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)
May 2, 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))

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company   þ

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

 

Item 8.01 Other Events.

 

Entegra Financial Corp. (“Entegra”) (NASDAQ: ENFC) holds a $0.7M investment in the subordinated debt of First NBC Bank Holding Company, the holding company for First NBC Bank. On April 28, 2017, First NBC Bank was closed by the Louisiana Office of Financial Institutions and placed into FDIC receivership. Consequently, Entegra has concluded that its investment is impaired, and it expects to adjust its first quarter 2017 earnings by approximately $441,000, or $0.07 per diluted share, to reflect an appropriate after-tax impairment charge.

 

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: May 2, 2017   By:  

/s/   David A. Bright

        David A. Bright
        Chief Financial Officer