Franklin Financial Services (FRAF) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with confirmation of proper notice and quorum; invocation delivered and introductions made.

• Celebrated 120th anniversary, highlighting resilience through historic financial crises and commitment to community values.

Financial performance review

• Net income rose from $11.1M in 2024 to $21.2M in 2025, with improved ROA and ROE.

• Tangible book value per share increased 21% to $37.10; net loans grew 11.6%, mainly in commercial and residential real estate.

• Deposit balances up 1.1%, impacted by payoff of $65M in brokered CDs; non-interest income represented 22% of total revenue.

• Wealth Management services generated $9.2M in fees, assets under management reached $1.4B.

• Q1 2026 net income was $6.6M, up 9.8% from Q4 2025 and 69.2% from Q1 2025.

Board and executive committee updates

• Chad Carroll promoted to President, recognized for driving growth across business lines.

• CEO Craig Best completed first full year; board and employees acknowledged for contributions.