The acquisition of financial holding company Franklin Financial Network (FSB) by FB Financial Corp (FBK) has been completed, ending the stock market listing of Franklin Financial.

Franklin shareholders will receive 0.9650 shares of FB Financial common stock and $2.00 in cash for each share of Franklin stock. Based on FB Financial’s closing price of $38.80 per share as of January 17, 2020, the implied transaction value is approximately $611 million in the aggregate or $39.44 per share.

Franklin Financial Network last hiked its quarterly dividend by 50.0 percent to $0.06 per share in 2019. This was the first dividend hike since the company initiated a dividend earlier in 2019. Prior to the merger Franklin Financial paid an estimated $4 million in dividends to shareholders annually. The company's stock price ended the year 2019 with a 30.5 percent gain.

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 a full range of banking and related financial services with a focus on service to small businesses, corporate entities, local governments and individuals. The Bank operates through branches inWilliamson, Rutherford and Davidson Counties, all within the Nashville metropolitan statistical area. Franklin Financial was acquired in 2020 by FB Financial.