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Franklin Synergy Bank in Franklin, Tenn., is planning to raise money from institutional investors as a prelude to a public offering.
October 3 -
Community banks that are looking to complete acquisitions are deciding to go public so they have a stronger currency to offer potential sellers. However, recent IPOs have not performed as well as earlier ones.
May 23
Franklin Synergy Bank in Franklin, Tenn., is taking a look at going public.
The bank, which recently crossed $1 billion in assets, will focus on
Franklin Synergy, which had $618 million in assets a year earlier, recently bought MidSouth Bank in Murfreesboro, Tenn.
"We don't see the need to go out and acquire three or four more banks" unless there is another great opportunity, Herrington told the publication. Herrington added that the bank is well-positioned to grow organically.
