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Stock impact report

Franklin Financial Reports 2023 Q4 and Full Year 2023 Results; Declares Dividend [Yahoo! Finance]

Franklin Financial Services Corporation (FRAF) 
NASDAQ:AMEX Investor Relations: franklinfin.com
Company Research Source: Yahoo! Finance
of F&M Trust (the Bank) headquartered in Chambersburg, PA , reported its fourth quarter 2023 and year-to-date 2023 financial results. A summary of operating results follows: Net income for the fourth quarter of 2023 was $3.5 million per diluted share) compared to $3.9 million per diluted share) million for the third quarter of 2023 (a decrease of 10.1%) and $3.7 million per diluted share) for the fourth quarter of 2022 (a decrease of 6.6%). For the fourth quarter of 2023, the provision for credit losses was $788 thousand compared to $875 thousand for the third quarter of 2023 and $650 thousand for the fourth quarter of 2022. Net income year-to-date for 2023 was $13.6 million per diluted share) compared to $14.9 million per diluted share) for the same period in 2022, a decrease of 7.7%. As compared to the prior year-to-date results, 2023 was affected by a loss of $1.1 million on securities sales, a lease termination expense of $495 thousand and an increase of $2.1 million in the Show less Read more
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