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Entegra Financial Corp. Announces Extension of Stock Repurchase Program

FRANKLIN, N.C., Feb. 24, 2017 (GLOBE NEWSWIRE) -- 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.

Roger D. Plemens President and Chief Executive Officer (828) 524-7000

Source:Entegra Financial Corp.