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First-Citizens Bank & Trust acquires Entegra Financial

Raleigh, N.C.-based First-Citizens Bank & Trust Co. on Dec. 31, 2019, completed its acquisition of Franklin, N.C.-based Entegra Financial Corp.

The 18 Entegra branch offices will initially operate as Entegra Bank, a division of First Citizens Bank. At a later date, Entegra Bank accounts based at 15 branches will be converted into First-Citizens Bank's systems.

Within six months, three western North Carolina Entegra branches, namely Holly Springs, Highlands and Sylva, will be sold to Dunn, N.C.-based Select Bank & Trust Co. The three branches are being divested as required under agreements with the Department of Justice and the Federal Reserve following their competitive market analysis.