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): July 11, 2008 (July 11, 2008)

FRANKLIN FINANCIAL SERVICES CORPORATION
(Exact name of registrant as specified in its new charter)

Pennsylvania	0-12126	23-1440803
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

20 South Main Street, Chambersburg, PA	17201
(Address of Principal Executive Offices)	(Zip Code)

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

N/A

(Former name or former address if changed since last report.)

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:

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 8.01 Other Events.

The news release of Franklin Financial Services Corporation, dated July 11, 2008 and attached as Exhibit 99.1, relates to the authorization to repurchase up to 100,000 shares of common stock in open market or privately negotiated transactions and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

The following exhibits are filed herewith:

Number	Description
99 .1	Press Release, dated July 11, 2008 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: July 11, 2008

EX-99.1

Exhibit 99.1

PRESS RELEASE

For Immediate Release	Contact:
	Kenneth C. Ditzler Franklin Financial Services Corporation (717) 264-6116

CHAMBERSBURG, PENNSYLVANIA, July 11, 2008 – Franklin Financial Services Corporation, the parent bank holding company of Farmers and Merchants Trust Company of Chambersburg, today announced that its Board of Directors has authorized the repurchase of up to 100,000 shares of its $1.00 par value common stock, representing approximately 3% of such shares now issued and outstanding. The repurchases are to be made from time to time during the next 12 months in open market or privately negotiated transactions.

According to President and Chief Executive Officer William E. Snell, Jr., the repurchased shares will be held as treasury shares available for issuance in connection with future stock dividends and stock splits, employee benefit plans, executive compensation plans, the Dividend Reinvestment Plan, and other appropriate corporate purposes. Franklin Financial has repurchased approximately 49,000 shares of common stock during the past 12 months pursuant to a stock repurchase program authorized by the Board of Directors last year.

Franklin Financial Services Corporation is a Chambersburg, Pennsylvania based bank holding company with assets of approximately $852 million. Its wholly-owned subsidiary, Farmers and Merchants Trust Company of Chambersburg, is an independent community bank that operates twenty-four banking offices throughout Franklin, Fulton, Cumberland, and Huntingdon Counties, Pennsylvania.