trending Market Intelligence /marketintelligence/en/news-insights/trending/gnuuzT-B5GEX7Cx-jEvJKA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Select Bank & Trust to acquire 3 Entegra Bank branches in western North Carolina

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Select Bank & Trust to acquire 3 Entegra Bank branches in western North Carolina

Dunn, N.C.-based Select Bancorp Inc.'s bank unit, Select Bank & Trust Co., agreed to acquire three branches of Entegra Bank in western North Carolina.

The branches are being divested under the agreements with the U.S. Department of Justice, Antitrust Division, and the Federal Reserve in connection with Entegra Bank's proposed merger into First-Citizens Bank & Trust Co.

Entegra Bank's Highlands, Sylva and Holly Springs branches in North Carolina will be acquired by Select Bank. Select Bank will assume about $180 million in deposits and will purchase approximately $110 million in loans.

Franklin, N.C.-based Entegra Financial Corp. is the parent company of Entegra Bank, and Raleigh, N.C.-based First Citizens BancShares Inc. is the parent company of First-Citizens Bank.

The proposed acquisition is expected to occur on or about Dec. 31.

On the date of the merger between Entegra Bank and First-Citizens Bank, expected to occur in the second quarter of 2020, First-Citizens Bank will temporarily acquire the three divested branches, but the accounts will not be converted to First-Citizens Bank's systems. Instead, Select Bank will acquire and convert customer accounts at the three divested Entegra Bank locations.