Advertisement

Business Briefs - Aug. 11

August 07, 2013

Franklin Financial Services Corp.

CHAMBERSBURG, Pa. — Franklin Financial Services Corp., the bank holding company of F&M Trust, reported earnings of $1.355 million for the quarter ended June 30.

When compared to earnings of $1.906 million for the second quarter of 2012, net income decreased by 28.9 percent. Net income for the first six months of 2013 was $2.906 million, compared with $3.275 million for the same period in 2012, a decline of 11.3 percent.

On a per-share basis, diluted earnings were $0.33 for the quarter ended June 30, 2013, and $0.70 for the first six months of 2013, compared to $0.47 and $0.81 for the same periods in 2012.

Advertisement

Total assets at June 30, 2013, were $1.033 billion, a decline of 2.3 percent over total assets of $1.057 billion at June 30, 2012. Total deposits and repurchase agreements grew 1.4 percent to $920.7 million, while net loans declined 5.4 percent from totals a year earlier to $717.7 million.
 
The board of directors of Franklin Financial Services Corp. declared a $0.17 per share regular cash dividend for the third quarter of 2013.  

That compares to a regular quarterly cash dividend of $0.17 paid in the second quarter of 2013 and in the third quarter of 2012. The quarterly dividend for the third quarter of 2013 represents a 4.25 percent dividend yield based upon the closing price on July 24 of $16 per share.

Total regular cash dividends paid during the first three quarters of 2013 will be $0.51 per share, compared to $0.61 per share paid during the same period in 2012. The third-quarter cash dividend will be paid Aug. 28  to shareholders of record at the close of business Aug. 9.

Meritus Health

Meritus Health recently launched a new and improved website at www.meritushealth.com.
The new site offers users updated explanations of Meritus Health services. A library of health information on topics ranging from diabetes to cancer is coming soon. The new site also features events on the home page.
 

Potomac Bancshares Inc.

CHARLES TOWN, W.Va. — Potomac Bancshares Inc., the one-bank holding company for Bank of Charles Town, earned $588,000, or 17 cents per share, for the quarter ended June 30, compared to net income of $346,000, or 10 cents a share for the quarter ended June 30, 2012. That represents an improvement in earnings of 70 percent over the same period last year.

Year-to-date earnings through June 30, 2013, are 34 cents per share, compared to 19 cents for the first six months of 2012.  Loans, net of reserve for the quarter ended June 30, 2013, were $220.6 million, compared to $211.4 million at Dec. 31, 2012, an improvement of 8.7 percent on an annualized basis.  

The board of directors of Potomac Bancshares at its July 9 meeting declared a 4 cents per share dividend for all shareholders of record on July 22. The cash dividend was to be payable Aug. 1.

The board also adopted a dividend reinvestment and direct stock purchase plan for shareholders and an employee stock purchase plan through its transfer agent, American Stock Transfer and Trust Co. LLC. 

The bank also announced its intent to open a full-service branch in Hagerstown early in the fourth quarter of 2013, subject to regulatory approval.

Susquehanna Bancshares Inc.

LITITZ, Pa. — Susquehanna Bancshares Inc. recently announced that it earned net income for the second quarter ended June 30 of $45.6 million, or $0.24 per diluted share, compared to $37.8 million, or $0.20 per diluted share, for the second quarter of 2012.

Net income for the first six months of 2013 was $88 million, or $0.47 per diluted share, compared with $61.3 million, or $0.34 per diluted share, for the same period in 2012.

The Herald-Mail Articles
|
|
|