Yadkin Financial: Difference between revisions
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The original bank was opened in 1968. However, in the last three years Yadkin Valley Bank has grown 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 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 remains as a wholly owned subsidiary. |
The original bank was opened in 1968. However, in the last three years Yadkin Valley Bank has grown 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 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 remains as a wholly owned subsidiary. |
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Yadkin Valley Bank and its divisions operate 23 full-service branch locations and as of December 31, 2005 achieved a milestone in the bank's history by reaching the US$1 billion mark in total assets for the first time. |
Yadkin Valley Bank and its divisions operate 23 full-service branch locations and as of December 31, 2005, achieved a milestone in the bank's history by reaching the US$1 billion mark in total assets for the first time. |
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On July 1, 2006, the company reorganized into a holding company, becoming Yadkin Valley Financial Corporation.<ref>[http://biz.yahoo.com/iw/060705/0141451.html "Yadkin Valley Bank Reorganizes Into Holding Company and Announces Stock Repurchase," press release dated July 5, 2006]</ref> |
On July 1, 2006, the company reorganized into a holding company, becoming Yadkin Valley Financial Corporation.<ref>[http://biz.yahoo.com/iw/060705/0141451.html "Yadkin Valley Bank Reorganizes Into Holding Company and Announces Stock Repurchase," press release dated July 5, 2006]</ref> |
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Revision as of 01:36, 11 April 2007
Yadkin Valley Bank and Trust (Nasdaq: YAVY) is a regional bank operating in the northwestern and Piedmont sections of North Carolina. The bank is headquartered in Elkin, North Carolina.
The original bank was opened in 1968. However, in the last three years Yadkin Valley Bank has grown 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 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 remains as a wholly owned subsidiary.
Yadkin Valley Bank and its divisions operate 23 full-service branch locations and as of December 31, 2005, achieved a milestone in the bank's history by reaching the US$1 billion mark in total assets for the first time.
On July 1, 2006, the company reorganized into a holding company, becoming Yadkin Valley Financial Corporation.[1]