Franklin Financial Services (FRAF) - 2025 Q1 - Quarterly Results

Financial Performance - Net income for Q1 2025 was $3.9 million ($0.88 per diluted share), a 16.7% increase from $3.4 million ($0.77 per diluted share) in Q1 2024[2] - Net income for Q1 2025 reached $3,922,000, significantly higher than $3,361,000 in Q1 2024, marking a 16.67% increase[11] - Diluted earnings per share increased to $0.88, compared to $0.77 in Q1 2024, reflecting a growth of 14.29%[11] - Return on Average Assets (ROA) improved to 0.72% and Return on Average Equity (ROE) increased to 10.80% for Q1 2025[2] - Return on average assets improved to 0.72%, compared to 0.67% in the same quarter last year[11] Asset and Loan Growth - Total assets increased to $2.257 billion, up 2.7% from $2.198 billion at year-end 2024[2] - Total assets as of March 31, 2025, were $2,257,478,000, up from $2,011,614,000 a year earlier, representing a growth of 12.23%[11] - Total net loans rose by $57.3 million (4.2%) since December 31, 2024, primarily driven by a $39.2 million increase in commercial real estate loans[3] - Loans, net, increased to $1,437,747,000, a rise of 14.03% from $1,261,062,000 in Q1 2024[11] Income and Dividends - Net interest income for Q1 2025 was $15.6 million, compared to $15.1 million in Q4 2024 and $13.6 million in Q1 2024[4] - Net interest income rose to $15,606,000, up 15.06% compared to $13,553,000 in the same quarter last year[11] - Interest income for Q1 2025 was $27,058,000, an increase of 9.36% from $23,809,000 in Q1 2024[11] - Noninterest income totaled $4.6 million for Q1 2025, significantly up from $288 thousand in Q4 2024[4] - A quarterly cash dividend of $0.33 per share was declared for Q2 2025, representing a 3.1% increase over the previous quarter[2] - The dividend payout ratio for Q1 2025 was 36.16%, a significant decrease from 41.62% in Q1 2024[11] Credit Loss Provisions - The provision for credit losses was $779 thousand for Q1 2025, an increase from $452 thousand in Q1 2024, due to loan growth[2] - Total provision for credit losses was $779,000, up from $452,000 in Q1 2024, indicating a 72.1% increase[11] Shareholder Equity - Shareholders' equity increased by $6.7 million to $151.4 million at March 31, 2025[3] Market Performance - The market value per share increased to $35.45, up from $26.20 in Q1 2024, reflecting a growth of 35.5%[11]