Parent Company (Franklin Financial Services Corporation) Financial Information

12 Months Ended

Dec. 31, 2012

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)	2012		2011
Assets:
Cash and cash equivalents	$	375	$	419
Investment securities, available for sale		692		619
Equity investment in subsidiaries		88,501		84,320
Other assets		2,066		1,836
Total assets	$	91,634	$	87,194
Liabilities:
Other liabilities	$	-	$	12
Total liabilities		-		12
Shareholders' equity		91,634		87,182
Total liabilities and shareholders' equity	$	91,634	$	87,194

Statements of Income	Years Ended December 31
(Dollars in thousands)	2012		2011		2010
Income:
Dividends from Bank subsidiary	$	2,680	$	3,231	$	4,210
Interest and dividend income		29		28		26
OTTI losses on securities		-		(4)		(201)
Net OTTI losses recognized in earnings		-		(4)		(201)
Securities (losses) gains, net		(1)		(37)		8
		2,708		3,218		4,043
Expenses:
Operating expenses		734		728		772
Income before income taxes and equity in undistributed income of subsidiaries		1,974		2,490		3,271
Income tax benefit		249		236		272
Equity in undistributed income of subsidiaries		3,142		3,843		4,069
Net income	$	5,365	$	6,569	$	7,612

Statements of Comprehensive Income

		Years ended December 31
(Dollars in thousands)		2012		2011		2010
Net Income	$	5,365	$	6,569	$	7,612
Securities:
Unrealized gains (losses) arising during the period		73		(164)		103
Reclassification adjustment for net losses (gains) included in net income		1		37		(8)
Net unrealized gains (losses)		74		(127)		95
Tax effect		(25)		43		(32)
Net of tax amount		49		(84)		63
Total other comprehensive income (loss)		49		(84)		63
Total Comprehensive Income	$	5,414	$	6,485	$	7,675

Statements of Cash Flows	Years Ended December 31
(Dollars in thousands)	2012		2011		2010
Cash flows from operating activities
Net income	$	5,365	$	6,569	$	7,612
Adjustments to reconcile net income to net cash provided
by operating activities:
Equity in undistributed income of subsidiary		(3,142)		(3,843)		(4,069)
Securities losses (gains)		1		37		(8)
OTTI writedown on equity securities		-		4		201
Increase in other assets		(256)		(245)		(204)
Decrease in other liabilities		(12)		(238)		-
Other, net		(6)		103		13
Net cash provided by operating activities		1,950		2,387		3,545
Cash flows from investing activities
Proceeds from sales of investment securities		-		81		21
Net cash provided by investing activities		-		81		21
Cash flows from financing activities
Dividends paid		(3,170)		(4,273)		(4,194)
Treausry stock issued under stock option plans		2		30		26
Treasury stock issued to fund dividend reinvestment plan		-		-		617
Common stock issued under dividend reinvestment plan		1,174		1,706		316
Net cash used in financing activities		(1,994)		(2,537)		(3,235)
(Decrease) increase in cash and cash equivalents		(44)		(69)		331
Cash and cash equivalents as of January 1		419		488		157
Cash and cash equivalents as of December 31	$	375	$	419	$	488