Three of the four Nashville-area banks taking part in the U.S. Treasury Small Business Lending Fund continued to post strong growth numbers in the fourth quarter, according to a report issued by the agency last week. Avenue Bank's small-biz book grew almost 12 percent during the quarter to $129 million, while InsBank's portfolio grew by more than 25 percent to $49 million. Growing a bit more slowly was Franklin Synergy Bank, which added 8 percent to $31.5 million. The lenders at Sumner Bank & Trust, meanwhile, were in a holding pattern at about $30.5 million. (Click here for Q3 numbers.)
Nationally, SBLF banks have lent almost $9 billion to companies since the program launched in late 2010. Institutions in the Southeast have been particularly active.
Franklin Synergy Bank has hired Chad Randall to boost its business lending efforts. Randall, who joins five-year-old Franklin Synergy as a vice president, was most recently at Reliant Bank and also has worked at Community First Bank & Trust and First Citizens Bank in Williamson County. He'll be based in Cool Springs.
The year 2012 will go down in Franklin Synergy Bank's books as a very good one. In February, the community bank reported its assets had topped $500 million. Since then, it has reported record profits, opened an office in Westhaven and recruited some top talent. Now, right before the end of the year, it also is able to say that its deposits now also total more than half a billion.
POSTDATA: WARRANTY DEEDS