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Entegra Financial Corp. Announces First Quarter 2019 Results

Franklin, North Carolina | April 25, 2019

Entegra Financial Corp. (the “Company”) (NASDAQ:ENFC), the holding company for Entegra Bank (the “Bank”), today announced earnings and related data for the three months ended March 31, 2019.

Roger D. Plemens, President and Chief Executive Officer of the Company, reported, “We are pleased with our increase in tangible book value per share which increased from $19.57 at December 31, 2018 to $20.76 at March 31, 2019, an increase of 6%. While our earnings this quarter were heavily impacted by weather delays in our SBA construction portfolio, we expect many of these projects to close in the second and third quarters of 2019. We also were pleased to announce that on March 31, 2019 we entered into a definitive settlement agreement with one of our former advisors pursuant to which the advisor agreed to pay Entegra $1.75 million. We are looking forward to the proposed merger announced on April 24, 2019, and will work diligently with the First Citizens team over the next several months to ensure a successful integration.’

Read the complete earnings release here.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


First Citizens Bank, Entegra Financial Corp. Announce Merger Agreement

RALEIGH, North Carolina and Franklin, North Carolina | April 24, 2019

First-Citizens Bank & Trust Company (First Citizens Bank) and Entegra Financial Corp. (Entegra) announced today the signing of a definitive merger agreement. Entegra provides deposit and loan services through its subsidiary, Entegra Bank.

The agreement provides for the acquisition of Franklin, N.C.-based Entegra Financial Corp. by First Citizens Bank, which is headquartered in Raleigh, N.C. The announcement was made jointly by Frank B. Holding Jr., chairman and chief executive officer of First Citizens Bank, and Roger Plemens, president and chief executive officer of Entegra.

The agreement has been approved by the boards of directors of both companies. The transaction is anticipated to close during the second half of 2019, subject to the receipt of regulatory approvals, the approval of Entegra’s shareholders, and the satisfaction of other customary closing conditions. Under the terms of the agreement, (1) cash consideration of $30.18 per share will be paid to the shareholders of Entegra for each share of its common stock and for each restricted stock unit after conversion to common stock, (2) each Entegra option will be canceled and each option holder will receive a cash payment and (3) no consideration will be paid to First Citizens Bank or its affiliates as a result of their ownership of shares of Entegra’s common stock. As of today, First Citizens Bank and/or its affiliates own approximately 1.56% of Entegra’s outstanding common stock. The total transaction value, including termination fee, is anticipated to be approximately $219.8 million.

On January 15, 2019, Entegra announced it had entered into a definitive agreement to combine with SmartFinancial, Inc. (SmartFinancial) in a strategic merger of equals, in which each share of Entegra common stock would be converted into 1.215 shares of SmartFinancial common stock. Based on the closing price of SmartFinancial’s common stock of $18.40 on January 14, 2019, this implied a transaction value of $22.36 per share, or approximately $158.2 million. Subsequent to that announcement, First Citizens Bank approached Entegra and its advisors with a significantly higher price to acquire the company. Under the terms of its definitive agreement with SmartFinancial, the board of directors of Entegra exercised its right to enter into discussions with First Citizens Bank. Ultimately, the board determined that the cash consideration offer of $30.18 from First Citizens Bank was a superior proposal to the agreement with SmartFinancial, and pursuant to its fiduciary duties and, as permitted under its agreement with SmartFinancial, entered into an agreement with First Citizens Bank. Under the terms of the First Citizens Bank agreement with Entegra, First Citizens Bank will pay a termination fee of $6.4 million to SmartFinancial on behalf of Entegra, which Entegra was obligated to pay under its agreement with SmartFinancial upon the termination of that agreement by Entegra.

As of December 31, 2018, Entegra reported $1.6 billion in consolidated assets, $1.2 billion in deposits and $1.1 billion in loans.

Entegra Bank opened in 1922 and is a state-chartered, full-service commercial bank with 18 offices and two loan production offices throughout Western North Carolina, Upstate South Carolina and North Georgia.

