- Tennessee
Richard E. Herrington, who built Franklin Financial Corp. in Franklin, Tenn., into one of the country’s best-performing community banking companies, is now looking to do the same at Civitas Bank Group Inc., a loosely tied collection of banks that have been struggling to become more efficient.
June 12 -
Fifth Third Bancorp on Friday completed its purchase of Franklin Financial Corp. in Franklin, Tenn.
June 14 -
Four years ago Greene County Bancshares Inc. in Greeneville, Tenn., did not have a single branch in Nashville; upon completing its $164 million deal for Civitas BankGroup Inc., it would have $1.2 billion of assets and the No. 9 deposit share in Tennessee's second-largest metropolitan market.
January 29
Franklin Synergy Bank in Franklin, Tenn., is planning to raise money from institutional investors as a prelude to a public offering.
The $618 million-asset lender is hoping to raise $15 million from institutional investors by the end of the year, according to
The bank expects to go public when it reaches roughly $1 billion in assets, Chief Marketing Officer Aimee Punessen said.
Herrington told The Tennessean he has no plans to sell Franklin Synergy, but may be a buyer.
"When we sold our stock initially, we promised our shareholders to give them a liquidity event other than selling the bank," Herrington told the paper. "We know somewhere down the road people are going to want to have the opportunity to cash in and recognize the increase in value. A way to do that is to be a publicly traded bank."
Franklin Synergy was founded in 2007 and has four branches in the Nashville area.
