Entegra Financial Corp. Completes Purchase of 2 Branches in Georgia

Staff Report From Georgia CEO

Tuesday, February 28th, 2017

Entegra Bank, the wholly-owned subsidiary of Entegra Financial Corp., announced that it has completed the previously announced acquisition of two branches in Jasper, Georgia from Stearns Bank National Association, the wholly-owned subsidiary of Stearns Financial Services, Inc..  Entegra acquired approximately $153 million in customer deposits.

Commenting on the transaction, Roger Plemens, President and Chief Executive Officer of Entegra, stated, “We are happy to welcome our new customers to the Entegra family as we expand our franchise into northern Georgia. We look forward to providing our customers with an expanded set of products and services from the same familiar faces they have come to know over the years.  This transaction continues our strategy of leveraging our capital and building a strong deposit base in rural markets.

”In October 2016, Entegra entered into an agreement with Stearns Bank National Association to purchase the two branches. The acquired branches opened as Entegra Bank branches on the morning of February 27, 2017.