HOUSTON -- Franklin Bank Corp. announced today that, subject to market and otherconditions, it is commencing an underwritten public offering of$100,000,000 of Contingent Convertible Senior Notes due 2027. The noteswill be issued under Franklin's effective shelf registration statementpreviously filed with the Securities and Exchange Commission. Franklinintends to use the net proceeds from the offering to finance a portion ofthe purchase price of The First National Bank of Bryan in Bryan, Texas. Theinterest rate, conversion terms, price, and other terms of the notes willbe determined by negotiations between Franklin and the underwriters. RBCCapital Markets Corporation and Bear, Stearns & Co. Inc. will act as theunderwriters for the offering.
When available, a written prospectus and prospectus supplement meetingthe requirements of Section 10 of the Securities Act of 1933 may beobtained from the following address or telephone number:
RBC Capital Markets Corporation
Attention: Syndicate Desk
One Liberty Plaza
New York, NY 10006
Telephone: 612-371-2818
This press release shall not constitute an offer to sell or asolicitation of an offer to buy nor shall there be any sale of thesesecurities in any state or jurisdiction in which such offer, solicitationor sale would be unlawful prior to registration or qualification under thesecurities laws of any such state or jurisdiction.
Company Overview
Franklin Bank Corp., headquartered in Houston, Texas, was formed inApril 2002 and is now a $5.5 billion company. Franklin's common stockinitiated trading on the NASDAQ in December 2003 under the ticker symbolFBTX. In May 2006, Franklin raised additional capital through a PreferredStock offering that is now trading on the AMEX under the ticker symbolFBK-P. Franklin's community banking philosophy focuses on a high growthcommercial lending approach outside the major metropolitan cities in Texas.
