FSB - Franklin Financial's Restructuring Work Pays Off With A Good Buyout Offer
In doing some prep work ahead of earnings, I’d flagged Franklin Financial Network (FSB) as a name to cover given what I thought would be an increasing likelihood of a buyout as management cleaned up and repositioned the balance sheet. Turns out that was the right assumption, as Franklin Financial announced in conjunction with fourth quarter earnings that it had accepted a buyout offer from FB Financial (FBK), a fellow Tennessee-based bank company.
I think Franklin Financial shareholders are getting a pretty good deal here. Even though FB Financial shares have