Revenue expansion remains robust with net interest income growing 20.1% year-over-year as of 2026Q1, though net interest margins have remained stagnant at 0.8% due to rising funding costs.
Franklin Financial Services Corporation (FRAF) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 74.47M | 69.65M | 56.82M | 53.58M | 51.56M | 44.65M | 41.95M | 42.1M | 40.63M | 37.37M | 34.72M | 32.18M | 31.51M | 31.58M | 32.17M | 32.55M | 30.79M | 28.93M | 29.84M | 25.69M | 20.95M | 17.54M | 15.99M | 15.83M | 15.59M | 15.52M | 14.53M | 14.4M | 14.31M | 14.08M | 13.71M |
| NII Growth % | 83.44% | 22.57% | 6.05% | 3.91% | 15.48% | 6.45% | -0.36% | 3.61% | 8.73% | 7.64% | 7.89% | 2.1% | -0.22% | -1.83% | -1.18% | 5.74% | 6.41% | -3.03% | 16.14% | 22.65% | 19.43% | 9.68% | 1.03% | 1.54% | 0.41% | 6.83% | 0.9% | 0.61% | 1.63% | 2.71% | -0.36% |
| Net Interest Margin % | 3.19% | 3.11% | 2.59% | 2.92% | 3.03% | 2.52% | 2.73% | 3.32% | 3.36% | 3.17% | 3.08% | 3.11% | 3.15% | 3.21% | 3.13% | 3.29% | 3.23% | 2.95% | 3.31% | 3.13% | 2.62% | 2.82% | 2.84% | 2.88% | 2.93% | 3.11% | 3.12% | 3.24% | 3.37% | 3.98% | 4.08% |
| Interest Income | 115.22M | 114.37M | 100.76M | 76.71M | 56.43M | 47.55M | 45.92M | 49.21M | 44.84M | 39.86M | 36.96M | 34.55M | 34.69M | 35.96M | 39.06M | 41.71M | 43.23M | 43.61M | 45.87M | 49.49M | 40.9M | 29.71M | 24.81M | 24.88M | 27.39M | 31.3M | 32.45M | 29.41M | 27.46M | 26.31M | 24.8M |
| Interest Expense | 40.74M | 44.73M | 43.94M | 23.13M | 4.86M | 2.9M | 3.98M | 7.11M | 4.21M | 2.49M | 2.25M | 2.37M | 3.18M | 4.38M | 6.89M | 9.15M | 12.44M | 14.67M | 16.04M | 23.8M | 19.96M | 12.17M | 8.82M | 9.06M | 11.8M | 15.77M | 17.92M | 15.01M | 13.15M | 12.22M | 11.09M |
| Loan Loss Provision | 3.35M | 2.9M | 1.98M | 2.72M | 650K | -2.1M | 4.63M | 237K | 9.95M | 670K | 3.77M | 1.28M | 764K | 2.92M | 5.22M | 7.52M | 3.23M | 3.44M | 1.19M | 990K | 240K | 426K | 880K | 1.7M | 1.19M | 1.48M | 753K | 800K | 1.06M | 936K | 607K |
| Non-Interest Income | 19.87M | 19.18M | 13.07M | 13.67M | 13.84M | 16.43M | 14.01M | 13.83M | 11.65M | 11.26M | 10.77M | 11.89M | 10.5M | 9.41M | 8.9M | 9.95M | 9.13M | 9.03M | 9.06M | 10.11M | 8.26M | 7M | 7.09M | 7.74M | 5.9M | 5.69M | 5.05M | 4.5M | -8.59M | -8.84M | -9.33M |
| Non-Interest Income % | 21.06% | 21.59% | 18.7% | 20.33% | 21.16% | 26.89% | 25.04% | 24.73% | 22.29% | 23.15% | 23.67% | 26.98% | 24.99% | 22.95% | 21.67% | 23.41% | 22.87% | 23.79% | 23.28% | 28.23% | 28.27% | 28.51% | 30.73% | 32.84% | 27.47% | 26.82% | 25.8% | 23.82% | -150.25% | -168.66% | -213.06% |
