Franklin, TN - December 23, 2010 - anklin Synergy Bank capped its third anniversary by crossing the $300 million mark in bank deposits. The bank reached this milestone on December 15, exceeding management expectations.
Franklin Synergy Bank Tops $300 Million in Deposits
“This was a wonderful anniversary present for our shareholders, customers and staff,” stated Richard Herrington, president of Franklin Synergy Bank. “We are grateful for the success we have experienced in just three years. Our bankers have worked diligently to create a unique banking environment that makes our customers feel comfortable and confident.”
Franklin Synergy, recently recognized by the Nashville Post as one of the “50 Fastest Growing Companies in Middle Tennessee” is locally owned, putting the bank in an attractive competitive position in Williamson County.
“At a time when some banks are growing deposits by assuming the deposits of failed banks, Franklin Synergy is growing the old fashioned way – by taking care of customers”, added Herrington. “Our organic growth is the result of our commitment to the local community, to lending to credit-worthy customers, and to the support of our shareholders and Directors.”
Franklin Synergy Bank opened its first branch 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 a branch in the Bennett House in downtown Franklin. The bank reached $200 million in deposits in July of 2009 and topped $300 million in December 2010. The Downtown Franklin headquarters and branch opened on Columbia Avenue on May 17, 2010. An office in Brentwood is schedule to open in January 2011. In addition, Franklin Synergy operates a mortgage office in Synergy Business Park in Brentwood. Additional information about Franklin Synergy is available at the bank’s website: www.franklinsynergybank.com.