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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DATE OF REPORT (Date of Earliest Event Reported):
March 22, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>FRANKLIN FINANCIAL SERVICES CORPORATION</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>PENNSYLVANIA</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0; text-decoration: underline; text-align: center">0-12126</TD>
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0; text-align: center"><U>25-1440803</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Commission file number)</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(IRS employer ID)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-decoration: underline; text-align: center">20 South Main Street, Chambersburg, Pennsylvania</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-decoration: underline; text-align: center">17201</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Address of principal executive office)</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant's telephone number, including
area code &ndash; (717) 264-6116</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>N/A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name, address and fiscal year, if
changed since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">[ ]&#9;Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">[ ]&#9;Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">[ ]&#9;Pre-commencement communications
pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-indent: -0.5in">[ ]&#9;Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Item 5.05.&#9;Amendments to the Registrant&rsquo;s
Code of Ethics, or Waiver of a Provision of the Code of Ethics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">On March 22, 2012,
the Board of Directors of Franklin Financial Services Corporation (the &ldquo;Corporation&rdquo;) adopted an amended and restated
Supplemental Code of Business Ethics and Conduct for Directors and Officers (the &ldquo;Supplemental Code&rdquo;) and a Code of
Ethics Applicable to Senior Executives (the &ldquo;Senior Executives Code&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">The Supplemental
Code supplements the Corporation&rsquo;s Code of Business Ethics and Conduct applicable to all employees, officers and directors
of the Corporation by providing for annual disclosures by executive officers and directors of related interests of such persons
that could present a conflict of interest for such persons if the Corporation would do business with a related interest. The amendments
to the Supplemental Code adopted by the Board of Directors are intended to clarify the related interests that executive officers
and directors are intended to disclose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">The Senior Executives
Code also supplements the Code of Business Ethics and Conduct applicable to all employees, officers and directors by requiring
the chief executive officer, chief financial officer, principal accounting officer, controller or other positions performing similar
functions to assure full, fair, accurate, timely and understandable disclosure in reports and documents the Corporation files with
or submits to the Securities and Exchange Commission, as required by the Sarbanes-Oxley Act, and in all other regulatory filings
and communications with the Corporation&rsquo;s stockholders or the general public. The Senior Executives Code breaks out as to
such officers and with more specificity the general policy with respect to such matters applicable to all employees, officers and
directors set forth in the Code of Business Ethics and Conduct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">The Supplemental
Code and the Senior Executives Code are attached to this report as Exhibits 14.1 and 14.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">Item 9.01 Financial
Statements and Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72.1pt; text-align: justify; text-indent: -35.25pt">(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exhibits</U>. The following exhibits are filed herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in; padding-right: 0; padding-left: 0"></TD><TD STYLE="width: 1in; padding-right: 0; padding-left: 0"><U>Number</U></TD><TD STYLE="text-align: justify; padding-right: 0; padding-left: 0"><U>Description</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in; padding-right: 0; padding-left: 0"></TD><TD STYLE="width: 1in; padding-right: 0; padding-left: 0">14.1</TD><TD STYLE="text-align: justify; padding-right: 0; padding-left: 0">Amended and Restated Supplemental Code of Business Ethics and Conduct for Directors and Officers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in; padding-right: 0; padding-left: 0"></TD><TD STYLE="width: 1in; padding-right: 0; padding-left: 0">14.2</TD><TD STYLE="text-align: justify; padding-right: 0; padding-left: 0">Code of Ethics Applicable to Senior Executives</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0">Franklin Financial Services Corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">Date: March 23, 2012</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">/s/ William E. Snell, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">William E. Snell, Jr., President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>EXHIBIT INDEX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Exhibit No.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; padding-right: 0; padding-left: 0"></TD><TD STYLE="width: 1in; padding-right: 0; padding-left: 0">14.1</TD><TD STYLE="text-align: justify; padding-right: 0; padding-left: 0">Amended and Restated Supplemental Code of Business Ethics and Conduct for Directors and Officers</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; padding-right: 0; padding-left: 0"></TD><TD STYLE="width: 1in; padding-right: 0; padding-left: 0">14.2</TD><TD STYLE="text-align: justify; padding-right: 0; padding-left: 0">Code of Ethics Applicable to Senior Executives</TD></TR></TABLE>



<P STYLE="margin: 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v307009_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 18268}]
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
DATE OF REPORT (Date of Earliest Event Reported):
March 22, 2012
FRANKLIN FINANCIAL SERVICES CORPORATION
(Exact name of registrant as specified in
its charter)
PENNSYLVANIA
(State or other jurisdiction of incorporation)
0-12126
25-1440803
(Commission file number)
(IRS employer ID)
20 South Main Street, Chambersburg, Pennsylvania
17201
(Address of principal executive office)
(Zip Code)
Registrant's telephone number, including
area code – (717) 264-6116
N/A
(Former name, address and fiscal year, if
changed since last report.)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ]	Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]	Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]	Pre-commencement communications
pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.05.	Amendments to the Registrant's
Code of Ethics, or Waiver of a Provision of the Code of Ethics.
On March 22, 2012,
the Board of Directors of Franklin Financial Services Corporation (the "Corporation") adopted an amended and restated
Supplemental Code of Business Ethics and Conduct for Directors and Officers (the "Supplemental Code") and a Code of
Ethics Applicable to Senior Executives (the "Senior Executives Code").
The Supplemental
Code supplements the Corporation's Code of Business Ethics and Conduct applicable to all employees, officers and directors
of the Corporation by providing for annual disclosures by executive officers and directors of related interests of such persons
that could present a conflict of interest for such persons if the Corporation would do business with a related interest. The amendments
to the Supplemental Code adopted by the Board of Directors are intended to clarify the related interests that executive officers
and directors are intended to disclose.
The Senior Executives
Code also supplements the Code of Business Ethics and Conduct applicable to all employees, officers and directors by requiring
the chief executive officer, chief financial officer, principal accounting officer, controller or other positions performing similar
functions to assure full, fair, accurate, timely and understandable disclosure in reports and documents the Corporation files with
or submits to the Securities and Exchange Commission, as required by the Sarbanes-Oxley Act, and in all other regulatory filings
and communications with the Corporation's stockholders or the general public. The Senior Executives Code breaks out as to
such officers and with more specificity the general policy with respect to such matters applicable to all employees, officers and
directors set forth in the Code of Business Ethics and Conduct.
The Supplemental
Code and the Senior Executives Code are attached to this report as Exhibits 14.1 and 14.2.
Item 9.01 Financial
Statements and Exhibits.
(c)
Exhibits
. The following exhibits are filed herewith:
Number
Description
14.1
Amended and Restated Supplemental Code of Business Ethics and Conduct for Directors and Officers.
14.2
Code of Ethics Applicable to Senior Executives
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
Date: March 23, 2012
/s/ William E. Snell, Jr.
William E. Snell, Jr., President and Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
14.1
Amended and Restated Supplemental Code of Business Ethics and Conduct for Directors and Officers
14.2
Code of Ethics Applicable to Senior Executives