| Total Net Revenue | 94.35M | 88.82M | 69.89M | 67.25M | 65.41M | 61.08M | 55.96M | 55.92M | 52.28M | 48.62M | 45.48M | 44.07M | 42.02M | 40.99M | 41.07M | 42.51M | 39.92M | 37.96M | 38.89M | 35.8M | 29.2M | 24.53M | 23.08M | 23.57M | 21.49M | 21.21M | 19.58M | 18.9M | 5.72M | 5.24M | 4.38M |
| Revenue Growth % | 24.02% | 27.08% | 3.93% | 2.82% | 7.09% | 9.15% | 0.06% | 6.96% | 7.53% | 6.9% | 3.22% | 4.88% | 2.5% | -0.2% | -3.37% | 6.48% | 5.15% | -2.39% | 8.65% | 22.58% | 19.04% | 6.28% | -2.05% | 9.66% | 1.31% | 8.33% | 3.59% | 230.51% | 9.1% | 19.68% | 18.31% |
| Non-Interest Expense | 60.31M | 59.66M | 54.59M | 48.78M | 47.26M | 40.16M | 38.27M | 36.69M | 36.37M | 42.21M | 32.32M | 30.31M | 30.84M | 30.54M | 29.97M | 28M | 26.14M | 25.93M | 25.43M | 22.79M | 19.3M | 17.06M | 16M | 14.66M | 13.53M | 12.85M | 12.71M | 11.8M | -1.65M | -1.45M | -1.73M |
| Efficiency Ratio | 63.92% | 67.16% | 78.11% | 72.53% | 72.26% | 65.76% | 68.4% | 65.61% | 69.56% | 86.82% | 71.06% | 68.77% | 73.41% | 74.51% | 72.97% | 65.88% | 65.47% | 68.3% | 65.37% | 63.67% | 66.08% | 69.53% | 69.3% | 62.2% | 62.96% | 60.58% | 64.94% | 62.44% | -28.87% | -27.6% | -39.57% |
| Operating Income | 30.69M | 26.27M | 13.31M | 15.75M | 17.5M | 23.01M | 13.06M | 19M | 5.96M | 5.74M | 9.39M | 12.47M | 10.41M | 7.53M | 5.88M | 6.98M | 10.55M | 8.6M | 12.28M | 12.02M | 9.67M | 7.05M | 6.21M | 7.21M | 6.77M | 6.88M | 6.11M | 6.3M | 6.31M | 5.75M | 5.51M |
| Operating Margin % | 32.53% | 29.57% | 19.05% | 23.42% | 26.75% | 37.68% | 23.34% | 33.97% | 11.4% | 11.81% | 20.64% | 28.31% | 24.77% | 18.36% | 14.31% | 16.42% | 26.43% | 22.64% | 31.56% | 33.56% | 33.1% | 28.73% | 26.89% | 30.61% | 31.5% | 32.44% | 31.22% | 33.33% | 110.32% | 109.75% | 125.71% |
| Operating Income Growth % | - | 97.27% | -15.48% | -9.96% | -23.98% | 76.24% | -31.26% | 218.71% | 3.81% | -38.85% | -24.74% | 19.86% | 38.28% | 28.08% | -15.8% | -33.83% | 22.72% | -29.97% | 2.16% | 24.29% | 37.14% | 13.57% | -13.95% | 6.56% | -1.64% | 12.58% | -2.97% | -0.14% | 9.66% | 4.49% | -2.2% |
| Pretax Income | 30.69M | 26.27M | 13.31M | 15.75M | 17.5M | 23.01M | 13.06M | 19M | 5.96M | 5.74M | 9.39M | 12.47M | 10.41M | 7.53M | 5.88M | 6.98M | 10.55M | 8.6M | 12.28M | 12.02M | 9.67M | 7.05M | 6.21M | 7.21M | 6.77M | 6.88M | 6.11M | 6.3M | 6.31M | 5.75M | 5.51M |
| Pretax Margin % | 32.53% | 29.57% | 19.05% | 23.42% | 26.75% | 37.68% | 23.34% | 33.97% | 11.4% | 11.81% | 20.64% | 28.31% | 24.77% | 18.36% | 14.31% | 16.42% | 26.43% | 22.64% | 31.56% | 33.56% | 33.1% | 28.73% | 26.89% | 30.61% | 31.5% | 32.44% | 31.22% | 33.33% | 110.32% | 109.75% | 125.71% |
| Income Tax | 6.05M | 5.04M | 2.22M | 2.15M | 2.56M | 3.4M | 258K | 2.88M | -165K | 3.56M | 1.3M | 2.27M | 2.01M | 1.29M | 512K | 411K | 2.94M | 2.01M | 3.68M | 2.76M | 2.1M | 937K | 1.01M | 1.37M | 1.2M | 1.29M | 1.11M | 1.2M | 1.5M | 1.39M | 1.38M |
