Unassociated Document

0001144204-09-054989.txt : 20091028 0001144204-09-054989.hdr.sgml : 20091028 20091028103858 ACCESSION NUMBER: 0001144204-09-054989 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091028 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091028 DATE AS OF CHANGE: 20091028 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: 091140801 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 v163928_8k.htm Unassociated Document

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: October 28, 2009

(Date of earliest event reported) October 28, 2009

FRANKLIN FINANCIAL SERVICES CORPORATION

(Exact name of registrant as specified in its new 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 8.01 Other Events.

The news release of Franklin Financial Services Corporation, dated October 28, 2009 and attached as Exhibit 99.1, announces its earnings for the three and nine months ended September 30, 2009 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

The following exhibits are filed herewith:

Number	Description

99 .1	Press Release, dated October 28, 2009 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: October 28, 2009

EX-99.1 2 v163928_ex99-1.htm Unassociated Document

October 28, 2009

Franklin Financial reports quarterly earnings

(Chambersburg, PA) Franklin Financial Services Corporation, the bank holding company of F&M Trust Company, reported earnings of $1,083,000 for the quarter ended September 30, 2009. This compares to earnings of $2,612,000 for the quarter ended September 30, 2008 and brings net income for the first nine months of 2009 to $4,822,000 compared with $7,594,000 for the same period in 2008, a decline of 36.5%.

Diluted earnings per share were $.28 for the quarter and $1.26 for the first nine months of 2009. This compares to $.68 and $1.98 for the same periods in 2008.

“The economic recession continues to have an impact on individuals and businesses in South Central Pennsylvania. As a result of higher levels of delinquency in both our consumer and commercial loan portfolios, as well as an increase in nonperforming loans, we elected to increase our provision for loan loss expense during the third quarter by $1,371,000 over the same period last year to $1,644,000. This provides an allowance for loans and loan loss ratio of 1.20% at September 30, 2009,” commented William E. Snell, Jr., president and CEO. “In addition, our year-to-date results have been significantly impacted by a $1,043,000 increase in premiums for FDIC deposit insurance including a $450,000 special FDIC assessment that occurred in the second quarter.”

Total assets reached $975,590,000 at September 30, 2009, up 10.3% when compared to assets on September 30, 2008. Total deposits and repurchase agreements increased by 14.2%, while net loans grew by 11.9% over totals a year earlier. The market value of trust assets under management grew 9.0% to $522,390,000 at September 30, 2009.

Franklin Financial is the bank holding company for F&M Trust, a locally-owned and operated community bank with twenty-five community offices throughout Franklin, Cumberland, Fulton and Huntingdon Counties in Boiling Springs, Carlisle, Chambersburg, Greencastle, Hustontown, Marion, McConnellsburg, Mont Alto, Newville, Orbisonia, Shippensburg, Warfordsburg and Waynesboro. Franklin Financial stock is traded on the over- the-counter market under the symbol FRAF.