Customers should bank as they normally do at their existing branches, which will become part of First Citizens upon the completion of the merger.

Frank B. Holding Jr., chairman and chief executive officer of First Citizens, said: “First Citizens has a long and proud history in nearly all of these communities. We also share many core attributes with Entegra, including a commitment to service excellence and relationship banking. We look forward to building on the solid foundations both banks have established so that, together, we can better serve even more individuals and business.”

Roger Plemens, president and chief executive officer of Entegra Bank, said: “We are pleased to announce this combination with First Citizens, which shares our customer focus and community banking approach. Not only does this represent a significantly higher price for our shareholders, we also believe that First Citizens’ size and resources will present more opportunities in the future for our customers and communities.”

Sandler O’Neill + Partners, L.P. acted as financial advisor to Entegra in connection with this transaction. Raleigh-based Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP represented First Citizens in the transaction; Hunton Andrews Kurth LLP represented Entegra.

Additional Information

This communication may be deemed to be a solicitation of proxies in respect of the proposed acquisition of Entegra. In connection with the proposed merger, Entegra will prepare and send a proxy statement to each of its shareholders in connection with a meeting of its shareholders at which shareholders will vote on approval of the merger. SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THAT DOCUMENT, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. The definitive proxy statement and a proxy card will be mailed to each shareholder entitled to vote at the special meeting relating to the proposed acquisition. Investors and shareholders may obtain a free copy of the proxy statement when it becomes available, and other documents filed by Entegra, at the website of the Securities and Exchange Commission (SEC), www.sec.gov.

About First Citizens Bank

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank serves customers at more than 550 branches in 19 states. First Citizens Bank is a wholly owned subsidiary of First Citizens BancShares, Inc. (Nasdaq: FCNCA), which has $35 billion in assets as of December 31, 2018. For more information, call toll free 1-888-FC DIRECT (1-888-323-4732) or visit www.firstcitizens.com. First Citizens Bank. Forever First®.

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the holding company of Entegra Bank. Entegra’s common stock trades on the Nasdaq Global Market under the ticker symbol “ENFC.” Entegra Bank operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania; the Upstate South Carolina counties of Anderson, Greenville and Spartanburg; and the North Georgia counties of Pickens and Hall. The bank also operates loan production offices in Asheville, N.C. and Clemson, S.C.

Participants in the Solicitation

Entegra and its directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies from shareholders of Entegra in connection with the proposed acquisition. Information about Entegra’s directors and executive officers may be found in the definitive proxy statement for Entegra’s 2018 annual meeting of shareholders, filed by Entegra with the SEC on April 2, 2018. Additional information regarding the interests of these participants will also be included in the proxy statement regarding the proposed transaction when it becomes available.

Disclosures About Forward Looking Statements:

This Press Release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be forward looking statements. Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” or other statements concerning opinions or judgments of Entegra Financial Corp. and First Citizens Bank and their managements about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those described in the statements. Forward-looking statements in this Press Release include statements regarding Entegra Financial Corp’s and First Citizens Bank’s expectations regarding the benefits of the merger, other statements concerning opinions or judgments of Entegra Financial Corp. and First Citizens Bank and their managements about future events, future financial and operating results and their respective plans, objectives, and intentions, the benefits to First Citizens Bank and Entegra Financial Corp. of the proposed merger, and when the merger will be completed. The accuracy of such forward-looking statements could be affected by factors beyond Entegra Financial Corp.’s and First Citizens Bank’s control, including, but not limited to, the failure to obtain or delays in the receipt of regulatory and shareholder approvals that must be received before the merger may be completed, the failure to obtain or delays in the satisfaction or waiver of other conditions to the consummation of the merger, the risk that the cost savings and any revenue synergies from the proposed merger may not be realized or take longer than anticipated to be realized, disruption from the proposed mergers with customer, supplier, or employee relationships, the occurrence of any event, change, or other circumstances that could give rise to the termination of the merger agreement, the possibility that the amount of the costs, fees, expenses, and charges related to the merger may be greater than anticipated, including as a result of unexpected or unknown factors, events, or liabilities, the risk of potential litigation or regulatory action related to the merger, general competitive, economic, political, and market conditions, and difficulties experienced in the integration of the businesses of Entegra Financial Corp.’s and First Citizens Bank. Additional factors that could cause actual results to differ materially from those anticipated by forward-looking statements will be discussed in Entegra Financial Corp.’s proxy statement for its special meeting of shareholders. Entegra Financial Corp. and First Citizens Bank undertake no obligation to revise or update these statements following the date of this Press Release.

