8-K

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)  January 5, 2011

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(b)  Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

The news release of Franklin Financial Services Corporation attached as Exhibit 99.1, announces the retirement of Jeryl C. Miller from the Board of Directors of Franklin Financial Services Corporation and its wholly-owned subsidiary, Farmers and Merchants Trust Company of Chambersburg, effective as of the close of business on December 31, 2010, having reached the mandatory retirement age of 70.

Item 9.01  Financial Statements and Exhibits.

     (c)  Exhibits.

     The following exhibits are filed herewith:

Number                              Description

    99 ..1                         Press Release of Franklin Financial Services Corporation

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: January 5, 2011

EX-99.1

Miller retires from Franklin Financial, F&M Trust boards

Franklin Financial Services Corporation announced that Jeryl C. Miller retired from the boards of directors of both Franklin Financial and its subsidiary, F&M Trust, effective December 31, 2010.

Miller joined the boards of Franklin Financial and F&M Trust in 1983.  During his tenure he served on a variety of board committees, most recently the audit, executive, personnel, and trust committees, having served as chair of the audit committee since 1997.  Miller, vice president and secretary of Charles W. Karper, Inc., was re-elected to the board for the ninth time in 2010.

“Over the last 27 years, Jerry has exhibited integrity, professionalism and wisdom during his service on the board,” commented William E. Snell, Jr., president and CEO. “We will miss his invaluable insight and contributions. We express our sincere gratitude to him and wish him the very best in his retirement.”

Franklin Financial is the parent company of F&M Trust, the largest independent, locally owned and operated community bank headquartered in Franklin County with assets of approximately $970 million.  F&M Trust has twenty-five community banking offices located through Franklin, Cumberland, Fulton, and Huntingdon Counties in Chambersburg, St. Thomas, Marion, Greencastle, Mont Alto, Waynesboro, Shippensburg, Boiling Springs, Camp Hill, Carlisle, Newville, McConnellsburg, Orbisonia, Hustontown, and Warfordsburg.  Franklin Financial stock is listed on the over-the-counter market under the symbol FRAF.