Entegra Financial established a $15 million revolving credit loan facility with NexBank.

According to a related 8-K filing, the loan facility, which is secured by Entegra Bank stock, bears interest at LIBOR + 350 basis points. The loan is set to mature on September 15, 2020. Entegra intends to use the loan facility for general corporate purposes. Entegra has not currently drawn down any funds under the facility.