by , Scott Harrison Nashville Business Journal
Franklin Synergy Bank’s parent company traded flat on their first day on the public markets.
Franklin Financial Network (NYSE: FSB) shares closed at $21 Thursday afternoon, which is exactly where they debuted as part of the bank’s initial public offering. Franklin Synergy sold 2.64 million shares of common stock, putting the deal size at more than $55 million.
The underwriters of the IPO, led by Bank of America Merrill Lynch, have the option to purchase 396,000 additional shares of common stock. Should they exercise that option in full, Franklin Synergy’s IPO totals $63.75 million.
Franklin Synergy Chairman and CEO Richard Herrington
discussed the future steps for the bank with me Thursday, saying the $1.4 billion asset bank is positioned to double in size in the next two to three years.
Offers for you
Support our publication by shopping here
Improve Your Heart Health with All-Natural Soltea Daily Supplement – Click Now to Save 25% Off Your First Order
All-Natural Heart Health Supplement – Save 25% Now
Coding for kids! Introducing programming games for the next generation. Get your kids coding today.
Start with a free trial.
Grow Credit is a free Mastercard you can use to pay your subscriptions while you build credit.
Start building your credit today!
Lower your bills and stay on top of your financial life with Truebil, the app that helps you save every day.
Take control & start saving money!
Acorns helps you grow your money. Take control with all-in-one investment, retirement, checking and more.
Get a $5 bonus when you sign up.
Overcome your credit card debt with Tally. Consolidate and save money while you pay it down.
Get started with Tally today.
Know your spending habits, anticipate overdrafts, and get up to $250. Only takes 2 minutes. No credit check.
Get your finances on track.
The easiest way to compare and save on home and auto insurance. Match coverage, compare rates and save.
Find hundreds in savings now!