SOURCE: First Citizens Bank; Entegra Financial Corp.
CONTACT: Barbara Thompson, First Citizens Bank, 919-716-2716
David Bright, Entegra Financial Corp., 828-524-7000


Entegra Financial Corp. Announces Fourth Quarter 2018 Results

Franklin, North Carolina | January 24, 2019

Entegra Financial Corp. (the “Company”) (NASDAQ:ENFC), the holding company for Entegra Bank (the “Bank”), today announced earnings and related data for the three and year ended December 31, 2018.

Roger D. Plemens, President and Chief Executive Officer of the Company, reported, “We are pleased with our fourth quarter results showing increases in adjusted net income of 17% and adjusted diluted earnings per share of 15% compared to the fourth quarter of 2017. In addition, our adjusted return on average assets and adjusted return average equity hit new highs of 1.01% and 12.71%, respectively. Although our quarterly results included approximately $0.05 per share of life insurance benefits and expense reversals, we remain optimistic about our future earnings. We are looking forward to the proposed merger of equals announced January 15, 2019, and will work diligently with the Smart Bank team over the next several months to ensure the combination of management and culture will follow our history of successful integrations. ”

Read the complete earnings release here.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


Entegra Financial Corp. Announces Postponement Of Its Fourth Quarter 2018 Financial Results And Conference Call

Franklin, North Carolina | January 16, 2019

Entegra Financial Corp. (“Entegra”) (NASDAQ: ENFC), the holding company for Entegra Bank (“Entegra Bank“), today announced that it will postpone the release of its financial results for the fourth quarter and year ended December 31, 2018, until after the stock market closes on January 24, 2019, in order to complete its review, together with the Audit Committee of Entegra’s Board of Directors, of a possible impairment charge to Entegra’s goodwill.

On January 15, 2019, Entegra and SmartFinancial, Inc. (“SmartFinancial”) announced their entry into an Agreement and Plan of Merger with CT Merger Sub, Inc., a direct, wholly-owned subsidiary of SmartFinancial (“Merger Sub”), pursuant to which, on the terms and subject to the conditions set forth therein, Merger Sub will merge with and into Entegra (the “Merger”), with Entegra surviving the Merger (Entegra as the surviving entity of the Merger, the “Surviving Company”). As soon as reasonably practicable following the Merger and as part of a single integrated transaction, SmartFinancial will cause the Surviving Company to be merged with and into SmartFinancial (the “Second Step Merger”), with SmartFinancial as the surviving entity, on the terms and subject to the conditions set forth in the Merger Agreement. Immediately following the Second Step Merger, Entegra Bank will merge with and into SmartBank, a Tennessee state bank and a wholly-owned subsidiary of SmartFinancial (the “Bank Merger” and, together with the Merger and the Second Step Merger, the “Mergers”).

In connection with the announcement of the Mergers, Entegra may be required to take an impairment charge to goodwill, which (if taken) would reduce shareholder equity and increase charges against income for 2018; Entegra is working to determine if such an impairment charge is required and, if so, the amount.

The Company also will postpone until 8:30 a.m. EDT on Friday, January 25, 2019 the conference call to discuss such financial results and business highlights.

To join the call, dial 800-220-9875 and use the conference number 30134427#. The earnings release and materials related to the conference call will be available within the “Investor Relations” section of the Company’s website.

