STOCK TITAN

First Citizens Bank Completes Operational Conversion of Entegra Bank Division

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

First Citizens Bank has successfully completed the conversion of its Entegra Bank division's operations and systems as of August 17, 2020. This integration aligns Entegra customer accounts with First Citizens' offerings, allowing them access to a broader range of financial products and services. The rebranding is effective at 11 former Entegra branches across Western North Carolina, Upstate South Carolina, and North Georgia. With over 560 offices in 19 states, First Citizens aims to enhance relationships with Entegra customers while providing the expected high-level service.

Positive
  • Successful conversion of Entegra Bank enhances operational efficiency.
  • Expanded product access for Entegra customers with First Citizens' offerings.
  • Customer transition process communicated effectively through prior mailings.
Negative
  • None.

RALEIGH, N.C., Aug. 17, 2020 (GLOBE NEWSWIRE) -- First Citizens Bank announced that its Entegra Bank division based in Franklin, N.C., has completed its conversion to First Citizens’ operations and systems. This conversion puts both banks on the same operational and technical systems and aligns customer accounts to First Citizens products and services.

“With completion of this conversion, we look forward to further deepening our relationships with Entegra customers in these important markets for our company,” said Frank B. Holding Jr., chairman and CEO of First Citizens Bank. “They now have access to the full complement of First Citizens’ products. Our dedicated, local bankers stand ready to assist them and provide the high level of service they’ve come to expect.”

Effective today (Aug. 17), 11 former Entegra division branches in Western North Carolina, Upstate South Carolina and North Georgia now carry the First Citizens Bank name. Signs at these former Entegra division offices were changed to First Citizens Bank.

These customers can now bank at any First Citizens branch in their communities. In addition, they can bank at any First Citizens location throughout the bank’s 19-state branch network, through First Citizens Digital Banking (online and mobile), by ATM and by telephone. Information detailing the conversion and transition to First Citizens was mailed to Entegra customers in July.

In conjunction with the conversion, four Entegra branches (two in Hendersonville, N.C.; one in Greenville, S.C.; and an in-store location in Jasper, Ga.) were consolidated into nearby local First Citizens or former Entegra branch locations. In addition, on April 17, 2020, Select Bank & Trust of Dunn, N.C., purchased three Western North Carolina branches from Entegra — Highlands, Sylva and the Holly Springs office in Franklin.

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank is one of the largest family-controlled banks in the U.S., with more than 560 offices in 19 states. First Citizens Bank is a wholly owned subsidiary of First Citizens BancShares, Inc. (Nasdaq: FCNCA), which had $47.87 billion in assets as of June 30, 2020. For more information, call toll free 1.888.FC DIRECT (1.888.323.4732) or visit firstcitizens.com. First Citizens Bank. Forever First®.


Barbara Thompson
First Citizens Bank 
919.716.2716  


FAQ

What is the significance of the Entegra Bank conversion by First Citizens Bank?

The conversion allows Entegra customers to access a wider array of products and services under the First Citizens brand, improving operational efficiency.

How many branches have transitioned from Entegra Bank to First Citizens Bank?

Eleven former Entegra branches in Western North Carolina, Upstate South Carolina, and North Georgia have transitioned to First Citizens Bank.

When was the Entegra Bank conversion completed?

The conversion was completed on August 17, 2020.

What should Entegra customers expect after the conversion?

Entegra customers can now bank at any First Citizens branch and utilize their banking services across a 19-state network.

What is the total asset value of First Citizens BancShares as of June 30, 2020?

As of June 30, 2020, First Citizens BancShares had total assets valued at $47.87 billion.

First Citizens BancShares Inc

NASDAQ:FCNCA

FCNCA Rankings

FCNCA Latest News

FCNCA Stock Data

28.97B
10.72M
20.46%
68.39%
2.7%
Banks - Regional
State Commercial Banks
Link
United States of America
RALEIGH