Entegra Financial Corp., the holding company for Entegra Bank, reported third-quarter earnings per share that beat analyst expectations.

Entegra reported a net income $2.5 million, or 39 cents per share, a 37 percent increase from last year’s same quarter. Analysts expected the bank to report earnings of 37 cents per share.

Entegra Financial serves as a holding company for Entegra Bank, operating 18 branches and loan production offices throughout North Carolina, South Carolina and Georgia.

The company closed an acquisition of Chattahoochee Bank of Georgia on Oct. 1, which is expected to increase Entegra’s North Georgia lending presence and impact future earnings.

“The third quarter represents another successful quarter for the Company as we continue to improve our earnings and utilize our capital,” said Chief Executive Officer Robert Plemens. “We are particularly pleased with the improvement in our efficiency ratio as we seek to be better and not simply larger,” said Plemens.

Entegra Financial stock price is trading at $26.85, up 45 cents, or 1.7 percent, in midday Friday trading.

The earnings release can be found here.