Franklin Financial Services Corporation and its subsidiary F&M Trust recently announced plans to relocate their corporate headquarters and operations center to a larger building located in the Borough of Chambersburg and Guilford Township, approximately three miles from the bank’s current location.
The bank is purchasing a former Danfoss manufacturing facility for $7 million from CFDC, LLC, an entity jointly owned by the Franklin County Area Development Corp. (FCADC) and Chambersburg Area Development Corp. (CADC). The 67,000-square-foot Gold LEED building was constructed in 2009 and is located on an 11-acre parcel in Chambersburg.
The company expects to make the move in late 2020 after the bank completes renovations. The building will house approximately 145 employees with room to add employees as needed.
“F&M Trust’s story began in 1906 in downtown Chambersburg, and in many ways, it is bittersweet to move part of our team out of the downtown when there are so many new and exciting things happening,” Timothy G. Henry, president and CEO of F&M Trust, said. “Yet, as the bank continues to grow, we need more space in order to continue to bring high-quality service to our customers. We are very happy that we are able to maintain our presence in Chambersburg, Guilford Township, and Franklin County as we are the only bank headquartered in this area. With this move and renovation, F&M Trust reaffirms its commitment to supporting the vitality of Chambersburg and Franklin County and positions itself for future growth as an independent community bank.”
F&M Trust is selling its current 41,000-square-foot corporate headquarters to CFDC for $3.3 million. CFDC plans to lease the office space to local businesses.
“We were in a unique position to be part of the solution by purchasing the bank’s existing real estate in downtown Chambersburg,” Stephen Christian, president and executive director of CADC and the Greater Chambersburg Chamber of Commerce, said. “We’re excited to support F&M Trust’s continuing success and expansion. No other financial institution is more thoroughly woven into the fabric of Chambersburg and Franklin County’s community than F&M Trust.”
F&M Trust will maintain its current retail community office in downtown Chambersburg by leasing back the first floor of its current office from CFDC. Terms of the lease have not yet been finalized. Both sales agreements are expected to close in the fourth quarter of this year.