Franklin Financial Services Corp. Announces Board and Officer Changes
Ticker: FRAF · Form: 8-K · Filed: Jan 14, 2025 · CIK: 723646
| Field | Detail |
|---|---|
| Company | Franklin Financial Services Corp /Pa/ (FRAF) |
| Form Type | 8-K |
| Filed Date | Jan 14, 2025 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $6.2 billion, $414,986, $523,198, $50,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes
TL;DR
Franklin Financial Services Corp. (FFSC) is shuffling its board and execs, effective Jan 14, 2025.
AI Summary
Franklin Financial Services Corporation announced on January 14, 2025, changes in its board of directors and executive officers. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key personnel. The company, incorporated in Pennsylvania, operates in the commercial banking sector.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy, governance, or operational focus, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes, such as director departures and officer appointments, which typically carry low immediate risk.
Key Numbers
- 001-38884 — SEC File Number (Identifies the company's filing with the SEC.)
- 25-1440803 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- FRANKLIN FINANCIAL SERVICES CORPORATION (company) — Registrant
- Pennsylvania (location) — State of incorporation
- January 14, 2025 (date) — Date of report
FAQ
What specific roles have been affected by the departure of officers?
The filing indicates the departure of certain officers but does not specify the exact roles in this section.
Who are the newly elected directors?
The filing mentions the election of directors but does not list their names in this summary section.
Are there any changes to the company's principal executive office address?
No, the principal executive office remains at 1500 Nitterhouse Drive, Chambersburg, PA 17201.
What is the SIC code for Franklin Financial Services Corporation?
The Standard Industrial Classification code is 6022 for State Commercial Banks.
When was this Form 8-K filed?
This Form 8-K was filed on January 14, 2025.
Filing Stats: 1,298 words · 5 min read · ~4 pages · Grade level 12 · Accepted 2025-01-14 16:02:00
Key Financial Figures
- $6.2 billion — g Officer of First Commonwealth Bank, a $6.2 billion financial services institution headquar
- $414,986 — to customary withholdings and taxes of $414,986, and no later than April 30, 2025, Mr.
- $523,198 — Mr. Best's salary will be increased to $523,198. Mr. Best's annual base salary may be a
- $50,000 — on, the Corporation shall provide up to $50,000 of relocation expenses. Mr. Best will a
Filing Documents
- fraf-20250114x8k.htm (8-K) — 79KB
- fraf-20250114xex99_1.htm (EX-99.1) — 220KB
- 0000723646-25-000003.txt ( ) — 442KB
- fraf-20250114.xsd (EX-101.SCH) — 2KB
- fraf-20250114_lab.xml (EX-101.LAB) — 14KB
- fraf-20250114_pre.xml (EX-101.PRE) — 10KB
- fraf-20250114x8k_htm.xml (XML) — 5KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits . (c) Exhibits. The following exhibits are filed herewith: Number Description 99.1 Employment Agreement by and among Franklin Financial Services Corporation, Farmers and Merchants Trust Company of Chambersburg, and Craig W. Best dated as of January 14, 2025. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURES
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/ Timothy G. Henry Timothy G. Henry President and Chief Executive Officer Dated: January 14, 2025