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the holding company of Entegra Bank. Entegra’s shares of common stock trade on the NASDAQ Global Market under the symbol “ENFC.”

Entegra Bank operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, NC, and Clemson, SC.

Disclosures About Forward Looking Statements:

This Press Release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be forward looking statements. Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” or other statements concerning opinions or judgments of Entegra Financial Corp. and First Citizens Bank and their managements about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those described in the statements. Forward-looking statements in this Press Release include statements regarding Entegra Financial Corp’s and First Citizens Bank’s expectations regarding the benefits of the merger, other statements concerning opinions or judgments of Entegra Financial Corp. and First Citizens Bank and their managements about future events, future financial and operating results and their respective plans, objectives, and intentions, the benefits to First Citizens Bank and Entegra Financial Corp. of the proposed merger, and when the merger will be completed. The accuracy of such forward-looking statements could be affected by factors beyond Entegra Financial Corp.’s and First Citizens Bank’s control, including, but not limited to, the failure to obtain or delays in the receipt of regulatory and shareholder approvals that must be received before the merger may be completed, the failure to obtain or delays in the satisfaction or waiver of other conditions to the consummation of the merger, the risk that the cost savings and any revenue synergies from the proposed merger may not be realized or take longer than anticipated to be realized, disruption from the proposed mergers with customer, supplier, or employee relationships, the occurrence of any event, change, or other circumstances that could give rise to the termination of the merger agreement, the possibility that the amount of the costs, fees, expenses, and charges related to the merger may be greater than anticipated, including as a result of unexpected or unknown factors, events, or liabilities, the risk of potential litigation or regulatory action related to the merger, general competitive, economic, political, and market conditions, and difficulties experienced in the integration of the businesses of Entegra Financial Corp.’s and First Citizens Bank. Additional factors that could cause actual results to differ materially from those anticipated by forward-looking statements will be discussed in Entegra Financial Corp.’s proxy statement for its special meeting of shareholders. Entegra Financial Corp. and First Citizens Bank undertake no obligation to revise or update these statements following the date of this Press Release.

Additional Information About the Proposed Transaction and Where to Find It

Investors and security holders are urged to carefully review and consider each of Entegra’s and SmartFinancial’s public filings with the SEC, including but not limited to their Annual Reports on Form 10-K, their proxy statements, their Current Reports on Form 8-K, and their Quarterly Reports on Form 10-Q.

The documents filed by Entegra with the SEC may be obtained free of charge at Entegra’s Investor Relations website at www.snl.com/IRW/CorporateProfile/4290505 under the heading “SEC Filings. The documents filed by SmartFinancial with the SEC may be obtained free of charge at SmartFinancial’s website at www.SmartFinancialinc.com, under the heading “Investors,” the subheading “Documents,” and the subheading “Regulatory Filings.” The documents filed by each of Entegra and SmartFinancial can also be found at the SEC’s website at www.sec.gov. The Entegra documents may be obtained free of charge from Entegra by requesting them in writing to Entegra Financial Corp., 14 One Center Court, Franklin, North Carolina 28734, or by telephone at 828-524-7000. The SmartFinancial documents may be similarly obtained free of charge from SmartFinancial by requesting them in writing to SmartFinancial, Inc., 5401 Kingston Pike, Suite 600, Knoxville, Tennessee 37919, or by telephone at (865) 453-2650.

