# EDGAR Filing Document

**Accession Number:** 0000723646
**File Stem:** 0000723646-25-000058
**Filing Date:** 2025-7
**Character Count:** 27631
**Document Hash:** 379ce50cd48e5ac615c308307141ec12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000723646-25-000058.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0000723646-25-000058

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20250725

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN FINANCIAL SERVICES CORP /PA/
- **CENTRAL INDEX KEY:** 0000723646
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 251440803
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38884
- **FILM NUMBER:** 251151741

**BUSINESS ADDRESS:**
- **STREET 1:** 20 S MAIN ST
- **STREET 2:** P O BOX 6010
- **CITY:** CHAMBERSBURG
- **STATE:** PA
- **ZIP:** 17201-0819
- **BUSINESS PHONE:** 7172646116

**MAIL ADDRESS:**
- **STREET 1:** 20 SOUTH MAIN ST
- **STREET 2:** PO BOX 6010
- **CITY:** CHAMBERSBURG
- **STATE:** PA
- **ZIP:** 17201-0819

?xml version='1.0' encoding='ASCII'? fraf-20250725x8k

**United States**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

## **FORM 8-K** 
CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report: **<u>July 25, 2025</u>**

#####  **<u>FRANKLIN FINANCIAL SERVICES CORPORATION</u>** 
(Exact name of registrant as specified in its new charter)

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| | | |
|:---|:---|:---|
| **Pennsylvania** | **001-38884** | **25-1440803** |
| (State or other jurisdiction<br>of incorporation) | (Commission <br>File Number) | (IRS Employer <br>Identification No.) |

---

---

| | |
|:---|:---|
| **1500 Nitterhouse Drive, Chambersburg, PA** | **17201** |
| (Address of principal executive office) | (Zip Code) |
| Registrant's telephone number, including area code | **<u>(</u><u>717</u><u>)</u> <u>264-6116</u>** |

---

#####  **<u>N/A</u>** 
(Former name or former address, if changes since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a –12 under the Exchange Act (17 CFR 240.14a –12)

◻ Pre-commencement communications pursuant to Rule 14d – 2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e – 4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of class</u> | <u>Symbol</u> | <u>Name of exchange on which registered</u> |
| Common stock | FRAF | Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

 <u>‎</u> 

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**Item 7.01 <u>Regulations FD Disclosure</u>**

Franklin Financial Services Corporation ("the Corporation") is furnishing this presentation which will be presented in whole or in part, from time to time, by executives of the Corporation in one or more meetings with investors and analysts. The presentation is attached as Exhibit 99.1 and is incorporated by reference. It is also available on the Corporation's website at www.franklinfin.com.

The information in this Form 8-K provided under Item 7.01, including all exhibits attached hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of the Corporation under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

**Item 9.01 <u>Financial Statements and Exhibits</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Exhibits. The following exhibits are filed herewith:

<u>Number</u> <u>Description</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1 [<u>Investor Presentation, dated July 25, 2025 of Franklin Financial Services</u>](fraf-20250725xex99_1.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FRANKLIN FINANCIAL SERVICES CORPORATION

By: <u>/s/ Craig W. Best</u>

Craig W. Best

Chief Executive Officer and President

Dated: July 25, 2025

## Exhibit 99.1

**Exhibit 99.1**

![Picture 1](fraf-20250725xex99_1g001.jpg)

Investor Presentation Second Quarter 2025 Highlights Franklin Financial Services Corporation F&M TRUST Stock Symbol: FRAF (Nasdaq)

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![Picture 2](fraf-20250725xex99_1g002.jpg)

