CEO Today USA Awards

www.ceotodaymagazine.com 104 CEO Today USAAwards 2018 TENNESSEE RICHARD HERRINGTON Chairman & CEO of Franklin Synergy Bank ABOUT RICHARD HERRINGTON Mr. Herrington is a veteran Williamson County banker with 40 years of banking experience. He serves as Chairman and CEO of Franklin Synergy Bank. He began his Tennessee banking career with First American Bank, then later served as a bank consultant with Price Waterhouse. In addition he established a community bank data processing and consulting firm. In 1989, Mr. Herrington co-founded Franklin Financial Corporation (Franklin National Bank) where he served as President and CEO until 2002. Recruited by the Board of Civitas Bank Group (then Cumberland Bancorp), Mr. Herrington became the President and CEO of the holding company, charged with engineering a turn-around of the troubled banking organization. In accomplishing this, he assembled a five-member executive management team that executed a successful four-year remediation plan. Mr. Herrington holds a B.A. in Economics from Newberry College in Newberry, South Carolina and a M.A. in Economics Florida State University. Herrington serves on the Board of Directors at Williamson Medical Center Foundation, and the Board of Directors of Leadership Franklin. He also serves on the Board of Directors of Williamson County Chamber of Commerce. Past Board service includes Battle Ground Academy, Columbia State Community Foundation, Franklin Tomorrow and Franklin First United Methodist Foundation. www.franklinsynergybank.com FIRM PROFILE Franklin Financial Network, Inc. operates as the bank holding company for Franklin Synergy Bank that provides various banking and financial services to individual clients, and small and commercial businesses. The company’s deposit products include demand, savings, checking, and NOW deposit accounts, as well as certificates of deposit and money market deposit accounts. It also offers commercial and residential construction, commercial, and installment loans; lines secured by home equity; and mortgage loans. Founded in November 2007 by a group of veteran Williamson County, Tennessee bankers, Franklin Synergy Bank earned its first profit in early 2009, after just five quarters of operation. Franklin Financial Network, Inc., (FFN) the parent company of Franklin Synergy Bank, was also founded in 2007. The bank’s mission is to build a legacy company by creating shareholder value, cultivating strong customer relationships, and fostering an extraordinary team of directors, officer and employees. A Board of Directors comprised of local business owners with deep roots in Middle Tennessee guides the bank and serves as ambassadors in the community. In addition to a local Board of Directors and veteran leadership, our bank was founded by local investors who wanted to support a community bank led by their family, friends and neighbors. Franklin Synergy Bank, through Franklin Financial Network, Inc., has successfully raised capital four times since 2007, including $26.3 million in initial capital. In addition, in 2011, FFN was awarded $10 million in capital by the U.S. Department of the Treasury through the Small Business Lending Fund (SBLF). Only well-run, well capitalized banks were eligible to receive this funding, targeted to increase lending to small businesses. Since 2007, Franklin Synergy has opened six branches in Williamson County, as well as a downtown Franklin headquarters in 2010. In 2014, Franklin Synergy acquired MidSouth Bank, a five branch community bank in Rutherford County, founded in 2004. Franklin Synergy Bank also retained the MidSouth Wealth Management team. The acquisition united two strong community banks, while selectively expanding Franklin Synergy’s geographic footprint in contiguous markets with long-term growth potential. The bank’s mission is to build a legacy company by creating shareholder value, cultivating strong customer relationships, and fostering an extraordinary team of directors, officer and employees.