March 2009 E-News Bulletin

March 2009 E-News Bulletin

Dear Friends,

There is no question that our nation is in the midst of a punishing economic cycle. Much has been said about the causes of this strife, but the key question today is not what caused the problem but when will we rebound from current conditions.

One of the challenging aspects of economics is that it is not an exact science, like math, chemistry, or physics. Rather, economics is a “behavioral” science; the underlying basis of most economic principles is the prediction of human behavior. From a theoretical perspective, economic growth is determined by the interaction of the supply of money and the velocity of money (velocity being defined as the rate at which money changes hands, or to be precise, the speed with which money is borrowed, invested, and spent).

The Federal Reserve Bank has done its part; the supply of money has been pumped up to stimulate the economy. But the velocity of money has slowed dramatically. People are afraid to spend because they fear conditions will worsen and that they will need the money in the future. So we’re hoarding money. Among the contributors to this fear are the 24-hour television “news” commentators and politicians who keep telling us how terrible things are and that they are going to get worse. From a skeptics’ viewpoint, the best tactic for politicians is to create fear, blame conditions on others, and then take the credit when things improve more quickly than anticipated. The problem with this is that fear and its longevity can become a “self fulfilling prophecy”.

It’s all about confidence, and someone needs to step forward and become a voice of reason and re-establish the confidence that has been such an important variable in our economic growth. If we all believed that the recession will end within 12 months and acted upon this belief, there’s a good chance that it would become a self fulfilling prophecy.

As Ben Stein, a CBS news commentator, recently explained, “After all, no one is bombing our cities right now or poisoning our rivers. This whole thing is about confidence. Ninety-two percent of us are still employed. Roughly 90+ percent are not behind on our mortgages. If we can have some confidence, we could get this ball rolling again.”

Let’s turn-off the TV newscasts. Let’s focus on the positives instead of the negatives. Let’s remember the basics that have made our economy so strong in the past. Let’s remember the things that have made our country (and our community) such a great place to live and work. It won’t cure all of our economic ills, but it will put us back on the right track. And it doesn’t cost billions!

Despite all of this economic tribulation, Franklin Synergy Bank has grown remarkably and has become a major force in our local banking market. We owe this to the support of our local communities. Thank you for your patronage.

Richard Herrington

Franklin Synergy Bank is a member of the surcharge-free MoneyPass Network of ATMs

Now you can use your Franklin Synergy Bank Debit MasterCard coast to coast with access to thousands of surcharge free ATMs. Visit to find the MoneyPass ATMs closest to you, wherever you live or travel. MoneyPass ATM locations include bank and credit union branches, convenience stores, grocery stores, restaurants, discount retailers and many more!


Don’t forget to fund your IRA for 2008 – Deadline April 15, 2009

Call your Franklin Synergy Banker today at (615) 236-BANK (2265) to open an IRA.



The Franklin Synergy Travel Club Needs YOU!

Please take a moment and let us know what travel opportunities would be most attractive to you. Take our Travel and Activity Survey. There’s no obligation to take part in any of the destinations and trips listed; we just want to know what interests you. Let us hear from you!

Upcoming Travel...

  • Mystery Trip
    April 16, 2009
    Get ready for a fun-filled day with your Franklin Synergy friends – we guarantee you will enjoy a little history, education, great food and fine fellowship.
    Total cost - $79 (includes transportation, lunch, admissions, fees, taxes and gratuities)
    Final payment due April 2

  • Cumberland County Playhouse Presents

    July 16, 2009
    Re-visit 1962 with Franklin Synergy Bank. The world was a simpler place - Cadillacs had fins, JFK was in the White House and John Glenn was in orbit. Get back to your roots – literally!
    Total cost - $85
    Final payment due June 29

    September 15, 2009 - September 16, 2009
    Gamble on Tunica’s most luxurious Casino and Resort

    Double: $99 - Single: $109
    Final Payment Date: August 28
    Trip Includes:Roundtrip Transportation, Lodging at the Goldstrike Resort, Gratuities to our driver, Buffet Breakfast, Lunch and on the motorcoach - snacks, juice, water and Continental Breakfast.

  • Mediterranean Legacies Cruise
    October 16, 2009 - October 31, 2009
    $500 per person deposit due with reservation - Only a few cabins left
    Venice, Italy - Dubrovnik, Croatia - Athens, Greece - Ephesus, Turkey - Monte Carlo/Nice, France - Naples, Rome, Florence, Pisa, Italy - Barcelona, Spain
    14-night cruise with overnight stays in Venice, Ephesus and Rome
    Dubrovnik, Croatia / Athens, Greece / Monte Carlo/Nice, France
    Final payment due no later than July 9

  • Enjoy the lights & sights of NEW YORK!
    November 29, 2009 – December 2, 2009
    It’s all here – just waiting for you during the Christmas season!

