First Advantage Bank has added to its ranks a senior vice president in the form of Kyle Luther, a veteran business lender who had been at Planters Bank for a dozen years. Luther specializes in commercial real estate and construction lending. Read more about his move here.
Shares of Avenue Financial Holdings, which began trading on the Nasdaq in February, are in line for a bit of a liquidity and visibility boost. They have been added to the ABA Nasdaq Community Bank Index, a composite of about 370 bank and thrift stocks that was launched in 2003. Avenue shares (Ticker: AVNU) ended Monday at $11.90, flat from where they ended their first day of trading. Daily volume averaged about 16,000 shares in May, but on only three trading days — including a monster volume session May 11 — did more than 10,000 shares change hands on a single day.
The board of First Freedom Bank in Lebanon has voted to pay shareholders an annual dividend of 20 cents, up from 15 cents last year and the 10 cents it paid when launching a dividend in 2013. The nine-year-old, $300 million bank led by President and CEO John Lancaster grew its profits by nearly half last year.
Analysts at Compass Point have started covering shares of Franklin Financial Network with a 'buy' rating and price target of $27. That's right in line with their peers at Bank of America Merrill Lynch, who launched coverage three weeks ago. Since going public at $21, Franklin Financial (Ticker: FSB) shares have retreated a little bit, closing Friday at $20.15.
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