Entegra Financial Corp. (NASDAQ:ENFC) Files An 8-K Other EventsItem 8.01 Other Events.
Entegra Financial Corp. (“Entegra”) (NASDAQ: ENFC) holds a $0.7M investment in the subordinated debt of First NBC Bank Holding Company, the holding company for First NBC Bank. On April 28, 2017, First NBC Bank was closed by the Louisiana Office of Financial Institutions and placed into FDIC receivership. Consequently, Entegra has concluded that its investment is impaired, and it expects to adjust its first quarter 2017 earnings by approximately $441,000, or $0.07 per diluted share, to reflect an appropriate after-tax impairment charge.
About Entegra Financial Corp. (NASDAQ:ENFC)
Entegra Financial Corp. is the holding company for Entegra Bank. The Company provides a range of financial services through full-service offices located in Cherokee, Henderson, Jackson, Macon, Polk and Transylvania counties, North Carolina and Anderson, Greenville, and Spartanburg counties, South Carolina. It provides full service retail and commercial banking products, as well as wealth management services through a third party. It operates through retail banking segment. Entegra Bank is a chartered savings bank. The Bank’s business consists primarily of accepting deposits from individuals and small businesses and investing those deposits, together with funds generated from operations and borrowings, primarily in loans secured by real estate, including commercial real estate loans, one- to four-family residential loans, construction loans, and home equity loans and lines of credit. It also originates commercial business loans and invests in investment securities. Entegra Financial Corp. (NASDAQ:ENFC) Recent Trading Information
Entegra Financial Corp. (NASDAQ:ENFC) closed its last trading session up +0.05 at 23.50 with 16,367 shares trading hands.