Franklin Financial Network in Franklin, Tenn., has filed plans to raise up to $62 million in a common stock offering.
The $2.7 billion-asset parent of Franklin Synergy Bank has priced a sale of about 1.9 million shares at $32 each, according to a Wednesday news release.
Franklin plans to use the proceeds for organic growth, augmenting its capital position, reducing its concentrate of real estate loans and for general corporate purposes, including an investment in its corporate infrastructure required for "a rapidly growing public company," according to the release.
Raymond James is lead financial adviser to Franklin on the offering. Baker, Donelson, Bearman, Caldwell & Berkowitz is legal counsel.
