Hunton Andrews Kurth Leads Entegra Financial’s Merger with First Citizens Bank

Hunton Andrews Kurth LLP is representing Entegra Financial Corp., the holding company of Entegra Bank, in its all-cash merger with First Citizens Bank & Trust Company (First Citizens Bank). Entegra’s board of directors determined that First Citizens’ proposed merger was a superior proposal and terminated its previously announced merger agreement with SmartFinancial, Inc. The First Citizens transaction is valued at approximately $220 million.

Entegra Bank, which is headquartered in Franklin, North Carolina, is a community bank that provides retail and commercial financial services. The state-chartered, full-service commercial bank, which was established in 1922, operates 18 branches located in Western North Carolina, Upstate South Carolina and North Georgia. It also has loan production offices located in Asheville, North Carolina and Clemson, South Carolina.

As of December 31, 2018, the Entegra Financial subsidiary had $1.6 billion in consolidated assets, $1.2 billion in deposits and $1.1 billion in loans.

Team members representing Entegra include Peter Weinstock, Eric Markus, Steven Haas, Candace Moss and Zach Silvers.