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Entegra Financial shareholders approve First-Citizens Bank & Trust merger

Aug 02, 2019 - SNL Financial
Mergers and Acquisitions

Franklin, N.C.-based Entegra Financial Corp. shareholders approved the company's merger with Raleigh, N.C.-based First-Citizens Bank & Trust Co.

The deal is expected to close in the fourth quarter. Upon closing, Entegra Bank will initially operate as an independent brand division of First-Citizens. All customer accounts will eventually be converted to First-Citizens' systems.

Entegra and Knoxville, Tenn.-based SmartFinancial Inc. were originally slated to combine in a merger of equal...