Participants in the Solicitation

Entegra, SmartFinancial and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Entegra and SmartFinancial shareholders in connection with the proposed transaction under the rules of the SEC. Information about the directors and executive officers of Entegra may be found in the definitive proxy statement for Entegra’s 2018 annual meeting of shareholders, filed by Entegra with the SEC on April 2, 2018. Information about the directors and executive officers of SmartFinancial may be found in the definitive proxy statement for SmartFinancial’s 2018 annual meeting of shareholders, filed with the SEC by SmartFinancial on April 2, 2018, and other documents subsequently filed by SmartFinancial with the SEC. Additional information regarding the interests of these participants will also be included in the joint proxy statement/prospectus regarding the proposed transaction when it becomes available. Free copies of these documents may be obtained as described in the paragraph above.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


ENTEGRA FINANCIAL CORP. ANNOUNCES DATE FOR FOURTH QUARTER 2018 EARNINGS RELEASE AND CONFERENCE CALL

Franklin, North Carolina | January 4, 2019

Entegra Financial Corp. (the “Company”), (NASDAQ:ENFC), will release its fourth quarter 2018 financial results on Thursday, January 17, 2019, after the stock market closes. The company also will hold a conference call at 8:30 a.m. EDT on Friday, January 18, 2019, to discuss its financial results and business highlights.

To join the call, dial (800) 220-9875 and use the conference number 30134427#. The earnings release and materials related to the conference call will be available within the Investor Relations section of the company’s website.

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the registered bank holding company of Entegra Bank (the “Bank”). The company’s shares began trading on the NASDAQ Global Market on October 1, 2014 under the symbol “ENFC”.

The Bank now operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, North Carolina and Clemson, South Carolina.

For more information
David Bright
Chief Financial Officer
828-524-7000, ext. 5011


Entegra Financial Corp. Announces Third Quarter 2018 Results

Franklin, North Carolina | October 18, 2018

Entegra Financial Corp. (the “Company”) (NASDAQ:ENFC), the holding company for Entegra Bank (the “Bank”), today announced earnings and related data for the three and nine months ended September 30, 2018.

Highlights:

The following tables highlight the trends that the Company believes are most relevant to understanding the performance of the Company. As further detailed in Appendix A to this press release, adjusted results (which are non-U.S. generally accepted accounting principles, or non-GAAP, financial measures) reflect adjustments for investment gains and losses, investment impairment, and merger-related expenses.



Roger D. Plemens, President and Chief Executive Officer of the Company, reported, “We are pleased with the increase in core deposits during the third quarter of 2018 as the result of a Company-wide deposit campaign which increased core deposits by $28.4 million, or an annualized rate of 15.1%. Growing our balance sheet with core funding remains a key focus in our desire to continue growing shareholder value. Looking forward, we remain focused on opportunities to grow our franchise, with an emphasis on growing our commercial banking business.”

Read the complete earnings release here.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000

Entegra Financial Corp., Inc. Announces Date for Third Quarter 2018 Earnings Release and Conference Call

Franklin, North Carolina | October 5, 2018

Entegra Financial Corp. (the “Company”), (NASDAQ:ENFC), will release its third quarter 2018 financial results on Thursday, October 18, 2018, after the stock market closes. The company also will hold a conference call at 8:30 a.m. EDT on Friday, October 19, 2018, to discuss its financial results and business highlights.

To join the call, dial (800) 220-9875 and use the conference number 30134427#. The earnings release and materials related to the conference call will be available within the Investor Relations section of the company’s website.

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the registered bank holding company of Entegra Bank (the “Bank”). The company’s shares began trading on the NASDAQ Global Market on October 1, 2014 under the symbol “ENFC”.

Entegra Bank now operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, North Carolina and Clemson, South Carolina.

For more information
David Bright
Chief Financial Officer
828-524-7000, ext. 5011


Entegra Bank Hires Greenville, South Carolina Market Executive

Franklin, North Carolina | October 2, 2018

Entegra Bank (the “Bank”), the wholly owned subsidiary bank of Entegra Financial Corp. (NASDAQ:ENFC) announced today that it has hired Russ Williams as its Market Executive in Greenville, South Carolina.

Mr. Williams comes to the Bank from another financial institution in Greenville, South Carolina and has over 33 years of banking experience in the upstate of South Carolina. He has served in a number of senior level positions during that time, including as a co-founder and chief executive officer of a local community bank which sold in 2013. Mr. Williams is engaged in the Greenville community and has served on the boards of directors of numerous local organizations, as well as being active in the South Carolina Bankers Association. Roger Plemens, President and Chief Executive Officer of the Bank, commented, “We are excited to add Russ to our team and look forward to him enhancing our presence in Greenville through his extensive contacts and community involvement.”

