August 2007 E-News Bulletin

We have some exciting news and progress to report….

Our Franklin Synergy Bank charter application with the State of Tennessee is in process and we are satisfied, if impatient, with the pace. We expect to have our charter sometime in October.

Construction on our first bank location is underway and we expect our bank at 3301 Aspen Grove Drive in Aspen Grove Village to be ready for us to move in during the fourth quarter.

We completed our capital program quicker than anticipated, raising $26,250,000 in capital for our company. Our target was $25 million, but we exceeded that by 5%, as allowed by the offering. We could have sold more, but at this point we're focusing on building the bank.

Let me introduce our Directors to you. We have six "outside" Directors and I am the seventh. As a team, the group has demonstrated success in such fields as health care, logistics, investment management, insurance, farming, dentistry and banking. Two of our Directors are fifth generation "Franklinites" and all have lived and worked in Middle Tennessee for over thirty years. We are extremely proud of this team.

Hank Brockman is a private investor. Hank was Managing Partner in charge of Institutional Sales and Trading at J. C. Bradford prior to retiring in 2000. From 2002 to 2004, Hank was Manager of Institutional Sales for Morgan Keegan in Memphis, Tennessee. Hank is a graduate of the University of Tennessee and received his Masters from Peabody College of Vanderbilt University.

Bill Harlin, Jr. has more than 50 years of farming and business experience in Franklin and Williamson County. Bill's family has been in Williamson County for generations. Harlinsdale Farm, now owned by the City of Franklin, was owned by the Harlin family. Bill is well-known on the Tennessee Walking Horse circuit, raising and showing them all of his life. Bill attended Vanderbilt University and the US Naval Academy in Annapolis.

Dr. David Kemp opened Kemp Orthodontics in Franklin in 1986 and has owned and operated the business since that time. Dr. Kemp serves on the Advisory Council of 3M Unitek in Monrovia, California, advising on new products and improvements to existing orthodontic products. Dr. Kemp holds a Bachelor of Science from Martin College in Pulaski, Tennessee. Dr. Kemp is a graduate of The University of Tennessee, Center for the Health Sciences, Memphis Tennessee and holds both a Doctor of Dental Science and a Postdoctoral Master of Science in Orthodontics.

Saul Komisar is President of Protherics, Inc., in Brentwood, Tennessee. Protherics is an integrated biopharmaceutical company headquartered in the UK, focused on developing, manufacturing and marketing oncology and critical care products. Saul has responsibility for US Operations, including the commercialization of FDA-approved products. Saul worked in corporate finance with SunTrust Bank (originally Third National Bank) for six years, specializing in the healthcare industry. Saul holds a Masters in business administration from the Owen Graduate School of Management at Vanderbilt University.

Scott McWilliams, Chief Executive Officer of Ozburn-Hessey Logisitics. Scott has more than 25 years of business experience in Tennessee and Florida, including nine years with Kroger Co prior to joining Ozburn-Hessey Logistics in 1990 as Site Manager. Scott was promoted to Vice President of Operations in 1992, President in 1996 and CEO in 2001. Scott holds a B.S. degree from The University of Tennessee.

Paul Pratt, Jr., Vice President of Full Service Insurance, is a life-long resident of Franklin. Paul has 24 years of financial services and business experience. Full Service Insurance is an independent insurance broker in Franklin, Tennessee. Paul is a graduate of Columbia State Community College.

 

Richard Herrington is President and CEO of Franklin Financial Network and Franklin Synergy Bank. Richard is a veteran Williamson County banker with 37 years of banking experience. Richard co-founded Franklin Financial Corporation (Franklin National Bank) in 1989 where he served as President and CEO until 2002. Late in 2002, he was recruited by the Board of Civitas BankGroup (then Cumberland Bancorp) and became the President and CEO of the five-bank holding company, charged with engineering a turn-around of the troubled banking organization. Civitas sold to Green County BankGroup in 2007.

As we move forward with building a locally owned and managed community bank we will keep you updated with our progress. We have a great management team, more on that in the next bulletin. Thank you for your interest in Franklin Synergy Bank (in organization).

Sincerely,

Richard Herrington