Franklin Financial prices IPO at $21, below the range

Franklin Financial Network, a Tennessee commercial bank with 11 branches and $1.4 billion in assets, raised $55 million by offering 2.6 million shares (upsized from 2.4 million) at $21, below the range of $24 to $27. Franklin Financial Network plans to list on the NYSE under the symbol FSB. BofA Merrill Lynch acted as the sole bookrunner on the deal.