Franklin, TN - December 28, 2011 - Franklin Synergy Bank capped its fourth anniversary by crossing the $400 million mark in bank deposits. The bank reached this milestone on December 16.
Franklin Synergy Bank Tops $400 Million in Deposits
“Just a year ago, our bank passed the $300 million mark in deposits. This month brings another wonderful anniversary present for our shareholders, customers and staff,” commented Richard Herrington, president of Franklin Synergy Bank. "This is extraordinary success for a four year old bank. It’s a direct reflection of our wide-spread neighborhood support and the impact our bank is making in the community. We have worked very diligently to create a unique banking environment that makes our customers feel comfortable and confident.”
Franklin Synergy opened its third office in 2010, in what is now a full-service branch in Brentwood.
“When we opened in late 2007, we were the smallest of 187 banks headquartered in Tennessee. As we near the end of 2011, Franklin Synergy has grown to be among the 35 largest banks in Tennessee,” added Herrington. “Our deposit growth has outpaced loan growth. While our loan portfolio continues to grow, we are actively seeking loan opportunities in the community.”
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. A new Downtown Franklin headquarters and branch opened on Columbia Avenue on May 17, 2010 (the Bennett House branch was closed). An office in Brentwood opened in January 2011. In December 2011, the bank reached $400 million in deposits. In addition, Franklin Synergy operates a mortgage office in Synergy Business Park in Brentwood. Franklin Synergy Investment Management, a division of Franklin Synergy Bank, offering financial planning, opened in September 2011. Additional information about Franklin Synergy is available at the bank’s website: www.franklinsynergybank.com.