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Entegra postpones earnings release to review possible impairment charge

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Entegra postpones earnings release to review possible impairment charge

Franklin, N.C.-based Entegra Financial Corp., the holding company of Entegra Bank, is postponing the release of its financial results for the fourth quarter and full year 2018.

The earnings results have been delayed until market close Jan. 24, so Entegra has time to complete its review of a possible impairment charge to the company's goodwill following its recently announced merger with SmartFinancial Inc.

Any impairment charge would reduce shareholder equity and increase charges against income for 2018. Entegra is working out the possibility of an impairment charge and its potential cost.

The company also postponed its earnings conference call until Jan. 25 at 8:30 a.m. ET.