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Parent Company (Franklin Financial Services Corporation) Financial Information (Tables)
12 Months Ended
Dec. 31, 2019
Parent Company (Franklin Financial Services Corporation) Financial Information [Abstract]  
Balance Sheets



 

 

 

 

 

 



 

December 31

(Dollars in thousands)

 

2019

 

2018

Assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

164 

 

$

108 

Investment securities

 

 

440 

 

 

374 

Equity investment in subsidiaries

 

 

126,069 

 

 

118,027 

Other assets

 

 

859 

 

 

 —

Total assets

 

$

127,532 

 

 

118,509 



 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Other liabilities

 

$

 

$

113 

Total liabilities

 

 

 

 

113 

Shareholders' equity

 

 

127,528 

 

 

118,396 

Total liabilities and shareholders' equity

 

$

127,532 

 

$

118,509 



Statements Of Income



 

 

 

 

 

 



 

Years Ended December 31

   (Dollars in thousands)

 

2019

 

2018

Income:

 

 

 

 

 

 

Dividends from Bank subsidiary

 

$

8,710 

 

$

3,259 

Other income

 

 

66 

 

 



 

 

8,776 

 

 

3,268 

Expenses:

 

 

 

 

 

 

Operating expenses

 

 

1,176 

 

 

1,184 

Income before income taxes and equity in undistributed income
  of subsidiaries

 

 

7,600 

 

 

2,084 

Income tax benefit

 

 

867 

 

 

207 

Equity in undistributed income of subsidiaries

 

 

7,648 

 

 

3,834 

Net income

 

 

16,115 

 

 

6,125 

Other comprehensive income/(loss) of subsidiary

 

 

394 

 

 

(151)

Comprehensive income

 

$

16,509 

 

$

5,974 



Statements Of Cash Flows



 

 

 

 

 

 



 

Years Ended December 31

(Dollars in thousands)

 

2019

 

2018

Cash flows from operating activities

 

 

 

 

 

 

Net income

 

$

16,115 

 

$

6,125 

Adjustments to reconcile net income to net cash provided

 

 

 

 

 

 

by operating activities:

 

 

 

 

 

 

Equity in undistributed (income) of subsidiary

 

 

(7,648)

 

 

(3,834)

Stock option compensation

 

 

 —

 

 

185 

(Increase) decrease in other assets/liabilities

 

 

(1,034)

 

 

289 

Net cash provided by operating activities

 

 

7,433 

 

 

2,765 



 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

Dividends paid

 

 

(5,115)

 

 

(4,598)

Cash received from option exercises

 

 

268 

 

 

362 

Common stock issued under dividend reinvestment plan

 

 

1,316 

 

 

1,417 

Treasury stock purchase

 

 

(3,846)

 

 

(88)

Net cash used in financing activities

 

 

(7,377)

 

 

(2,907)

Increase (decrease) in cash and cash equivalents

 

 

56 

 

 

(142)

Cash and cash equivalents as of January 1

 

 

108 

 

 

250 

Cash and cash equivalents as of December 31

 

$

164 

 

$

108