3,139)		(2,847)
Cash received from option exercises		82		92		59
Common stock issued under dividend reinvestment plan		1,671		1,246		923
Treasury stock purchase		(795)		-		-
Net cash used in financing activities		(2,565)		(1,801)		(1,865)
Increase (decrease) in cash and cash equivalents		551		(114)		(187)
Cash and cash equivalents as of January 1		300		414		601
Cash and cash equivalents as of December 31	$	851	$	300	$	414