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<title>na-20240329</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="c-1" name="dei:AmendmentFlag" format="ixt:fixed-false" id="f-20">false</ix:nonNumeric><ix:nonNumeric contextRef="c-1" name="dei:EntityCentralIndexKey" id="f-21">0000038723</ix:nonNumeric><ix:nonNumeric contextRef="c-1" name="dei:CurrentFiscalYearEndDate" format="ixt:date-month-day" id="f-22">12/31</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="na-20240329.xsd"/></ix:references><ix:resources><xbrli:context id="c-1"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0000038723</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2024-03-29</xbrli:startDate><xbrli:endDate>2024-03-29</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="ic3696773834b499eb5497c8b93fef0ca_1"></div><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:16pt;font-weight:700;line-height:120%">UNITED STATES</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:16pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Washington, D.C. 20549</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:20.029%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:16pt;font-weight:700;line-height:100%">FORM </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:DocumentType" id="f-1">8-K</ix:nonNumeric></span></div></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CURRENT REPORT</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date of Report (date of earliest event reported): <ix:nonNumeric contextRef="c-1" name="dei:DocumentPeriodEndDate" format="ixt:date-monthname-day-year-en" id="f-2"><ix:nonNumeric contextRef="c-1" name="dei:DocumentPeriodEndDate" format="ixt:date-monthname-day-year-en" id="f-3">March&#160;29, 2024</ix:nonNumeric></ix:nonNumeric></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:20.029%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr></table></div><div style="margin-top:3pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:16pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityRegistrantName" id="f-4">1st FRANKLIN FINANCIAL CORPORATION</ix:nonNumeric></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:20.029%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"/></tr></table></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Exact name of Registrant, as specified in its charter)</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:31.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.385%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:31.842%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.385%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:31.846%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityIncorporationStateCountryCode" format="ixt-sec:stateprovnameen" id="f-5">Georgia</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityFileNumber" id="f-6">2-27985</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityTaxIdentificationNumber" id="f-7">58-0521233</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(State or other jurisdiction of incorporation)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Commission File Number)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(I.R.S. Employer Identification Number)</span></td></tr></table></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mailing address: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine1" id="f-8">135 East Tugalo Street</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine2" id="f-9">P.O. Box 880</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressCityOrTown" id="f-10">Toccoa</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressStateOrProvince" id="f-11">GA</ix:nonNumeric> <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressPostalZipCode" id="f-12">30577</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Address of principal executive offices) (Zip code)</span></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Registrant's telephone number, including area code: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(<ix:nonNumeric contextRef="c-1" name="dei:CityAreaCode" id="f-13">706</ix:nonNumeric>) <ix:nonNumeric contextRef="c-1" name="dei:LocalPhoneNumber" id="f-14">886-7571</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">   </span></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Former name or address, if changed since last report:&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">n/a</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span><br/></span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):&#160;</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:WrittenCommunications" format="ixt:fixed-false" id="f-15">&#9744;</ix:nonNumeric> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)&#160;</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:SolicitingMaterial" format="ixt:fixed-false" id="f-16">&#9744;</ix:nonNumeric> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)&#160;</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:PreCommencementTenderOffer" format="ixt:fixed-false" id="f-17">&#9744;</ix:nonNumeric> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))&#160;</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:PreCommencementIssuerTenderOffer" format="ixt:fixed-false" id="f-18">&#9744;</ix:nonNumeric> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))&#160;</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered pursuant to Section 12(b) of the Act: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">None</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).&#160;</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Emerging growth company <ix:nonNumeric contextRef="c-1" name="dei:EntityEmergingGrowthCompany" format="ixt:fixed-false" id="f-19">&#9744;</ix:nonNumeric></span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="ic3696773834b499eb5497c8b93fef0ca_7"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Section 5 &#8211; Corporate Governance and Management</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Item 5.03 &#8211; Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">On March&#160;26, 2024, the Board of Directors of 1st Franklin Financial Corporation, a Georgia corporation (the "Company") approved and adopted amendments to the Company&#8217;s Articles of Incorporation and Bylaws.  The fundamental purpose and operation of the Company remains unchanged.  The Company&#8217;s governing documents, however, have not been amended or updated since 1974.  Therefore, the Company resolved to adopt a revised set of Articles and Bylaws to: (1) modernize the overall language of its governing documents to conform with changes in the law since 1974; (2) grant the Board of Directors greater flexibility to grow the Board as the Company continues to grow; (3) establish a more robust succession planning process for the Board and the Company&#8217;s Officers; and (4) clarify ambiguities in the documents regarding the dual roles of some Directors also serving as Company employees. </span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">A copy of the amended articles of incorporation and bylaws is filed as exhibits to this Current Report on Form 8-K.