Craig Best Joins F&M Trust as New President
People | Jan 20, 2025 | EIN
Craig Best has been appointed as the new president of F&M Trust, a Pennsylvania-based community bank, marking a significant leadership transition at the institution. Best, with a rich background in financial management and mergers and acquisitions, takes over from Tim Henry, who will retire at the end of April after nine years of service. During his tenure, Henry contributed to the bank's stability and growth. Best's previous role was as president and CEO of Peoples Security Bank & Trust, where he achieved substantial asset growth. His appointment is seen as a continuation of visionary leadership at F&M Trust. The bank is positioned for further development under Best’s leadership, who will become CEO following Henry's retirement. F&M Trust operates 23 community-banking locations across Pennsylvania and Maryland with assets totaling approximately $2.2 billion.
Sectors
- Banking
- Financial Services
Geography
- Pennsylvania, USA – F&M Trust, headquartered in Chambersburg, operates primarily in Pennsylvania, where it has multiple community banking locations.
- Maryland, USA – The bank also serves areas in Maryland, contributing to its geographical operational footprint.
Industry
- Banking – This article primarily involves the banking industry with a focus on leadership changes within community banking institutions.
- Financial Services – Craig Best's extensive background in mergers and acquisitions, corporate banking, and strategic planning highlights the broader context of financial services.
Financials
- $2.2 billion – Total assets of F&M Trust.
- $5.5 billion – Asset value achieved under Craig Best's leadership at Peoples Security Bank & Trust.
- $412 million – Original asset value of Peoples Security Bank & Trust before Craig Best's leadership.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| F&M Trust | Target Company | Company | An independent community bank headquartered in Chambersburg, Pennsylvania. |
| Franklin Financial Services Corporation | Parent Company | Company | The parent company of F&M Trust. |
| Craig Best | New President | Person | Recently appointed president of F&M Trust with a background in banking and financial management. |
| Tim Henry | Outgoing President | Person | The retiring president of F&M Trust, who led the bank for nine years. |
| G. Warren Elliott | Chairman of the Board of Directors | Person | Chairman of Franklin Financial Services Corporation and F&M Trust. |