content: 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 6, 1997   
                                             
                                  
                                  
                   FRANKLIN FINANCIAL SERVICES CORPORATION          
       (Exact name of registrant as specified in its charter)
                                  
   Pennsylvania                0-12126               23-144083 
  (State or other jurisdiction    (Commission            (IRS Employer
   of incorporation)             File Number)        Ident. No.)
                                  
                                  
  20 South Main Street, Chambersburg,PA                17201        
  (Address of principal executive office)           (Zip Code)
                                  
                                  
  Registrant's telephone number, including area code    (717) 264-6116    
                  
                                 N/A                                
   (Former name or former address, if changes since last report)
                                  
                                  
                                  
                                  <PAGE>
  Item 5.      Other Events.
  
       The press release of Franklin Financial Services Corporation
  dated March 6, 1997 and attached hereto as Exhibit 99,  which
  relates to the authorization to repurchase up to 100,000 shares
  of common stock in open market or privately negotiated
  transactions, is incorporated by reference herein.
  
  Item 7.      Financial Statements and Exhibits.
  
              (c)    Exhibits
  
       The following exhibits are filed herewith:
  
       Number              Description              Page Number
  
         99           Press Release, dated March 6,      3
                      1997, of Franklin Financial
                      Services Corporation
  
  
                           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:                                     
                               William E. Snell, Jr., President and
                                 Chief Executive Officer
  
  
  
  Dated: March 6, 1997
  
      
                            EXHIBIT 99
  
  News Release - March 6, 1997
  Franklin Financial Services Corporation
  Kenneth C. Ditzler (717) 261-3665
                                  
                                  
                                  
                                  
      Franklin Financial announces stock repurchase program                       
            
       Franklin Financial Services Corporation, the parent
  company of F&M Trust Company, today announced that its
  board of directors has authorized the repurchase of up
  to 100,000 shares of its common stock.
  
       The board has authorized the repurchase of shares
  of its $1.00 par value common stock, representing
  approximately 5.3% of such shares now issued and
  outstanding.  The repurchases are authorized to be made
  from time to time during the next 12 months in open
  market or privately negotiated transactions.
  
       Franklin Financial has repurchased approximately
  96,000 shares of its common stock since March 1996. 
  According to president and chief executive officer,
  William E. Snell, Jr., the repurchased shares will be
  held as treasury shares available for issuance in
  connection with future stock dividends and stock
  splits, employee benefit plans, executive compensation
  plans, and for issuance under the Dividend Reinvestment
  Plan and other corporate purposes.
  
       Franklin Financial is the largest locally owned and
  operated bank holding company in Franklin County with
  assets of $336 million.  Its wholly-owned subsidiary,
  F&M Trust Company, has twelve banking offices located
  in Boiling Springs, Chambersburg, Mont Alto, Marion,
  Newville, Shippensburg and Waynesboro.
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 4395}]
metadata_filer: {"company-data": {"conformed-name": "FRANKLIN FINANCIAL SERVICES CORP /PA/", "cik": "0000723646", "assigned-sic": "6022", "irs-number": "251440803", "state-of-incorporation": "PA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-12126", "film-number": "97555389"}, "business-address": {"street1": "P O BOX T", "city": "CHAMBERSBURG", "state": "PA", "zip": "17201-0819", "phone": "7172646116"}, "mail-address": {"street1": "P O BOX T", "city": "CHAMBERSBURG", "state": "PA", "zip": "17201"}}
text: 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 6, 1997   
                                             
                                  
                                  
                   FRANKLIN FINANCIAL SERVICES CORPORATION          
       (Exact name of registrant as specified in its charter)
                                  
   Pennsylvania                0-12126               23-144083 
  (State or other jurisdiction    (Commission            (IRS Employer
   of incorporation)             File Number)        Ident. No.)
                                  
                                  
  20 South Main Street, Chambersburg,PA                17201        
  (Address of principal executive office)           (Zip Code)
                                  
                                  
  Registrant's telephone number, including area code    (717) 264-6116    
                  
                                 N/A                                
   (Former name or former address, if changes since last report)
  Item 5.      Other Events.
  
       The press release of Franklin Financial Services Corporation
  dated March 6, 1997 and attached hereto as Exhibit 99,  which
  relates to the authorization to repurchase up to 100,000 shares
  of common stock in open market or privately negotiated
  transactions, is incorporated by reference herein.
  
  Item 7.      Financial Statements and Exhibits.
  
              (c)    Exhibits
  
       The following exhibits are filed herewith:
  
       Number              Description              Page Number
  
         99           Press Release, dated March 6,      3
                      1997, of Franklin Financial
                      Services Corporation
  
                           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:                                     
                               William E. Snell, Jr., President and
                                 Chief Executive Officer
  
  Dated: March 6, 1997
  
      
                            EXHIBIT 99
  
  News Release - March 6, 1997
  Franklin Financial Services Corporation
  Kenneth C. Ditzler (717) 261-3665
                                  
                                  
                                  
                                  
      Franklin Financial announces stock repurchase program                       
            
       Franklin Financial Services Corporation, the parent
  company of F&M Trust Company, today announced that its
  board of directors has authorized the repurchase of up
  to 100,000 shares of its common stock.
  
       The board has authorized the repurchase of shares
  of its $1.00 par value common stock, representing
  approximately 5.3% of such shares now issued and
  outstanding.  The repurchases are authorized to be made
  from time to time during the next 12 months in open
  market or privately negotiated transactions.
  
       Franklin Financial has repurchased approximately
  96,000 shares of its common stock since March 1996. 
  According to president and chief executive officer,
  William E. Snell, Jr., the repurchased shares will be
  held as treasury shares available for issuance in
  connection with future stock dividends and stock
  splits, employee benefit plans, executive compensation
  plans, and for issuance under the Dividend Reinvestment
  Plan and other corporate purposes.
  
       Franklin Financial is the largest locally owned and
  operated bank holding company in Franklin County with
  assets of $336 million.  Its wholly-owned subsidiary,
  F&M Trust Company, has twelve banking offices located
  in Boiling Springs, Chambersburg, Mont Alto, Marion,
  Newville, Shippensburg and Waynesboro.