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the holding company of Entegra Bank. The company’s shares began trading on the NASDAQ Global Market under the symbol “ENFC”.

Entegra Bank now operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, NC and Clemson, SC.

Disclosures About Forward Looking Statements:

The discussions included in this press release and its appendices may contain “forward-looking statements.” For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be “forward-looking statements.” Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” “will,” “should,” or other statements concerning opinions or judgments of the Company and its management about future events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated and may adversely affect our results of operations and financial condition. The accuracy of such forward-looking statements could be affected by factors including, but not limited to: the Company’s ability to implement aspects of its growth strategy; the financial success or changing conditions or strategies of the Company’s customers or vendors; the Company’s ability to compete effectively against other financial institutions in its banking markets; fluctuations in interest rates; actions of government regulators; the availability of capital and personnel; and general economic and market conditions. These forward-looking statements express management’s current expectations, plans or forecasts of future events, results of operation and financial condition. Additional factors that could cause actual results to differ materially from those anticipated by forward-looking statements are discussed in the Company’s reports filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website, including without limitation its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. These forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to revise or update these statements following the date of this press release, except as required by applicable law.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


Entegra Financial Corp. Announces Addition to the Executive Team

Franklin, North Carolina | July 23, 2018

Entegra Financial Corp. (NASDAQ:ENFC) (the “Company”), the holding company for Entegra Bank (the “Bank”), announced today that it has hired Delise Talley as an addition to the executive management team.

Mrs. Talley comes to Entegra from another financial institution in Asheville, North Carolina. Her 30-year career has included extensive experience in retail banking, small business banking, and human resources. During the last 17 years, she has led a team of over 500 employees in western North Carolina where she built and maintained outstanding customer experience and employee engagement.

Roger Plemens, President and Chief Executive Officer, commented, “We are excited to add Delise to our executive team and look forward to her thoughts and ideas as we continue to focus on retail banking. She will assume the role of Chief Retail Banking Officer upon Carolyn Huscusson’s retirement in February 2019 and will work closely with Carolyn over the next several months to ensure a smooth transition. Carolyn has been an invaluable source of knowledge and experience to Entegra for over 20 years and will be greatly missed.”

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the holding company of Entegra Bank. The company’s shares began trading on the NASDAQ Global Market under the symbol “ENFC”.

Entegra Bank now operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, NC and Clemson, SC.

Disclosures About Forward Looking Statements:

The discussions included in this press release and its appendices may contain “forward-looking statements.” For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be “forward-looking statements.” Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” “will,” “should,” or other statements concerning opinions or judgments of the Company and its management about future events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated and may adversely affect our results of operations and financial condition. The accuracy of such forward-looking statements could be affected by factors including, but not limited to: the Company’s ability to implement aspects of its growth strategy; the financial success or changing conditions or strategies of the Company’s customers or vendors; the Company’s ability to compete effectively against other financial institutions in its banking markets; fluctuations in interest rates; actions of government regulators; the availability of capital and personnel; and general economic and market conditions. These forward-looking statements express management’s current expectations, plans or forecasts of future events, results of operation and financial condition. Additional factors that could cause actual results to differ materially from those anticipated by forward-looking statements are discussed in the Company’s reports filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website, including without limitation its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. These forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to revise or update these statements following the date of this press release, except as required by applicable law.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


Entegra Financial Corp. Announces Second Quarter 2018 Results

Franklin, North Carolina | July 19, 2018

Entegra Financial Corp. (the “Company”) (NASDAQ:ENFC), the holding company for Entegra Bank (the “Bank”), today announced earnings and related data for the three and six months ended June 30, 2018.

