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 agenda outlined including Q&A session and voting on key items.

Financial performance review

• Net income rose from $11.1M in 2024 to $21.2M in 2025, marking record earnings.

• Tangible book value per share increased 21% to $37.10 in 2025.

• Net loans grew 11.6%, driven by commercial real estate and residential mortgages.

• Deposit balances increased 1.1%, with a strategic payoff of $65M in brokered CDs affecting growth.

• Wealth Management services generated $9.2M in fees, with assets under management reaching $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.

• Board and executive team acknowledged for leadership and stewardship.