Forward Looking Statements Certain statements appearing herein which are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements refer to a future period or periods, reflecting management's current views as to likely future developments, and use words "may," "will," "expect," "believe," "estimate," "anticipate," or similar terms. Because forward-looking statements involve certain risks, uncertainties and other factors over which Franklin Financial Services Corporation has no direct control, actual results could differ materially from those contemplated in such statements. These factors include (but are not limited to) the following: general economic conditions particularly with regard to the negative impact of severe, wide-ranging and continuing disruptions caused by the spread of the coronavirus COVID-19 pandemic and responses thereto, changes in interest rates, changes in the Corporation's cost of funds, changes in government monetary policy, changes in government regulation and taxation of financial institutions, changes in the rate of inflation, changes in technology, the intensification of competition within the Corporation's market area, and other similar factors. We caution readers not to place undue reliance on these forward-looking statements. They only reflect management's analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any Current Reports on Form 8-K. GAAP versus non-GAAP Presentations – The Corporation supplements its traditional GAAP measurements with certain non-GAAP measurements to evaluate its performance and to eliminate the effect of intangible assets. By eliminating intangible assets, the Corporation believes it presents a measurement that is comparable to companies that have no intangible assets or to companies that have eliminated intangible assets in similar calculations. However, not all companies may use the same calculation method for each measurement. The Efficiency Ratio measures the cost to generate one dollar of revenue. The non-GAAP measurements are not intended to be used as a substitute for the related GAAP measurements and should not be read in isolation or relied upon as a substitute for GAAP measures. The following table shows the calculation of the non-GAAP measurements. F&M TRUST Franklin Financial Services Corporation 2

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![Picture 3](fraf-20250725xex99_1g003.jpg)

Overview of Franklin Financial Franklin Financial, which was formed in 1983, is a bank holding company headquartered in Franklin County, PA A $2.3 billion financial services corporation located in South-Central Pennsylvania and northern tier of Maryland Franklin Financial's wholly-owned subsidiary, F&M Trust, was founded in Chambersburg, PA in 1906 As of June 30, 2025, Franklin Financial reported $1.4 billion in trust and brokerage assets under management Franklin Financial stock is trading on the Nasdaq Stock Market (NASDAQ: FRAF) F&M TRUST Franklin Financial Services Corporation 3

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![Picture 4](fraf-20250725xex99_1g004.jpg)

Trade Area Expansion 23 Locations Serving South Central PA and Washington County MD Primary Trade Area Expanded Trade Area Offering Wealth Management, Commercial Financing, and Residential Lending Services F&M TRUST Franklin Financial Services Corporation 4

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![Picture 5](fraf-20250725xex99_1g005.jpg)

Why Invest in Franklin Financial? An exceptionally strong deposit franchise A company with diversified revenue streams including fee income from a $1.4 billion assets under management wealth management team A company with solid credit quality A company that continues to deliver good earnings A company with a strong dividend A company that is focused on building shareholder value by growing and protecting tangible book value1 1See GAAP versus Non-GAAP reconciliation F&M TRUST Franklin Financial Services Corporation 5

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![Picture 6](fraf-20250725xex99_1g006.jpg)

Mission, Vision & Core Values Mission Statement Delivering the right financial solutions from people you know and trust. Vision We are committed to remaining independent by growing our bank to meet the increasing needs of our employees, customers, communities, and shareholders. We strive to be a financial services leader in the markets we serve. Core Values The employees, officers and directors are committed to the core values of integrity, teamwork, excellence, accountability, and concern for our customers and the communities we serve. F&M TRUST Franklin Financial Services Corporation 6

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![Picture 7](fraf-20250725xex99_1g007.jpg)

Experienced and Cohesive Executive Team Executive Title Years of Banking Experience Joined F&M Trust Prior Experience Craig W. Best President and Chief Executive Officer 42 2025 Peoples Security Bank & Trust, First Commonwealth Bank, Equitable Bank Mark R. Hollar Executive Vice President, Chief Financial Officer & Treasurer 37 1994 ValleyBank & Trust Charles B. Carroll, Jr. Executive Vice President, Chief Operating Officer 31 2023 S&T Bank, FirstMerit / Huntington National Bank, BBVA Compass Lorie Heckman, CERP, CRCM Executive Vice President, Chief Risk Officer 39 1986 F&M Trust, Vice President of Compliance and Security Steven D. Butz Senior Vice President, Chief Commercial Services Officer 40 2013 PNC, Waypoint, Sovereign, Graystone Tower, Susquehanna Bank Scott Ehrig, CFP®, CIMA® Senior Vice President, Chief Wealth Management Officer 32 2020 FMA Advisory, Wilmington Trust, M&T Investment Group, JP Morgan Louis J. Giustini Senior Vice President, Chief Retail Services Officer 37 2022 Hagerstown Trust, Columbia Bank, Fulton Bank F&M TRUST Franklin Financial Services Corporation 7

