FRANKLIN, TN – Franklin Financial Network Inc. (NYSE:FSB) will join the Russell 2000 Index at the conclusion of the Russell indexes annual reconstitution Friday, according to a preliminary list of additions posted June 12 on www.russell.com/indexes.
“We are pleased that Franklin Financial Network has been added as a member of the nationally recognized Russell 2000-3000 Indices. This is an indication of our company’s sustained growth and will enhance our visibility within the investment community,” said Richard Herrington, chairman, Franklin Financial Network.
Franklin Financial Network is the parent company of Franklin Synergy Bank, which acquired MidSouth Bank last summer.
Membership in the Russell 2000 Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes, the regional bank said in a press release.
FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
About $5.7 trillion in assets are benchmarked to the Russell’s U.S. indexes. Russell Indexes are part of FTSE Russell, a leading global index provider.
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