Franklin Financial Network (FSB) will start paying a quarterly dividend of 4 cents per share in 2019.

The first ever dividend is payable on February 28, 2019, to shareholders of record as of February 15, 2019. An annualized dividend rate of 16 cents yields 0.5% at a stock price of $32.39.

Richard Herrington, Chairman, President, and Chief Executive Officer, commented, "We are pleased with the Board's decision to initiate a dividend program and with its authorization of a stock repurchase program, reflecting our confidence in the Company's sound foundation, as well as our outlook for continued growth and focus on driving long-term shareholder value. Our strategic capital priorities remain organic growth and maintaining flexibility to fund potential acquisitions. The repurchase program will be balanced with these objectives to maximize earnings per share accretion while minimizing tangible book value dilution. This is an important tool enabling us to optimize shareholder value."

Franklin Financial Network, Inc. is a financial holding company headquartered in Franklin, Tennessee. The Company's wholly owned bank subsidiary, Franklin Synergy Bank, a Tennessee-chartered commercial bank founded in November 2007 and a member of the Federal Reserve System, provides banking and related financial services with a focus on service to small businesses, corporate entities, local governments and individuals. FSB operates branches and a loan production office in the growing Williamson, Rutherford and Davidson Counties, all within the Nashville metropolitan statistical area.