Print
Banking & Finance

First Citizens Moving Closer To Entegra Merger

By Jenny Callison, posted Sep 6, 2019
With the approval of its shareholders at last month’s annual meeting, Entegra Financial Corp. is moving ahead on a merger agreement with First-Citizens Bank & Trust Co., according to a news release. First Citizens’ proposal to acquire Franklin, North Carolina-based Entegra through merger was first announced in April.
 
If the transaction secures regulatory approvals and meets customary conditions, the purchase by First-Citizens – the Raleigh-based parent of First Citizens Bank – is expected to take place during the fourth quarter of this year, the release stated.
 
Following the merger, branches of Entegra’s wholly owned subsidiary, Entegra Bank, will initially continue to operate as Entegra Bank, a division of First Citizens Bank. Entegra’s customer accounts would be converted to First Citizens Bank’s systems and operations at a later date, the release stated.
 
Entegra Bank, with $1.7 billion in consolidated assets, operates 18 branches in Western North Carolina, Upstate South Carolina and North Georgia. First Citizens Bank, which in our tri-county area ranks fourth in market share and operates 14 branches, has a total of $37.7 billion in consolidated assets.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Sherrip2019 insights profile

That’s Who We Are

Sherri Pridgen - Cape Fear REALTORS®
Chris coudriet

2020: A Year Of Action, Initiatives In New Hanover County

Chris Coudriet - New Hanover County Government
Natalieenglish 3301715113

Advocacy: The Heart of the Chamber

Natalie English - Wilmington Chamber of Commerce

Trending News

Luxury Student Housing Sells For $27M In Wilmington

Cece Nunn - Feb 24, 2020

Next Glass Acquires BeerAdvocate Assets, Including Website

Christina Haley O'Neal - Feb 24, 2020

Dockbuilder Plans To Move, Grow In Castle Hayne

Christina Haley O'Neal - Feb 24, 2020

Port: Coronavirus Impacts To Cause Some Missed Sailings

Christina Haley O'Neal - Feb 25, 2020

Coldwell Banker Sea Coast Advantage Adds To Leadership Team

Christina Haley O'Neal - Feb 25, 2020

In The Current Issue

The Challenges Of B&Bs

Margi and Doug Erickson offer a laid-back atmosphere at the C.W. Worth House, a Victorian inn and bed and breakfast establishment in downtow...


Local 'star' Is Lodging Employee Of The Year

Local hospitality leader Kevin Cottet, general manager of Staybridge Suites Wilmington-Wrightsville at 5010 New Centre Drive, received state...


Center Of Attention

Keeping up a house takes work. Keeping up a riverfront structure that houses ballrooms, exhibit halls and meeting rooms for hundreds of even...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`