</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2</span></div></div></div><div id="ic3696773834b499eb5497c8b93fef0ca_113"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Item 9.01. Financial Statements and Exhibits.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(d) Exhibits.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Exhibit No.   Description</span></div><div><span><br/></span></div><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline" href="#ic3696773834b499eb5497c8b93fef0ca_146">Exhibit </a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline" href="#ic3696773834b499eb5497c8b93fef0ca_146">3.1</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">     Amended and Restated Articles of Incorporation</span></div><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline" href="#ic3696773834b499eb5497c8b93fef0ca_166">Exhibit </a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline" href="#ic3696773834b499eb5497c8b93fef0ca_166">3.2</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">     Amended Bylaws</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></div></div></div><div id="ic3696773834b499eb5497c8b93fef0ca_123"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">SIGNATURES</span></div><div style="text-align:center"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:46.999%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:41.591%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">By:</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">/s/ Brian J. Gyomory</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Name:</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Brian J Gyomory</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Title:</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Executive Vice President and CFO</span></div></td></tr></table></div><div style="text-indent:36pt"><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Date:  March 29, 2024</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</span></div></div></div><div id="ic3696773834b499eb5497c8b93fef0ca_146"></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="margin-bottom:8pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">AMENDED AND RESTATED</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">ARTICLES OF INCORPORATION OF</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:700;line-height:100%;position:relative;top:-4.2pt;vertical-align:baseline">ST</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%"> FRANKLIN FINANCIAL CORPORATION&#174;</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">&#160;&#160;&#160;&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Pursuant to GA Code Sections 14-2-1006 and 14-2-1007 (2022), 1st Franklin Financial Corporation&#174; (&#8220;1FFC&#8221;) publishes and submits the within Amended and Restated Articles of Incorporation to amend and restate its current Articles of Incorporation as recorded with the Secretary of State of the State of Georgia. At the Corporate Offices of 1FFC in Toccoa, Georgia on the 26th day of March 2024, the Shareholders conducted a special meeting and adopted these Amended and Restated Articles of Incorporation by unanimous consent.</span></div><div><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">I.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:28.34pt">Corporate Name</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The name of the corporation is 1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:125%;position:relative;top:-4.2pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%"> Franklin Financial Corporation&#174; (&#8220;1FFC&#8221; or the &#8220;Corporation&#8221;) </span></div><div style="padding-left:54pt;text-align:justify"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">II.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:23.68pt">Principal Office</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The principal place of business for 1FFC is 135 E. Tugalo Street, Toccoa, GA  30577 (P.O. Box 880, Toccoa, GA 30577).</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">III.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:19.02pt">Legal Organization</span></div><div style="padding-left:54pt;text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The Corporation is organized pursuant to the provisions of the Georgia Business Corporation Code. </span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">IV.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:19.68pt">Duration of Incorporation</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The Corporation will have perpetual duration.</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">V.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:24.34pt">Purpose of Corporation </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The purpose of the Corporation will be to engage in any lawful purpose or purposes without limitation, and to engage in other lawful businesses from time to time without limitation.</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">VI.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:19.68pt">Incorporator</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The Incorporator for purposes of filing these Amended and Restated Articles of Incorporation is </span></div><div style="padding-left:54pt;text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Benjamin F. Cheek, IV</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">135 E. Tugalo Street</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Toccoa, GA  30577</span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">VII.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:15.02pt">Registered Agent</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The Corporation&#8217;s Registered Agent is:</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Mark J. Scarpitti</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">135 E. Tugalo Street</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Toccoa, GA  30577</span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">(Stephens County, Georgia)</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">VIII.