Franklin Bancorp Inc. Declares $0.08 Quarterly Cash Dividend On Common Stock

Southfield, Michigan – April 27, 2004 – (NASDAQ:FBCP) The Board of Directors of Franklin Bancorp, Inc., declared the payment of a cash dividend to common shareholders of $0.08 per share to be paid on May 14, 2004 to shareholders of record on May 1, 2004. At March 31, 2004 there were 3,782,882 common shares outstanding.

Franklin Bancorp serves as the holding company of Franklin Bank, National Association, and is headquartered in Southfield, Michigan. Franklin Bank specializes in serving small and medium-sized business customers and their owners throughout the metropolitan Detroit area. Franklin Bank’s Executive Offices, Business Center, and one Regional Branch are located in Southfield, Michigan, with additional Regional Branches in Birmingham, Troy and Grosse Pointes Woods. In addition, Franklin operates Lending Center Offices in Northville and Grand Blanc. Visit Franklin’s website at www. franklinbank.com.

###