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![Picture 8](fraf-20250725xex99_1g008.jpg)

Experienced and Cohesive Executive Team Executive Title Years of Banking Experience Joined F&M Trust Prior Experience Karen K. Carmack, DM Senior Vice President, Chief Human Resources Officer 30 2000 ACNB Matthew D. Weaver Senior Vice President, Chief Marketing Officer 25 2014 Susquehanna Bank, Clifton LarsonAllen, IMRE David M. Long Senior Vice President, Chief Technology Officer 18 2022 Howard Bank F&M TRUST Franklin Financial Services Corporation 8

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![Picture 9](fraf-20250725xex99_1g009.jpg)

Managed Growth SELECTED HIGHLIGHTS Total Assets Net Loans Total Deposits Assets Under Management +4.0% +8.7% +4.3% +3.9% KEY STATISTICS $2.287 Billion as of 6/30/2025 $2.198 Billion as of 12/31/2024 $1.500 Billion as of 6/30/2025 $1.380 Billion as of 12/31/2024 $1.893 Billion as of 6/30/2025 $1.816 Billion as of 12/31/2024 $1.360 Billion as of 6/30/2025 $1.309 Billion as of 12/31/2024 F&M TRUST Franklin Financial Services Corporation 9

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![Picture 10](fraf-20250725xex99_1g010.jpg)

Net Interest Income $60,000 $50,000 $40,000 $30,000 $41,961 $44,671 $51,586 $53,637 $57,514 $32,842 $20,000 3.51% 3.06% 3.40% 4.70% 5.16% 5.28% $10,000 3.21% 2.88% 3.11% 3.31% 2.98% 3.13% $0 0.39% 0.24% 0.36% 1.75% 2.68% 23.58% 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 Net Interest Income Asset Yield Lability Cost Net interest Margin F&M TRUST Franklin Financial Services Corporation 10

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![Picture 11](fraf-20250725xex99_1g011.jpg)

Diversified Income Non-Interest Income1 $25,000 $20,000 $15,000 25.83% 29.46% 22.54% 2.57% 23.28% 22.75% $10,000 $3,658 $5,392 $3,024 $3,610 $4,116 $2,405 $5,000 $1,844 $2,170 $1,868 $2,157 $2,279 $1,167 $10,000 $1,977 $2,258 $2,527 $2,492 $2,448 $1,218 $5,000 $1,536 $2,430 $770 $199 $565 $241 $0 $6,040 $7,111 $7,152 $7,512 $8,538 $4,633 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 Wealth Management Fees Gain on Sale of Loans Deposit Services Fee Debit Card Income Other Non-Interest Income/total Revenue 1Excludes net securities gains/losses; 12/31/2020 through 12/31/2024 data is as of year end; 6/30/2025 is year-to-date F&M TRUST Franklin Financial Services Corporation 11

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![Picture 12](fraf-20250725xex99_1g012.jpg)

Financial Updates Second Quarter Ended June 30, 2025 F&M TRUST Franklin Financial Services Corporation 12

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![Picture 13](fraf-20250725xex99_1g013.jpg)

Balance Sheet Highlights Dollars in Thousands (000's) As of 6/30/2025 As of 12/31/2024 As of 12/31/2023 As of 12/31/2022 As of 12/31/2021 As of 12/31/2020 Total Assets $2,286,745 $2,197,841 $1,836,039 $1,699,579 $1,773,806 $1,535,038 Cash and Cash Equivalents $207,790 $203,613 $23,140 $64,899 $175,149 $57,146 Debt Securities AFS (Fair Value) $481,259 $508,604 $472,503 $486,836 $529,811 $396,940 Net Loans $1,500,035 $1,380,424 $1,240,933 $1,036,866 $983,746 $992,915 Deposits $1,893,471 $1,815,647 $1,537,978 $1,551,448 $1,584,359 $1,354,573 Shareholders' Equity $157,364 $144,716 $132,136 $114,197 $157,065 $145,176 F&M TRUST Franklin Financial Services Corporation 13

