FRANKLIN FINANCIAL NETWORK, INC. (NYSE:FSB) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On March28, 2018, Franklin Synergy Bank (the “Bank”), a wholly-owned subsidiary of Franklin Financial Network, Inc., and 204 9th Avenue Partners, LLC entered into a Triple Net Office Lease Agreement (the “Lease”). The Lease relates to an annex building for the Bank’s main office and headquarters in downtown Franklin, Tennessee. 204 9th Avenue Partners, LLC is an affiliate of Henry W. Brockman and Dr.DavidH. Kemp, each of whom is a director of the Bank. The Lease has a term of 15 years, which the Bank has the option to renew for two successive five year periods, and provides for monthly rent payments of $28,886 per month for the first year of the term of the Lease, subject to annual adjustment thereafter.
The foregoing summary of the Lease does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Lease, filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 1.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Franklin Financial Network Inc. ExhibitEX-10.1 2 d563231dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 TRIPLE NET OFFICE LEASE AGREEMENT THIS TRIPLE NET OFFICE LEASE AGREEMENT (this Lease) is made and entered into on this 28th day of March,…To view the full exhibit click here
About FRANKLIN FINANCIAL NETWORK, INC. (NYSE:FSB)
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. It operates through approximately 10 branches in Williamson and Rutherford counties 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.