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Snell to leave F&M Trust at the end of the year

William Snell Jr., has set a date for his official retirement from F&M Trust, the Chambersburg-based bank he has led as CEO for two decades.

Snell plans to step away completey at the end of 2016.

The bank already announced in December that banking veteran Timothy Henry would take over for Snell, but hadn’t finalized a date for Snell’s retirement.

Henry took over as the president of the bank on Feb. 1. Snell retained the CEO title at that time.

On Tuesday, during its annual shareholder meeting, Snell said Henry will become CEO on July 1. Snell will stay on as a paid consultant until the end of the year.

Snell said he went to the Franklin Financial board of directors in April 2015 to let them know about his plans for retirement, setting off an eight-month search that culminated in Henry’s selection.

“We were deliberate, and that was on purpose,” Snell said. “We had to find the right fit.”

Henry said having Snell stay through the end of the year in an official capacity is a benefit to both him and the bank, especially through this fall as the bank sets a budget for 2017.

“I’ll be able to call him anytime,” he said.

Snell had been president at F&M Trust and Franklin Financial since 1995. He has been CEO of both since 1996.

Michael Sadowski

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