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![Picture 14](fraf-20250725xex99_1g014.jpg)

Investment AFS Portfolio Fair Value ($000's) $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $36,330 $45,550 $45,657 $38,733 $31,079 $28,921 $200,000 $8,453 $30,666 $65,950 $104,005 $149,170 $126,895 $150,000 $72,241 $122,669 $105,278 $93,858 $138,742 $134,976 $100,000 $247,054 $212,227 $155,455 $138,618 $133,592 $134,102 $50,000 $12,754 $12,571 $93,760 $4,094 $90,257 ($61,497) $74,091 ($49,416) $31,797 ($45,449) $32,862 ($36,955) 0 As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 06/30/2025 U.S. Trea Municipal Corporate Agency MBS/CMO Non-Agency MBS/CMO Asset-Backed Unrealized (Loss)/Gain 1Included in reported fair values F&M TRUST Franklin Financial Services Corporation 14

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![Picture 15](fraf-20250725xex99_1g015.jpg)

Diversified Loan Portfolio Loans Outstanding $1,600,000 10% $1,400,000 9% $1,200,000 8% $1,000,000 $5,577 $6,406 $6,199 $6,815 $8,853 $8,337 7% $800,000 $145,279 $140,669 $118,443 $115,018 $108,545 $107,097 6% $600,000 $218,893 $225,084 $242,578 $303,749 $355,262 $399,470 5% $400,000 $135,978 $103,874 $117,159 $127,636 $122,052 $132,000 4% $200,000 $266,359 4.05% $257,782 3.83% $248,216 4.14% $300,256 5.16% $357,888 5.65% $358,112 5.78% 3% $0 $237,618 $67,736 $264,997 $69,900 $318,446 $70,609 $403,511 $97,811 $445,477 $107,167 $514,135 $111,525 2% As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 06/30/2025 1% Non Owner-Occupied CRE Owner-Occupied CRE Commercial 1-4 Family State/Muni Loans Consumer Purchased Participations Loan Yields 1Purchased participations are included as part of the loans outstanding; 212/31/2020 through 12/31/2024 data is as of year end; 6/30/2025 is year-to-date F&M TRUST Franklin Financial Services Corporation 15

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![Picture 16](fraf-20250725xex99_1g016.jpg)

Largest Commercial Real Estate Concentrations $600,000 350% $500,000 241.10% 234.40% 239.30% 290.70% 332.90% 349.60% 300% $400,000 $60,343 $49,160 $43,812 $62,439 $66,645 $86,112 250% $300,000 $35,556 $30,938 $55,428 $68,478 $825,185 $90,432 200% $200,000 $54,153 $50,105 $58,382 $87,137 $92,926 $92,847 150% $100,000 $72,079 $75,833 $81,283 $80,670 $97,460 $102,323 100% $0 $24,459 $69,723 $96,515 $120,180 $146,661 $167,748 50% As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 06/30/2025 0% Apartment Units Hotel & Motel Office Shopping Center Land Development CRE Concentrations \*Primarily in South Central Pennsylvania F&M TRUST Franklin Financial Services Corporation 16

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![Picture 17](fraf-20250725xex99_1g017.jpg)

Credit Quality 1.00 0.75 0.50 0.25 0.00 0.87 0.65 0.74 0.44 0.00 0.36 0.00 0.42 0.00 0.57 0.71 0.6 As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 06/30/2025 Nonperforming Loans / Gross Loans UBPR Peer Group 1Nonperforming loans = nonaccrual loans, loans 90 days past due; 2Peer group data as of 3/31/2025 for banks $1 to $3 billion in assets F&M TRUST Franklin Financial Services Corporation 17

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![Picture 18](fraf-20250725xex99_1g018.jpg)

