Franklin Financial Services Corporation · NASDAQ:FRAF

Franklin Financial Services — Shareholder Meeting (April 2024)

35 slides from Franklin Financial Services's shareholder meeting presentation, Apr 23, 2024

  1. Slide 1: Annual Meeting April 23, 2024

    Annual MeetingApril 23, 2024

  2. Slide 2: Call to Order

    Call to OrderG. Warren Elliott

  3. Slide 3: Invocation

    Invocation Pam Johns FEM f

  4. Slide 4: Minutes of Last Meeting

    Minutes of Last MeetingG. Warren Elliott

  5. 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 anticipate

  6. Slide 6: Introduction

    IntroductionG. Warren Elliott

  7. Slide 7: Board of Directors

    Board of DirectorsG. Warren Elliott Chairman of the BoardTimothy (Tim) G. Henry President & CEO

  8. Slide 8: Board of Directors

    Board of DirectorsMartin R. BrownKevin W. CraigGregory A. Duffey

  9. Slide 9: Board of Directors

    Board of DirectorsDaniel J. FisherAllan E. Jennings, Jr. Stanley J. Kerlin

  10. Slide 10: Board of Directors

    Board of DirectorsDonald H. MoweryKimberly M. RzompGregory I. Snook

  11. Slide 11: Legal counsel, Corporate Secretary and Auditor

    Nick BybelPartner, Bybel Rutledge LLPZoe ClaytonAssistant Corporate Secretary – Judge of ElectionsIan KandrayCPA, Crowe LLP

  12. Slide 12: Chairman’s Remarks

    Chairman’s RemarksG. Warren Elliott

  13. Slide 13: G. Warren Elliott, Chairman of the Board

    G. Warren ElliottChairman of the Board

  14. Slide 14: Election of Directors

    Election of DirectorsG. Warren Elliott

  15. Slide 15: Director Nominees

    Kevin W. CraigDaniel J. FisherDonald H. Mowery

  16. Slide 16: Say-On-Pay Vote

    Say-On-Pay VoteG. Warren Elliott

  17. Slide 17: Ratification of Auditors

    Ratification of AuditorsG. Warren Elliott

  18. Slide 18: Polls Open

    Polls Open G. Warren Elliott FEM fa

  19. Slide 19: Financial Overview

    Financial OverviewMark R. Hollar, Chief Financial Officer

  20. Slide 20: Balance Sheet Highlights

    Balance Sheet HighlightsDollars in Thousands ($000’s) Total AssetsInvestmentsNet Loans1DepositsShareholders’ Equity2023$1,836,039$472,930$1,240,933$1,537,978$132,1362022$1,699,579$487,247$1,036,866$1,551,448$114,197Change in $$136,460($14,317) $204,067($13,470) $17,939Change in %8.0%-2.9%19.7%-0.9%1

  21. Slide 21: Financial Highlights

    Financial Highlights Net Interest IncomeProvision for Credit LossesNoninterest IncomeNoninterest Expense Net Income2023$53,637$2,724$14,851$50,011$13,5982022$51,586$650$15,250$48,691$14,938Change in $$2,051$2,074($399) $1,320($1,340) Change in %4.0%319.1%-2.6%2.7%-9.0%

  22. Slide 22: Performance Measures

    Performance MeasuresReturn on Avg. Assets20230.78%Return on Avg. Equity11.39%Return on Avg. Tangible Equity112.32%Efficiency Ratio170.75%Net Interest Margin3.31%20220.83%11.64%12.52%71.21%3.11%

  23. Slide 23: Safety & Soundness

    Safety & Soundness Risk-Based Capital Ratio (Total) 20232022Leverage Ratio (Tier 1) 14.45%17.21%9.01%8.95%Nonperforming Assets / Total Assets0.01%0.01%Allowance for Credit Loss / Loans1.28%1.35%Net Recoveries (Charged-Off) Loans / Average Loans-0.02%-0.15%

  24. Slide 24: Shareholder Value

    Shareholder ValuePer Share Measure / Market Valuation20232022 Diluted Earnings Per Share$3.10$3.36 Cash Dividend Yield14.06%3.55% Regular Cash Dividends Paid$1.28$1.28Market Value Per Share$31.55$36.10Book Value Per Share$30.23$26.01Tangible Book Value Per Share2$28.17$23.96Market Cap ($M) $137,905$

  25. Slide 25: Quarterly Earnings Performance

    Quarterly Earnings Performance Q1Q2Q3Q4$7,000,$6,000,$5,000$4,000$3,000$2,000$1,000$0$3,292$0.75$2,976$0.68$3,859$0.88$3,859$0.88$3,471,$0.79$3,471$0.79$3,361$0.7720232024

  26. Slide 26: President & CEO’s Remarks

    President & CEO’s RemarksTimothy (Tim) G. Henry

  27. Slide 27: Timothy (Tim) G. Henry, President & CEO

    Timothy (Tim) G. HenryPresident & CEO

  28. Slide 28: Questions

    QuestionsTimothy (Tim) G. Henry

  29. Slide 29: Polls Closed

    Polls ClosedG. Warren Elliott

  30. Slide 30: Report by Judge of Election

    Report by Judge of ElectionZoe R. Clayton

  31. Slide 31: Announcement

    AnnouncementG. Warren Elliott

  32. Slide 32: Thank You

    Thank You G. Warren Elliott FEM fa

  33. Slide 33: Meeting Adjourned

    Meeting Adjourned

  34. Slide 34: GAAP / Non-GAAP Reconciliation

    GAAP / Non-GAAP Reconciliation 20232022 Return on Tangible EquityNet Income$ 13,598$ 14,938Average Shareholders’ Equity119,408128,283Less Average Intangible Assets(9,016) (9,016) Tangible Average Shareholders’ Equity (non-GAAP) 110,392119,267Return on Average Tangible Equity (non-GAAP) 12.32%12.52%E

  35. Slide 35: GAAP / Non-GAAP Reconciliation

    GAAP / Non-GAAP ReconciliationTangible Book Value (per share) (non-GAAP) 20232022Shareholders’ Equity132,136114,197Less Intangible Assets(9,016) (9,016) Tangible Shareholders’ Equity (non-GAAP) 123,120105,181Shares Outstanding (in thousands) 4,3714,390Tangible Book Value (non-GAAP) 28.1723.96Tangibl

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