0000723646-15-000031.txt : 20151217 0000723646-15-000031.hdr.sgml : 20151217 20151217170324 ACCESSION NUMBER: 0000723646-15-000031 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20151217 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20151217 DATE AS OF CHANGE: 20151217 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN FINANCIAL SERVICES CORP /PA/ CENTRAL INDEX KEY: 0000723646 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 251440803 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12126 FILM NUMBER: 151294359 BUSINESS ADDRESS: STREET 1: 20 S MAIN ST STREET 2: P O BOX 6010 CITY: CHAMBERSBURG STATE: PA ZIP: 17201-0819 BUSINESS PHONE: 7172646116 MAIL ADDRESS: STREET 1: 20 SOUTH MAIN ST STREET 2: PO BOX 6010 CITY: CHAMBERSBURG STATE: PA ZIP: 17201-0819 8-K 1 fraf-20151217x8k.htm 8-K 2015 Henry Appointment

 

 

 

 

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: December 17, 2015

 

FRANKLIN FINANCIAL SERVICES CORPORATION

(Exact name of registrant as specified in its new charter)

 

Pennsylvania                                  0-12126                        25-1440803

(State or other jurisdiction             (Commission                      (IRS Employer

of incorporation)                     File Number)                      Indent. No.)

 

20 South Main Street, Chambersburg, PA                                        17201

          (Address of principal executive office)                                       (Zip Code)

 

Registrant's telephone number, including area code                     (717) 264-6116

 

N/A

(Former name or former address, if changes since last report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a –12 under the Exchange Act (17 CFR 240.14a –12)

 

o

Pre-commencement communications pursuant to Rule 14d – 2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

Pre-commencement communications pursuant to Rule 13e – 4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

 

On December 17, 2015, the Board of Directors of Franklin Financial Services Corporation (the “Corporation”) announced that Timothy G. Henry will become President of the Corporation and its wholly-owned banking subsidiary, Farmers and Merchants Trust Company of Chambersburg (the“Bank”), effective February 1, 2016.

 

Mr. Henry, 57, has more than 33 years of banking experience that includes: commercial lending, loan workout, retail management, private banking, investment and trust services, operations, risk management and compliance. He earned a Bachelor of Science degree in Dairy Science from Pennsylvania State University and an MBA from St. Joseph’s University.  Mr. Henry’s background and experience are more thoroughly described in the attached news release announcing his appointment.

 

Mr. Henry has not entered into any employment agreement with the Corporation or the Bank in connection with his appointment. He will be able to participate in all eligible Executive Compensation plans as described in the Corporation’s Proxy Statement incorporated by reference into its annual report on Form 10-K for the fiscal year ended December 31, 2014.

 

The news release announcing the appointment of Mr. Henry is attached to this report as Exhibit 99.1.

 

 

Item 9.01 Financial Statements and Exhibits

 

(c) Exhibits. The following exhibits are filed herewith:

 

NumberDescription

 

99.1News Release dated December  17, 2015

 

 

                                                        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.

 

FRANKLIN FINANCIAL SERVICES CORPORATION                                                         

 

By: /s/ William E. Snell, Jr.

William E. Snell, Jr., President

                                                                        and Chief Executive Officer

 

Dated: December 17, 2015

 

 

EXHIBIT INDEX

 

 

Exhibit No.

 

99.1

  News Release, dated December  17, 2015 of Franklin Financial Services Corporation

 

 

EX-99.1 2 fraf-20151217ex99195e711.htm EX-99.1 8-K 2015 Henry Appointment-Exh 991 SCRUBBED

 

 

 

 

Exhibit 99.1

 

December 17, 2015

 

Franklin Financial, F&M Trust Announces New President

 

(Chambersburg, PA)  The Board of Directors of Franklin Financial Services Corporation, the bank holding company of F&M Trust, announced that Timothy Henry will become the President of Franklin Financial Services Corporation and F&M Trust effective February 1, 2016. William E. Snell, Jr., who has served as President and CEO since 1995, will continue as CEO and a member of the Board of Directors. Henry will be based at the Bank’s corporate headquarters in Chambersburg, PA.

 

“With more than 33 years of banking experience, Tim understands the needs of our customers and shares our vision to remain a high-performing independent community bank,” said G. Warren Elliott, Chairman of the Board for Franklin Financial and F&M Trust.

 

Henry has extensive experience in commercial lending, loan workout, retail management, private banking, trust and investment services, operations, risk management and compliance. He started his banking career with Farm Credit (Baltimore District) in 1982 and Commonwealth National Bank in 1984 as an Ag Lender. After Commonwealth was acquired by Mellon in 1986, Henry joined the commercial team at Maryland National Bank. He was part of a four-person LPO based in Harrisburg that developed business with middle market companies in the region.

 

Henry spent most of his career, over 16 years, with Fulton Financial. He started in 1991 as a Division Manager where he supervised 13 retail locations that focused on client outreach efforts in Lancaster County, PA, through commercial and consumer lending, deposit gathering, wealth, trust and investment solutions. Henry subsequently became the Private Banking Manager for Fulton Financial Trust Company focusing solely on business development and client management. He transferred in 1997 to Fulton’s affiliate in Hagerstown, MD, Hagerstown Trust Company, as its Senior Lender.

 

In 2007, Henry joined Centra Bank, a startup in the Washington County, MD, market as CEO. He was instrumental in growing the bank over a four year period before it was ultimately acquired by United Bank in West Virginia. Following the acquisition, Henry joined another de novo, BlueRidge Bank, based in Frederick, MD, in 2011 where he was responsible for developing its presence in Washington County, MD. Most recently, Henry has served as Senior Vice President and Commercial Executive in Washington County, MD, for Susquehanna Bank and BB&T since 2013.

 

“I am honored to have this opportunity and look forward to continue delivering the highest quality service to our customers, shareholders and communities,” said Henry. “I believe my experience has prepared me to lead such a great

 

company.”

 

Henry has been active in a leadership role with a number of industry and community organizations including the Boys & Girls Club of Washington County, Greater Hagerstown Committee, Hagerstown-Washington County Chamber of Commerce, Washington County Economic Development Commission and the PenMar Development Corporation. He fully intends to serve the community with similar organizations in the Chambersburg and Franklin County markets.

 

In recognizing William Snell’s significant contribution to the bank, Elliott said, “We have been fortunate to have a leader of Bill’s experience and caliber during some of the most challenging times in the industry. The Board extends its heartfelt thanks for his guidance and commitment to Franklin Financial and F&M Trust during a very distinguished banking career.”

 

Snell will remain as CEO through a transition period of approximately six months. He will also be engaged in a consulting capacity following the transition period. “I think we have found a perfect fit culturally for our company and our markets,” said Snell. “I am looking forward to working closely with Tim and the Board to ensure a seamless transition.”

 

Franklin Financial is the largest independent, locally owned and operated bank holding company headquartered in Franklin County with assets of more than $1 billion. Its wholly-owned subsidiary, F&M Trust, has twenty-two community banking offices located in Boiling Springs, Camp Hill, Carlisle, Chambersburg, Greencastle, Hustontown, McConnellsburg, Mechanicsburg, Mont Alto, Marion, Newville, Orbisonia, Shippensburg and Waynesboro. Franklin Financial stock trades on the OTCQX® marketplace of the OTC Markets under the symbol FRAF. Please visit our website for more information, www.franklinfin.com.