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:10.36pt">Authorized Shares</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%;text-decoration:underline">Section 8.1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;The corporation will have authority to issue the following shares of stock:</span></div><div style="padding-left:54pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">(1)&#160;&#160;&#160;&#160;2,000 shares of voting common stock at $100 par value per share</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">(2)&#160;&#160;&#160;&#160;198,000 shares of non-voting common stock at no ($0.00) par value per share</span></div><div style="padding-left:54pt;text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%;text-decoration:underline">Section 8.2</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;No holder of shares of any class of the capital stock of the corporation will have preemptive rights, and the corporation will have the right to issue and to sell to any person or persons any shares of its capital stock or any option rights or any securities having conversion or option rights, without first offering such shares, rights, or securities to any holders of shares of any class of capital stock of the corporation.</span></div><div style="padding-left:54pt;text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%;text-decoration:underline">Section 8.3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;In addition to the powers to make distributions and purchase its own shares conferred by law, the corporation will have the power to make distributions to its shareholders out of its capital surplus, and to purchase the corporation&#8217;s own shares out of its unreserved and unrestricted capital surplus.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">IX.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:19.68pt">Directors</span></div><div style="padding-left:54pt;text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%;text-decoration:underline">Section 9.1 Makeup of the Board of Directors</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">. By majority vote, the Shareholders of voting common stock will choose the size of the Board of Directors of the Corporation (at least seven (7) Directors and no more than eleven (11) Directors) and will select the Directors to serve on the Board.</span></div><div style="padding-left:36pt;text-align:justify"><span><br/></span></div><div style="padding-left:36pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Section 9.2 Authority of the Directors</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">.  In furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized:</span></div><div><span><br/></span></div><div style="padding-left:90pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(A)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:1.36pt">To make, alter or repeal the Bylaws of the Corporation.</span></div><div style="padding-left:90pt"><span><br/></span></div><div style="padding-left:90pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(B)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:2.02pt">To authorize and cause to be executed mortgages and liens upon the real and personal property of the Corporation.</span></div><div style="margin-bottom:8pt;padding-left:36pt"><span><br/></span></div><div style="padding-left:90pt"><span><br/></span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="padding-left:90pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(C)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:2.02pt">To set apart out of any of the funds of the Corporation available for dividends a reserve or reserves for any proper purpose and to abolish any such reserve in the way it was created.</span></div><div style="padding-left:90pt"><span><br/></span></div><div style="padding-left:90pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(D)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:1.36pt">By resolution adopted at a regular or special meeting of the Board of Directors, to authorize the issuance of any series of preferred stock or any debt security of the Corporation, with full, limited or no voting power, and with such designations, preferences and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, as will be determined by the Board of Directors.</span></div><div><span><br/></span></div><div style="padding-left:90pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(E)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:2.69pt">By resolution passed by a majority of the whole Board of Directors, to designate one or more committees, each committee to consist of two or more of the Directors of the Corporation, which, to the extent provided in the resolution or in the Bylaws of the Corporation, will have and may exercise the powers of the Board of Directors in the management of the business and affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it. Such committee or committees will have such name or names as may be stated in the Bylaws of the Corporation or as may be determined from time to time by resolution adopted by the Board of Directors.</span></div><div style="padding-left:54pt"><span><br/></span></div><div style="padding-left:90pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(F)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:3.35pt">When and as authorized by the affirmative vote of the holders of a majority of the stock issued and outstanding having voting power given at a shareholders&#8217; meeting duly called for that purpose to sell, lease or exchange all of the property and assets of the Corporation, including its goodwill and its corporate franchises, upon such terms and conditions and for such consideration, which may be in whole or in part shares of stock in, and/or other securities of, any other business entity or entities, as its Board of Directors will deem expedient and for the best interests of the Corporation.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%;text-decoration:underline">Section 9.3 Vacancies</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">.&#160;&#160;&#160;&#160;</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Any Director may resign at any time, upon written notice to the Corporation. The entire Board of Directors or any individual director may be removed at any time. During the intervals between annual meetings of shareholders, any vacancy occurring in the Board of Directors caused by resignation, removal, death, or other incapacity, and any newly created Directorships resulting from an increase in the number of Directors, will be filled by a majority vote of the Directors then in office, whether a quorum. Each Director chosen to fill a vacancy, or a newly created directorship will hold office until the next election of Directors.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">X.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:24.34pt">Limitation on Director and Officer Liability</span></div><div style="padding-left:18pt;text-align:justify"><span><br/></span></div><div style="padding-left:4.5pt;text-align:justify;text-indent:31.