Franklin Bank celebrates its 160th anniversary! | Community
Franklin Bank CEO / Chairman Mark V. Edwards and the Board of Directors are pleased to announce that on April 18, 2021, the bank will celebrate its 160th anniversary.
In late February 1861, as Abraham Lincoln traveled to Washington and his appointment with fate as the new President of the Disunited States, a group of thoughtful citizens formed Salem’s first permanent “Building Association”. On the evening of Lincoln’s inauguration day, a certificate of incorporation for the Franklin Loan and Building Association of Salem, New Jersey was drawn up. The date was April 13, 1861, and the certificate of incorporation was registered on April 18, 1861.
Franklin’s first full-time commercial office was secured by purchasing the three-story Wiley Building at 141 W. Broadway, Salem which was remodeled and opened to the public on August 12, 1946. After nearly 100 years of honorable service, the bank changed its name on January 1, 1961 to “The Franklin Savings and Loan Association of Salem, New Jersey” to better reflect the contemporary nature of the organization.
Over time, the differences between commercial banks and thrifts became insignificant; therefore in 1988 the institution changed its name for the second time to “Franklin Savings Bank, SLA” and finally in 2006 the bank became simply “Franklin Bank” to better reflect the wide range of services offered to clients. Many product changes have taken place over the years, including Franklin’s offering of a wide variety of banking technologies.
For 160 years, Franklin Bank has been a community partner and a leader in customer service, helping individuals and families save money and realize their dreams of homeownership. Franklin is one of the oldest permanent associations in the country and has long been known for its good financial standing. The bank looks back on its balance sheet with justified pride and is committed to using this distinguished past to help build an even better future for the people of the communities it serves.
For more information about Franklin Bank, please call us at 856-769-4400 or visit franklinbnk.com.