Franklin Financial Services Corporation announced earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported interest income was $10,339,000 against $9,544,000 a year ago. Net interest income was $9,648,000 against $8,955,000 a year ago. Loss before income taxes was $6,215,000 against income before income taxes of $1,827,000 a year ago. Net loss was $7,263,000 against net income of $1,723,000 a year ago. Diluted loss per share was $1.67 against diluted earnings per share of $0.4 a year ago. Non GAAP net income of $2,928,000. Non GAAP diluted earnings per share of $0.067. Results for the fourth quarter and the year-to-date period were affected by a $10 million pre-tax expense related to the accrual for a legal settlement and additional tax expense of $2.3 million due to the remeasurement of net deferred tax assets (DTA). The legal settlement is described in the Corporation's current report on Form 8-K filed on January 2, 2018. The remeasurement of the DTA was necessary as a result of the passage of the Tax Cuts and Jobs Act (the Act) in December 2017 that reduced the Corporation's statutory tax rate from 34% to 21%. Passage of the Act is expected to reduce the Corporation's income tax expense in 2018 and on an ongoing basis. For the full year, the company reported interest income was $39,885,000 against $36,979,000 a year ago. Net interest income was $37,394,000 against $34,734,000 a year ago. Income before income taxes was $5,741,000 against $9,389,000 a year ago. Net income was $2,176,000 against $8,087,000 a year ago. Diluted earnings per share was $0.5 against $1.88 a year ago. Non GAAP net income of $12,367,000. Non GAAP diluted earnings per share of $2.84.