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Franklin Financial, bank unit CEO retires; interim replacement named

Richard Herrington retired as chairman, president and CEO of Franklin Financial Network Inc., and as chairman and CEO of unit Franklin, Tenn.-based Franklin Synergy Bank, effective March 8.

Kevin Herrington also resigned as executive vice president and COO of the bank on the same date. Both have agreed to remain as nonexecutive employees for six months to assist in the leadership transition.

J. Myers Jones III, executive vice president and chief credit officer of the bank, was named interim CEO of the companies. A search is underway to identify Franklin Financial's next CEO.

In addition, Franklin Synergy Bank President Lee Moss was named Franklin Financial's interim president and James Cross IV was tapped as chairman of the companies. Cross is currently an outside director at the bank.

Franklin Financial also made two management promotions at the banking subsidiary. Terry Howell was appointed interim COO and Eddie Maynard was named executive vice president and chief credit officer, also effective March 8.

Howell currently serves as and will remain Franklin Financial's executive vice president and corporate risk officer, while Maynard most recently served as the bank's assistant chief credit officer.