Jones and CFO Chris Black - ironically, a former FirstBank executive - in October said they were focused on recruiting talent to their firm rather than focus on buying other lenders.Īt the end of 2019 Franklin Synergy had $3.9 billion in assets, while FirstBank had about $6.1 billion in assets.įranklin Synergy has 15 branches in Williamson, Rutherford and Davidson counties. The Franklin Financial board then took until early September to confirm former Chief Credit Officer Myers Jones as the company’s CEO. The news that FB is buying Franklin Financial comes almost a year after Franklin Financial Chairman and CEO Richard Herrington abruptly resigned along with his son, Kevin Herrington, who had been the bank’s COO.
Is Good less than 90% is Fair and over 90% is Poor.According to an investor presentation, the merger would make the combined bank the biggest bank measured by deposits in Williamson County, the second biggest in Rutherford and the sixth biggest bank in Nashville. Particular banks: anything less than 5% is considered Excellent less than 20% is Very Good less than 50% Score, which is based on complaints brought to the Consumer Financial Protection Bureau (CFPB).įinancial Health The Financial Health rating is based on the Texas Ratio, an indicator that Service Quality The Customer Experience rating is a weighted average of the Mobile Rating and National average fee amount for particular services and is also affected by whether or not the bank refunds Rates shown reflect the highest available nationwide.įees The Fees rating is an assessment of the bank's fees measured against the Products measured against the national average interest rate for each product. Rates The Rates rating represents an aggregate of interest rates for specific bank When a component rating is unavailable, the overall rating is calculated as anĪverage of the remaining available ratings.
How We Rated It SmartAsset's Overall Rating Finding a checking account with no monthly fee and a savings account with a high interest rate at the same bank is your best bet for returning the most income on your deposits while maintaining convenient access to your funds. If you're looking for a checking account for everyday use, Franklin Synergy Bank offers an option without a monthly fee. Franklin Synergy Bank has a fair savings rate compared to the average savings account.
#Franklin synergy bank full
On the whole, Franklin Synergy Bank is an outstanding bank that you should strongly consider, with a rating of 4.6 stars out of 5 from our experts.įranklin Synergy Bank offers the full package of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Franklin Synergy Bank lacks premium access to customer service, with no live chat or all-day service options available. Franklin Synergy Bank has $4 billion in assets as well as $3 billion in deposits, ranking it as a large bank. Branch Locations Overviewįranklin Synergy Bank started in 2007 with its headquarters in Franklin, Tennessee.
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