Highlights:

The following tables highlight the trends that the Company believes are relevant to understanding the performance of the Company. As further detailed in Appendix A, core results (which are non-U.S. generally accepted accounting principles, or non-GAAP, financial measures) reflect adjustments for investment gains and losses, investment impairment, and merger-related expenses.



Roger D. Plemens, President and CEO of the Company, reported, “We are pleased with our second quarter results, as they reflect our continued focus on growing net interest income which increased 20.4% from the same quarter in 2017. We are also pleased with the increase in Small Business Administration (“SBA”) gains during the second quarter of 2018 compared to the first quarter of 2017 which reflect the impact of hiring an SBA Director in January 2018. Looking forward, we remain focused on opportunities to grow our franchise with an emphasis on deposits in rural markets.”

Read the complete earnings release here.

SOURCE: Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


Entegra Bank Announces Approval for Asheville, North Carolina Branch

Franklin, North Carolina | July 18, 2018

Entegra Bank, the wholly owned subsidiary bank of Entegra Financial Corp. (NASDAQ:ENFC) (the “Company”), today announced that it has received regulatory approval to open a de novo branch in Asheville, North Carolina.

Commenting on the approval, Roger Plemens, President and CEO of the Company, stated, “We look forward to expanding in Asheville with a full service branch that will complement the services currently provided by our loan production office in the area.”

A contract to purchase the branch, which is located at 1985 Hendersonville Rd, Asheville, North Carolina, has been executed. The opening of the branch, which is contingent on the transaction closing, is expected to occur in the fourth quarter of 2018.

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the holding company of Entegra Bank. The Company’s shares of common stock trade on the NASDAQ Global Market under the symbol “ENFC”.

Entegra Bank now operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, NC and Clemson, SC.

Disclosures About Forward Looking Statements:

The discussions included in this press release and its appendices may contain “forward-looking statements.” For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be “forward-looking statements.” Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” “will,” “should,” or other statements concerning opinions or judgments of the Company and its management about future events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated and may adversely affect our results of operations and financial condition. The accuracy of such forward-looking statements could be affected by factors including, but not limited to: the Company’s ability to implement aspects of its growth strategy; the financial success or changing conditions or strategies of the Company’s customers or vendors; the Company’s ability to compete effectively against other financial institutions in its banking markets; fluctuations in interest rates; actions of government regulators; the availability of capital and personnel; and general economic and market conditions. These forward-looking statements express management’s current expectations, plans or forecasts of future events, results of operation and financial condition. Additional factors that could cause actual results to differ materially from those anticipated by forward-looking statements are discussed in the Company’s reports filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website, including without limitation its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. These forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to revise or update these statements following the date of this press release, except as required by applicable law.

Entegra Financial Corp.
CONTACT: Roger D. Plemens, President & Chief Executive Officer, 828-524-7000


Entegra Financial Corp., Inc. Announces Date for Second Quarter 2018 Earnings Release and Conference Call

Franklin, North Carolina | July 5, 2018

Entegra Financial Corp., Inc (NASDAQ:ENFC), will release its second quarter 2018 financial results on Thursday, July 19, 2018, after the stock market closes. The company also will hold a conference call at 8:30 a.m. EST on Friday, July 20, 2018, to discuss its financial results and business highlights.

To join the call, dial (800) 220-9875 and use the conference number 30134427#. The earnings release and materials related to the conference call will be available within the Investor Relations section of the company’s website.

About Entegra Financial Corp. and Entegra Bank

Entegra Financial Corp. is the holding company of Entegra Bank. The company’s shares began trading on the NASDAQ Global Market on October 1, 2014 under the symbol “ENFC”.

Entegra Bank now operates a total of 18 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania, the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg and the Northern Georgia counties of Pickens and Hall. The Bank also operates loan production offices in Asheville, NC, Clemson, SC, and Duluth, GA.

For more information
David Bright
Chief Financial Officer
828-524-7000, ext. 5011

Media Contact

Roger D. Plemens
President & Chief Executive Officer
828-524-7000
For media questions, please contact us.