46:
On July 4, 2014, Yadkin
Financial and VantageSouth Bancshares Inc. completed a merger which resulted in the largest community bank based in North Carolina, and the fourth-largest bank headquartered in the state, with $ 4 billion in assets and $ 3.2 billion in deposits. The company was headquartered
63:
The original bank was opened in 1968. However, in three years Yadkin Valley Bank grew significantly by the acquisition of two other regional banks (Main Street
Bankshares, Inc. in June 2002, operating as "Piedmont Bank", and High Country Financial Corporation in January 2004, operating as "High
138:
In August 2012, Crescent announced a merger with
VantageSouth, which had five branches and $ 260.7 million in assets as of September 30 and was called by Custer "one of the most profitable banks in North Carolina." On December 3, the fifteen Crescent branches took the VantageSouth name. Custer
64:
Country Bank") and a mortgage broker (Sidus
Financial LLC in October 2004), as well as opening new branch locations. Piedmont Bank and High Country Bank were reorganized as divisions of Yadkin Valley Bank but maintained their names and logos. Sidus remained as a wholly owned subsidiary.
115:
On
October 5, 2011, it was announced that Piedmont would buy VantageSouth, which had two branches in Burlington, $ 91 million in assets and $ 73 million in deposits, and that the company would take the name VantageSouth. Piedmont had a controlling interest in VantageSouth and in
146:-based East Carolina Bank, with 25 branches, announced their merger. Once the East Carolina deal was completed, VantageSouth had 45 branches in central and eastern North Carolina and $ 2 billion in assets. It was announced in January 2014 that five of those will close.
158:. VantageSouth president and CEO Scott Custer will become Yadkin Financial CEO, and Yadkin Financial's Joe Towell becomes executive chairman. VantageSouth chairman Adam Abram will remain on the board. Yadkin will have $ 4 billion in assets, $ 3.2 billion in deposits,
92:
As of May 28, 2013, all of the banks Yadkin Valley had acquired would have one name, Yadkin Bank. The holding company also changed names to Yadkin
Financial Corporation. With $ 1.9 billion in assets and 36 branches, Yadkin Valley Bank would become Yadkin Bank and its
67:
Yadkin Valley Bank and its divisions operated 23 full-service branch locations. As of
December 31, 2005, the company achieved a milestone in the bank's history by reaching the US$ 1 billion mark in total assets for the first time.
219:
248:
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On
January 27, 2014, Yadkin Financial and VantageSouth announced a "merger of equals". The new company was called Yadkin Financial Corp. and was based in Raleigh. Banking operations were based in
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In 2009, J. Adam Abram and Steven Lerner started
Piedmont Community Bank Holdings. In 2010, Piedmont bought a majority stake in VantageSouth.
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131:-based Crescent Financial Bancshares, parent of Crescent State Bank. Abram would become Crescent chairman, and Piedmont president and former
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completed a $ 456 million deal, which gave Yadkin $ 7.3 billion in assets and 110 branches. Yadkin had few branches in the
186:
With the completion of the FNB deal, conversion of Yadkin Bank branches to First
National Bank took place March 11, 2017.
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273:"Yadkin Valley Bank Reorganizes Into Holding Company and Announces Stock Repurchase," press release dated July 5, 2006
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The completion of the merger happened July 4 and the VantageSouth disappeared. Signs were to be changed by September.
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On July 1, 2006, the company reorganized into a holding company, becoming Yadkin Valley Financial Corporation.
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Even before changing the signs on NewBridge branches, Yadkin agreed to a $ 1.4 billion deal with
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market. The completion of the deal gave Yadkin Valley 28 branches in 11 North Carolina counties.
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Yadkin Valley Bank announced in June 2007 that it was buying Cardinal State Bank of
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On October 24, 2011, Piedmont announced it would acquire a controlling interest in
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Papandrea, Roselee (February 20, 2010). "Majority of VantageSouth bought".
23:, a defunct regional bank with $ 7.3 billion in assets and 110 branches in
284:"Yadkin Valley to Acquire Cardinal State," Associated Press, June 15, 2007
637:"Yadkin Financial agrees to be sold to Pittsburgh bank for $ 1.4 billion"
132:
610:"Yadkin Financial Corporation Completes Merger With NewBridge Bancorp"
94:
431:
Ranii, David (October 25, 2011). "Deal approved for Crescent bank".