Deposits by Category ($000's) Uninsured/Uncollateralized $2,000,000 100% $1,800,000 90% $1,600,000 80% $1,400,000 70% $1,200,000 60% $1,000,000 50% $800,000 40% $600,000 $76,165.0000 $74,253.0000 $57,390.0000 $132,446.0000 $315,905.0000 $319,835.0000 30% $400,000 $409,178.0000 $511,969.0000 $496,532.0000 $454,517.0000 $417,870.0000 $408,669.0000 20% $200,000 $610,170.0000 $699,734.0000 $698,295.0000 $677,965.0000 8.9% $791,526.0000 15.4% $870,933.0000 11.2% 10% $0 $259,060.0000 11.1% $298,403.0000 9.0% $299,231.0000 8.5% $273,050.0000 $8,677.00 $290,346.0000 $87,057.00 $294,034.0000 $87,057.00 0% As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 06/30/2025 Non-Interest Bearing checking MMA & Savings Interest Bearing Checking Time Time-Brokered Total Uninsured / Uncollateralized 1Brokered deposits are included as part of time deposits F&M TRUST Franklin Financial Services Corporation 18

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![Picture 19](fraf-20250725xex99_1g019.jpg)

Cost of Deposits 2.00 1.50 1.00 0.50 0.00 0.28 0.12 0.23 1.23 1.89 1.95 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 Average cost year-to-date for all periods F&M TRUST Franklin Financial Services Corporation 19

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![Picture 20](fraf-20250725xex99_1g020.jpg)

Liquidity Available at June 30, 2025 Dollars in Thousands (000's) Liquidity Source Capacity Outstanding Available Federal Home Loan Bank $749,537 $200,000 $549,537 Federal Reserve Bank Discount Window $63,559 $– $63,559 Correspondent Banks $76,000 $– $76,000 Total $889,096 $200,000 $689,096 Excess Cash $180,364 On-Balance Sheet Liquidity + Borrowing Capacity / Total Deposits 47.90% On-Balance Sheet Liquidity + Borrowing Capacity / Uninsured & Uncollateralized Deposits 426.30% b F&M TRUST Franklin Financial Services Corporation 20

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![Picture 21](fraf-20250725xex99_1g021.jpg)

Wealth Management $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 $112,624 $836,382 $949,006 $60,060 $118,046 $946,975 $1,065,021 $100,457 $116,398 $904,323 $1,020,722 $147,454 $135,423 $1,094,779 $1,230,202 $217,891 $139,872 $1,169,290 $1,309,162 $109,604 $138,763 $1,221,333 $1,360,096 $91,812 As of 12/31/2020 As of 12/31/2021 As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 As of 06/30/2025 Brokerage Trust Total New Assets Under Management (YTD) F&M TRUST Franklin Financial Services Corporation 21

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![Picture 22](fraf-20250725xex99_1g022.jpg)

Income Statement Highlights Dollars in Thousands (000's) Six Months Ended 6/30/2025 Year End 12/31/2024 Year End 12/31/2023 Year End 12/31/2022 Year End 12/31/2021 Year End 12/31/2020 Interest Income $55,658 $101,451 $76,762 $56,449 $47,573 $45,939 Interest Expense $22,815 $43,937 $23,125 $4,863 $2,902 $3,978 Provision for Credit Losses $1,414 $1,983 $2,724 $650 $(2,100) $4,625 Noninterest Income1 $9,664 $17,946 $15,970 $15,341 $19,361 $15,055 Noninterest Expense $28,965 $55,895 $50,011 $48,691 $43,245 $39,362 Net Income $9,829 $11,099 $13,598 $14,938 $19,616 $12,800 1Excludes net securities gains/losses in all periods F&M TRUST Franklin Financial Services Corporation 22

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![Picture 23](fraf-20250725xex99_1g023.jpg)

Key Performance Measures Percent (%) Six Months Ended 6/30/2025 Year End 12/31/2024 Year End 12/31/2023 Year End 12/31/2022 Year End 12/31/2021 Year End 12/31/2020 Return on Average Assets (ROAA) 0.89 0.54 0.78 0.83 1.17 0.91 Return on Average Equity (ROAE) 13.27 8.05 11.39 11.64 13.20 9.56 Efficiency Ratio1 67.35 73.36 70.75 71.21 66.12 67.32 Net Interest Margin 3.13 2.95 3.31 3.11 2.88 3.21 Non-Interest Income2 / Operating Revenue 22.75 23.28 22.57 22.54 29.46 25.83 1See GAAP versus Non-GAAP reconciliation; 2Excludes securities gains in all periods F&M TRUST Franklin Financial Services Corporation 23

