Franklin Bank CEO/President, Mark V. Edwards, and the Board of Directors are pleased to announce that on April 18, 2021 the bank will celebrate its 160th year in business.
In late February 1861, as Abraham Lincoln was traveling toward Washington and his appointment with destiny as the new President of the disunited States, a group of thoughtful citizens were forming Salem’s first permanent “Building Association.” On the evening of the day Lincoln was inaugurated, 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 recorded on April 18, 1861.
Franklin’s first full-time business office was obtained by purchasing the three-story Wiley Building at 141 W. Broadway, Salem which was renovated 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.
As time went on the differences between commercial banks and thrifts became insignificant; therefore, in 1988, the institution made its second name change to “Franklin Savings Bank, S.L.A and finally in 2006, the bank became simply “Franklin Bank” to more accurately reflect the broad range of services available to customers. Many product changes have taken place over the years including Franklin’s offering of a wide variety of banking technology.
For 160 years Franklin Bank has been a community partner and leader in customer service, helping individuals and families save money and fulfill their dream of home ownership. Franklin is one of the oldest permanent associations in continuous existence in the nation and has long been highly regarded for its sound financial position. The bank looks back at its record with justifiable pride and pledges to use that distinguished past to help build an even better future for the people in the communities it serves.
For more information about Franklin Bank please call us at 856-769-4400 or visit franklinbnk.com.