The holding company for Entegra Bank reported a 24 percent increase in net interest income in the fourth quarter of 2016, citing a higher volume of loans and a decrease in interest paid on advances and deposits.

Earnings per share of 39 cents for the quarter beat the consensus estimate of 36 cents, and net interest margin for the year increased slightly from 3.11 percent to 3.28 percent according to an 8-k filing with the Securities and Exchange Commission.

Core return on equity increased to 7.47 percent in 2016 from 4.71 percent in 2015, driven by the strong gains in net interest income.

“The fourth quarter represents another successful quarter for the company as we continue to grow net income and improve return on equity,” said Roger D. Plemens, the chief executive officer of Entegra Financial Corp.

The bank has kept an eye toward expansion in 2016, and in April of this year completed the acquisition of Oldtown Bank operating in Waynesville, North Carolina, for $13.5 million in cash.

Excluding the assets acquired from this transaction, Entegra’s total assets grew nearly 15 percent in 2016.

Entegra currently operates 15 bank branches in the western region of North and South Carolina, and has recently focused on expanding into Georgia.

In October of 2016 the bank entered into an agreement to acquire Stearns Bank N.A. and its two banking branches located in Jasper, Georgia. Entegra will assume about $150 million in deposits, paying a deposit premium of 3.65 percent.

Shares of Entegra Financial Corp. closed on Friday at $21.05, showing neither a gain nor a loss from Thursday’s opening price.