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Parent Company (Franklin Financial Services Corporation) Condensed Financial Information

12 Months Ended

Dec. 31, 2022

Parent Company (Franklin Financial Services Corporation) Condensed Financial Information [Abstract]

Parent Company (Franklin Financial Services Corporation) Financial Information

Note 23. Parent Company (Franklin Financial Services Corporation) Condensed Financial Information

Balance Sheets

		December 31
(Dollars in thousands)		2022			2021
Assets:
Cash and cash equivalents		$	13,500		$	17,637
Investment securities			411			481
Equity investment in subsidiaries			118,768			157,620
Other assets			1,153			918
Total assets		$	133,832			176,656
Liabilities:
Subordinate notes		$	19,623		$	19,588
Other liabilities			12			3
Total liabilities			19,635			19,591
Shareholders' equity			114,197			157,065
Total liabilities and shareholders' equity		$	133,832		$	176,656

Statements of Income

		Years Ended December 31
(Dollars in thousands)		2022			2021
Income:
Dividends from Bank subsidiary		$	5,670		$	4,050
Change in fair value of equity securities			(69)			90
Dividends			5			9
			5,606			4,149
Expenses:
Interest expense			1,047			1,048
Operating expenses			1,771			1,536
Income before income taxes and equity in undistributed income ‎  of subsidiaries			2,788			1,565
Income tax benefit			600			517
Equity in undistributed income of subsidiaries			11,550			17,534
Net income			14,938			19,616
Other comprehensive (loss)/income of subsidiary			(50,740)			(3,737)
Comprehensive (loss) income		$	(35,802)		$	15,879

Statements of Cash Flows

		Years Ended December 31
(Dollars in thousands)		2022			2021
Cash flows from operating activities
Net income		$	14,938		$	19,616
Adjustments to reconcile net income to net cash provided
by operating activities:
Equity in undistributed (income) of subsidiary			(11,550)			(17,534)
Stock option compensation			462			204
Change in fair value of equity security			69			(90)
Increase in other assets/liabilities			(528)			(474)
Net cash provided by operating activities			3,391			1,722
Cash flows from financing activities
Dividends paid			(5,658)			(5,524)
Cash received from option exercises			48			135
Common stock issued under dividend reinvestment plan			1,416			2,388
Treasury stock purchase			(3,334)			(1,193)
Net cash (used in) provided by financing activities			(7,528)			(4,194)
(Decrease) increase in cash and cash equivalents			(4,137)			(2,472)
Cash and cash equivalents as of January 1			17,637			20,109
Cash and cash equivalents as of December 31		$	13,500		$	17,637

X

- References

No definition available.

+ Details

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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