Entegra Financial Corp. (Entegra) will own all of the shares of common stock of Macon Bank upon completion of this offering and the mutual-to-stock conversion of Macon Bancorp. Macon Bancorp is a North Carolina chartered mutual holding company. Macon Bank has one subsidiary, Macon Services, Inc., which holds real estate for investment. The Bank was organized as a mutual savings and loan association, or thrift, for the primary purpose of promoting home ownership through mortgage lending, financed by locally gathered deposits. It has 11 branches located throughout the western North Carolina counties of Cherokee, Henderson, Jackson, Macon, Polk and Transylvania, which it consider its primary market area. The Company offers a range of deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and individual retirement accounts.