Yadkin Financial Acquired by F.N.B.

Yadkin Financial was acquired by F.N.B. in 2019.

The acquisition was a significant move in the banking industry, marking a major change for Yadkin Financial's customers and employees.

F.N.B. is a leading bank in the region, with a long history of providing financial services to individuals and businesses.

Their acquisition of Yadkin Financial expanded their reach and offerings, creating a stronger presence in the market.

The acquisition brought together two experienced teams, combining their expertise to deliver a wider range of products and services.

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Yadkin Financial Corporation was founded in 1955 in Yadkinville, North Carolina.

The company was known for its community banking focus, with a strong presence in the Piedmont Triad region.

Yadkin Financial was a leading financial institution in North Carolina, with a long history of serving local customers.

The company was a prominent employer in the Yadkinville area, with a workforce of over 1,000 employees at its peak.

Yadkin Financial's headquarters was located in Yadkinville, North Carolina, where the company's leadership team was based.

The company's roots in community banking were a key factor in its success, with a strong focus on local relationships and customer service.

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Yadkin Financial has a rich history that spans several decades. The original Yadkin Valley Bank was opened in 1968.

The bank experienced significant growth through acquisitions, including Main Street Bankshares, Inc. in 2002, High Country Financial Corporation in 2004, and American Community Bank of Monroe in 2009. These acquisitions helped Yadkin Valley Bank expand its reach and assets.

By 2005, the bank had reached a milestone of $1 billion in total assets. This growth continued with the acquisition of Cardinal State Bank in 2007, which marked the bank's entry into the Triangle market.

In 2013, Yadkin Valley Bank rebranded as Yadkin Bank, and the holding company changed its name to Yadkin Financial Corporation. This move brought all of the bank's acquired entities under one name.

The bank's growth continued with the merger of Yadkin Financial and VantageSouth in 2014, creating a new company with $4 billion in assets. This was followed by the acquisition of NewBridge Bancorp in 2016, which added $7.3 billion in assets and 110 branches to Yadkin Financial.

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The history of Yadkin Bank is a fascinating story of growth and expansion. It all started in 1968 when the original bank was opened.

Yadkin Valley Bank grew significantly in just three years, acquiring two other regional banks and a mortgage broker, and opening new branch locations. This rapid growth led to the bank reaching the $1 billion mark in total assets by December 31, 2005.

The bank continued to expand, reorganizing into a holding company in 2006 and acquiring Cardinal State Bank in 2007. This marked the bank's first entry into the Triangle market.

By 2009, Yadkin Valley Bank had acquired American Community Bank, further expanding its presence in North Carolina. The bank's growth was so rapid that by 2013, all of its acquired banks would have one name, Yadkin Bank.

As Yadkin Valley Bank continued to grow, it changed its name to Yadkin Financial Corporation in 2013, with $1.9 billion in assets and 36 branches.

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Stone Point was instrumental in Yadkin's merger into a large public company. This is a key example of a successful exit strategy in banking history.

A well-executed exit strategy can be a game-changer for banks looking to expand their reach or increase their value. Stone Point's involvement in Yadkin's merger is a prime example of this.

The merger allowed Yadkin to tap into a larger pool of resources and expertise, ultimately leading to its success as a public company.

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Ryan & Maniskas, LLP announced an investigation of Yadkin Financial Corporation on July 29, 2016.

The investigation was announced through a PR Newswire release, which is a common method for law firms to share updates with the public.

Ryan & Maniskas, LLP is a law firm that announces investigations of various corporations, including Yadkin Financial Corporation.

On July 29, 2016, Ryan & Maniskas, LLP announced an investigation of Yadkin Financial Corporation.

The investigation was announced through a press release distributed by PR Newswire.

Ryan & Maniskas, LLP is based in Wayne, Pennsylvania.

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Scott Custer, the former CEO of Yadkin Financial, claims he was unaware of federal redlining allegations against the bank. He led Yadkin for three years before its 2017 sale to FNB for $1.4 billion.

The allegations of redlining, which involve lenders avoiding credit services to individuals in communities of color, occurred from 2017 to 2021. FNB was accused of this practice in both Charlotte and Winston-Salem.

Custer stated that Yadkin never had any issues with redlining during his tenure. However, regulators said the alleged redlining started before the FNB purchase and continued thereafter.

FNB's settlement with the U.S. Department of Justice and the N.C. Attorney General's office included a $13.5 million payment. The bank's spokesperson, Jennifer Reel, said FNB disagreed with the DOJ's findings but chose to settle to avoid prolonged litigation.

At Yadkin Financial, they offer a range of financial services that cater to individual and business needs.

Their online banking platform allows customers to easily manage their accounts, pay bills, and transfer funds.

Yadkin Financial's mobile banking app provides secure access to account information and transactions on-the-go.

They also offer a variety of loan options, including personal and business loans, as well as lines of credit.

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F.N.B. Corporation has agreed to acquire Premier Financial Bancorp, Inc., the parent company of Premier Bank, in an all-stock transaction valued at approximately $360 million.

This acquisition is expected to expand F.N.B.'s presence in the Midwest region.

F.N.B. will issue approximately 13.3 million shares of its common stock to Premier Financial Bancorp shareholders in exchange for all outstanding shares of Premier Financial Bancorp common stock.

The transaction is subject to regulatory approvals and other customary closing conditions.

The combined company will have approximately $38 billion in assets and operate 340 branches in nine states.

The acquisition is expected to be completed in the second half of 2023.

F.N.B. and Premier Bank have a long-standing relationship, with Premier Bank serving as a correspondent bank for F.N.B. since 2011.

This existing relationship is expected to facilitate a smooth integration process.

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F.N.B. Corporation shareholders have given their approval for a merger transaction with Yadkin Financial Corporation.

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This merger has also been approved by the North Carolina bank regulator, clearing the way for the deal to move forward.

F.N.B. Corporation and Yadkin Financial Corporation have now received the necessary approvals from their shareholders and the bank regulator to proceed with the merger.

A shareholder update has been announced by Brodsky & Smith, LLC, who are investigating the board of directors of Yadkin Financial Corporation.

Stone Point assisted Yadkin's management team with target bank due diligence and advised management with respect to transaction structuring and financing.

Yadkin Valley Bank's significant growth was fueled by strategic acquisitions, including the purchase of Piedmont Bankshares, Inc. in June 2002 and High Country Financial Corporation in January 2004.

In 2009, Yadkin Valley Bank acquired American Community Bank of Monroe, North Carolina, expanding its presence in the region.

The company's ability to structure and finance transactions effectively was crucial to its success, allowing it to reach the $1 billion mark in total assets by December 31, 2005.

By 2013, Yadkin Valley Bank had grown to 36 branches, with a total of $1.9 billion in assets, after acquiring several other banks including Cardinal State Bank of Durham, North Carolina, in 2007.

A company declaring a cash dividend on its common stock is a significant financial transaction.

This type of announcement is often made by publicly traded companies to distribute a portion of their earnings to shareholders.

Yadkin Financial Corporation made such an announcement, indicating that they will be distributing cash to their shareholders.

This action can have a positive impact on the company's stock price, as it signals to investors that the company is profitable and has a strong financial position.

Shareholders who hold Yadkin Financial Corporation's common stock will receive the cash dividend.

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