Franklin Financial Corporation Announces Approval Program to Repurchase Nearly 5% of Common Stock

Franklin Financial Corporation FRNK, the parent company of Franklin Federal Savings Bank, today announced that its Board of Directors at its meeting on September 12, 2012 approved a second share repurchase program. The new repurchase program provides for the repurchase of up to 679,385 shares, or approximately 5%, of the Company's common stock that will be outstanding upon completion of the first share repurchase program, announced on May 3, 2012, which had 95,741 shares remaining to be purchased as of the close of trading on September 11, 2012. The new repurchases will commence upon completion of the first share repurchase program. Repurchases will be made from time to time, in the open market or through privately negotiated transactions, as and when deemed appropriate by management and under any plan that may be deployed in accordance with SEC Rule 10b5-1. Richard T. Wheeler, Jr., Chairman, President and CEO, stated, "Our strong capital position provides us with the flexibility to repurchase shares when the opportunities arise and reinforces our commitment to enhance long-term shareholder value."