| Effective Tax Rate % | 19.7% | 19.19% | 16.64% | 13.68% | 14.62% | 14.76% | 1.98% | 15.16% | -2.77% | 62.1% | 13.87% | 18.2% | 19.27% | 17.2% | 8.71% | 5.89% | 27.84% | 23.39% | 29.98% | 22.96% | 21.69% | 13.29% | 16.35% | 19.04% | 17.67% | 18.72% | 18.09% | 19.05% | 23.84% | 24.16% | 25.05% |
| Net Income | 24.64M | 21.23M | 11.1M | 13.6M | 14.94M | 19.62M | 12.8M | 16.11M | 6.13M | 2.18M | 8.09M | 10.2M | 8.4M | 6.23M | 5.37M | 6.57M | 7.61M | 6.58M | 8.6M | 9.26M | 7.57M | 6.11M | 5.19M | 5.84M | 5.57M | 5.59M | 5.01M | 5.1M | 4.8M | 4.36M | 4.13M |
| Net Margin % | 26.12% | 23.9% | 15.88% | 20.22% | 22.84% | 32.12% | 22.87% | 28.82% | 11.71% | 4.48% | 17.78% | 23.16% | 20% | 15.2% | 13.06% | 15.45% | 19.07% | 17.35% | 22.1% | 25.86% | 25.92% | 24.91% | 22.49% | 24.78% | 25.93% | 26.37% | 25.57% | 26.98% | 84.02% | 83.23% | 94.22% |
| Net Income Growth % | 69.56% | 91.24% | -18.38% | -8.97% | -23.85% | 53.25% | -20.57% | 163.1% | 181.48% | -73.09% | -20.75% | 21.45% | 34.82% | 16.16% | -18.33% | -13.7% | 15.6% | -23.39% | -7.14% | 22.27% | 23.85% | 17.72% | -11.1% | 4.79% | -0.38% | 11.72% | -1.82% | 6.14% | 10.13% | 5.72% | -1.24% |
| Net Income (Continuing) | 24.64M | 21.23M | 11.1M | 13.6M | 14.94M | 19.62M | 12.8M | 16.11M | 6.13M | 2.18M | 8.09M | 10.2M | 8.4M | 6.23M | 5.37M | 6.57M | 7.61M | 6.58M | 8.6M | 9.26M | 7.57M | 6.11M | 5.19M | 5.84M | 5.57M | 5.59M | 5.01M | 5.1M | 4.8M | 4.36M | 4.13M |
| EPS (Diluted) | 5.48 | 4.74 | 2.51 | 3.10 | 3.36 | 4.42 | 2.93 | 3.67 | 1.39 | 0.50 | 1.88 | 2.40 | 1.99 | 1.49 | 1.31 | 1.63 | 1.94 | 1.71 | 2.24 | 2.40 | 2.10 | 1.81 | 1.54 | 1.74 | 1.66 | 1.64 | 1.45 | 1.47 | 1.39 | 1.26 | 1.17 |
| EPS Growth % | 68.4% | 88.84% | -19.03% | -7.74% | -23.98% | 50.85% | -20.16% | 164.03% | 178% | -73.4% | -21.67% | 20.6% | 33.56% | 13.74% | -19.63% | -15.98% | 13.45% | -23.66% | -6.67% | 14.29% | 16.02% | 17.53% | -11.49% | 4.82% | 1.22% | 13.1% | -1.36% | 5.76% | 10.32% | 7.69% | 0.86% |
| EPS (Basic) | - | 4.74 | 2.51 | 3.11 | 3.38 | 4.44 | 2.94 | 3.68 | 1.40 | 0.50 | 1.88 | 2.40 | 1.99 | 1.49 | 1.31 | 1.63 | 1.94 | 1.71 | 2.24 | 2.41 | 2.11 | 1.82 | 1.54 | 1.74 | 1.66 | 1.67 | 1.48 | 1.49 | 1.41 | 1.27 | 1.17 |
| Diluted Shares Outstanding | 4.5M | 4.5M | 4.41M | 4.38M | 4.45M | 4.44M | 4.37M | 4.4M | 4.4M | 4.36M | 4.3M | 4.25M | 4.22M | 4.17M | 4.11M | 4.02M | 3.92M | 3.84M | 3.83M | 3.85M | 3.6M | 3.38M | 3.37M | 3.36M | 3.36M | 3.42M | 3.45M | 3.46M | 3.46M | 3.46M | 3.52M |
Quick answers to the most common questions about buying FRAF stock.
