Franklin Financial Network, Inc. Names Dr. Anil Patel to the Board
April 06, 2018 at 01:46 am IST
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On April 1, 2018, the board of directors of Franklin Financial Network, Inc. appointed Dr. Anil Patel to the Board for a term expiring at the Company's 2018 annual meeting of shareholders. Dr. Patel has not yet been appointed to any Board committees. Dr. Patel has been providing gastroenterology services to his patients at his endoscopy center in Clarksville, Tennessee since 1993. Dr. Patel has also been involved with the construction of several Marriott hotels and retirement communities in the Middle Tennessee area, and in 2005, he helped organize Civic Bank & Trust. He served as Chairman of the board of directors of Civic since Civic's organization until its merger with and into Franklin Synergy Bank, a wholly owned subsidiary of the Company (the Bank), effective April 1, 2018. Dr. Patel was elected to the board of directors of the Company and the Bank pursuant to the requirements of the Agreement and Plan of Reorganization and Bank Merger dated December 14, 2015, by and among the Bank, Civic, and the Company, as amended by Amendment No. 1, dated May 9, 2016, Amendment No. 2, dated March 30, 2017, and Amendment No. 3, dated September 29, 2017 (the Merger Agreement).
Franklin Financial Network, Inc. is a financial holding company. Through its bank subsidiary, Franklin Synergy Bank (the Bank), a commercial bank, the Company provides a range of banking and related financial services. The Company focuses on the provision of services to small businesses, corporate entities, local governments and individuals. As of December 31, 2016, the Company operated through 12 branches in Williamson and Rutherford counties and a loan production office within the Nashville metropolitan area. The Company's loan portfolio consists of real estate loans, including construction and land development loans, commercial loans and residential loans; commercial and industrial, and consumer and other loans. The Company's investment securities portfolio consists of both securities classified as available-for-sale and securities classified as held-to-maturity. The Company's primary sources of funds include deposits.