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Macon Bank reports earnings

Entegra Financial Corp., the holding company for Macon Bank, announced earnings for the three- and nine-month periods ended Sept. 30.
Total assets increased $99.9 million, or 12.7 percent, to $884.4 million as of Sept. 30, compared to $784.5 million on Dec. 31, 2013, propelled by the $63.7 million raised through the Entegra stock offering, as well as $26.5 million of deposit growth. Consistent with the moderate improvement in market conditions across the bank's area, net loans increased by $8.1 million to $530.0 million from $521.9 million Dec. 31, 2013. Total equity increased $71.8 million, or 220.8 percent, to $104.3 million, compared to $32.5 million on Dec. 31, 2013.
"We are extremely pleased with our improved third quarter and year-to-date performance compared to 2013," Roger D. Plemens, President and CEO of the company, said in a statement. "The closing of our stock offering and conversion on Sept. 30, 2014 was a historic milestone for the Company as we raised $65.5 million of additional capital from our depositors. The additional capital will help further grow our banking franchise as we continue to provide our customers