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">No Director or Officer of the Corporation will be personally liable to the Corporation or its shareholders for monetary damages for breach of duty of care or other duty as a Director or officer, except for liability: (1) for any appropriation, in violation of his or her duties, of any business opportunity of the Corporation; (2) for acts or omissions which involve intentional misconduct or a knowing violation of the law; (3) for the types of liability set forth in Section 14-2-832 of the Code; or (4) for any transaction from which the Director received an improper personal benefit. If the Code is amended after the effective date of this Article to authorize </span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="padding-left:4.5pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">corporate action further limiting the personal liability of Directors or officers, then the liability of a Director or officer of the Corporation will be limited to the fullest extent permitted by the Code, as so amended. Any repeal or modification of the foregoing paragraph by the shareholders of the Corporation will not adversely affect any right or protection of a Director or officer of the Corporation existing at the time of such repeal or modification.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">XI.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:19.68pt">Action Without Meeting</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:4.5pt;text-align:justify;text-indent:31.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">In addition to and not in limitation of any other provisions of the Code and the bylaws of the Corporation, any action required or permitted to be taken at a shareholders meeting may be taken without a meeting of the shareholders if the action is evidenced by one or more written consents describing the action taken, signed by the shareholders who would be entitled to vote at a meeting that number of shares having voting power to cast not less than the minimum number (or numbers, in the case of voting by groups) of votes that would be necessary to authorize or take the action at a meeting at which all shareholders entitled to vote were present and voted. No written consent signed under this provision will be valid unless the consenting shareholder has been furnished the same material that, under the Code, would have been required to be sent to shareholders in a notice of a meeting at which the proposed action would have been submitted to the shareholders for action, or it contains an express waiver of the rights to receive such material.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="padding-left:54pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">XII.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%;padding-left:15.02pt">Amendments</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:4.5pt;text-align:justify;text-indent:31.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">The Corporation reserves the right to amend, alter, change, or repeal any provision contained in these Articles of Incorporation, in the manner now or later prescribed by statute, and all rights conferred upon shareholders here are granted subject to this reservation.</span></div><div style="padding-left:36pt;text-align:justify"><span><br/></span></div><div style="padding-left:4.5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;IN WITNESS WHEREOF, the undersigned executes these Amended and Restated Articles of Incorporation.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:125%;text-decoration:underline">/s/ Benjamin F. Cheek, IV</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">_______________</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Benjamin F. Cheek, IV</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Chairman, Board of Directors</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:125%;position:relative;top:-4.2pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%"> Franklin Financial Corporation</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Attest:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:125%;text-decoration:underline">/s/ Mark J. Scarpitti</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:125%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">_______________</span></div><div style="padding-left:4.5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mark J. Scarpitti</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Secretary</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:125%;position:relative;top:-4.2pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%"> Franklin Financial Corporation</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span><br/></span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CONSENT TO APPOINTMENT AS REGISTERED AGENT</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">TO:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Brad Raffesnsperger</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Secretary of State</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Ex-Officio Corporation Commissioner</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;State of Georgia</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;I, Mark J. Scarpitti, do hereby consent to serve as registered agent for the corporation 1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:125%;position:relative;top:-4.2pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%"> Franklin Financial Corporation&#174;.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;This 26</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:125%;position:relative;top:-4.2pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%"> day of March  2024</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:125%;text-decoration:underline">/s/ Mark J. Scarpitti</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:125%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">_______________</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Mark J. Scarpitti</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Address of registered agent:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">135 E. Tugalo Street</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Toccoa, GA  30577</span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="text-align:justify"><span><br/></span></div><div id="ic3696773834b499eb5497c8b93fef0ca_166"></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">CERTIFICATE OF AMENDED AND RESTATED</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">ARTICLES OF INCORPORATION</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">OF 1</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:700;line-height:100%;position:relative;top:-4.2pt;vertical-align:baseline">ST</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%"> FRANKLIN FINANCIAL CORPORATION&#174;</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Pursuant to Section 14-2-1007 of the Georgia Business Corporation Code, 1</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:100%;position:relative;top:-4.2pt;vertical-align:baseline">st</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> Franklin Financial Corporation, a Georgia Corporation, hereby certifies that:</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">I.