Franklin Synergy Bank
By Catherine Royka
Franklin Synergy Bank opened its doors to the public with a strong mission in mind to cultivate relationships with the community and assist customers with their financial goals. Since their founding in November 2007, they have proven to be very successful and reach numerous milestones. When Franklin Synergy Bank first opened, they started off with just twenty employees and was the smallest community bank headquartered in Tennessee out of 177 banks. Today, they are now the fourth largest bank headquartered in the state and are one of the 260 largest banks in the country, with their total assets having grown to $3.5 billion.
“We wanted to start this bank, because we wanted to have a local hometown, homegrown community bank, servicing the needs of our community,” says Richard Herrington, Chairman and CEO of Franklin Synergy Bank.
They provide a full range of banking and financial services with a focus on service to small businesses, corporate entities, local governments and individuals. Headquartered in the heart of historic downtown Franklin, Franklin Synergy operates through twelve branches and one loan production office, servicing clients in Williamson, Davidson and Rutherford Counties.
Richard holds over forty years of banking experience and has learned a couple keys to success in business and to help the growth in the community. “The key to success is having a joint vision of what we are trying to accomplish. Whether its banking or any other type of business, it is all about having the right people, the right talent, the right spirit. We have really good team spirit. I’m constantly amazed at the things our team does together.” Additionally, Richard believes his team boasts a wealth of experience, integrity and enthusiasm.
Just two years ago, Franklin Synergy did something unusual for a bank their size. They went public and are a New York Stock Exchange bank. There are only ninety banks in the world that are New York Stock Exchange traded. “We’ve outgrown the vast majority of banks and our growth rate is faster than most banks in the country,” says Richard. “We are going to continue to grow; growth is important, but it is more about creating something special that helps our community grow.”
Through the years, there are have been three core elements to the bedrock of that growth. The market, the team and the culture their business promotes.
“There is no better market than Williamson, Davidson and Rutherford Counties,” says Richard. “We also have a very unique culture in the banking environment, along with our excellent team. The team is built on integrity, teamwork and understanding mutual goals. Being in the right place, with the right team, has created a culture that is very supportive of what we are trying to do.”
From a banking perspective, Franklin Synergy wants the community to know that although there is continually a lot of growth and they are a large-scale bank, they are still the local, homegrown, hometown bank, dedicated to putting the needs of their customers in the community first.
“We want to be important to our community, as they have been very good to us. This is an opportunity for us to continue to grow. We couldn’t be where we are today without the strong support of our community. We work hard to give back to our community and we want everyone to understand that we are here for them. All of our teammates spend a lot of time in civic and professional organizations to help our community grow. We work hard as individuals and as a team to make our community even better.”
The people “hands down” are what make working and doing business in Williamson County so wonderful according to Richard. “This county is very unique. This is a wealthy community, a progressive community and at the same time, we understand the importance of historic preservation. It’s an honor and a privilege to be a banker here in town. We have so much fun, but we have our challenges too. But when you’re working in a community where people really want to be special and unique, it truly is an honor.”
Although all the positive changes are extremely notable and important, Richard has one key quote that he believes rings most true: ‘the best is yet to come.’ “This has always been one of my themes. I really want us to focus and celebrate where we are today, but think about the future.”
To learn more or to begin banking with Franklin Synergy Bank, visit franklinsynergybank.com.