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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.
On January 28, 2013, the Federal Reserve Bank of Boston approved the holding company application to establish Franklin Bancorp, MHC (MHC), and for MHC to acquire 100 percent of the shares of the Franklin Savings Bank.
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.
Franklin Savings Bank ended 2019 with total assets of $457.0 million and net income of $3.9 million.
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.
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.