Franklin Financial Q3 net income jumps as expenses fall
FRAF•Franklin Financial Services Corp. reported Q3 net income of $8.54 million and earnings per share of $1.89, both sharply higher year over year. Net interest income rose 11% to $20.19 million.
1. Quarterly results
Franklin Financial Services Corp. said Q3 net interest income increased 11% year over year to $20.19 million, while net income was $8.54 million and earnings per share were $1.89. The company attributed lower noninterest expense mainly to reduced employee benefits costs; net interest income growth was mainly due to lower interest expense.