For fiscal year 2025, Franklin Financial Services Corporation (FRAF) reported total revenue of $88.8M. This represents a 1927.9% increase compared to $4.4M in 1996.
Franklin Financial Services Corporation (FRAF) is profitable, generating $21.2M in net income for the fiscal year ending 2025 with a net profit margin of 15.9%.
Franklin Financial Services Corporation (FRAF) reported an operating income of $26.3M, resulting in an operating profit margin of 19.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Franklin Financial Services Corporation (FRAF) generated $85.9M in gross profit for the year, representing a gross profit margin of 64.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Geographic concentration in PA
Metrics are mathematically derived from official filings.
Sustained Net Interest Income Expansion
According to quarterly financial data, FRAF has demonstrated a consistent upward trajectory in net interest income, which climbed from $13.5 million in 2024Q1 to $18.5 million by 2026Q1, suggesting an effective capture of interest rate tailwinds despite intensifying competition for core deposit funding within its regional footprint.
The acceleration in NII growth, peaking at 25.1% year-over-year in 2025Q4, implies that the bank has successfully repriced its loan portfolio faster than its deposit base. Investors should monitor whether this momentum can persist as the deposit beta likely normalizes in a more stable rate environment.
Persistent Net Interest Margin Compression
As reported in recent filings, FRAF's net interest margin has remained largely stagnant at 0.8% throughout the most recent quarters, indicating that rising funding costs are effectively neutralizing the yield benefits gained from the bank's expanding loan portfolio and shifting asset mix in the current cycle.
The inability to expand NIM despite significant NII growth suggests that the bank is paying a premium to retain its core deposit base in Franklin County. This trend warrants further investigation into whether the bank's reliance on local, sticky deposits is becoming structurally more expensive to maintain.
Operational Efficiency Amidst Revenue Growth
Based on the provided income statement data, FRAF has maintained an efficiency ratio fluctuating between 42.1% and 52.2%, suggesting that management is successfully scaling its revenue base without incurring proportional increases in non-interest expenses, thereby enhancing the bank's overall operating leverage during this period of expansion.
The improvement in the efficiency ratio from the 50% range down to the low 40s in mid-2025 indicates disciplined cost control. However, investors should monitor if this efficiency is sustainable or if it reflects a temporary deferral of necessary technology or compliance investments.
Conservative Provisioning Amidst Credit Uncertainty
As indicated by the quarterly provision for credit losses, which spiked to $1.2 million in 2025Q3 before moderating to $221,000 in 2026Q1, the bank appears to be utilizing a conservative provisioning strategy to buffer against potential volatility in its agricultural and commercial real estate loan portfolios.
The significant variance in provision expense suggests that management is proactively adjusting for CECL requirements based on localized economic indicators. This volatility in provisioning may continue to impact quarterly net income, necessitating a focus on PPNR to gauge the bank's true underlying profitability.
Trust Services Driving Fee Stability
Based on reported figures, non-interest income has remained a vital component of FRAF's revenue mix, consistently contributing between 13% and 16% of total revenue, which underscores the importance of the bank's fiduciary and trust services in providing a non-cyclical buffer against interest rate volatility.
The stability of fee income, particularly when excluding the anomalous 2024Q4 period, suggests that the trust department provides a high-quality, recurring revenue stream. This segment appears to be a key differentiator that mitigates the risks associated with the bank's concentrated lending operations.