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![Picture 24](fraf-20250725xex99_1g024.jpg)

Balance Sheet Strength Percent (%) As of 6/30/2025 As of 12/31/2024 As of 12/31/2023 As of 12/31/2022 As of 12/31/2021 As of 12/31/2020 Risk-Based Capital Ratio (Total) 13.33 13.85 14.45 17.21 18.41 17.69 Leverage Ratio (Tier 1) 7.78 7.92 9.01 8.95 8.52 8.69 Common Equity Ratio (Tier 1) 10.91 11.31 11.82 14.22 15.20 14.32 Tangible Common Equity Ratio 6.51 6.20 6.74 6.16 8.30 8.82 Tangible Common Equity Ratio excluding AOCI 7.86 7.82 8.98 9.16 8.33 8.61 Nonperforming Assets1 / Total Assets 0.14 0.01 0.01 0.01 0.42 0.57 Allowance for Credit Losses as a % of Loans 1.26 1.26 1.28 1.35 1.51 1.66 Allowance for Credit Losses to Nonaccrual Loans 176.60 NM2 NM3 NM4 NM5 192.89 1Nonperforming assets = nonaccrual loans, loans 90-days past due and other real estate owned; 2Not meaningful = 6,636.47%; 3Not meaningful = 10,919.73%; 4Not meaningful = 11,812.50%; 5Not meaningful = 204.04% F&M TRUST Franklin Financial Services Corporation 24

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![Picture 25](fraf-20250725xex99_1g025.jpg)

Market Statistics Per Share Measure / Market Valuation Six Months Ended 6/30/2025 Year End 12/31/2024 Year End 12/31/2023 Year End 12/31/2022 Year End 12/31/2021 Year End 12/31/2020 Diluted Earnings Per Share $2.20 $2.51 $3.10 $3.36 $4.42 $2.93 Cash Dividend Yield 3.81% 4.28% 4.06% 3.55% 3.87% 4.44% Regular Cash Dividends Paid Per Share $0.65 $1.28 $1.28 $1.28 $1.25 $1.20 Dividend Payout Ratio 29.39% 50.72% 41.15% 37.88% 28.16% 40.83% Market Value Per Share $34.63 $29.90 $31.55 $36.10 $33.10 $27.03 Book Value Per Share $35.22 $32.69 $30.23 $26.01 $35.36 $33.07 Tangible Book Value Per Share1 $33.20 $30.65 $28.17 $23.96 $33.34 $31.02 Market Cap ($M) $154.70 $132.37 $137.91 $158.48 $147.00 $118.63 Price / Book Value (%) 98.31% 91.47% 104.37% 138.79% 93.61% 81.74% Price / Tangible Book Value (%) 104.28% 97.54% 112.01% 150.67% 99.29% 87.13% Price / Earnings Multiple 6.56 11.91 10.18 10.74 7.49 9.23 1See GAAP versus Non-GAAP reconciliation F&M TRUST Franklin Financial Services Corporation 25

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![Picture 26](fraf-20250725xex99_1g026.jpg)

Stock Symbol: FRAF (Nasdaq) www.franklinfin.com www.fmtrust.bank F&M TRUST Franklin Financial Services Corporation 26

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![Picture 27](fraf-20250725xex99_1g027.jpg)

Appendix F&M TRUST Franklin Financial Services Corporation 27

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![Picture 28](fraf-20250725xex99_1g028.jpg)

