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News Breaks | | | | March 21, 2013 | | 07:10 EDT |  | YAVY | Yadkin Valley Financial announces purchase of Cardinal State Bank branch in NC
Yadkin Valley Financial, the holding company for Yadkin Valley Bank & Trust, and Union Bank & Trust announced the execution of a Purchase and Assumption agreement for the purchase of the Cardinal State Bank branch in Creedmoor, North Carolina. Cardinal State Bank is a division of Yadkin Valley Bank & Trust. Union Bank will purchase the branch from Yadkin Valley, with transition activities to take place over the next 90 days. All current branch employees will become employees of Union Bank at the closing of the branch sale in late Q2. All loans and deposits will transfer to Union Bank at that time as well. | |
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