Unassociated Document

0001144204-10-022176.txt : 20100426 0001144204-10-022176.hdr.sgml : 20100426 20100426164321 ACCESSION NUMBER: 0001144204-10-022176 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100426 DATE AS OF CHANGE: 20100426 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: 10770739 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 v182233_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: April 26, 2010

(Date of earliest event reported) April 26, 2010

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 2.02

Results of Operations and Financial Condition.

The news release of Franklin Financial Services Corporation, dated April 26, 2010 and attached as Exhibit 99.1, announces its earnings for the three months ended March 31, 2010 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 April 26, 2010 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: April 26, 2010

EX-99.1 2 v182233_ex99-1.htm Unassociated Document

Exhibit 99.1

April 26, 2010

Franklin Financial reports 1st quarter earnings

(Chambersburg, PA) Franklin Financial Services Corporation, the bank holding company of F&M Trust Company, reported earnings of $1,974,000 for the first quarter ended March 31, 2010. When compared to first quarter 2009 earnings of $2,101,000, net income declined 6.0%. On a per share basis, diluted earnings were $.51 for the first three months of 2010 compared to $.55 for the same period in 2009.

“The current economic conditions continue to challenge net income,” commented William E. Snell, Jr., president and CEO. “Specifically, we have experienced higher FDIC deposit insurance premiums and we increased our provision for loan losses as a result of both continuing strong loan growth as well as our intent to maintain the adequacy of the allowance for loan losses during these economic times.”

Total assets at March 31, 2010 reached $974.3 million, an increase of 6.4% over total assets of $915.3 million at March 31, 2009. Net loans increased to $740.7 million at quarter end from $688.9 million one year earlier, an increase of 7.5%. Total deposits and repurchase agreements were $786.4 million at the end of the first quarter 2010, increasing 8.7% from the first quarter of 2009. The market value of trust assets under management were $464.9 million on March 31, 2010, representing a 2.7% decline from a year earlier.

Franklin Financial is an independent, locally owned and operated bank holding company headquartered in Chambersburg. Its wholly owned subsidiary, F&M Trust operates twenty-five community banking offices located throughout Cumberland, Franklin, Fulton and southern Huntingdon counties in Boiling Springs, Carlisle, Chambersburg, Greencastle, Hustontown, McConnellsburg, Mont Alto, Marion, Newville, Orbisonia, Shippensburg, St. Thomas, Warfordsburg and Waynesboro. Franklin Financial stock is traded on the over-the-counter market under the symbol FRAF.