Craig Best Joins F&M Trust as President, Succeeding Tim Henry
Portfolio - People | Jan 31, 2025 | EIN
F&M Trust, a community bank headquartered in Chambersburg and a subsidiary of Franklin Financial Services Corporation, has appointed Craig Best as its new President. Best takes over from Tim Henry, who has served as President and CEO for nine years and will retire in April 2025. Best joins F&M Trust from Peoples Security Bank & Trust, where he significantly increased the bank's assets through a successful 18-year tenure. At F&M Trust, Best will focus on expanding market share, maintaining the bank's culture, and connecting with customers. Despite Tim Henry's pending retirement, his leadership has left F&M Trust in a strong position for future success. Best's strong track record in mergers and acquisitions, strategic planning, and investor relations is expected to drive F&M Trust's growth and performance further. Franklin Financial Services Corporation and F&M Trust are optimistic about Best's ability to lead the bank into its next era.
Sectors
- Banking
- Financial Services
Geography
- United States – F&M Trust and Peoples Security Bank & Trust are both located in the United States, specifically in Pennsylvania and Maryland.
- Pennsylvania – Both F&M Trust and Peoples Security Bank & Trust are headquartered in Pennsylvania.
Industry
- Banking – The article discusses a leadership change in a community bank, F&M Trust, highlighting strategic goals such as market growth and community engagement.
- Financial Services – Craig Best's experience and strategic focus, including mergers, acquisitions, and investor relations, relate to the broader financial services sector.
Financials
- $2.2 billion – The asset size of F&M Trust.
- $5.5 billion – The asset size achieved by Peoples Security Bank & Trust under Craig Best's leadership.
- $412 million – The initial asset size of Peoples Security Bank & Trust before Craig Best’s expansion efforts.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Craig Best | President of F&M Trust | Person | Recently appointed as the President of F&M Trust, succeeding Tim Henry. |
| Tim Henry | Outgoing President and CEO of F&M Trust | Person | The current CEO of F&M Trust, set to retire in April 2025. |
| F&M Trust | Target Company | Company | An independent community bank and a subsidiary of Franklin Financial Services Corporation. |
| Franklin Financial Services Corporation | Parent Company | Company | The parent company of F&M Trust. |
| Peoples Security Bank & Trust | Previous Employer | Company | Craig Best’s previous employer, where he served as President and CEO. |
| G. Warren Elliott | Chairman of the Board of Directors | Person | Chairman for Franklin Financial Services Corporation and F&M Trust. |