Franklin, TN - May 22, 2007 - Veteran Franklin banker Richard Herrington announced Monday that he will lead a Franklin bank currently being organized through the Tennessee Department of Financial Institutions. Additional organizers of the bank include Paul M Pratt, Jr. of Full Service Insurance, Saul Komisar of Protherics, Inc., Scott McWilliams of Ozburn-Hessey Logistics, Bill Harlin of Harlinsdale Farms, Hank Brockman, private investor and Dr. David Kemp of Kemp Orthodontics. Organizers expect Franklin Synergy Bank to open during the fourth quarter of 2007 with an expected $25 million in capital raised from local investors. The bank will focus on real estate lending, business banking, government and non-profit banking.
Franklin Banker to Lead Franklin Synergy Bank
Herrington co-founded Franklin National Bank in 1989 and served as served as President and CEO of Franklin Financial Corp., parent company of Franklin National Bank until the bank's sale to Fifth Third Bank. Most recently, Herrington served as CEO of Civitas BankGroup, parent of Cumberland Bank. Herrington successfully took both Franklin National Bank and Cumberland Bank to NASDAQ, listing shares of both companies on NASDAQ's Global Market. Herrington began his banking career with First American Bank in 1977, rising to Senior Vice President before leaving in 1982.
Named to Who's Who in US Commercial & Savings Banking in 1991, Herrington was a member of the first graduating class of Leadership Franklin. A recipient of the Williamson County Chamber Presidential Award, Herrington was also recognized as a top business leader by the Nashville Business Journal through the Williamson 25 Awards.