Alaska Employee Stock Ownership Plan of Franklin Savings Bank - Detailed
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How to fill out Employee Stock Ownership Plan Of Franklin Savings Bank - Detailed?
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FAQ
? An ESOP is an employee benefit plan that enables employees to own part or all of the company they work for. ESOPs are most commonly used to facilitate succession planning, allowing a company owner to sell his or her. shares and transition flexibly out of the business.
Franklin Savings Bank ended 2019 with total assets of $457.0 million and net income of $3.9 million.
Two exceptional employees who exemplify capability, dedication and optimism. We closed out fiscal year 2023 with assets reaching $1.6 billion and solid deposit balances of $1.2 billion. Net income came in at $7.8 million and GSB's retained earnings topped $149 million.
Contributions may include new shares of stock, company cash to buy existing shares or borrowed money to buy stock. If you borrow from an ESOP, both principal and interest paid back are deductible.
Our assets grew by 3%, reaching over $578m at fiscal year-end 2022 and our lending teams; commercial, residential and consumer, remained active in expanding existing relationships and developing new ones.
Total assets ended 2022 at nearly $1.3 billion, growing $47 million over 2021. Our loan portfolio grew by 11.7% to $725 million. In 2022, the bank originated $340 million in loans to individuals, businesses and municipalities across our market.
For additional information contact Darrell Rains, Chief Financial Officer, at (803) 641-3000. >> Total assets increased $80.2 million, or 6.2%, during the year to $1.4 billion at December 31, 2022.