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The name of the corporation is: 1</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:100%;position:relative;top:-4.2pt;vertical-align:baseline">st</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> Franklin Financial Corporation.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">II.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Pursuant to Section 14-2-821 of the Georgia Business Corporation Code, the Board of Directors of the Corporation duly adopted resolutions on March 26, 2024 setting forth and declaring advisable that the Corporation amend and restate its Articles of Incorporation by deleting the provisions thereof in their entirety and substituting in lieu thereof new provisions so that, as amended and restated, the provisions shall read in their entirety as hereinafter set forth.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">III.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The Amended and Restated Articles of Incorporation contain amendments which require shareholder approval.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">IV.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Pursuant to Section 14-2-704 of the Georgia Business Corporation Code, a majority of the shareholders of the Corporation duly adopted on March 26, 2024 resolutions approving and adopting the Amended and Restated Articles of Incorporation.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">V.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The Amended and Restated Articles of Incorporation supersede the original Articles of Incorporation and all amendments there.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">VI.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;</span></div><div style="text-indent:24.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The Amended and Restated Articles of Incorporation are attached here.</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">*<br/>*</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">*</span></div><div style="text-align:center"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">Signature Page to Follow<br/>*<br/>*<br/>*</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:72pt;width:100%"><div><span><br/></span></div></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amended and Restated Articles of Incorporation to be executed by its duly authorized officer this 26</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  day of March  2024.</span></div><div style="text-align:justify"><span><br/></span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                  </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:107%;text-decoration:underline">/s/ Benjamin F. Cheek, IV</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">______________   </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                    Benjamin F. Cheek, IV</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                    Chairman, Board of Directors</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                    1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.47pt;font-weight:400;line-height:107%;position:relative;top:-3.48pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%"> Franklin Financial Corporation</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">Attest:                                                                         </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:107%;text-decoration:underline">/s/ Mark J. Scarpitti</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:107%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">_______________</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                    Mark J. Scarpitti</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                    Secretary</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%">                                                                                    1</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.47pt;font-weight:400;line-height:107%;position:relative;top:-3.48pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%"> Franklin Financial Corporation</span></div><div><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</span></div></div></div></body></html>
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na-20240329
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported):
March 29, 2024
1st FRANKLIN FINANCIAL CORPORATION
(Exact name of Registrant, as specified in its charter)
Georgia
2-27985
58-0521233
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification Number)
Mailing address:
135 East Tugalo Street
,
P.O. Box 880
,
Toccoa
,
GA
30577
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:
(
706
)
886-7571
Former name or address, if changed since last report:
n/a
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 5 – Corporate Governance and Management
Item 5.03 – Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On March 26, 2024, the Board of Directors of 1st Franklin Financial Corporation, a Georgia corporation (the "Company") approved and adopted amendments to the Company's Articles of Incorporation and Bylaws.  The fundamental purpose and operation of the Company remains unchanged.  The Company's governing documents, however, have not been amended or updated since 1974.  Therefore, the Company resolved to adopt a revised set of Articles and Bylaws to: (1) modernize the overall language of its governing documents to conform with changes in the law since 1974; (2) grant the Board of Directors greater flexibility to grow the Board as the Company continues to grow; (3) establish a more robust succession planning process for the Board and the Company's Officers; and (4) clarify ambiguities in the documents regarding the dual roles of some Directors also serving as Company employees.
A copy of the amended articles of incorporation and bylaws is filed as exhibits to this Current Report on Form 8-K.
2
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.   Description
Exhibit
3.1
Amended and Restated Articles of Incorporation
Exhibit
3.2
Amended Bylaws
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By:
/s/ Brian J. Gyomory
Name:
Brian J Gyomory
Title:
Executive Vice President and CFO
Date:  March 29, 2024
4
AMENDED AND RESTATED
ARTICLES OF INCORPORATION OF
1
ST
FRANKLIN FINANCIAL CORPORATION®
Pursuant to GA Code Sections 14-2-1006 and 14-2-1007 (2022), 1st Franklin Financial Corporation® ("1FFC") publishes and submits the within Amended and Restated Articles of Incorporation to amend and restate its current Articles of Incorporation as recorded with the Secretary of State of the State of Georgia. At the Corporate Offices of 1FFC in Toccoa, Georgia on the 26th day of March 2024, the Shareholders conducted a special meeting and adopted these Amended and Restated Articles of Incorporation by unanimous consent.
I.
