On December 31, 2019, First Citizens BancShares Inc. completed its previously announced acquisition of Entegra Financial Corp. In connection with the Mergers, all of Entegra's directors and executive officers ceased serving as directors and executive officers of Entegra as of the effective time. Also in connection with the merger, the employment of each of Roger D. Plemens, Entegra's President and Chief Executive Officer, and David A. Bright, Entegra's Chief Financial Officer, was terminated effective as of December 31, 2019.

Entegra and Mr. Plemens entered into a Consulting Agreement effective immediately after the Effective Time. Ryan Scaggs, Entegra's Chief Operating Officer, entered into a First Amendment to Employment and Change of Control Agreement and Release of Claims with Entegra effective immediately upon the Closing Date.