October 2011 E-News Bulletin

Dear Friends,
I want to share with you some thoughts about two recent Franklin Synergy Bank news items: (1) debit card fees, and (2) Small Business Lending Fund capital.
Recent media attention has focused on several large banks that are initiating debit card fees. These fees are intended to offset legislative actions and poor bank earnings.
Franklin Synergy is not following the lead of these banks. We will not enact debit card fees or begin levying new fees or increasing other checking account fees. Debit cards are a convenience for our customers. We have encouraged our customers to use their debit cards; it would be inappropriate to begin charging customers for their use.
Franklin Synergy has always been focused on bringing value and convenience to our customers. Pricing of bank services is a key part of this commitment. Please share with your friends who bank with some of the banks now levying debit card fees, that they are welcome to come try Franklin Synergy Bank. We’ll treat them right.
On the second news item, Franklin Financial Network, the parent company of Franklin Synergy Bank, received $10 million in Small Business Lending Fund (SBLF) capital last week. Enacted into law as part of the Small Business Jobs Act of 2010, the SBLF is a $30 billion fund that encourages lending to small businesses by providing capital to the nation’s strongest community banks. The SBLF is administered by the U.S. Department of the Treasury.
Then new capital is important to FSB for two reasons: (1) it provides capital to the bank to support growth in loans to small businesses in Williamson County and (2) it is another public statement as to the strength and vitality of our bank.
Small business is the backbone of our local and national economy. More than 1200 new business licenses were filed in Williamson County last year and 21% of our local workforce is classified as entrepreneurs. As the county’s lead community bank, Franklin Synergy can be even more vigorous in identifying successful small businesses and working with them to fund growth and expansion. This is a fundamental step in the recovery of our economy.
Not every bank was allowed to participate in the Small Business Lending Fund. Of the original $30 billion set aside for this program, only $4.0 billion was actually invested in community banks. All together, just 332 banks out of more than 900 applicants were approved for the program.
FSB continues to grow and build a solid foundation for the future. We could not do this without the loyal support of our neighbors, our community, and our friends. Thank you for supporting Franklin Synergy.
Richard Herrington

No Debit Card Fees...

Interested in growing your business? An SBA Loan may be the right business banking product for you!
Franklin Synergy Bank is proud to offer our business customers some of the most beneficial banking products in middle Tennessee, including loans backed by the U.S. Small Business Administration (SBA).
SBA loans may be utilized for:
  • Commercial real estate acquisition
  • Equipment
  • Short and long-term working capital
  • Business Acquisitions
  • Franchise Financing
  • Debt Refinance for any of the above uses
The vast majority of small businesses are eligible for SBA financing and loans of up to $13,750,000. SBA loans carry both fixed and floating long-term rates that are below market interest rates.
Did you know that SBA guaranteed loans:
  • Require low equity contribution requirements (as low as 10%) which preserves precious working capital in your business
  • Have longer amortizations than conventional financing to minimize monthly payments for a growing business
  • Are fully amortized and do not balloon every 1-5 years, reducing the cost, inconvenience and uncertainty of continuous refinancing
  • Provide a fixed rate option for owner occupied commercial real estate as long as 20-25 years
Franklin Synergy Bank has experienced bankers who will analyze the specific needs of your growing business and recommend the right SBA loan product. Our bankers will make the SBA process efficient and easy.
For more information on any of our SBA loan products or to schedule an appointment for a free, no-obligation analysis of which SBA product would be right for you, contact:
Jerry Woods
Senior Vice President
Franklin Synergy Bank

Franklin Synergy Bank Team News
Certified Financial Planner Dan DuBois Joins new Investment Management Division of Franklin Synergy Bank 

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