LOCAL

F&M Trust is moving its headquarters out of downtown Chambersburg

Amber South
Chambersburg Public Opinion

After more than a century, F&M Trust's corporate headquarters will soon leave downtown Chambersburg. 

The bank plans to move its corporate and operations teams late next year into a 67,000-square-foot former manufacturing facility that straddles the southern line of the Borough of Chambersburg and Guilford Township, according to a news release.

F&M said it will purchase the former home of Danfoss, at 1500 Nitterhouse Drive, for $7 million from CFDC, LLC, which is jointly owned by Chambersburg Area Development Corporation and the Franklin County Area Development Corporation. 

The "state-of-the-art facility," built 10 years ago, will undergo renovations to fit the bank's needs. About 145 employees will go to work in the one-story building, which is on an 11-acre lot and has room to grow, the release states. It is already about 

A rendering of the F&M Trust's planned corporate and operations office at 1500 Nitterhouse Drive, Chambersburg.
F&M Trust plans to move its headquarters into this building at 1500 Nitterhouse Drive late next year, from its century-long location in downtown Chambersburg. This facility formerly housed Danfoss, a manufacturing company. Pictured Aug. 16, 2019.

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F&M, a subsidiary of Franklin Financial Services, has been in downtown Chambersburg since its founding in 1906. Today it has 12 branches in Franklin County and 11 throughout Fulton, Cumberland and Huntingdon counties. 

Timothy G. Henry, president and CEO of F&M Trust, said "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. 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." 

After moving its headquarters to a new facility on Nitterhouse Drive, F&M Trust will continue to lease the first floor of its current headquarters at 20 S. Main St., Chambersburg. Pictured Aug. 15, 2019.

F&M will maintain its community office at 20 S. Main St. While the bank will sell the downtown facility to CFDC for $3.3 million, it will rent back the first floor of the office on Memorial Square. The deal is not yet finalized, however. 

“This represents another $3.3 million investment in the revitalization of downtown Chambersburg. It’s a win, win, win for everyone. It’s a great win for the community. It’s a win for F&M Trust, and it’s a win for us,” said L. Michael Ross, president of FCADC, in the release. 

CADC is glad to support F&M's continuing success and expansion by purchasing its downtown real estate, said Stephen Christian, president and executive director of CADC and the Greater Chambersburg Chamber of Commerce.

"No other financial institution is more thoroughly woven into the fabric of Chambersburg and Franklin County’s community than F&M Trust," he said in the release.  

CADC and FCADC will lease the building's remaining office space out to other tenants. 

The sales of both buildings are expected to close by the end of this year.