GAAP / Non-GAAP Reconciliation Tangible Book Value (Per Share) (Non-GAAP) Dollars in Thousands (000's), Except Per Share As of 6/30/2025 As of 12/31/2024 As of 12/31/2023 As of 12/31/2022 As of 12/31/2021 As of 12/31/2020 Shareholders' Equity $157,364 $144,716 $132,136 $114,197 $157,065 $145,176 Less Intangible Assets 9,016 9,016 9,016 9,016 9,016 9,016 Tangible Shareholders' Equity (Non-GAAP) 148,348 135,700 123,120 105,181 148,049 136,160 Less AOCI (30,784) (35,508) (40,940) (51,287) (547) 3,190 Tangible Shareholders' Equity Excluding AOCI (Non-GAAP) 179,132 171,208 164,060 156,468 148,596 132,970 Total Assets 2,286,745 2,197,841 1,836,039 1,699,579 1,773,806 1,535,038 Less Intangible Assets 9,016 9,016 9,016 9,016 9,016 9,016 Total Tangible Assets (Non-GAAP) $2,277,729 $2,188,825 $1,827,023 $1,690,563 $1,764,790 $1,526,022 Tangible Common Equity Ratio (Non-GAAP) 6.51% 6.20% 6.74% 6.22% 8.39% 8.92% Tangible Common Equity Ratio Excluding AOCI (Non-GAAP) 7.86% 7.82% 8.98% 9.26% 8.42% 8.71% Shares Outstanding (In Thousands) 4,468 4,427 4,371 4,390 4,441 4,389 Tangible Book Value Per Share (Non-GAAP) $33.20 $30.65 $28.17 $23.96 $33.34 $31.02 F&M TRUST Franklin Financial Services Corporation 28

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![Picture 29](fraf-20250725xex99_1g029.jpg)

GAAP / Non-GAAP Reconciliation Net Income Excluding Securities Losses / Gains (non-GAAP) Dollars in Thousands (000's) Six Months Ended 6/30/2025 Year End 12/31/2024 Year End 12/31/2023 Year End 12/31/2022 Year End 12/31/2021 Year End 12/31/2020 Securities (Losses) / Gains as Reported $- $(4,267) $(1,119) $(91) $127 $29 Securities (Losses) / Gains as Reported, Net of Tax Benefit (Non-GAAP) - (3,371) (884) (72) 100 23 Noninterest Income as Reported 9,664 13,679 14,851 15,250 19,488 15,084 Plus Securities (Losses) / Gains - 4,267 1,119 91 (127) (29) Noninterest Income Excluding Securities (Losses) / Gains, Net of Tax Benefit (Non-GAAP) 9,664 17,946 15,970 15,341 19,361 15,055 Net Income as Reported 9,829 11,099 13,598 14,938 19,616 12,800 Plus Securities (Losses) / Gains, Net of Tax Benefit - 3,371 884 72 (100) (23) Net Income Excluding Securities (Losses) / Gains, Net of Tax Benefit (Non-GAAP) $9,829 $14,470 $14,482 $15,010 $19,516 $12,777 Return on Average Assets as Reported (ROAA) 0.89% 0.54% 0.78% 0.83% 1.17% 0.91% ROAA Excluding Securities (Losses) / Gains, Net of Tax Benefit (Non-GAAP) 0.89% 0.70% 0.83% 0.84% 1.17% 0.90% Return on Average Equity as Reported (ROAE) 13.27% 8.05% 11.39% 11.64% 13.20% 9.56% ROAE Excluding Securities (Losses) / Gains, Net of Tax Benefit (Non-GAAP) 13.27% 10.50% 12.13% 11.70% 13.13% 9.54% F&M TRUST Franklin Financial Services Corporation 29

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![Picture 30](fraf-20250725xex99_1g030.jpg)

GAAP / Non-GAAP Reconciliation Efficiency Ratio Dollars in Thousands (000's) Six Months Ended 6/30/2025 Year End 12/31/2024 Year End 12/31/2023 Year End 12/31/2022 Year End 12/31/2021 Year End 12/31/2020 Noninterest Expense $28,965 $55,895 $50,011 $48,691 $43,245 $39,362 Net Interest Income 32,843 57,514 53,637 51,586 44,671 41,961 Plus Tax Equivalent Adjustment to Net Interest Income 490 938 1,094 1,381 1,466 1,407 Plus Noninterest Income, Net of Securities Transactions1 9,671 17,737 15,954 15,410 19,271 15,104 Total Revenue $43,004 $76,189 $70,685 $68,377 $65,408 $58,472 Efficiency Ratio (Non-GAAP) 67.35% 73.36% 70.75% 71.21% 66.12% 67.32%r 1Excludes net gains / (losses) on sales of debt securities F&M TRUST Franklin Financial Services Corporation 30

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