Corporate Name
The name of the corporation is 1
st
Franklin Financial Corporation® ("1FFC" or the "Corporation")
II.
Principal Office
The principal place of business for 1FFC is 135 E. Tugalo Street, Toccoa, GA  30577 (P.O. Box 880, Toccoa, GA 30577).
III.
Legal Organization
The Corporation is organized pursuant to the provisions of the Georgia Business Corporation Code.
IV.
Duration of Incorporation
The Corporation will have perpetual duration.
V.
Purpose of Corporation
The purpose of the Corporation will be to engage in any lawful purpose or purposes without limitation, and to engage in other lawful businesses from time to time without limitation.
VI.
Incorporator
The Incorporator for purposes of filing these Amended and Restated Articles of Incorporation is
Benjamin F. Cheek, IV
135 E. Tugalo Street
Toccoa, GA  30577
1
VII.
Registered Agent
The Corporation's Registered Agent is:
Mark J. Scarpitti
135 E. Tugalo Street
Toccoa, GA  30577
(Stephens County, Georgia)
VIII.
Authorized Shares
Section 8.1
The corporation will have authority to issue the following shares of stock:
(1)    2,000 shares of voting common stock at $100 par value per share
(2)    198,000 shares of non-voting common stock at no ($0.00) par value per share
Section 8.2
No holder of shares of any class of the capital stock of the corporation will have preemptive rights, and the corporation will have the right to issue and to sell to any person or persons any shares of its capital stock or any option rights or any securities having conversion or option rights, without first offering such shares, rights, or securities to any holders of shares of any class of capital stock of the corporation.
Section 8.3
In addition to the powers to make distributions and purchase its own shares conferred by law, the corporation will have the power to make distributions to its shareholders out of its capital surplus, and to purchase the corporation's own shares out of its unreserved and unrestricted capital surplus.
IX.
Directors
Section 9.1 Makeup of the Board of Directors
. By majority vote, the Shareholders of voting common stock will choose the size of the Board of Directors of the Corporation (at least seven (7) Directors and no more than eleven (11) Directors) and will select the Directors to serve on the Board.
Section 9.2 Authority of the Directors
.  In furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized:
(A)
To make, alter or repeal the Bylaws of the Corporation.
(B)
To authorize and cause to be executed mortgages and liens upon the real and personal property of the Corporation.
2
(C)
To set apart out of any of the funds of the Corporation available for dividends a reserve or reserves for any proper purpose and to abolish any such reserve in the way it was created.
(D)
By resolution adopted at a regular or special meeting of the Board of Directors, to authorize the issuance of any series of preferred stock or any debt security of the Corporation, with full, limited or no voting power, and with such designations, preferences and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, as will be determined by the Board of Directors.
(E)
By resolution passed by a majority of the whole Board of Directors, to designate one or more committees, each committee to consist of two or more of the Directors of the Corporation, which, to the extent provided in the resolution or in the Bylaws of the Corporation, will have and may exercise the powers of the Board of Directors in the management of the business and affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it. Such committee or committees will have such name or names as may be stated in the Bylaws of the Corporation or as may be determined from time to time by resolution adopted by the Board of Directors.
(F)
When and as authorized by the affirmative vote of the holders of a majority of the stock issued and outstanding having voting power given at a shareholders' meeting duly called for that purpose to sell, lease or exchange all of the property and assets of the Corporation, including its goodwill and its corporate franchises, upon such terms and conditions and for such consideration, which may be in whole or in part shares of stock in, and/or other securities of, any other business entity or entities, as its Board of Directors will deem expedient and for the best interests of the Corporation.
Section 9.3 Vacancies
.
Any Director may resign at any time, upon written notice to the Corporation. The entire Board of Directors or any individual director may be removed at any time. During the intervals between annual meetings of shareholders, any vacancy occurring in the Board of Directors caused by resignation, removal, death, or other incapacity, and any newly created Directorships resulting from an increase in the number of Directors, will be filled by a majority vote of the Directors then in office, whether a quorum. Each Director chosen to fill a vacancy, or a newly created directorship will hold office until the next election of Directors.
X.
