UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
February 24, 2017
Entegra Financial Corp.
(Exact name of registrant as specified in its charter)
| North Carolina | 001-35302 | 45-2460660 | ||
|
(State or other jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
14 One Center Court, Franklin, North Carolina 28734
(Address of principal executive offices) (Zip Code)
(828) 524-7000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01. | Other Events |
On February 24, 2017, Entegra Financial Corp. (the “Company”), announced that the Company’s Board of Directors has authorized the extension of its stock repurchase program (the “Program”) through February 23, 2018. The Program allows for the repurchase of up to 327,318 shares of the Company’s common stock, representing approximately 5% of the Company’s outstanding shares as of December 31, 2015. Approximately 104,568 shares have been repurchased under the Program to date, leaving a balance of 222,750 shares that may be purchased under the Program, as extended.
A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
| (d) |
Exhibits.
|
The following exhibit is filed herewith:
|
Item |
Description | ||
| 99.1 | Press Release dated February 24, 2017. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ENTEGRA FINANCIAL CORP. | ||||
| Date: February 24, 2017 | By: |
/s/ David A. Bright | ||
| David A. Bright | ||||
|
Executive Vice President and Chief Financial Officer | ||||
Exhibit Index
| 99.1 | Press Release dated February 24, 2017. |
FOR IMMEDIATE RELEASE
| Contact: | Roger D. Plemens |
| President and Chief Executive Officer | |
| (828) 524-7000 |
ENTEGRA FINANCIAL CORP. ANNOUNCES EXTENSION OF STOCK REPURCHASE PROGRAM
Franklin, North Carolina, February 24, 2017 — Entegra Financial Corp. (NASDAQ: ENFC) (the “Company”), announced today that the Company’s Board of Directors has authorized the extension of its stock repurchase program (the “Program”) through February 23, 2018. The Program allows for the repurchase of up to 327,318 shares of the Company’s common stock, representing approximately 5% of the Company’s outstanding shares as of December 31, 2015. Approximately 104,568 shares have been repurchased under the Program to date, leaving a balance of 222,750 shares that may be purchased under the Program, as extended.
The shares may be purchased in the open market at prevailing market prices or by other means in accordance with federal securities laws, from time to time, depending upon market conditions and other factors. There is no guarantee as to the number of shares that will be repurchased, and the Program may be extended, suspended, or discontinued at any time without notice at the Company’s discretion.
About Entegra Financial Corp.
Entegra Financial Corp. is the holding company of Entegra Bank. The Company’s shares began trading on the NASDAQ Global Market on October 1, 2014 under the symbol “ENFC”.
Entegra Bank operates a total of 15 branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk and Transylvania and Upstate South Carolina counties of Anderson, Greenville, and Spartanburg. The Company also operates loan production offices in Asheville, NC and Clemson, SC. For further information, visit the Company’s website www.entegrabank.com
Disclosures About Forward-Looking Statements
The discussions included in this document and its exhibits may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be “forward-looking statements.” Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” or other statements concerning opinions or judgments of the Company and its management about future events. The accuracy of such forward looking statements could be affected by factors including, but not limited to, the financial success or changing conditions or strategies of the Company’s customers or vendors, fluctuations in interest rates, actions of government regulators, the availability of capital and personnel or general economic conditions. These forward looking statements express management’s current expectations, plans or forecasts of future events, results and condition, including financial and other estimates. Additional factors that could cause actual results to differ materially from those anticipated by forward looking statements are discussed in the Company’s filings with the Securities and Exchange Commission, including without limitation its annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. The Company undertakes no obligation to revise or update these statements following the date of this press release.