F&M Trust Celebrates 120th Anniversary

F&M Trust has a rich history of delivering customized and innovative financial solutions to its community, positioned as a symbol of financial strength and stability in Central Pennsylvania for 120 years. The bank proudly stands today as the largest locally owned and managed community bank headquartered in Franklin County, Pennsylvania.

Founded on February 5, 1906, by a diverse group of businessmen, lawyers, farmers, and doctors, the
 Farmers and Merchants Trust Company of Chambersburg, PA, was established to offer expanded financial services to the local community. The bank’s first location opened its doors in 1906, and by 1918, F&M Trust had relocated its headquarters to 20 South Main Street in downtown Chambersburg.

In its first two decades, F&M Trust experienced substantial growth and successfully weathered the challenges brought on by the Stock Market Crash and Great Depression. The bank’s leadership guided it through this turbulent period, ensuring ongoing financial stability and growth. F&M Trust was one of the first banks to nationally join the FDIC when it was formed in 1933.

As the years progressed, F&M Trust not only became a trusted community institution but also emerged as a leader among its peers. The bank initiated several firsts in the region, including establishing a retirement fund for employees in 1952 and opening Franklin County’s first drive-up window. This drive-up facility was notable for its modern features, such as heated lanes designed to eliminate ice and snow, making it one of the first of its kind to employ such technology.

With a vision for growth, F&M Trust opened its second location in Chambersburg in 1955, followed by a third in 1959. The 1960s and 1970s saw the addition of four more offices in the area. In 1983, F&M Trust installed four automated teller machines (ATMs) and in 1987 the bank’s holding company, Franklin Financial Services Corporation, was formed. The bank expanded into Cumberland County and the Capital Region in 1996 by opening three new community offices. In 2006, F&M Trust acquired Fulton County National Bank & Trust Company, extending its presence into Fulton and Huntingdon counties.

In 2019, the bank’s holding company, Franklin Financial Service Corporation, began listing its common stock on the Nasdaq Stock Market – one of the world's largest exchanges. Further growth continued in 2021 with the opening of a regional headquarters in Harrisburg. Most recently, F&M Trust opened new Community Offices in Hagerstown, Maryland, in 2022, and in Dauphin County on Linglestown Road in 2024. F&M Trust also moved into its new corporate headquarters in 2022, located at 1500 Nitterhouse Drive in both the Borough of Chambersburg and Guilford Township in Franklin County. This 67,000 square foot state-of-the-art facility is on an 11-acre parcel and houses roughly 145 employees with the capacity for additional employees as the bank continues to grow.

“Reaching this milestone is a moment of pride for F&M Trust and it’s exciting to see how we’ve grown and remained an independent community bank for 120 years,” said Craig Best, President & CEO of F&M Trust. “While banking has certainly changed over the years and we must continue to evolve, our focus will always be on building and protecting our customers’ wealth and maintaining long-term, loyal relationships.”

Throughout its history, F&M Trust has proactively adopted emerging technologies, including offering online banking services in 2001 and introducing its first mobile banking app in 2012. In 2018, F&M Trust launched a completely redesigned website, becoming the first bank in Central Pennsylvania to feature a .BANK domain. F&M Trust is constantly introducing new digital solutions for easy access, while at the same time offering better safeguards to protect customers from the increasing threat of fraud.

Since its founding in 1906, F&M Trust has been actively engaged in the communities it serves. Bank employees annually contribute more than 2,200 volunteer service hours to local organizations, and dozens of employees hold positions of leadership in community groups and serve on the boards of directors for local nonprofit agencies. Additionally, the bank donates an average of at least $500,000 to over 280 organizations across its regional footprint, including student scholarships and grants through Pennsylvania’s EITC program.

“As our bank has grown, so too has our commitment to our customers, our communities, our shareholders, and to our employees,” said G. Warren Elliott, Chairman of the Board of Directors for Franklin Financial Services Corporation and F&M Trust. “To do so requires that we deploy the latest technology, combined with having employees that are dedicated to accepting nothing less than delivering superior service and achieving the best results every day. With this formula, and 120 years of proven success behind us, I am very optimistic about our future.”