Parent Company (Franklin Financial Services Corporation) Financial Information

12 Months Ended

Dec. 31, 2017

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

Parent Company (Franklin Financial Services Corporation) Financial Information

Note 20. Parent Company (Franklin Financial Services Corporation) Financial Information

Balance Sheets

	December 31
(Dollars in thousands)	2017		2016
Assets:
Cash and cash equivalents	$	250	$	851
Investment securities		365		—
Equity investment in subsidiaries		114,387		115,794
Other assets		184		39
Total assets	$	115,186		116,684
Liabilities:
Other liabilities	$	42	$	191
Total liabilities		42		191
Shareholders' equity		115,144		116,493
Total liabilities and shareholders' equity	$	115,186	$	116,684

Statements of Income

	Years Ended December 31
(Dollars in thousands)	2017		2016		2015
Income:
Dividends from Bank subsidiary	$	3,225	$	4,006	$	300
Other income		—		—		171
		3,225		4,006		471
Expenses:
Operating expenses		1,107		972		986
Income before income taxes and equity in undistributed income   of subsidiaries		2,118		3,034		(515)
Income tax benefit		348		301		328
Equity in undistributed income of subsidiaries		(290)		4,752		10,391
Net income	$	2,176	$	8,087	$	10,204

Statements of Comprehensive Income

		Years ended December 31
(Dollars in thousands)	2017		2016		2015
Net Income	$	2,176	$	8,087	$	10,204
Securities:
Unrealized gains arising during the period		201		—		—
Reclassification adjustment for net (gains) losses included in net income		-		—		—
Net Unrealized gains		201		—		—
Tax effect		(68)		—		—
Net of tax amount		133		—		—
Total other comprehensive income of Parent		133		—		—
Other comprehensive (loss) income of subsidiaries		(954)		(493)		(622)
Total Comprehensive Income	$	1,355	$	7,594	$	9,582

Statements of Cash Flows

	Years Ended December 31
(Dollars in thousands)	2017		2016		2015
Cash flows from operating activities
Net income	$	2,176	$	8,087	$	10,204
Adjustments to reconcile net income to net cash provided
by operating activities:
Equity in undistributed loss (income) of subsidiary		290		(4,752)		(10,391)
Stock option compensation		161		88		74
Deferred tax benefit		(26)		—		—
(Increase) decrease in other assets/liabilities		(337)		(307)		1,800
Net cash provided by operating activities		2,264		3,116		1,687
Cash flows from financing activities
Dividends paid		(4,031)		(3,523)		(3,139)
Cash received from option exercises		175		82		92
Common stock issued under dividend reinvestment plan		991		1,671		1,246
Treasury stock purchase		—		(795)		—
Net cash used in financing activities		(2,865)		(2,565)		(1,801)
(Decrease) increase in cash and cash equivalents		(601)		551		(114)
Cash and cash equivalents as of January 1		851		300		414
Cash and cash equivalents as of December 31	$	250	$	851	$	300