    Two Broadway Shows – Tavern on the Green – Dinner cruise
    Metropolitan Museum of Art - Central Park - Times Square –
    Ellis Island & Statue of Liberty - NBC Studios Tour -
    Rockefeller Plaza - Fifth Avenue

    $500 per person deposit due with reservation
    Final Payment Due: August 15, 2009
    Cost includes round trip airfare, transfers, deluxe hotel accommodations, all admissions, 3 breakfasts and 3 dinners, travel insurance, taxes and gratuities.

You can view all Travel Club information and register for trips through our Travel Club Web Page

For more information about Franklin Synergy Bank Travel Club contact Sandy Green at 615-236-4614 or


Time to Refinance? Don’t miss some of the lowest mortgage rates in decades!

Call your Franklin Synergy Banker at (615) 564-6400 or (615) 236-2265 to discover how we can help you lower your mortgage payment! Or visit us in the Synergy Park in Brentwood – 7101 Executive Center Drive, Suite 110


Keep Your Identity Safe with Franklin Synergy Bank’s NEW ID Theft Protection Plan…….

According to the Federal Trade Commission fraud complaints in 2007, identity theft remains the top complaint.

  • Losses associated with identity theft amounted to $45.3 billion in 2007
  • 8.1 million adult Americans, or one in 28, were victimized by identity theft in 2007
  • Each victim lost an average of about $5,500
  • Consumers spend an average of 40 hours to repair damage

Identity theft refers to crimes in which fraudsters wrongfully obtain and use another person's personal data (i.e. name, date of birth, social security number, driver's license number), and your financial identity (i.e. credit card, bank account and phone-card numbers). The Federal Trade Commission indicates that on average, most victims do not even know their identity has been stolen until more than a year later.

Identity theft can have devastating consequences for you, as the victim, who may face long hours of closing bad accounts, opening new ones, and repairing your wrecked credit record. And, it may take significant out-of-pocket expenses to clear your good name. In the meantime, you may be denied jobs, loans, education, housing, and cars, or even get arrested for crimes you did not commit. Unfortunately, the experience of thousands of victims is that it often requires months, and even years, to navigate the frustrating, identity-recovery process.

But now, you can protect yourself with Franklin Synergy Bank’s low cost ID Theft Protection Plan. Visit us at to learn more or to enroll in the plan. Call your Franklin Synergy Banker at (615) 236-BANK (2265) if you have any questions.


Franklin Synergy Bank Team News

Ryan Reynolds Named President of Nashville Mortgage Bankers Association

Franklin Synergy Bank Senior Mortgage Consultant Ryan J. Reynolds has been named President of the Nashville Mortgage Bankers Association (NMBA). Ryan joined us in November 2008 and he has been active in mortgage banking for 15 years. The Tennessee Mortgage Bankers Association was organized in 1960. Ryan succeeds Franklin Synergy’s Stephen Lewis as President of the NMBA.

Mortgage banking is an important part of Franklin Synergy Bank’s success. Ryan says he wishes “to continue to promote the professionalism of our peers through increased licensing requirements, ongoing training, and hopefully regain traction in the middle Tennessee home purchase market in 2009.

JMac Dyal Joins Franklin Synergy Bank as Network Administrator

We recently welcomed JMac Dyal to Franklin Synergy Bank as Network Administrator. JMac has more than seven years experience in network administration and he joins Franklin Synergy bank from SunTrust Banks Inc. where he held the position of Client Technology Specialist. Prior to joining SunTrust Bank, JMac was Assistant Network Administrator for Ragan Smith Associates in Nashville. JMac began his banking career as Financial Service Advisor at National Bank of Commerce in Lebanon and is a graduate of Tennessee Technological University in Cookeville, Tennessee.

We look forward to the opportunity to earn your future business at Franklin Synergy Bank. You may reach your Franklin Synergy banker at (615) 236-BANK (2265) or on our website at Franklin Synergy Bank now has 2 locations, our Cool Springs branch at 3301 Aspen Grove Drive, Suite 106 and our Downtown Franklin branch at 134 Fourth Avenue North in the historic Bennett House. In addition, our Franklin Synergy Mortgage office is now open at 7101 Executive Center Drive, Suite 100 in Brentwood. We appreciate your continued interest in Franklin Synergy Bank.


Richard Herrington