Current Report Filing (8-k)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) December 12, 2014

 

FRANKLIN FINANCIAL CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

Virginia	1-35085	27-4132729
(State or Other Jurisdiction of	(Commission	(IRS Employer
Incorporation)	File Number)	Identification No.)

 

4501 Cox Road, Glen Allen, Virginia 23060

(Address of Principal Executive Offices) (Zip Code)

 

[phone]

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01

Other Events.

 

On December 12, 2014, TowneBank and Franklin Financial Corporation (“Franklin”) issued a joint press release announcing that the Federal Deposit Insurance Corporation and the Virginia State Corporation Commission have approved the regulatory applications filed in connection with TowneBank’s acquisition of Franklin and Franklin’s wholly-owned subsidiary Franklin Federal Savings Bank. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01

Financial Statements and Exhibits.

 

(d)

Exhibits.

 

The following exhibit is filed herewith:

 

Exhibit No.		Description of Exhibit
99.1		Press release issued jointly by TowneBank and Franklin Financial Corporation on December 12, 2014.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	FRANKLIN FINANCIAL CORPORATION
Date:  December 15, 2014	By:	/s/ Richard T. Wheeler, Jr.
		Richard T. Wheeler, Jr.
		Chairman, President and
		Chief Executive Officer

 

 

 

Exhibit 99.1

 

News Release

 

FOR IMMEDIATE RELEASE

For more information contact:

G. Robert Aston, Jr., Chairman and CEO, 757-638-6780 or 757-418-3215

Richard T. Wheeler, Jr., Franklin Financial Corp. Chairman, President and CEO, [phone]

Clyde E. McFarland, Jr., Senior Executive Vice President and CFO, 757-638-6801

William B. Littreal, Chief Investment Relations Officer and COO, 757-638-6813

 

 

TOWNEBANK AND FRANKLIN FINANCIAL CORPORATION RECEIVE REGULATORY APPROVALS FOR MERGER

 

Suffolk, Va. & Richmond, Va. - Hampton Roads-based TowneBank (the “Company”) (NASDAQ: TOWN) and Richmond-based Franklin Financial Corporation (“Franklin”) (NASDAQ: FRNK) today announced that the Federal Deposit Insurance Corporation and the Virginia State Corporation Commission have approved the regulatory applications filed in connection with the Company’s acquisition of Franklin and its wholly-owned subsidiary Franklin Federal Savings Bank. The stockholders of TowneBank and Franklin have approved the transaction at separate stockholder meetings and the acquisition is expected to be completed in early January 2015.

 

About TowneBank:

As one of the top community banks in Virginia and North Carolina, TowneBank operates 28 banking offices serving Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, Virginia Beach, Williamsburg, James City County and York County in Virginia along with Moyock, Grandy, Camden, Southern Shores, Corolla and Kill Devil Hills in North Carolina. Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Insurance Agency, TFA Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Prudential Towne Realty, Towne 1031 Exchange, LLC, and Corolla Classic Vacations. Local decision-making is a hallmark of its hometown banking strategy that is delivered through the leadership of each group’s President and Board of Directors. With total assets of $4.97 billion as of September 30, 2014, TowneBank is one of the largest banks headquartered in Virginia.

 

About Franklin

As one of the largest and oldest community based financial institutions serving Richmond and Central Virginia, Franklin operates eight banking offices and has assets of $1.1 billion. Franklin offers a wide range of retail deposit and investment brokerage services and has been a leader in commercial real estate finance. ###