FRANKLIN FINANCIAL NETWORK, INC. (NYSE:FSB) Files An 8-K Regulation FD Disclosure
Item 7.01.
On January 23, 2019, the Company issued a press release announcing that its Board of Directors had declared an initial quarterly dividend of $0.04 per share, payable on February 28, 2019, to shareholders of record as of February 15, 2019. The Company also announced that the Board of Directors had authorized the repurchase of up to $30 million of the Company’s common stock, which will remain in effect until January 23, 2020. Under the share repurchase program, the Company may repurchase its common stock from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions and other considerations. The Company’s repurchases may be executed using open market purchases, privately negotiated transactions, accelerated share repurchase programs or other transactions. The Company intends to fund repurchases under the share repurchase program from existing sources of cash. A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
to the rules and regulations of the Securities and Exchange Commission, the information in Item 7.01 disclosures, including Exhibit 99.1, and information set forth therein, is deemed to have been furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit | |
| Number | Description |
| 99.1 | Press Release dated January 23, 2019 |
Franklin Financial Network Inc. Exhibit
EX-99.1 2 tv511451_ex99-1.htm EXHIBIT 99.1 Franklin Financial Network Announces New Capital Allocation Initiatives,…
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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.