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Franklin National Scores Three First Place Finishes in Annual Deposit
Competition
FRANKLIN, Tenn., Dec. 9 /PRNewswire-FirstCall/ -- The annual Federal Deposit
Insurance Corporation (FDIC) market share scorecard for June 30, 2003 is in and
Franklin National Bank came in first among all banks in Franklin, Fairview and
Williamson County, Tennessee. Franklin National also claims the third largest
market share in Spring Hill and Brentwood, Tennessee. Franklin National Bank is
a wholly owned subsidiary of Franklin Financial Corporation.
"We believe the deposit share rankings are further confirmation we're providing
the level of service and types of services our customers want and expect," said
Gordon E. Inman, Chairman, President & CEO of Franklin Financial Corporation.
"We are most grateful for the loyalty of our customers and the dedication of our
employees. Thank you, Williamson, Davidson and Maury Counties, for giving us the
greatest customers and team members anywhere."
Each year, the FDIC evaluates the relative market share of insured banks in each
city, county and Metropolitan Statistical Area (MSA) in the country. Fifteen
banks compete for the Franklin, Tennessee market. Franklin National maintained
its first place position in the city of Franklin for the fifth year in a row.
The Brentwood rankings saw Franklin National jump from fourth place to third. In
that market, deposits grew from $126 million to $181 million for a 44% increase
over the twelve-month period ended June 30, 2003.
In Williamson County, nineteen banks compete for market share. Once again,
Franklin National finished in first place with a $100 million increase in
deposits countywide over the twelve-month period ended June 30, 2003. Deposits
in Fairview grew more than 34%. That resulted in an increase in market share
from 44.52% to 52.78% over the same period.
"Fairview is a relatively new market for Franklin National," commented Inman.
"Our manager, Tom Randolph, assistant manager, John Blade, and entire staff can
take great pride in their accomplishments over the last twelve months. To grow
from a small office to the largest bank in town is a tremendous achievement. My
congratulations and appreciation go out to all our Fairview customers and staff
members."
Within the Nashville market, Franklin National is the largest locally- owned
FDIC-insured institution. Franklin National maintained their eighth position in
the Nashville MSA with increases in both deposits and market share.
Franklin Financial Corporation is a financial services holding company and the
parent company of Franklin National Bank, Franklin Financial Mortgage and
Franklin Financial Securities. The common stock of Franklin Financial
Corporation is listed on the Nasdaq National Market under the symbol "FNFN". The
corporate website is located on the Internet at fnfn.net. Franklin National Bank
operates nine retail branches in Williamson, Davidson, and Maury counties and
can be found on the Internet at FranklinNetBranch.com.
On July 24, 2002, Fifth Third Bancorp (NASDAQ:FITB-News) and Franklin Financial
Corporation announced the signing of a definitive agreement in which Fifth Third
will acquire Franklin Financial Corporation and its subsidiary, Franklin
National Bank, headquartered in Franklin, Tennessee. On March 27, 2003, the
definitive agreement was amended to extend the termination date to June 30, 2004
and to revise the exchange ratio.
THE STATEMENTS CONTAINED IN THIS RELEASE WHICH ARE NOT HISTORICAL FACTS ARE
FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS
DESCRIBING FRANKLIN FINANCIAL CORPORATION'S FUTURE PLANS, PROJECTIONS,
STRATEGIES AND EXPECTATIONS, ARE BASED ON ASSUMPTIONS AND INVOLVE A NUMBER OF
RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND FRANKLIN FINANCIAL
CORPORATION'S CONTROL. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE
PROJECTED DUE TO CHANGES IN INTEREST RATES, COMPETITION IN THE INDUSTRY, CHANGES
IN LOCAL AND NATIONAL ECONOMIC CONDITIONS AND VARIOUS OTHER FACTORS. ADDITIONAL
INFORMATION CONCERNING SUCH FACTORS, WHICH COULD AFFECT FRANKLIN FINANCIAL
CORPORATION, IS CONTAINED IN FRANKLIN FINANCIAL CORPORATION'S FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION.
DATASOURCE: Franklin Financial Corporation
CONTACT: Kristy Williams, +1-615-595-5531, or David McCurrach,
+1-615-595-5531, both of Franklin Financial Corporation
Web site: http://www.fnfn.net/
http://www.franklinnetbranch.com/