Franklin Financial Services Corporation · NASDAQ:FRAF
Franklin Financial Services — Shareholder Meeting (April 2022)
33 slides from Franklin Financial Services's shareholder meeting presentation, Apr 27, 2022
Slide 1: Annual Meeting April 26, 2022
Annual Meeting April 26, 2022 F&M TRUST Franklin Financial Services Corporation
Slide 2: Call to Order
Call to Order G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 3: Invocation
Invocation Pam Johns F&M TRUST Franklin Financial Services Corporation
Slide 4: Minutes of Last Meeting
Minutes of Last Meeting G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 5: Forward Looking Statements
Forward Looking Statements In order to help you to better understand the business of the Company where we have been and where we want to go my remarks today (and those of other Company officers who will speak or respond to questions) will include forward looking statements relating to anticipated fi
Slide 6: Introduction
Introduction G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 7: Board of Directors
Board of Directors G. Warren Elliott Chairman of the Board Timothy (Tim) G. Henry President & CEO F&M TRUST Franklin Financial Services Corporation
Slide 8: Board of Directors
Board of Directors Martin R. Brown Kevin W. Craig Gregory A. Duffey Daniel J. Fisher F&M TRUST Franklin Financial Services Corporation
Slide 9: Board of Directors
Board of Directors Allan E. Jennings, Jr. Stanley J.Kerlin Donald H. Mowery Kimberly M. Rzomp F&M TRUST Franklin Financial Services Corporation
Slide 10: Corporate Secretary, Counsel, Judge of Elections and Auditor
Nick Bybel Partner, Bybel Rutledge LLP Zoe Clayton Assistant Corporate Secretary Judge of Elections Sara Dopkin CPA, Crowe F&M TRUST Franklin Financial Services Corporation
Slide 11: Chairman Comments
Chairman Comments G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 12: G. Warren Elliott, Chairman of the Board
G. Warren Elliott Chairman of the Board F&M TRUST Franklin Financial Services Corporation
Slide 13: Election of Directors
Election of Directors G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 14: Director Nominees
Martin R. Brown Allan E. Jennings, Jr. Gregory A. Duffey F&M TRUST Franklin Financial Services Corporation
Slide 15: Say On Pay Vote
Say On Pay Vote G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 16: Ratification of Auditors
Ratification of Auditors G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 17: Polls Open
Polls Open G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 18: Financial Overview
Financial Overview Mark R. Hollar, CFO F&M TRUST Franklin Financial Services Corporation
Slide 19: Balance Sheet Highlights
Balance Sheet Highlights Dollars in Thousands ($000’s) 2021 2020 Change in $ Change in % Total Assets $1,773,806 $1,535,038 $238,768 15.6% Investments $530,292 $397,331 $132,961 33.5% Net Loans 1 $983,746 $992,915 ($9,169) - 0.9% Deposits $1,584,359 $1,354,573 $229,786 17.0% Shareholders’ Equity $15
Slide 20: Financial Highlights
Financial Highlights Dollars in Thousands ($000’s) 2021 2020 Change in $ Change in % Net Interest Income $44,671 $41,961 $2,710 6.5% Provision for Loan Losses ($2,100) $4,625 ($6,725) - 145.4% Noninterest Income $19,488 $15,084 $4,404 29.2% Noninterest Expense $43,245 $39,362 $3,883 9.9% Net Income
Slide 21: Performance Measures
Performance Measures 2021 2020 Return on Avg. Assets 1.17% 0.91% Return on Avg. Equity 13.20% 9.56% Efficiency Ratio 1 66.12% 67.32% Net Interest Margin 2.88% 3.21% Source: Franklin Financial Services Corporation Annual Report on Form 10 K filed with the SEC. 1 See GAAP versus Non GAAP reconciliatio
Slide 22: Safety & Soundness
Safety & Soundness 2021 2020 Risk Based Capital Ratio (Total) 18.41% 17.69% Leverage Ratio (Tier 1) 8.52% 8.69% Nonperforming Assets / Total Assets 0.42% 0.57% Allowance for Loan Loss as a % of Loans 1.51% 1.66% Net Recoveries (Charged Off) Loans / Average Loans 0.04% 0.02% Source: Franklin Financia
Slide 23: Shareholder Value
Shareholder Value Per Share Measure / Market Valuation 2021 2020 Diluted Earnings Per Share $4.42 $2.93 Cash Dividend Yield 1 3.87% 4.44% Regular Cash Dividends Paid $1.25 $1.20 Market Value Per Share $33.10 $27.03 Book Value Per Share $35.36 $33.07 Tangible Book Value Per Share 2 $33.34 $31.02 Mark
Slide 24: Quarterly Earnings Performance
Quarterly Earnings Performance $4,830 $3,012 $5,271 $5,862 $3,653 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 2021 2022 Q1 Q2 Q3 Q4 Earnings per Share Dollars in thousands ($000’s), except per share. F&M TRUST Franklin Financial Services Corporation
Slide 25: President & CEO Comments
President & CEO Comments Timothy (Tim) G. Henry F&M TRUST Franklin Financial Services Corporation
Slide 26: Timothy (Tim) G. Henry, President & CEO
Timothy (Tim) G. Henry President & CEO F&M TRUST Franklin Financial Services Corporation
Slide 27: Questions
Questions Timothy (Tim) G. Henry F&M TRUST Franklin Financial Services Corporation
Slide 28: Polls Closed
Polls Closed G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 29: Report by Judge of Election
Report by Judge of Election G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 30: Announcement
Announcement G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 31: Thank You
Thank You G. Warren Elliott F&M TRUST Franklin Financial Services Corporation
Slide 32: Meeting Adjourned
Meeting Adjourned F&M TRUST Franklin Financial Services Corporation
Slide 33: GAAP / Non GAAP Reconciliation
GAAP / Non GAAP Reconciliation Tangible Book Value (per share) (non GAAP) 2021 2020 Shareholders’ equity $ 157,065 $ 145,176 Less intangible assets (9,016) (9,016) Shareholders’ equity (non GAAP) 148,049 136,160 Shares outstanding (in thousands) 4,441 4,389 Tangible book value (non GAAP) 33.34 31.02
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