Limitation on Director and Officer Liability
No Director or Officer of the Corporation will be personally liable to the Corporation or its shareholders for monetary damages for breach of duty of care or other duty as a Director or officer, except for liability: (1) for any appropriation, in violation of his or her duties, of any business opportunity of the Corporation; (2) for acts or omissions which involve intentional misconduct or a knowing violation of the law; (3) for the types of liability set forth in Section 14-2-832 of the Code; or (4) for any transaction from which the Director received an improper personal benefit. If the Code is amended after the effective date of this Article to authorize
3
corporate action further limiting the personal liability of Directors or officers, then the liability of a Director or officer of the Corporation will be limited to the fullest extent permitted by the Code, as so amended. Any repeal or modification of the foregoing paragraph by the shareholders of the Corporation will not adversely affect any right or protection of a Director or officer of the Corporation existing at the time of such repeal or modification.
XI.
Action Without Meeting
In addition to and not in limitation of any other provisions of the Code and the bylaws of the Corporation, any action required or permitted to be taken at a shareholders meeting may be taken without a meeting of the shareholders if the action is evidenced by one or more written consents describing the action taken, signed by the shareholders who would be entitled to vote at a meeting that number of shares having voting power to cast not less than the minimum number (or numbers, in the case of voting by groups) of votes that would be necessary to authorize or take the action at a meeting at which all shareholders entitled to vote were present and voted. No written consent signed under this provision will be valid unless the consenting shareholder has been furnished the same material that, under the Code, would have been required to be sent to shareholders in a notice of a meeting at which the proposed action would have been submitted to the shareholders for action, or it contains an express waiver of the rights to receive such material.
XII.
Amendments
The Corporation reserves the right to amend, alter, change, or repeal any provision contained in these Articles of Incorporation, in the manner now or later prescribed by statute, and all rights conferred upon shareholders here are granted subject to this reservation.
IN WITNESS WHEREOF, the undersigned executes these Amended and Restated Articles of Incorporation.
/s/ Benjamin F. Cheek, IV
_______________
Benjamin F. Cheek, IV
Chairman, Board of Directors
1
st
Franklin Financial Corporation
Attest:
/s/ Mark J. Scarpitti
_______________
Mark J. Scarpitti
Secretary
1
st
Franklin Financial Corporation
4
CONSENT TO APPOINTMENT AS REGISTERED AGENT
TO:        Brad Raffesnsperger
Secretary of State
Ex-Officio Corporation Commissioner
State of Georgia
I, Mark J. Scarpitti, do hereby consent to serve as registered agent for the corporation 1
st
Franklin Financial Corporation®.
This 26
th
day of March  2024
/s/ Mark J. Scarpitti
_______________
Mark J. Scarpitti
Address of registered agent:
135 E. Tugalo Street
Toccoa, GA  30577
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CERTIFICATE OF AMENDED AND RESTATED
ARTICLES OF INCORPORATION
OF 1
ST
FRANKLIN FINANCIAL CORPORATION®
Pursuant to Section 14-2-1007 of the Georgia Business Corporation Code, 1
st
Franklin Financial Corporation, a Georgia Corporation, hereby certifies that:
I.
The name of the corporation is: 1
st
Franklin Financial Corporation.
II.
Pursuant to Section 14-2-821 of the Georgia Business Corporation Code, the Board of Directors of the Corporation duly adopted resolutions on March 26, 2024 setting forth and declaring advisable that the Corporation amend and restate its Articles of Incorporation by deleting the provisions thereof in their entirety and substituting in lieu thereof new provisions so that, as amended and restated, the provisions shall read in their entirety as hereinafter set forth.
III.
The Amended and Restated Articles of Incorporation contain amendments which require shareholder approval.
IV.
Pursuant to Section 14-2-704 of the Georgia Business Corporation Code, a majority of the shareholders of the Corporation duly adopted on March 26, 2024 resolutions approving and adopting the Amended and Restated Articles of Incorporation.
V.
The Amended and Restated Articles of Incorporation supersede the original Articles of Incorporation and all amendments there.
VI.
The Amended and Restated Articles of Incorporation are attached here.
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Signature Page to Follow
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IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amended and Restated Articles of Incorporation to be executed by its duly authorized officer this 26
th
day of March  2024.
/s/ Benjamin F. Cheek, IV
______________
Benjamin F. Cheek, IV
Chairman, Board of Directors
1
st
Franklin Financial Corporation
Attest:
/s/ Mark J. Scarpitti
_______________
Mark J. Scarpitti
Secretary
1
st
Franklin Financial Corporation
7