Franklin Financial Network (FSB) to Offer $52M in Common Stock

November 15, 2016 4:46 PM EST

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Franklin Financial Network, Inc. (NYSE: FSB), the parent company of Franklin Synergy Bank, today announced that it has commenced an underwritten offering of approximately $52 million of its common stock. The underwriters will have a 30-day option to purchase an additional 15 percent of the offered amount of common stock from the Company to cover over-allotments, if any. Raymond James & Associates, Inc. will serve as active book-running manager, Stephens Inc. will serve as passive book-running manager, Piper Jaffray will serve as lead manager, and Compass Point and FIG Partners will serve as co-managers.

The shares will be issued pursuant to a prospectus supplement filed as a part of a shelf registration statement previously filed with the Securities and Exchange Commission on Form S-3.

The Company intends to use the net proceeds from the offering to support continued organic growth, augment its capital position and reduce real estate concentration ratios and for general corporate purposes, including investment in the corporate infrastructure required for a rapidly growing public company. The Company may also retain an amount of proceeds at the holding company level sufficient to service up to six quarters of interest payments on its outstanding subordinated notes.



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