Franklin Synergy Bank Reports Fourth Quarter 2009 Results

Franklin, TN - January 28, 2010 - Franklin Synergy Bank today reported a strong fourth quarter, capping off its second full year of operation and fourth straight quarter of profits. For the quarter ended December 31, 2009, the bank earned a profit of $116 thousand.

The $116 thousand profit for the fourth quarter 2009 compares to a profit of $4 thousand in the third quarter 2009 and a $543 thousand loss for the fourth quarter 2008. On a year-to-date basis, 2009 profit was $482 thousand vs. a loss of $1.8 million in 2008.

“It is unusual for a new bank to reach profitability within its second full year of operations even in prosperous times,” said Richard Herrington, president of Franklin Synergy Bank. “We accomplished this in very difficult economic times. The relative strength of the local economy, especially the real estate market, and the support of the local community provided our bank with the environment to create this success.”

Franklin Synergy Bank continued to experience significant growth. At year-end, assets totaled $271.7 million, as compared to $193 million at December 31, 2008, a growth rate of 40.6%. Loans totaled $167.5 million at year end, an annual growth rate of 84.5%. Likewise, deposits increased to $228.0 million, an annual growth rate of 55.5%.

“As the economy begins to show more positive trends, Franklin Synergy is poised for even greater growth and profitability,” added Herrington. “We remain optimistic about our long-term prospects. We plan to move into our new corporate headquarters in Downtown Franklin in 2010. Our capital position remains strong and we have avoided many of the problems that have beset the banking system.”

Franklin Synergy Bank opened its first office in November 2007 in Cool Springs and earned its first profit in the first quarter of 2009. The bank reached $100 million in deposits in October 2008, the same month Franklin Synergy opened an office in the Bennett House in downtown Franklin. An office and headquarter operation currently under construction on Columbia Avenue in Franklin, opens in second quarter 2010. In addition, Franklin Synergy operates a mortgage office in Synergy Business Park in Brentwood. Additional information on the bank is available at the bank’s website: www.franklinsynergybank.com.