383:"VantageSouth, Yadkin merger to create largest community bank in NC"
585:"Yadkin Financial plans to buy NewBridge Bancorp for $ 456 million"
531:"Yadkin Financial completes acquisition of VantageSouth Bancshares"
486:
Ranii, David (December 4, 2012). "VantageSouth absorbs Crescent".
456:
249:"F.N.B. completes conversion of Yadkin Bank, NewBridge branches"
328:"Yadkin Valley net income up 58 percent as strategy paying off"
220:"Yadkin Financial ready to embrace super-community bank status"
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became CEO and VantageSouth CEO Steve Jones became president.
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Yadkin Valley Bank acquired American Community Bank of
300:"Yadkin Valley Bank rebranding continues in Durham"
78:. The purchase is the bank's first entry into the
503:"North Carolina's biggest community bank is born"
713:Companies listed on the New York Stock Exchange
357:"Burlington's VantageSouth Bank being bought".
452:"East Carolina Bank Merging With Raleigh Bank"
172:, where NewBridge had most of its locations.
19:was a bank holding company and the parent of
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663:"M&A Target Pops Over 50% - What Next?"
124:, which would also merge with the company.
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198:(redirects to First National Bank website)
135:CEO Scott Custer would be Crescent CEO.
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417:Times-News (Burlington, North Carolina)
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164:On March 1, 2016, Yadkin Financial and
97:symbol would change from YAVY to YDKN.
703:American companies established in 1968
557:"VantageSouth-Yadkin merger complete"
218:Craver, Richard (February 29, 2016).
7:
583:Craver, Richard (October 13, 2015).
460:. September 25, 2012. Archived from
142:On September 25, 2012, Crescent and
661:DeMuth Jr., Chris (July 21, 2016).
501:O'Daniel, Adam (January 31, 2014).
718:Defunct banks of the United States
555:Ohnesorge, Lauren (July 7, 2014).
326:Craver, Richard (April 25, 2013).
298:Weisbecker, Lee (April 25, 2013).
247:Craver, Richard (March 13, 2017).
14:
635:Craver, Richard (July 21, 2016).
381:Ranii, David (January 27, 2014).
51:with banking operations based in
529:Craver, Richard (July 7, 2014).
39:. The bank was headquartered in
105:In 2005, VantageSouth began in
1:
693:Banks based in North Carolina
698:Surry County, North Carolina
31:before the 2017 purchase by
17:Yadkin Financial Corporation
156:Statesville, North Carolina
150:History of Yadkin Financial
53:Statesville, North Carolina
734:
508:Charlotte Business Journal
107:Burlington, North Carolina
708:Banks established in 1968
562:Triangle Business Journal
305:Triangle Business Journal
144:Engelhard, North Carolina
120:-based Community Bank of
118:Salisbury, North Carolina
101:History of VantageSouth
49:Raleigh, North Carolina
87:Monroe, North Carolina
76:Durham, North Carolina
59:History of Yadkin Bank
641:Winston-Salem Journal
589:Winston-Salem Journal
535:Winston-Salem Journal
333:Winston-Salem Journal
253:Winston-Salem Journal
224:Winston-Salem Journal
41:Elkin, North Carolina
464:on February 22, 2014
129:Cary, North Carolina
488:News & Observer
433:News & Observer
395:on January 29, 2014
388:News & Observer
363:. October 6, 2011.
166:NewBridge Bancorp
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190:External links
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170:Piedmont Triad
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29:South Carolina
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490:. p. 6B.
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670:. Retrieved
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594:October 13,
514:February 3,
468:February 4,
399:February 3,
339:February 5,
311:February 3,
196:Yadkin Bank
21:Yadkin Bank
687:Categories
360:Times-News
203:References
181:Pittsburgh
37:Pittsburgh
258:March 22,
89:in 2009.
672:July 21,
646:July 21,
620:March 3,
229:March 3,
133:RBC Bank
80:Triangle
568:July 8,
540:July 7,
95:NASDAQ
122:Rowan
25:North
674:2016
648:2016
622:2016
596:2015
570:2014
542:2014
516:2014
470:2014
457:WITN
401:2014
341:2014
313:2014
260:2017
231:2016
27:and
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47:in
35:of
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